title
Ordinance Appropriating Funds for Demolition of 305 & 315 Chestnut Street
Body
LEGISLATIVE INTENT/PURPOSE:
WHEREAS, this ordinance will appropriate funds to demolish the City-owned structures at 305 and 315 Chestnut Street, which have been vacated by the City with the purchase and move to the Skyline Center at 929 N. Front Street; and,
WHEREAS, the demolition of these structures will enhance the City’s disposition efforts and expedite the future redevelopment of the property.
THEREFORE, BE IT ORDAINED:
THAT, the following appropriation is hereby made to the General Fund and the Building Improvements Capital Projects Fund, and sufficient revenues are available to make the appropriation:
General Fund
Appropriation
Econ Dev-305/315 Chestnut Demo $650,000
(10081100 - 545063 ED003)
Propterty/Bldg Insurance ($295,000)
(10081100 - 530952)
Revenue
Transfer in from Building Improvements Capital Projects Fund $355,000
(10009134 - 313340)
Building Improvements Capital Projects Fund
[Capital Balances - 400CB25995]
Appropriation
Transfer to General Fund $355,000
(400CB25995 - IMPBLDGS - XFERS - XFto100)
Revenue
Interest Earnings $355,000
(400CB25995 - 4INVEST - 4INVESTINT - INTEREST)