HomeMy WebLinkAbout1996-036 EDAR1
its adoption:
Member Charles Nichols introduced the following resolution and moved
EDA RESOLUTION NO. 96 36
RESOLUTION APPROVING THE FINAL BROOKLYN CENTER ECONOMIC
DEVELOPMENT AUTHORITY BUDGET FOR THE YEAR 1997 PURSUANT
TO MSA CHAPTER 469. 107 SUBDIVISION 1
WHEREAS, the Brooklyn Center Economic Development Authority has considered
the final budget and finds that this budget is necessary for the operation of the Brooklyn Center
Economic Development Authority during the year 1997; and
WHEREAS, there is within the Economic Development Authority the amount of
$1,000,000 from the abolition of the dedicated housing account, which is available to spend on
projects in 1997; and
WHEREAS, there remains in the Economic Development Authority accounts the
amount of $1,630,785 of proceeds from the General Obligation Tax Increment Bonds, Series
1995A which is available to spend on projects during 1997.
NOW, THEREFORE, BE IT RESOLVED by the Economic Development
Authority for the City of Brooklyn Center as follows:
1. that the final budget of the Economic Development Authority for said City is hereby
approved and shall be:
ESTIMATED REVENUES:
General Property Taxes $173,750
Intergovernmental Revenue CDBG 258,971
I.D.R.B. Fees 17,000
Investment Earnings 105,000
Transfer from H.R.A. Fund 139.483
Total Revenue by Source $694,204
APPROPRIATIONS:
Redevelopment $3,066,018
CDBG programs 258.971
Total Appropriations $3,324,989
2. that a copy of this resolution be submitted to the City Council of the City of Brooklyn
Center.
1
RESOLUTION NO. 96 -36
December 16, 1996
Date
The motion for the adoption of the foregoing resolution was duly seconded by member
Kathleen Carmody and upon vote being taken thereon, the following voted in favor
thereof: Myrna Kragness, Kathleen Carmody, Debra Hilstrom, and Charles Nichols;
and the following voted against the same: none,
whereupon said resolution was declared duly passed and adopted.