HomeMy WebLinkAboutResolution No. 193-23 - Resolution - 2024 Destination Medical Center Corporation (DMCC) Budget - Operating and Capital
RESOLUTION
Adopting a Resolution approving the 2024 Destination Medical Center Corporation
operating budget and 2024-2029 capital budget, as well as the Destination Medical
Center Corporation and the Destination Medical Center Economic Development
Agency 2024 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 2024-2029 Capital Improvement Plan (CIP) for the Destination Medical Center
Corporation totaling $265,917,502 which includes 2024 authorized DMC funding of
$39,565,314 and the 2024 DMC operating budget of $4,318,891 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 _______________, 2023.
___________________________________
PRESIDENT OF SAID COMMON COUNCIL
ATTEST: __________________________
CITY CLERK
APPROVED THIS _____ DAY OF ______________________, 2023.
___________________________________
MAYOR OF SAID CITY
(Seal of the City of
Rochester, Minnesota)