Agenda Text
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Requesting the repurpose and transfer of $1,500,000 from the Street Reconstruction and Resurfacing Stabilization Fund to the COVID-19 Small Business Emergency Relief Fund.
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Official Text
To the Honorable City Council:
I respectfully request that you repurpose and transfer $1,500,000 from the Street Reconstruction and Resurfacing Stabilization Fund to the COVID-19 Small Business Emergency Relief Fund.
The purpose of the Street Reconstruction and Resurfacing Stabilization Fund is to fund costs attributable to the reconstruction or resurfacing of public ways including the cost of pavement and sidewalks laid at the time of said reconstruction.
The current balance of the Street Reconstruction and Resurfacing Stabilization Fund is $2,063,327.
It is the intent of the Administration to replenish the balance of this fund upon certification by DOR of a new tranche of "Free Cash".
My staff will be available to address any questions you may have. Thank you for your consideration of this item.
Respectfully Submitted,
Joseph A. Curtatone, Mayor