Title
Administrative Order to create a new funding code for the Neighborhood Year-Round Program, perform accounting corrections and establish accounts for approved Neighborhood STAR Year-Round Program projects.
Body
ADMINISTRATIVE ORDER, Consistent with the authority granted to the Mayor in Section 10.07.4 of the City Charter and based on the request of the Director of the Department of Planning & Economic Development to amend the 2010 budget of Fund 930, the Director of the Office of Financial Services is authorized to amend said budget in the following manner:
WHEREAS, the Neighborhood STAR Year-Round Program was developed to fund capital improvements throughout the year to further residential, commercial and economic development in the neighborhoods of Saint Paul; and
WHEREAS, the STAR Neighborhood Investment Initiative Program and Neighborhood Development Program were discontinued, and
WHEREAS, the balances of the Neighborhood Investment Initiative Program, Neighborhood Program Reserve and the Neighborhood Development Program will be incorporated into a new Neighborhood STAR Year-Round Program financing code; and
WHEREAS, accounting corrections are needed on previously awarded Neighborhood STAR projects and to reverse a duplicate transaction for the Neighborhood Development Program; and
WHEREAS, reducing funds dedicated to Midway Stadium allows similar improvements to move forward at Dunning; and
WHEREAS, Year-Round STAR projects were reviewed by the Neighborhood STAR Board and approved by City Council; and
NOW THEREFORE BE IT RESOLVED, that the budget be amended to reflect the Neighborhood STAR Year-Round Program.
Financial Analysis
See attachment.