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File #: 191379    Version: 0
Type: Resolution Status: Passed
File created: 12/17/2019 In control: COMMON COUNCIL
On agenda: Final action: 1/21/2020
Effective date:    
Title: Resolution increasing the capital appropriation for the 2020 Developer-financed Sewer Maintenance Fund Capital Program.
Sponsors: THE CHAIR
Attachments: 1. Hearing Notice List

Number

191379

 

Version

Original

 

Reference

 

Sponsor

THE CHAIR

 

Title

Resolution increasing the capital appropriation for the 2020 Developer-financed Sewer Maintenance Fund Capital Program.

 

Analysis

This resolution authorizes an increase in authority of $2,500,000 for the Sewer Maintenance Fund Developer Revenues account. All expenditures for projects in this account will be reimbursed by the developer.

 

Body

Whereas, The City of Milwaukee’s Department of City Development entered into additional developer agreements.  As part of these agreements, the Sewer Maintenance Fund will pay the upfront project costs and will be reimbursed in full by the developer; and

 

Whereas, The Sewer Maintenance Fund Capital Budget for the year 2020 did not include funding for this activity; and

 

Whereas, $2,500,000 of budget authority is needed for the Sewer Maintenance Fund to enter into the contract to complete the work; and

 

Whereas, The cost of this projects will be reimbursed by the developer and there will be no additional cost or General Obligation borrowing by the City; now, therefore, be it

 

Resolved, By the Common Council of the City of Milwaukee, that the City Comptroller is authorized to increase the Developer-financed Sewer Maintenance Fund, Account No 0491-5010-R999-SM49214000A, by $2,500,000 to be reimbursed by the project developer.

 

Requestor

DOA Budget and Management Division

 

Drafter

BC: ns

December 11, 2019