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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 K ' D ar[ment sad Managers Comments: RP vdradgppo�dbyFnacrl lkr as City Manages Associated Informations n is Kfiorl Budget Approval: Finance Director Legal Approval: - MM City Solicitor Introduced For Rf passage First Reading W Referral FMNb`la Page—L—Of I ca -foam 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