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HomeMy WebLinkAbout10788RESOLUTION NO. 10788 A RESOLUTION AUTHORIZING THE TRANSFER OF $2,510.19 FROM THE CONTINGENCIES ACCOUNT IN THE 2006 GENERAL FUND BUDGET TO THE OUT OF CYCLE REQUESTS TO FUND THE PURCHASE OF REAL PROPERTY OWNED BY GARY D. MASSEY AND CAROLE J. MASSEY LOCATED AT THE 120 SOUTH MAIN STREET BE IT RESOLVED BY THE CITY COUNCIL OF PUEBLO. that: SECTION 1. The transfer of $2,510.19 from the Contingencies Account in the 2006 General Fund budget to the Out of Cycle Requests Fund is hereby approved. SECTION 2. Said funds shall be dispersed from the Out of Cycle Requests Fund to purchase a portion of vacated property located at 120 South Main Street. INTRODUCED July 24, 2006 BY Randy Thurston Councilperson APPROVED: President of Cit Council ATTESTED BY: CITY CLERK 1 -- 7 7 C: i Background Paper for Proposed RESOLUTION AGENDA ITEM # 10 DATE: July 24, 2006 DEPARTMENT: OFFICE OF THE CITY MANAGER DAVE GALLI, CITY MANAGER DOUG FITZGERALD, ASSISTANT CITY MANAGER TITLE A RESOLUTION AUTHORIZING THE TRANSFER OF $2,510.19 FROM THE CONTINGENCIES ACCOUNT IN THE 2006 GENERAL FUND BUDGET TO THE OUT OF CYCLE REQUESTS TO FUND THE PURCHASE OF REAL PROPERTY OWNED BY GARY D. MASSEY AND CAROLE J. MASSEY LOCATED AT THE 120 SOUTH MAIN STREET ISSUE The City is in the process of planning and developing a City Campus Complex for a majority of the municipal departments and their employees. This conceptual plan will be located on the 100 and 200 blocks of South Main Street. In reviewing the area, a piece of vacated alley owned by Gary D. and Carole J Massey was located and is in need to be purchased. Once this property is obtained, City staff will begin the process of designing and preparing the property for future development. The property is located at 120 South Main Street directly behind the Santangelo property. City Administration and Mr. Massey met to discuss the purchase of said property, and it was agreed that $1,000 would be the selling price. In addition, there is a cost of $750.00 for title insurance information and $760.19 for general property taxes due. Approval of the Resolution. FINANCIAL IMPACT Funds in the amount of $2,510.19 will be transferred from the Contingencies Account in the 2006 General Fund Budget (see attached spreadsheet for the balance in the contingencies account).