File #: 13-1342    Version: 1 Name:
Type: Report Action Item Status: Passed
File created: 9/12/2013 In control: Finance Committee
On agenda: 9/25/2013 Final action: 10/2/2013
Title: The following 2013 Budget Adjustment be approved - Capital Projects - Public Safety Transfer out to TIF 8 - Riverheath +$350,000 Capital Projects - TIF 8 Transfer in from Public Safety +$350,000 To reverse $350,000 of the original 2012 General Obligation Proceeds reallocation for the $1.6 million Riverheath Infrastructure Loan to account for the clarification that the lift station and force main are included as eligible costs. After this adjustment, the amount allocated to Riverheath from the 2012 General Obligation issue is $1,100,000 leaving $500,000 to be included in the 2014 General Obligation Issue for completion of the concrete. When the project was originally broken into two phases in December of 2012, $850,000 of the 2012 proceeds was re-allocated to Public Safety Capital Fund for the radio project and included in the 2012-2013 carryover. This adjustment is required to complete the funding of the transaction for 2013 (2...
Attachments: 1. TIF 8.pdf
Title
The following 2013 Budget Adjustment be approved -
 
Capital Projects - Public Safety
Transfer out to TIF 8 - Riverheath                       +$350,000
Capital Projects - TIF 8
Transfer in from Public Safety                            +$350,000
To reverse $350,000 of the original 2012 General Obligation Proceeds reallocation for the $1.6 million Riverheath Infrastructure Loan to account for the clarification that the lift station and force main are included as eligible costs.  After this adjustment, the amount allocated to Riverheath from the 2012 General Obligation issue is $1,100,000 leaving $500,000 to be included in the 2014 General Obligation Issue for completion of the concrete.  When the project was originally broken into two phases in December of 2012, $850,000 of the 2012 proceeds was re-allocated to Public Safety Capital Fund for the radio project and included in the 2012-2013 carryover.  This adjustment is required to complete the funding of the transaction for 2013 (2/3 vote required).