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Council to consider expanding funding sources after Montgomery Road prepayment reduces FRP line item
Summary
City staff told the Finance, Claims, Budget and Audit Committee that a prepayment of roughly $680,000 reduced the Montgomery Road line in the Financial Recovery Plan and prompted an amendment to add Central Park TIF, public lands and buildings, and a street fund as potential capital sources.
City staff told the Finance, Claims, Budget and Audit Committee that a prepayment of roughly $680,000 reduced the line item for Montgomery Road in the Financial Recovery Plan, materially changing the funding picture for the project and prompting an amendment to add additional capital funds as potential sources.
"What I saw when I [reviewed] the beginning of the April FRP, it was, almost 3,000,000, but the for that budgeted line item in the streets. And then when the FRP actually passed, it was in down to 2.3. There was a road project that was…
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