Title
A Resolution authorizing the Mayor, on behalf of the Urban County Government, to execute an Agreement with Commerce Lexington and Greater Lex, Inc., to provide $130,000 in funding to Greater Lex, Inc. for the Regional Economic Development Collective, and to assign the previous Agreements and funding for the Collective from Commerce Lexington to Greater Lex, Inc. [Mayor's Office, Atkins]
Summary
Authorization to execute an Agreement with Commerce Lexington, Inc. and Greater Lex, Inc. to provide $130,000 in funding to Greater Lex for the Regional Economic Development Collective, and to assign the previous Agreements and funding for the Collective from Commerce Lexington to Greater Lex. Funds are Budgeted. (L0413-24) (Atkins)
Budgetary Implications [select]: No
Advance Document Review:
Law: {Yes, Completed by [Dave Barberie, 4/12/24]}
Risk Management: {Select Yes/No, Completed by [Official, Date]}
Fully Budgeted [select]: Yes
Account Number: 1144-136102-1365-78103
This Fiscal Year Impact: $130,000
Annual Impact: $
Project:
Activity:
Budget Reference:
Current Balance: $130,000
Body
BE IT RESOLVED BY THE COUNCIL OF THE LEXINGTON-FAYETTE URBAN COUNTY GOVERNMENT:
Section 1 - That the Mayor, on behalf of the Lexington-Fayette Urban County Government, be and hereby is authorized to execute an Agreement, which is attached hereto and incorporated herein by reference, with Commerce Lexington, Inc. and Greater Lex, Inc., to provide $130,000.00 in funding to Greater Lex, Inc. for the Regional Economic Development Collective, and to assign the previous Agreements and funding for the Collective from Commerce Lexington to Greater Lex, Inc.
Section 2 - That an amount, not to exceed the sum of $130,000.00, be and hereby is approved for payment to Greater Lex, Inc., from account #1144-136102-78103, pursuant to the terms of the Agreement.
Section 3 - That this Resolution shall become effective on the date of its passage.
PASSED URBAN COUNTY COUNCIL:
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