Requested Agenda Date:
8/13/2024
Requested Agenda Title:
Title
Budget Adjustment: Office of Regional Development Requests $5,567,562 From the Fund Balance of the Corridor Preservation Fund to Pay for Corridor Preservation Project Purchases.
Body
Requested Agenda Item Description: Each year ORD awards $3M in corridor preservation projects but projects are not paid for until the land is actually purchased, and the payment is authorized by the County Council. The timing on project purchases is uncertain. This year $3M was budgeted but $8,567,562 in projects previously awarded have been purchased and approved, and all paid for except $1.5M for Herriman 7300 West which still needs to be paid. Therefore, the budget needs to be increased $5,567,562 which will come from Fund Balance in Fund 130, not the General Fund.
Requested Action: Discussion - Vote Needed
Presenter(s) (with titles): Hoa Nguyen, Council Budget and Policy Analyst
Time Needed: Less than 5 MINS
Is this Item Time-Sensitive and/or Requesting a Time-Certain? No
Requesting Staff Member: Dina Blaes, Regional Development Department Director
Are Supporting Documents Needed for this Agenda Item Request? Yes