Agenda Summary
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Requesting authorization to reduce the borrowing appropriation of $89,332,819 for the Poplar Street Project by $2,097,667.05.
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Official Text
To the Honorable City Council:
The Mayor respectfully requests that this Council authorize a reduction in the $89,332,819 borrowing appropriation for the Poplar Street Project approved by the City Council on December 15, 2022 by $2,097,667.05. The reduction of the original authorization is required in light of the City having re-allocated $2,097,667.05 in available and unspent American Rescue Plan Act ("ARPA") State and Local Fiscal Recovery Funds awarded to the City to pay costs of the design, construction, and equipping of the Poplar Street Pump Station located within the Union Square DIF Development District.
Appropriate staff will be available to answer any questions about this bond you may have. Thank you for your consideration of this matter.
Respectfully,
Jake Wilson, Mayor