HomeMy WebLinkAboutResolution No. 231-22 - Resolution - 2023 Destination Medical Center Corporation (DMCC) Budgets and Loan Extensions
RESOLUTION
Approving the 2023 Destination Medical Center Corporation (DMCC) operating
budget and 2022-2027 capital budget; and approving the DMCC and the Destination
Medical Center Economic Development Agency 2023 Working Capital Loan
Extensions.
WHEREAS, the Destination Medical Center Corporation (DMCC) must adopt an annual
funding request and a Five Year Capital Plan; and
WHEREAS, the DMCC Funding Request includes the DMCC annual budget, the
Destination Medical Center Economic Development Agency (DMC EDA) annual budget and
work plan, and supports costs incurred by the City of Rochester; and
WHEREAS, the City Council of the City of Rochester must review and approve the DMCC’s
annual budget; and
WHEREAS, the City Council of the City of Rochester must approve extensions of working
capital loans for the DMCC and the DMC EDA; and
NOW, THEREFORE, BE IT RESOLVED, by the Common Council of the City of
Rochester that the 2022-2027 Capital Improvement Plan (CIP) for the Destination
Medical Center Corporation totaling $298,886,404, which includes 2023 authorized DMC
funding of $35,772,013 and the 2023 DMC operating budget of $3,952,122 for the DMCC
and DMC EDA, are approved.
BE IT FURTHER RESOLVED, by the Common Council of the City of Rochester that the
extension of the 2023 working capital loan in the amount of $1,000 for the DMCC and the
2023 working capital loan in the amount of $100,000 for the DMC EDA are approved.
PASSED AND ADOPTED BY THE COMMON COUNCIL OF THE CITY OF
ROCHESTER, MINNESOTA, THIS __________ DAY OF _______________, 2022.
___________________________________
PRESIDENT OF SAID COMMON COUNCIL
ATTEST: __________________________
CITY CLERK
APPROVED THIS _____ DAY OF ______________________, 2022.
___________________________________
MAYOR OF SAID CITY
(Seal of the City of
Rochester, Minnesota)