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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