Please indicate below your preference on how to proceed concerning the Housing
Authority's request for infrastructure funding for the Baker Village
Revitalization project. Also attached is an informational sheet from the
Housing Authority.
[ ] Proceed with preparing a resolution to provide the requested funding of
$3,585,000 from the General Fund - Fund Balance in equal payments of $717,000
over 5 years.
[ ] Proceed with preparing a resolution to provide the requested funding
of $3,585,000 from the General Fund - Fund Balance and Enterprise Zone funds
from the acquisition of Housing Authority property.
The amount of Fund Balance utilized would be approximately $2,694,000
distributed in equal payments of $538,800 over 5 years. Acquisition of Phase 5
of the Revitalization project with Enterprise Zone funds is projected to cost
approximately $891,000.
[ ] Additional information is required prior to considering the request. The
following additional information is requested.
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[ ] I do not favor funding the request at this time.
Attachment
Letter from the Housing Authority
No attachments for this document.