Explanation
Background: This ordinance authorizes the appropriation of $1,672,030.00 from the unappropriated balance of the 1111 East Broad Street Operations Fund (Fund 294, Subfund 001). This fund is used to support the operations of the facility located at 1111 East Broad Street. This facility is currently in the process of redesign for future use by the Recreation and Parks Department and Technology Department. This ordinance also authorizes the expenditure of $925,000.00 to make payments to Jones Lang LaSalle Americas, Inc., for a building maintenance services contract assumed pursuant to the purchase agreement for the property, as authorized by City Council through Ordinance 1005-2006, passed June 8, 2006.
Emergency action is requested to establish this appropriation authority as soon as possible in order to promote and be consistent with accurate accounting practices.
Fiscal Impact: The ordinance appropriates $1,672,030.00. Fund 294, Subfund 001, will receive cash from rental funds from tenants in the building, a transfer of budgeted moneys from the General Fund, and transfers from the Economic Stabilization Fund in the unanticipated event that other funds are not sufficient. Jones Lang LaSalle Americas, Inc. Contract Compliance Number is 36-4160760, exp. 12/11/2008.
Title
To authorize the transfer of $250,000.00 from the General Fund to the 1111 East Broad Street Operations Fund; to authorize the appropriation of $1,672,030.00 from the unappropriated balance of the 1111 East Broad Street Operations Fund for the Finance and Management Department, Facilities Management Division; to authorize the expenditure of $925,000.00 from the 1111 East Broad Street Operations Fund to make payments to Jones Lang LaSalle Americas, Inc. for a building maintenance services contract assumed pursuant to the purchase agreeement for this property, and to declare an emergency. ($1,672,030.00).
Body
WHEREAS, it is necessary to transfer budgeted ...
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