Posting Language
Title
Approve an ordinance amending the Fiscal Year 2024-2025 Financial Services Department Capital Budget (Ordinance No. 20240814-007) to increase appropriations by $245,000,000 for development of the Northeast Service Center facility. Funding: Funding is available from the future issuance of tax-exempt general obligation bonds. A fiscal note is attached. Related to Items #14 and #15
Body
Lead Department
Financial Services Department.
Fiscal Note
Funding is available from the future issuance of tax-exempt general obligation bonds. A fiscal note is attached.
For More Information:
Kimberly Olivares, Deputy Chief Financial Officer, 512-974-2924.
Additional Backup Information:
This budget amendment will support the development of the Northeast Service Center (NESC) facility. The facility is anticipated to be approximately 300,000 square feet and will be constructed to allow for future expansion up to 375,000 square feet. The NESC will incorporate vehicle servicing shop areas, warehousing, administrative offices and support functions, outside storage, and vehicle storage that will be merging and consolidating current operations from various separate locations. Funding from this budget amendment will be used for the construction phase of the project.