City of Somerville, Massachusetts - File #: 190080

• File #: 190080
• Version: 1
• Type: Mayor's Request
• Status: Approved
• File created: 9/1/2010
• In control: City Council
• On agenda: 9/7/2010
• Final action: 10/7/2010
• Enactment date: 9/23/2010
• Enactment #: 190080
• Title: Requesting an appropriation of $200,000 from the Capital Stabilization Fund Unallocated Balance Account to the Veteran’s Memorial Ice Rink Revolving Fund for start-up operations for the ice rink.
• Code sections: Stabilization Fund -

Date	Ver.	Action By	Action	Result
10/7/2010	1	City Council	Section 16 Approval
9/23/2010	5	City Council	Approved
9/15/2010	4	Finance	Approved
9/7/2010	3	City Council	Referred for recommendation

  Agenda Text

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Requesting an appropriation of $200,000 from the Capital Stabilization Fund Unallocated Balance Account to the Veterans Memorial Ice Rink Revolving Fund for start-up operations for the ice rink.

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Official Text

To the Honorable Board:

I respectfully request that your Honorable Board approve an appropriation in the amount of two hundred thousand dollars ($200,000.00) from the Capital Stabilization Fund Unallocated Balance (7500-7500000-599900) to the Veteran’s Memorial Ice Rink Revolving Fund (Org. 3115) to fund start-up operations for the ice rink.

This appropriation is consistent with the business plan developed by the Veteran’s Memorial Ice Rink Task force in which $200,000 of seed money would be designated to cover staffing and other operating costs before the ice rink’s revenue streams began generating sufficient income. 

Thank you for your consideration.

Respectfully,

Joseph A. Curtatone, Mayor