Title
Consider and take action on a resolution directing staff to produce a spending plan and budget amendment within 28 days in regard to TIRZ 2 and COVID ARPA remaining funds. (Councilman Hicks and Councilman Cones)
Background:
If approved, this item directs staff to produce a spending plan and budget amendment within 28 days in regards to TIRZ 2 and COVID ARPA remaining funds.
With the closing of TIRZ 2, staff estimates between $7.0 to $9.7 million will be remaining as uncommitted funds.
There will be approximately $6 million in uncommitted COVID ARPA funds remaining at the end of FY2023. At Council’s direction, staff can use current public safety salaries as justification to claim the remaining $6 million in COVID ARPA grant funds. Since the salary expense is currently paid from the general fund, moving the expense to ARPA, would free up an equal amount ($6 million) in general fund dollars. This amount could be transferred to the CIP to cash fund (without time or project type restriction) CIP projects at Council’s direction.
Council directs staff to produce a spending plan and budget amendment within 28 days in regards to TIRZ 2 ($7.0 to $9.7 million) and COVID ARPA ($6 million) uncommitted funds as follows:
a. In FY2024, all remaining ARPA funds (approximately $6 million) shall be claimed using public safety salaries, including bringing forward a separate item to change the COVID ARPA plan to remove the DSWWTP Admin, Lab & Ops building,
b. In FY2024, an equal amount to the remaining ARPA funds (approximately $6 million) shall be transferred from the general fund to a new dedicated fund to plan, design, construct, and equip Fire Station 7, along with an agenda item to add Fire Station 7 to the FY2024 capital budget, and
c. Available uncommitted funds from TIRZ 2 will be allocated to the new dedicated fund for Fire Station 7.
Any remaining funds from TIRZ 2 or COVID ARPA after funding Fire Station 7 expenses, will be spent on the following based on prior...
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