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Council committee approves moving $300,000 from stalled deconstruction account to Housing Infrastructure Preservation Fund
Summary
The Finance & Personnel Committee approved two linked resolutions to suspend expenditure authority in a deconstruction account and authorize up to $300,000 in contingent borrowing for the Housing Infrastructure Preservation Fund, shifting unused deconstruction-designated funds to restoration/infrastructure preservation work.
The Finance & Personnel Committee approved two related resolutions Jan. 15 that shift $300,000 from a restricted deconstruction capital account into the Housing Infrastructure Preservation Fund run by the Department of City Development.
Sponsor Alderman Robert Baumann said the move would convert money that has been held for deconstruction work — which under a 2019 council agreement was segregated and limited to…
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