HomeMy WebLinkAbout2016-06-13 16-256 RESOLVECOUNCIL ACTION
AS AMENDED
Item No. 1Q -2M
Date: June 13, 2016
Item/Subject: RESOLVE, Making an Appropriation of Downtown TIF Funds for Expenditures
to be Made During Municipal Year 2017
Responsible Department: City Manager
Commentary: This resolve will appropriate funds for expenditures to be made from the
Downtown TIF program. As a portion of the 2017 budget, the City Council reviewed all requests for
various capital and operational needs, some of which were recommended for funding from the
Downtown Development District TIF funds. These funds may only be expended for purposes
identified within the TIF application as previously approved by the City Council and the Maine
Department of Economic and Community Development. Allowable projects include those related to
downtown and parking, the waterfront, downtown infrastructure improvements (i.e. sidewalks,
sewers, streets, parks, etc), Bass Park Improvements, Arena debt service, clean-up of the Penobscot
River and allowable TIER III costs. This resolve was reviewed by Council at a budget workshop
meeting.
Department Head
Manager's Comments:
Recommend approval. This resolve reflects will require an amendment by substitution as it
includes additional funding for electrical improvements at Bass Park. LA Pn "
City Manager
Associated Information: Resolve
Budget Approval:
Legal Approval:
Introduced for
Passage
X First Reading
Referral
Finance Director
Page _of_
AS AMENDED
16-256
JUNE 13, 2016
r
Assigned to Councilor Sprague
-- CITY OF BANGOR
�Rq�
(TITLE.) Resolve, Making an Appropriation of Downtown TIF Funds for Expenditures to be Made
During Municipal Year 2017
By the City Council of llie City ofBangor:•
REWLVEl1, that there is hereby appropriated the amount of $3,022,580 from the Downtown
Development District TIF funds for the following purposes:
Debt Service Associated with Parking Structures
$
68,400
Debt Service Associated with Court St Demo
$
122,970
Downtown CEA
$
105,734
Waterfront Reserve
$
50,000
Parking Garage Maintenance Reserve
$
40,000
Downtown Econ Develop Support
$
30,000
Downtown GBCVB Efforts
$
10,000
Downtown Electrical
$
23,150
Penobscot River Clean Up
$
200,000
Pickering Square
$
200,000
Arena Debt Service
$1,100,000
Bass Park Parking Improvements
$
950,000
Bass Park Electrical Improvements
$
75,000
Flashing Pedestrian Crossing Beacon
$
5,000
Main Street Improvements
$
42,326
BE IT FURTHER RESOLVED THAT the Finance Director is authorized to establish the necessary
accounts for these purposes.
FY17 NEW PROGRAM AND CAPITAL REQUESTS
AS AMENDED
16-256
JUNE 13, 2016
New
Fund Operating Improvement
Bond
Department $gam Proaram
Other Capital
Y ff Buda et gesgptg
j=g 2thK Comments
Downtown TIF
Main St Saftey/Bangor Riverwalk
461,630
Y
461,630 42,326 TIF, Balance Grants
Pedestrian Bridge Improvements
250,000
TBD
Kenduskeag Stream Retaining Walls
100,000
TBD
Coal Tar Remediation SAZ
750,000
Y
750,000 Repay with DD TIF Funds
Columbia St Deck Debt Service
68,400
Y
68,400
Arena Debt Service
1,100,000
Y
1,100,000
Court St Demo Debt Service
122,970
Y
122,970
Downtown Sidewalks
100,000
N
Balance of $332K
Cross Center Parking Lot
1,650,000
P
950,000
Bass Park Electrical
75,000
Y
75,000
Pickering Sq Improvements
800,000
P
200,000
Waterfront Reserve
100,000
P
50,000
Penobscot River Remediation
300,000
P
200,000
Downtown Electrical
23,150
Y
23,150
Parking Capital Reserve
80,000
P
40,000
COUNCIL ACTION
Item No. 16-25
Date: June 13, 2016
Item/Subject: RESOLVE, Making an Appropriation of Downtown TIF Funds for Expenditures
to be Made During Municipal Year 2017
Responsible Department: City Manager
Commentary: This resolve will appropriate funds for expenditures to be made from the
Downtown TIF program. As a portion of the 2017 budget, the City Council reviewed all requests for
various capital and operational needs, some of which were recommended for funding from the
Downtown Development District TIF funds. These funds may only be expended for purposes
identified within the TIF application as previously approved by the City Council and the Maine
Department of Economic and Community Development. Allowable projects include those related to
downtown and parking, the waterfront, downtown infrastructure improvements (i.e. sidewalks,
sewers, streets, parks, etc), Arena debt service, clean-up of the Penobscot River and allowable TIER
III costs. This resolve was reviewed by Council at a budget workshop meeting.
Department Head
Manager's Comments:
Recommend approval. This resolve reflects changes reviewed by the Council since its
introduction. It may require an amendment when it returns to the Council if additional changes
are made as the budget is finalized. %,l, ��
City Manager
Associated Information: Resolve
Budget Approval:
Legal Approval:
Introduced for
Passage
X First Reading
Referral
Finance Director
City tolicitor
Page _of_
16-256
JUNE 13, 2016
Assigned to Councilor Sprague
of 8,4
CITY OF BANGOR
tE
(TITLE.) Resolve, Making an Appropriation of Downtown TIF Funds for Expenditures to be Made
During Municipal Year 2017
REWLVED, that there is hereby appropriated the amount of $2,947,580 from the Downtown
Development District TIF funds for the following purposes:
Debt Service Associated with Parking Structures
68,400
Debt Service Associated with Court St Demo
122,970
Downtown CEA
105,734
Waterfront Reserve
$
50,000
Parking Garage Maintenance Reserve
$
40,000
Downtown Econ Develop Support
$
30,000
Downtown GBCVB Efforts
$
10,000
Downtown Electrical
$
23,150
Penobscot River Clean Up
$
200,000
Pickering Square
$
200,000
Arena Debt Service
$1,100,000
Bass Park Parking Improvements
$
950,000
Flashing Pedestrian Crossing Beacon
$
5,000
Main Street Improvements
$
42,326
BE IT FURTHER RESOLVED THAT the Finance Director is authorized to establish the necessary
accounts for these purposes.
IN CITY COUNCIL
JUNE 13, 2016
FI ST READING
CITY CLERK
IN CITY COUNCIL
JUNE 27, 2016
MOTION MADE AND SECONDED FOR PASSAGE
MOTION MADE AND SECONDED TO AMEND BY SUBSTITUION ORDER
16-256 CONTAINED IN THE COUNCIL AGENDA
PASSED
MOTION MADE AND SECONDED FOR PASSAGE AS AMENDED
PAST IED AS AMENDED
M/
UITY CLERljr