Title
Amending the 2016 Central Service Fund - Real Estate Administration and Service Fees budget to provide additional spending and financing for professional land surveying services for the Kellogg Center plat.
Body
WHEREAS, the Office of Financial Services - Real Estate Section ("Real Estate") proposes to amend its 2016 operating budget ("RE Admin and Service Fees Accounting Unit") by establishing additional spending and fnancing in the amount of $35,000 for outside professional land surveyor services required for the proposed Kellogg Center Plat; and
WHEREAS, said plat is needed to establish street and parcel boundaries that more accurately reflect the location of these facilities as constructed in the 1990's; and
WHEREAS, there is currently insufficient spending authority in the 2016 RE Admin and Service Fees Accounting Unit to pay for the necessary land survey work; and
WHEREAS, Real Estate estimates that the total cost to complete the survey work is $35,000; and
WHEREAS, Real Estate proposes additional financing for the project through the use of fund equity from the City’s Central Service Fund, of which the the RE Admin and Service Fees Accounting Unit is a part, and has identified $35,000 of available fund equity in said Central Service Fund; now, therefore be it
RESOLVED, that the 2016 Real Estate Admin and Service Fee Accounting Unit, as heretofore adopted by the City Council, is hereby further amended in the particulars as indicated in the attached Financial Analysis, to finance the proposed Kellogg Center Plat survey work.
Financial Analysis
See Attachment