HomeMy WebLinkAbout1997-01-13 97-81 RESOLVECOUNCIL ACTION
Date: January 13 1997
Item No. 97-81
Item/Subject: Approprimonof Economic Development Fmld
Rsapomaible Department: Community and Economic Development
Commentary:
Ibis Resolve would appropriate bands for the Economic Development Fund approved by the City Council
at its meeting on December 23,1996. Revenue is derived from the lease of land and buildings located in the arra
in which title restrictions were released by FAA. Thismenuenolongerbastobededicoedtosuppoaoperation
of Bangor International Airport and is available for expenses related to the property, payment of rent to BIA for the
public Works men and for business development assistance. A detail ofreveaues and expenses is attached
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Budget Approval:
Finance Director
Legal Approval:
- MM City Solicitor
Introduced For Rf passage First Reading W Referral
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0 Assigned Co councilor Saucy Janus" 13, 1997 97-81
CITY OF BANGOR
(TITLE.) P00117P,. Appropriation fEconomic Development Fund
BY city Caaaell af61e caro of0anger:
RIMLVRD.
The following budget is hereby appropriated for the Economic Development Fund
for the period January 1, 1997 to lune 30, 1999:
REVENUES
Rental Revenue ..............................................
$86,723
EXPENSES
Supplies ....................................................
$ 3.000
Contractual Services ................._ .....................
26,283
Interfand Charges .............................................
28,000
Tares & Assessment .......................................'.....
3,115
Business Development Assistance ................................
17,644
Miscellaneous. __ ....... --- ......................
:....... 8.691
TOTAL EXPENSES
$86,713
97-8l
ECONOMIC DEVELOPMENT FUND
APPROPRIATION RESOLVE DETAIL
EDFund 01MM7
January 1, 1997
to
Projected
REVENUES
June 30, 1997
Rurm
Annual
Busset
Land Leases
$9,373
$18,747
Building Leases
77.360
1sa 980
Total Revenues
$86,713
$173,427
EXPENSES
Supplies
Fuel Oil
$1,000
$2,000
Electricity
29ID1
4,400
Subtotal Supplies
$3,000
W 000
Contractual Semice
Property Management Fee (BanAir) 25% of Revenues
$21,678
$43,357
Maintenance
2,600
5,200
Cleaning
480
960
Plowing
500
1,000
Water and Sewer Fees
500
1,000
Insurance
525
1 054
Subtotal Contractual Services
$26,283
$52,567
mterfuna Chargee
Rent Payable to BIA for Public Works Area
$28,000
556,000
Reimbursement to BIA for Maine Business Park Improvemerrts
$0
IV
Subtotal lnterfunE Charges
$28,000
$56,000
Taxes 8 Assesemencs
Taxes Include0 in Rent Paid to City
53115
K230
Subtotal Taxes B Assessments
$3,115
$6,230
Business Development Assistance
Subtotal Business Development Assistance
$17844
$17,644
$35288
$35,288
Miscallarlapus 10k of Revenues
$8_67].
$17142
Subtotal Miscellaneous
$8,671
$17,342
Total Expenses
173,427
$86,713
EDFund 01MM7
IN CITY COUNCIL
January 13, I997
First Reading
Referred to Finance Coetmittee -
01/21/97
IM)"TY CLERK
n COUNCIL
January 21, 1991
Passed
m c RR
91-81
R E S 0 L Y E
Appropriation of Econamec Development
Psnd