File #: 19-160    Name: Budget Transfer - Hillsboro Blvd Property Purchase
Type: Motion Status: Passed
File created: 7/2/2019 In control: City Commission
On agenda: 7/11/2019 Final action: 7/11/2019
Title: A MOTION TO AUTHORIZE A BUDGET TRANSFER IN THE AMOUNT OF $406,000 FOR THE PURCHASE OF LAND FROM FUND BALANCE RESERVES, ACCOUNT 0199-9903, TO GENERAL FUND LAND ACQUISITION, ACCOUNT 0198-6100.
Indexes: Budget Transfer, Hillsboro Boulevard Redevelopment, Motion, Purchase Agreement, Real Property

AGENDA ITEM REPORT

TITLE:

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A MOTION TO AUTHORIZE A BUDGET TRANSFER IN THE AMOUNT OF $406,000 FOR THE PURCHASE OF LAND FROM FUND BALANCE RESERVES, ACCOUNT 0199-9903, TO GENERAL FUND LAND ACQUISITION, ACCOUNT 0198-6100.

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BACKGROUND:

This motion will provide a budget transfer to fund the purchase of real property for the revitalization of the City’s Hillsboro Boulevard Corridor.

DISCUSSION:

The City’s intent is to purchase the following real property:

1.                     PROPERTY IDENTIFICATION NUMBER 4842 06 33 0010 ABBREVIATED LEGAL DESCRIPTION: JANIS PLAT 174-18 B TRACT A LESS N 260 TOG WITH TRACT A-1 (BUFFER)

Funding for this purchase will be from fund balance reserves in the General Fund and reimbursed by Broward County.

RECOMMENDATION:

Staff recommends approval of this motion.

FISCAL IMPACT:  N/A