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Council approves transfer of 72 Marietta Street from DEAM to Watershed, moves $16.75 million
Summary
The Finance Executive Committee voted to transfer ownership of 72 Marietta Street from the Department of Enterprise Asset Management to the Department of Watershed Management and authorized a $16.75 million transfer from the Watershed R&E fund to the general fund, citing an appraisal and administrative realignment.
The Finance Executive Committee approved an ordinance transferring 72 Marietta Street from the Department of Enterprise Asset Management (DEAM) to the Department of Watershed Management, and authorized a $16,750,000 payment from the Watershed renewal and extension (R&E) fund to the general fund.
CFO (name provided in the meeting) explained the move as an administrative realignment: Watershed has been leasing 72 Marietta from DEAM at about $2 million per year and the administration proposes transferring the asset so Watershed can control the…
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