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HomeMy WebLinkAbout2009-06-08 09-196 RESOLVEVVYI�ViL Mt.1 iV Item No. J q .0 9 b Date: June 8, 2009 Item/Subject: RESOLVE, Making an Appropriation of Downtown TIF Funds within the Capital Fund. Responsible Department: City Manager Commentary: As a portion of the 2010 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. The Downtown TIF District is expected to generate $2,448,000 in FY 2010. 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 parking structures, the waterfront, downtown parks, docking facility, downtown infrastructure improvements (i.e. sidewalks, utilities etc), clean up of the Penobscot River and the multipurpose arena. Department Head Manager's Comments: Recommend approval. This resolve may require an amendment when it returns to the �Council if additional changes are made as the budget is finalized. �l l/ &' �A/Z City Manager Associated Information: Budget Approval: Legal Approval: Introduced for Passage X First Reading Referral Finance Director /Y/� ity Solicitor Page _of_ 09 i �f BAC S pyo, Assigned to Councilor- D'Errico June8, 2009 CITY OF BANGOR A'IT EDI �- (TITLE.) Resolve, Making an Appropriation of Downtown TIF Funds within the Capital Fund for Expenditures to be Made During Municipal Year 2010 By the City Council of the City of Bangor., RESOLVED, that there is hereby appropriated the amount of $2,441,681 from the Downtown Development District TIF funds for the following capital purposes: Debt Service Associated with Parking Structures $ 85,000 Waterfront Park Improvements $400,000 Parking Garage Maintenance $308,381 Columbia St Parking Deck $635,000 Downtown Sidewalks $ 50,000 Pay by Space Equipment $ 20,000 Minor Downtown Projects $ 15,000 Sidewalk -- Courthouse $156,300 Atter Lot $ 47,000 Barn Replacement $400,000 Penobscot River Clean Up $325,000 BE IT FURTHER RESOLVED THAT the Finance Director is authorized to establish the necessary accounts for these purposes. i9b IN CITY COUNCIL June 8, 2009 First Reading t 41&TYC-6-ER-K IN CITY COUNCIL June 22, 2009 Motion Made and Seconded for Passage Motion Made and Seconded to Amend by Substitution Passed Motion Made and Seconded for Passage as Amended Passed As Amended Dkf CITY CLERK # 09 198 RESOLVE (TITLN-NAKING AND APPROPRIATION OF DOWNTOWN TIF FUNDS WITHIN THE CAPITAL FUND FOR EXPENDITURES TO BE MADE DURING - MUNICIPAL YEAR'20I0 (FIRST READING) Assigned to Councilor.. I f 09-196 J 84�s. As Amended CITY OF BANGOR 4tED" (TITLE.) Resolve, Making an Appropriation of Downtown TIF Funds within the Capital Fund for Expenditures to be Made During Municipal Year 2010 By the City Counal of the City of Bangor RESOLVED, that there is hereby appropriated the amount of $2,573,381 from the Downtown Development District TIF funds for the following capital purposes: Debt Service Associated with Parking Structures $ 85,000 Waterfront Park Improvements $400,000 Parking Garage Maintenance $308,381 Columbia St Parking Deck $635,000 Downtown Sidewalks $ 50,000 Pay by Space Equipment $ 20,000 Minor Downtown Projects $ 15,000 LED Streetlights $275,000 High/Middle & AtIer Lots $ 60,000 Barn Replacement $400,000 Penobscot River Clean Up $325,000 BE IT FURTHER RESOLVED THAT the Finance Director is authorized to establish the necessary accounts for these purposes.