Agenda Text
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Requesting the repurpose and transfer of $132,359 from the Algonquin Mitigation 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 $132,359 from the Algonquin Mitigation Stabilization Fund to the COVID-19 Small Business Emergency Relief Fund.
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The purpose of the Algonquin Mitigation Stabilization Fund is to fund the complete construction of the street, sidewalk, and related work on the streets stipulated in a mitigation agreement between the City and Spectra Energy-Algonquin Gas Transmission, LLC. dated April 17, 2008. All such work has been completed. The Agreement allows for surplus funds to be used by the City to complete other street and/or sidewalk related projects throughout the City.
This action transfers the remaining balance to the COVID-19 Small Business Emergency Relief Fund.
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