Report Prepared by Sarah Knoester, Management Analyst
Title
SUBJECT: Approval of a Supplemental Appropriation in the Amount of $50,000 From the Unreserved, Unencumbered Fund Balance of the General Fund, Transferring to Fund 450-Streets & Signals CIP and Appropriating the Same in Fund 450-Streets and Signals CIP to Support City Improvements as Outlined in the Arbor Walkway Settlement Agreement and Amended and Restated Easement
REPORT IN BRIEF
Considers approving a Supplemental Appropriation in the amount of $50,000 from the unreserved, unencumbered fund balance of the General Fund, transferring to Fund 450-Streets and Signals CIP and appropriating the same in Fund 450-Streets & Signals CIP to support City improvements as outlined in the Arbor Walkway Settlement Agreement and Amended and Restated Easement.
RECOMMENDATION
City Council - Adopt a motion:
A. Approving a Supplemental Appropriation in the amount of $50,000 from the unreserved, unencumbered fund balance of the General Fund, transferring to Fund 450-Streets and Signals CIP and appropriating the same in Fund 450-Streets & Signals CIP to support City improvements as outlined in the Arbor Walkway Settlement Agreement Amended; and,
B. Authorizing the Finance Officer to make the necessary budget adjustments.
Body
ALTERNATIVES
1. Approve, as recommend by Staff; or,
2. Approve, subject to other than recommended by Staff; or,
3. Deny; or,
4. Refer to Staff for reconsideration of specific items; or,
5. Continue to a future meeting.
AUTHORITY
Merced Municipal Code Title 3 Article III Purchases Over Twenty-Five Thousand Dollars.
CITY COUNCIL PRIORITIES
As provided for in the 2022-2023 Adopted Budget.
DISCUSSION
On December 5, 2022, Council passed Resolution 2022-71 vacating the eastern portion of the Arbor Walkway North Easement, thus reverting development rights back to the property owner at 531 W. Main Street. The property owner of 531 W. Main Street is Dwight Larks and DELCAP.
Per the ter...
Click here for full text