HomeMy WebLinkAboutResolution No. 255-24 - Resolution - 2025 Destination Medical Center Corporation (DMCC) Capital Budget Amendment
RESOLUTION
Authorizing a Budget Amendment for the 2025 Destination Medical Center
Corporation (DMCC) 2025-2029 DMCC Capital Budget.
WHEREAS, the Destination Medical Center Corporation (DMCC) must adopt an annual
Funding request and a Five Year Capital Plan; and
WHEREAS, the City Council approved the 2025 Destination Medical Center Corporation
(DMCC) Operating Budget, the 2025-2029 DMCC Capital Budget, the DMCC and the
DMC Economic Development Agency (DMC EDA) Working Capital Loan Extensions;
and
WHEREAS, as part of their Bold. Forward. Unbound investment, Mayo Clinic indicated
they will construct Utility Power Underground Infrastructure (UPUI) in the public right-of-
way; and
WHEREAS, the City has identified aging infrastructure and other infrastructure
improvements in the same location that are recommended for upsizing and replacement
to accommodate future growth in alignment with the 2025 Capital Improvement Plan
(CIP) priorities; and
WHEREAS, the associated budget amendment necessary for these identified
infrastructure improvements is $1,600,000; and
WHEREAS, the City Council of the City of Rochester must review and approve the
DMCC’s annual budget.
NOW, THEREFORE, BE IT RESOLVED, by the Common Council of the City of
Rochester that the 2025-2029 Capital Improvement Plan (CIP) for the Destination
Medical Center Corporation totaling $161,530,036, which includes 2025 authorized DMC
funding of $38,486,389 and the 2025 DMC operating budget of $4,675,650 for the DMCC
and DMC EDA, be amended to include in the 2025 DMC CIP an additional $1,600,000
from General State Infrastructure Aid to fund the UPUI and identified aging infrastructure
improvements; and
BE IT FINALLY RESOLVED by the Common Council of the City of Rochester, Minnesota,
that the above listed financing plans are approved and the corresponding amendments
to the 2024-25 Adopted City Budget are authorized.
PASSED AND ADOPTED BY THE COMMON COUNCIL OF THE CITY OF
ROCHESTER, MINNESOTA, THIS __________ DAY OF _______________, 2024.
___________________________________
PRESIDENT OF SAID COMMON COUNCIL
ATTEST: __________________________
CITY CLERK
APPROVED THIS _____ DAY OF ______________________, 2024.
___________________________________
MAYOR OF SAID CITY
(Seal of the City of
Rochester, Minnesota)