HomeMy WebLinkAboutResolution No. 015-04 0/6-04 27-
R E S O L U T I O N
WHEREAS, the Common Council has appropriated funds to the following projects:
Project
• Number Project Description Amount
2530 320-322 South Broadway Bldg Rehab (9, 000.00)
Trf fnds fr J1966 (Future Downtown Dvlpmnt) to J2530 9,000.00
2557 Skyway Improvements (675.41)
Trf fnds fr J1966 (Future Downtown Dvlpmnt) to J2557 675.41
2719 Downtown Streetscape (17,410.00)
Trf fnds fr J1966 (Future Downtown Dvlpmnt) to J2719 17,410.00
2535 Future Skyways 10,999.61
2548 Hotel Project-Library Block 6,621.77
Net Funds Transferred $17,621.38
WHEREAS, the above listed projects have been completed and all costs of said
improvements have been paid.
NOW, THEREFORE, BE IT RESOLVED, by the Common Council of the City of
Rochester, Minnesota in compliance with the Charter of the City of Rochester,
Minnesota, Section 11.10 that:
1. The above named projects shall be discontinued and the remaining
balances in said projects shall be transferred to the following
tax increment projects:
Project
Number Project Description Amount
1966 Future Downtown Development (fr J2535) $ 10,999.61
1966 Future Downtown Development (fr J2548) 207.06
2550 District #2 Tax increment Balances (fr J2548) 6,414.71
. Net Funds Transferred $ 17,621.38
2. The following is a summary of transfers that were recorded in 2003 based
on documentation from various sources. These transfers do not result in
the closure of specific projects. NOW, THEREFORE, BE IT RESOLVED, by
the Common Council of the City of Rochester, Minnesota that the
following transfer amount be officially and formally accepted and
approved.
Project
Number Project Description Amount
1966 Trf fr J2550 (Tax Increment Interest' earnings) $302,619.31
to J1966 (Future Downtown Development)
Net funds transferred $302,619.31
3 . The Director of Finance is hereby authorized and directed
to put into effect the provision of this resolution as of
December 31, 2003 .
Passed and adopted by the Common Council of the City of Rochester,
Minnesota, this 5th day of January, 2004.
President of
said.-Common Council
Attest:
City C rk
. Approved this day of 2004
Mayor of said City
(Seal of the City Of'
Rochester, Minnesota) „