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.