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Committee backs reallocating $6.5 million in 2024 bond funds for CSA site plan
Summary
Staff asked the committee to reallocate $6.5 million from existing 2024 bond funds toward the CSA site plan; the committee recommended the reallocation and will forward a resolution to the board.
The Budget and Finance Committee recommended that the Board of Mayor and Aldermen approve a reallocation of 2024 bond proceeds to fund the CSA site plan.
Miss Holden said the request was the result of the capital projects meeting and asked the committee to approve moving $6,500,000 out of $11,000,000 in existing 2024 bond funds (18.75 bond funds) to cover the CSA site plan. “So that 6,500,000 is currently sitting in adequate facilities. It would now come out of that 11,000,000 out of, $18.75 bond funds,” she said, describing the reallocation request that staff intends to send to the board as a resolution.
A committee member moved to recommend the reallocation; the motion carried on a voice vote. Staff said the item would be presented to the full board as a resolution tonight.
