HomeMy WebLinkAbout07/02/2014 6H AGENDA BILL &14
CITY OF BREMERTON
CITY COUNCIL
SUBJECT: Resolution No. 3222 Amending Study Session Date: June 25, 2014
Resolution No. 3211 relating to interfund COUNCIL MEETING Date: July 2, 2014
loans for the Park Avenue Plaza Project Department: Financial Services
Presenter: Cathy Johnson
Phone: 473 -5296
SUMMARY: Resolution 3211, approved in December 2013, authorized temporary interfund loans for
cash flow purposes from the General Fund for Fund 204 — 2010 UTGO /LTGO (B), Fund 306 — Park
Plaza Phase II, and Fund 332 — Pacific Avenue Construction. Repayment of loans was to be made
by June 30, 2014. $85,000 has been loaned to the Park Plaza Phase II fund pending receipt of the
final grant reimbursement from the US Economic Development Administration. The grant is currently
in the closeout process. It is requested that the repayment date of the loan be extended to the last
day of the month following receipt of the grant reimbursement.
ATTACHMENTS: Resolution No. 3222
FISCAL IMPACTS (Include Budgeted Amount): Additional interest charges estimated to be less
than $100 will be paid from the project fund.
STUDY SESSION AGENDA: ❑x No Presentation ❑ Full Presentation
STUDY SESSION ACTION: x❑ Consent Agenda ❑ General Business ❑ Public Hearing
RECOMMENDED MOTION: Move to approve Resolution No. 3222 amending Resolution No. 3211
relating to interfund loans for the Park Avenue Plaza Project.
COUNCIL ACTION: [Approve ❑ Deny ❑ Table ❑ Continue ❑ No Action
Form Updated 01/25/13