Title of Item:
BUDGET AMENDMENT NO. 08 TO FY 2020 BUDGET FOR PROPRTY ACQUISITION (RC):
RESOLUTION No. 80-2020; A RESOLUTION OF THE BOARD OF THE CITY OF STUART, FLORIDA, AUTHORIZING BUDGET AMENDMENT #8 TO THE FY 2020 BUDGET TO TRANSFER FUNDS FROM THE LEASED PROPERTY FUND OF $1,000,000 TO GENERAL FUND AND TO RECOGNIZE DEBT PROCEEDS OF $5,000,000 FOR THE PURCHASE AND ACQUISITION OF A PROPERTY AT OCEAN BOULEVARD AND OSCEOLA STREET KNOWN AS THE “WELLS BUILDING” IN THE AMOUNT OF $6,000,000 FOR THE REDEVELOPMENT OF THE PROPERTIES; PROVIDING FOR CONFLICTS; SEVERABILITY; PROVIDING FOR AN EFFECTIVE DATE, AND FOR OTHER PURPOSES.
Summary Explanation/Background Information on Agenda Request:
Budget Amendment #08 to the FY 2020 Budgets for the acquisition of a property at Ocean and Osceola
Funding Source:
Leased Property Fund and Debt Proceeds
Recommended Action:
Move approval of Resolution 80-2020 authorizing Budget Amendment 8. | | |