Title
A Resolution of the Lexington-Fayette Urban County Council approving the Economic Development Partnership with Madison County, Scott County, City of Berea, City of Georgetown, and City of Richmond; authorizing and directing the Mayor, on behalf of the Urban County Government, to execute an Interlocal Cooperation Agreement, Membership Agreement, and other necessary and related documents, forming the Central Ky. Business Park Authority; and authorizing payment in the amount of $2,125,000 to the Authority for the purpose of carrying out the duties and powers of the authority as limited by the aforementioned agreements and relevant state law. [Mayor's Office, Atkins]
Summary
Authorization to execute an Interlocal Cooperation Agreement and Membership Agreement with Madison County, Scott County, City of Berea, City of Georgetown and City of Richmond to form the Central Kentucky Business Park Authority. The Interlocal Cooperative Agreement is the formation of the Authority and development of the Triple Crown Business Park in Scott County. LFUCG's contribution toward the Agreement is $2,125,000. Funds are Budgeted. (L1018-24) (Atkins)
Budgetary Implications [select]: Yes
Advance Document Review:
Law: { Yes, Completed by [Evan Thompson, 10/04/2024]}
Risk Management: {Select Yes/No, Completed by [Official, Date]}
Fully Budgeted [select]: Yes
Account Number: 1105-136102-1361-71299
This Fiscal Year Impact: $2,125,000.00
Annual Impact: N/A
Project: TRIBUSPARK_2025
Activity: PROF_SRV
Budget Reference: 2025
Current Balance: $2,125,000
Body
WHEREAS, the Lexington-Fayette Urban County Government is responsible for the welfare of the people of Lexington-Fayette County, Kentucky, and
WHEREAS, providing economic opportunity and growth is necessary for the welfare of the people of Lexington-Fayette County, Kentucky, and
WHEREAS, the Lexington-Fayette Urban County Government also recognizes that in the current economic development environment, opportuniti...
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