HomeMy WebLinkAbout01-231 AGENDA BILL
BREMERTON CITY COUNCIL
1. SUBJECT: Budget Adjustment and FOR AGENDA OF: Oct. 10, 2001
~O~'(~/3 ~2,1~3~l Inter-Fund Loan ORIGINATING DEPT: Mayor
For financing the costs of acquiring the East Park property ORIGINATOR: L. Horton
from the Navy. DATE SUBMITTED: Oct. 2, 2001
2. CLEARANCES: Comment of beck if necessary) 3. EXHIBITS:
Fiscal & Budget Committee ~ Budget Adjustment 2001 #17
Operations Committee ~=~=~:=~;~_~/ Draft Resolution ,~.~ ~ c~
Letter from Navy
ENDORSEMENTS/~' INFOR/MATION APPROVED BY COUNCIL PRESID~,NT"F~R s~U.~IITTAL:
4. SUMMARY STATEMENT AND REQUIEEMENT FOR COUNCIL ACTIOn.'~-~'~ ~'
The City is in the process of acquiring the East Park property from the Federal government. While the government is
offedng to convey the property free of charge, the City will be obligated to pay for an environmental assessment of
the property and other closing costs. These costs are not expected to exceed $100,000. It is anticipated that the
City's costs will be recovered when portions of the property not needed for municpal purposes are sold for private
development. However the timing of such sale cannot be predicted at this point.
8. R COM DATION:
1. Motion to approve Budget Adjustment Request No. 2001 #17.
2. Motion to approve Resolution No.Z~$~ authorizing and interfund loan.
9. RESPONSIBLE OFFICIAL: Mayor
ENFORCEMENT OFFICIAL: N/A
EXPIRATION DATE: 12/31/2006
REVIEW DATE: N/A
10. NOTICE OF ACTION
PULLED~ TABLED APPROVED v'/ DISAPPROVED AMENDED
COUNCIL DIRECTIVE:
1t. AGENDA BILL NO:
2. CLEARANCE COMMENTS:
$. IMPACT ON NON-PASSAGE:
The City will lack the expenditure authority necessary to complete the needed closing activities and will likely forfeit
the East Park property.
6. IMPACT ON STAFFING. BUDGETS. FACILITIES. EQUIPMENT OR OTHER RESOURCES:
This will increase expenditures in the current year by an amount not in excess of $100,000 using money borrowed
from the Equipment Rental Reserve. The money will be repaid upon sale of some portion of the acquired property.
7. RESEARCH SOURCES:
City Staff.