Title
Resolution Requesting Financial Information from the Downtown Development Authority
Body
Whereas, The City has fiduciary responsibility for any bonds issued for Downtown Development Authority ("DDA") projects; and
Whereas, The City Council is committed to working with the DDA to ensure its financial stability;
RESOLVED, That the City Council requests that the DDA provide the City Council, within thirty (30) days, a financial plan to increase revenue and/or defer projects to ensure adequate contingencies and fund balances for fiscal years 2010 and 2011, and that the proposals may include, but are not limited to, (1) prompt implementation of a demand-based pricing system for parking facilities, (2) increases in fees for "bagging" parking meters, and/or (3) deferring scheduled capital projects.
Submitted by: Councilmembers Leigh Greden and Margie Teall
Date: February 17, 2009