HomeMy WebLinkAbout2005-009 EDARits adoption:
Commissioner Kay Lasman
introduced the following resolution and moved
EDA RESOLUTION NO. 2005 -09
RESOLUTION TRANSFERRING $67,000 INTO THE EARLE BROWN
HERITAGE CENTER CAPITAL FUND
WHEREAS, a capital fund for the Earle Brown Heritage Center (EBHC) has been
established to provide an ongoing funding mechanism for capital items; and
WHEREAS, the current unencumbered balance within this fund is $106,000; and
WHEREAS, the 2005 Capital Plan for the EBHC has identified current year capital
needs estimated to cost $150,000; and
WHEREAS, the proposed 2005 Capital Plan includes fiber optic lines and Parking
Lot Improvements as outlined in Exhibit A (attached); and
WHEREAS, a cash analysis for the EBHC operation for the fiscal year ending
December 31, 2004, identifies a cash surplus within a conservative range that would permit the
transfer of $67,000 to the EBHC Capital Fund; and
WHEREAS, this transfer is required to meet the identified capital needs.
NOW, THEREFORE, BE IT RESOLVED by the Economic Development
Authority in and for the City of Brooklyn Center that it approves the 2005 Capital Improvement
Program authorizing the Executive Director to implement said program and authorizes the transfer
of $67,000 from the EBHC Operating Fund to the EBHC Capital Project Fund effective the date
of adoption.
June 13, 2005
Date
President Pro Tem
The motion for the adoption of the foregoing resolution was duly seconded by commissioner
Diane Niesen
and upon vote being taken thereon, the following voted in favor thereof:
Kathleen Carmody, Kay Lasman, and Diane Niesen;
and the following voted against the same: Mary 0' Connor;
whereupon said resolution was declared duly passed and adopted.
RESOLUTION NO. 2005-09 EXHIBIT A
EXHIBIT A
EBHC 2005 Capital Plan
Acquisition Year Estimated Useful Life Estimated Cost Source
Parking Lot Mill Overlay Curb Repair 1989 10 years
Install Fiber Optic Lines to Building New 20 plus years
Total 150,000
118,000 Capital Fund
32,000 Capital Fund