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Attachment NameAttachment SizeAttachment Date
Size: 17K
Last Updated: 2014/8/28
City of DeBary SealCity Council Meeting
City of DeBary
AGENDA ITEM





Subject:   Resolution 14-15 Approving an Inter-Fund Loan To Construct Public Safety Building

From:        City Manager
Meeting/Hearing Date:  September 3, 2014

Attachments:
(   )  Ordinance
( X)  Resolution
(   )  Other
(   )  Supporting Documents/Contracts


Summary/Highlights

The Council has approved the construction of a Public Safety Building to serve as offices for the VCSO.

Background Discussion

The projected cost of the new building including , construction, parking, architectural and engineering services and landscaping is $1.2 million. The Council has decided to fund the construction with cash reserves rather than obtain conventional financing. To accomplish the construction $1,007,000 from the Franchise Tax fund will be provided through an inter-fund loan to the General Fund and will be repaid over three fiscal years commencing in fiscal year 2015-2016.

During the upcoming fiscal year final payments will be made on existing lease purchase agreements used to construct City Hall and purchase a fire truck. The $400,000 available after payoff will be budgeted to pay the inter-fund loan.


Recommended Motion  

Adopt Resolution 14-15


City Council Action:
(   )  Approved As Recommended
(   )  Approved With Modification
(   )  Disapproved
(   )  Continued Date:

(   )  Other

Modifications:



 
 
City of DeBary, FL
16 Colomba Rd, DeBary, FL 32713
Phone: (386) 668-2040  Fax: (386) 668-4122