LEGISLATIVE ACTION ITEM
SPONSOR: City Council Member Andy Terhaar
SUBJECT:
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SUPPLEMENTAL BUDGET RESOLUTION NO. 18-46 - AMENDING THE FISCAL YEAR 2019 BUDGET - SKATEBOARD PARK FUNDING
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RECOMMENDATION:
recommendation
That City Council adopt Supplemental Budget Resolution No. 18-46.
A RESOLUTION AUTHORIZING AND MAKING REVISIONS AND
APPROPRIATIONS FOR THE FISCAL YEAR 2019 BUDGET, ENDING SEPTEMBER 30, 2019; PROVIDING FOR AN EFFECTIVE DATE.
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HEARING REQUIRED: No Hearing Required
SUMMARY:
Currently, within the Capital Improvement Plan (LOST IV) of the FY 19 Budget, there is $200,000 appropriated for City Hall Parking Lot Improvements. Also within the FY 19 Budget a line item has been created for the Skate Board Park.
At the September 13, 2018 City Council Meeting, the City Council approved a Community Maritime Park Option Agreement which will provide for monies to be paid to the City from Studer Properties, LLP in consideration of these options.
This item proposes the transfer of the $200,000 appropriated for City Hall Parking Lot Improvements to the Skate Board park line item. Further, when monies are received from the option payments, that $200,000 be then used for City Hall Parking Lot Improvements.
PRIOR ACTION:
September 19, 2018 - City Council formally adopted a beginning FY 2019 Budget on Budget Resolution No. 18-40.
September 13, 2018 - City Council approved the Community Maritime Park Option Agreement
FUNDING:
N/A
FINANCIAL IMPACT:
$200,000 currently within LOST IV (Capital Improvement Plan) for City Hall Parking Lot Improvements will be moved to the line item for the Skate Board Park. Once received, $200,000 from the Studer Options payments will be transferred for use on the City Hall Parking Lot Improvements.
STAFF CONTACT:
Don Kraher, Council Executive
ATTACHMENTS:
1) Supplemental Budget Resolution No. 18-46
2) Supplemental Budget Explanation No. 18-46
PRESENTATION: No