SUBJECT: Ordinance approving the Fiscal Year 2018 Operating Budget for Leland Woods Redevelopment Authority on behalf of Reinvestment Zone Number Twenty – Two (Leland Woods Zone).
RECOMMENDATION: (Summary)
City Council adopt an ordinance approving the Fiscal Year 2018 Operating Budget for Leland Woods Redevelopment Authority on behalf of Reinvestment Zone Number Twenty – Two (Leland Woods Zone).
The Administration has undertaken a comprehensive review of proposed FY18 TIRZ budgets and recommends approval of the FY18 Operating Budget for Leland Woods Redevelopment Authority (the Authority) on behalf of Reinvestment Zone Number Twenty – Two (Leland Woods Zone).
- Total Operating Budget for FY18 is $54,773, which includes $2,473 for required fund transfers and $52,300 for Project Costs.
- The FY18 Operating Budget includes $29,300 for administration and overhead. The Authority must advise the Chief Development Officer of any budget amendments. Adjustments to the budget of $400,000 or more require City Council approval.
- The FY18 Operating Budget does not have a municipal services charge; the Leland Woods Zone does not have a Capital Improvement Plan (CIP) Budget.
Attachments: FY18 Operating Budget
cc:
Marta Crinejo, Agenda Director
Anna Russell, City Secretary
Ronald Lewis, City Attorney
Gary Dzierlenga, Senior Assistant City Attorney