Title
Moving certain closed STAR project balances from the Neighborhood STAR Program to the Neighborhood STAR Year-Round Program
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, from 2004 through 2010 twenty-seven (27) Neighborhood Investment Initiative STAR Program projects either never moved forward or were completed under budget; and
WHEREAS, the remaining balances from these projects were credited to the Neighborhood STAR Program via Council Resolution or Administrative Order; and
WHEREAS, the balances from these previously closed accounts are now being moved from the Neighborhood STAR Program to the Neighborhood STAR Year-Round Program; and
NOW THEREFORE BE IT RESOLVED; that the budget be amended to reflect the Neighborhood STAR Program and the Neighborhood STAR Year-Round Program.
Financial Analysis
See attachment