HomeMy WebLinkAbout2015-06-08 15-208 RESOLVECOUNCIL ACTION
Item No. 15-208
Date: June 8, 2015
Item/Subject: RESOLVE, Making an Appropriation of Downtown TIF Funds for Expenditures
to be Made During Municipal Year 2016
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 2016 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.
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.
City Manager
Associated Information: Resolve
Budget Approval:
finance Director
Legal Approval:
City Solicitor
Introduced for
Passage
X First Reading Page
_ of _
Referral
15-208
JUNE 8, 2015
Assigned to Councilor Faircloth
dBAV-,
CITY OF BANGOR
4rEo.. I
(TITLE.) Resolve, Making an Appropriation of Downtown TIF Funds for Expenditures to be Made
During Municipal Year 2016
By the City Council of the City of Bangor.•
RESOLVED, that there is hereby appropriated the amount of $2,375,900 from the Downtown
Development District TIF funds for the following purposes:
Debt Service Associated with Parking Structures
$
73,000
Debt Service Associated with Court St Demo
$
124,670
Waterfront Sound
$
15,000
Waterfront Reserve
$
200,000
Parking Garage Maintenance Reserve
$
40,000
Downtown Econ Develop Support
$
30,000
Downtown GBCVB Efforts
$
10,000
Downtown Sidewalks
$
75,000
Penobscot River Clean Up
$
200,000
Pickering Square
$
400,000
Arena Debt Service
$1,000,000
Pierce Park Drainage
$
65,000
Pedestrian Bridge Study
$
20,000
Flashing Pedestrian Crossing Beacon
$
6,000
Atler Lot Parking Kiosk
$
10,500
Main Street Improvements
$
106,730
BE IT FURTHER RESOLVED THAT the Finance Director is authorized to establish the necessary
accounts for these purposes.
IN CITY COUNCIL
JUNE 8, 2015
FIRST READING
CITY CLEAK
IN CITY COUNCIL
JUNE 22, 2015
MOTION MADE AND SECONDED TO POSTPONE TO A SPECIAL CITY COUNCIL MEETING
ON JUNE 29, 2015 AT 5:30PM
PASSED
DEPUTY CITY CLERK
IN CITY COUNCIL
JUNE 29, 2015
MOTION MADE AND SECONDED FOR PASSAGE
PASSED
COUNCILOR PLOURDE RETURNED TO THE MEETIA AT 6:00 PM
CITY CLERK