Posting Language
Title
Approve an ordinance amending the Fiscal Year 2023-2024 Seaholm Tax Increment Financing Fund (Ordinance No. 20230816-008) to increase transfers out by $4,411,173 to transfer to the Transportation and Public Works Capital Budget; amending the Fiscal Year 2023-2024 Economic Development Department Capital Budget (Ordinance No. 20230816-008) to decrease appropriations by $8,177,293; and amending the Fiscal Year 2023-24 Transportation and Public Works Capital Budget (Ordinance No. 20230816-008) to increase appropriations by $12,588,466 for Seaholm area mobility and other improvements. Related to Item #11.
De
Lead Department
Transportation and Public Works.
Fiscal Note
Fiscal notes are attached.
Prior Council Action:
April 10, 2008 - Council approved Ordinance No. 20080410-022 to appropriate funds for the Seaholm Redevelopment Project on a 7-0 vote.
June 7, 2012 - Council approved Ordinance No. 20120607-007 to increase appropriations to purchase Seaholm parking garages spaces on a 7-0 vote and Ordinance No. 20120607-008 to increase appropriations for Seaholm Redevelopment District roadways and related infrastructure on a 7-0 vote.
For More Information:
Anthony Segura, Assistant Director, Transportation and Public Works, 512-978-6471; Kimberly Olivares, Deputy Chief Financial Officer, Financial Services Department, 512-974-2924.
Additional Backup Information:
The remaining funds and authorization from prior appropriations for the Seaholm Redevelopment project in the amount of $8,177,293 will be transferred and appropriated to the Transportation and Public Works Capital Budget. In addition, the ending balance of $4,411,173 in the Seaholm Tax Increment Financing Fund will be transferred and appropriated to the Transportation and Public Works Capital Budget. These funds combined at $12,588,466 will allow for investment in Seaholm area mobility and other improvements.