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File #: 21-1093    Version: 1 Name: 6/21/21 Resolution to Increase Downtown Development Authority FY22 Budget
Type: Resolution Status: Passed
File created: 6/21/2021 In control: City Council
On agenda: 6/21/2021 Final action: 6/21/2021
Enactment date: 6/21/2021 Enactment #: R-21-241
Title: Resolution to Increase Downtown Development Authority FY22 Budget ($554,704) (8 Votes Required)

Title

Resolution to Increase Downtown Development Authority FY22 Budget ($554,704) (8 Votes Required)

Memorandum

This resolution authorizes an amendment to the recently approved FY22 Downtown Development Authority budget.  An increase of $554,704 is being requested in the FY22  2019-A Capital Improvement Bond fund.  The funding will be allocated toward planned street improvements, pedestrian amenities and other related improvements in the DDA district and exhaust the proceeds of the bond issuance. 

 

Budget/Fiscal Impact:  Remaining existing bond proceeds are available to cover the costs of the intended improvements.   No additional funds are requested.

Staff

Prepared by:                                          Kim Buselmeier, Budget & Finance Supervisor                     

Reviewed by:                     Marti Praschan, Financial Services Area Administrator & CFO

Approved by:                                          Tom Crawford, City Administrator

Body

Whereas, An additional $554,704 is requested in the FY22 Downtown Development Authority budget in the 2019-A Capital Improvement Bond fund for the purpose of street improvements, pedestrian amenities and other related improvements in the DDA district;

 

Whereas, Existing bond proceeds are available for the intended capital improvements;

 

RESOLVED, That $554,704 be appropriated to the FY22 Downtown Development Authority budget in the 2019-A Capital Improvement Bond fund with the source of revenue being from bond proceeds;

 

RESOLVED, That all amounts herein are without regard to fiscal year; and

 

RESOLVED, That the City Administrator be authorized to take all necessary actions to implement this resolution.