PRES 4 - RES Declaration of Intent to ReimburseReimbursement
Resolution
Protecting our Options
Minimizing our Costs
What is Needed
1. Purchase of land in 2023
2. Ability to roll into 2024 Debt Issue
• Spread total cost over 25M years
Maintenance Facility
1. Authorize budget of $8,000,000 for land
acquisition using on -hand cash
• Downtown Redevelopment Fund $51VI
• Transportation CIP $31VI
2. Land acquisition transactions can close
I Resolution to reimburse allows recovery
at time of debt issuance
4. Debt issuance will amortize total cost
and repay interfund loan
Next Steps
Resolution to Reimburse
• October FEDRAC discussion
• Nov. 8th regular business
LG 047.27792 -
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LG 04TZ7792
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