HomeMy WebLinkAboutIII (H) Approval and Authorization to Transfer Funds ($43,084.29) from the Hackney Prairie Road Fund to the Road Impact Fund AGENDA 2-04-97
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CITY M ANACER
FR Of G009 ELLIS SHAPIRO
MEMORANDUM
TO: The Honorable Mayor and Board of City Commissioners
FROM: Wanda B. Horton, Finance Directorcd'iL5tf
DATE: January 29, 1997
RE: Transfer of Funds from Hackney Prairie Road Fund
During fiscal year 1990 funds received from the developers of Forest Oaks as their
contribution towards the design costs for the improvement/paving of a designated portion
of Hackney Prairie Road were deposited into a separate fund. A year ago the City
Commission decided not to complete this part of the road thereby freeing up these funds.
On the agenda for the February 4'i commission meeting is a developer's agreement with
Imperial Partnerships which provides for road impact fee credits totaling $56, 447.64 as
reimbursement for engineering and design fees associated with the I Iackney Prairie Road
project. Since expenses are being incurred,the staff wishes to use the remaining funds in
the Hackney Prairie Road Fund to pay for a portion of these road impact fee credits. The
City Attorney has advised me that this is legal upon approval by the City Commission.
Action Requested
The Honorable Mayor and Board of City Commissioners authorize the transfer of funds
($43,084.29) from the Hackney Prairie Road Fund to the Road Impact Fund.