SUBJECT: Ordinance approving the Fiscal Year 2017 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 2017 Operating Budget for Leland Woods Redevelopment Authority on behalf of Reinvestment Zone Number Twenty – Two (Leland Woods Zone).
SPECIFIC EXPLANATION:
The Administration has undertaken a comprehensive review of proposed FY17 TIRZ budgets and recommends approval of the FY17 Operating Budget for Leland Woods Redevelopment Authority (the Authority) on behalf of Reinvestment Zone Number Twenty – Two (Leland Woods Zone).
Total Operating Budget for FY17 is $77,365, which includes $2,165 for required fund transfers and $75,200 for Project Costs.
The FY17 Operating Budget includes $45,200 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 FY17 Operating Budget does not have a municipal services charge; the Leland Woods Zone does not have a Capital Improvement Plan (CIP) Budget.
Attachments: FY17 Operating Budget
cc:
Marta Crinejo, Agenda Director
Anna Russell, City Secretary
Ronald Lewis, City Attorney
Gary Dzierlenga, Senior Assistant City Attorney