Explanation
BACKGROUND: This ordinance authorizes the appropriation of $1,583,992 within the Special Income Tax Fund and the expenditure of $1,473,992 for the Finance and Management Department, Real Estate Management Office, for rent payments for various lease agreements benefitting the Departments of Public Safety and Development. The requests for the expenditure of the remainder of the appropriation will be will be made, as necessary, in subsequent ordinances for Council approval.
This ordinance authorizes the Finance and Management Director to expend funds for payment of rent for six (6) leases for the Departments of Public Safety and Development and a Memorandum of Understanding (MOU) between Public Safety and the Department of Public Utilities.
The expenditures authorized by this ordinance for the lease renewals and the MOU are itemized in the attached chart.
SEE ATTACHMENT
Fiscal Impact: This ordinance appropriates $1,583,992 from the Special Income Tax Fund for payment of various leases for the fiscal year 2012 and expends $1,473,992 for six (6) leases and one (1) Memorandum of Understanding from the Special Income Tax (Fund 430) in 2012.
Emergency Action: Emergency action is requested to provide funding to allow for timely payment of rents coinciding with the renewal dates for the leases as previously authorized by Council.
Title
To appropriate $1,583,992.00 within the Special Income Tax Fund for the Finance and Management Department, Real Estate Management Office; to authorize the Finance and Management Director to renew, extend, and make rent payments for various lease agreements for the lease of office and warehouse space for the Department of Public Safety and the lease of office space for the Department of Development; to authorize the expenditure of $1,473,992.00 from the Special Income Tax Fund; and to declare an emergency. ($1,583,992.00)
Body
WHEREAS, the Finance and Management Department, Real Estate Management O...
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