Explanation
Background: The Land Management Fund was created pursuant to Council's adoption of a Land Reutilization Program to provide a depository for funds received from the sale of properties held in the Land Bank and as a source for expenses related to the management, maintenance, acquisition and disposition of these properties.
Due to the reductions in the General and CDBG Budgets, the Land Management Fund will absorb a greater portion of the administrative cost of the Land Management Office. In 2004, $57,000 was appropriated from the Land Management Fund to cover administrative costs.
Emergency action is requested so that expenditures related to the administration of Land Management projects can be charged accordingly.
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Fiscal Impact: This legislation appropriates $107,000 from the unappropriated balance of the Land Management Fund for the administration of the Land Management program. The cash balance of this fund is approximately $277,000.
Title
To authorize the appropriation of $107,000 from the unappropriated balance of the Land Management Fund to the Department of Development to provide funds for the administration of Land Management Office; and to declare an emergency. ($107,000)
Body
Whereas, the Land Management Fund was created pursuant to Council's adoption of a Land Reutilization Program to provide a depository for funds received from the sale of properties held in the Land Bank and as a source for expenses related to the management, maintenance, acquisition and disposition of these properties; and
Whereas, this legislation appropriates $107,000 from the unappropriated balance of the Land Management Fund for the administration of the Land Management program; and
Whereas, an emergency exists in the usual daily operation of the Department of Development, in that it is immediately necessary to provide an a...
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