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Tampa council approves $7.35 million reallocation to start Unite Ashley Drive work
Summary
City Council approved moving $5,354,695 in federal transportation grant funds and $2 million from 2016 CIT bond capital funds to the Unite Ashley Drive project and directed further coordination with CRA staff on longer-term financing.
Tampa City Council on Wednesday approved a short-term realignment of funds to begin work on the Unite Ashley Drive project, moving $5,354,695 from a transportation grants capital project and $2,000,000 from the CIT Series 2016 bond capital funds into the Unite Ashley Drive account.
The council action followed a staff presentation from Chief Financial Officer Dennis Rejera, who told council the vote covered “only today’s action” and that the administration still expects the overall project to total about $22 million. Rejera said the city was not asking the council to fund the entire $22 million now and that staff could present different financing scenarios.
Why it matters: council members said they want the project to start this year but asked staff to reduce…
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