HomeMy WebLinkAbout2007-008 EDAR1
Commissioner Kay Lasman introduced the following resolution and
moved its adoption:
EDA RESOLUTION NO. 2007 -08
RESOLUTION TRANSFERRING $230,000 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 EDA/City Council has approved the 2007 Capital Plan for the EBHC
and has identified current year capital needs estimated to cost $179,000; and
WHEREAS, a cash analysis for the EBHC operation for fiscal year ending
December 31, 2006, identifies a cash surplus within a conservative range that would permit the
transfer of $230,000 to the EBHC Capital Fund; and
needs; and
WHEREAS, this transfer is required to meet identified current and future capital
WHEREAS, the unencumbered balance in the EBHC Capital Fund is $198,416.75.
NOW, THEREFORE, BE IT RESOLVED by the Economic Development Authority
in and for the City of Brooklyn Center that it approves the transfer of $230,000. into the Capital
Project Fund to be used for current and future Capital Projects at the Earle Brown Heritage Center
May 14, 2007
Date
President
The motion for the adoption of the foregoing resolution was duly seconded by commissioner
Dan Ryan
and upon vote being taken thereon, the following voted in favor thereof:
Tim Willson, Kay Lasman, Mary 0' Connor, Dan Ryan, and Mark Yelich;
and the following voted against the same: none;
whereupon said resolution was declared duly passed and adopted.