Title
AUTHORIZE EXPENDITURES OF FUNDS IN EXCESS OF $500,000 FOR REVENUE COLLECTION BASED PAYMENTS MADE UNDER DEVELOPMENT AGREEMENTS AND AUTHORIZE REQUIRED BUDGET TRANSFERS FY2019
PROPOSED ACTION:
Authorize the FY2019 expenditures of funds in excess of $500,000 that are contractually based on actual revenue collection and any FY19 budget transfers needed to pay based on the revenues collected as follows:
Newland Real Estate Group LLC:
100% of Parks - South Impact Fees for Foothills Park reimbursement
100% of Water - South Impact Fees for Rainbow Valley Campus and Booster Station, Northern Solutions, and Surface Water projects reimbursements
100% of Wastewater - South Impact Fees for Rainbow Valley Water Reclamation Facility reimbursement
100% of Fire - South Impact Fees for Fire Station 186 reimbursement
Westcor/Goodyear LLC:
50% of sales taxes collected in Goodyear Centerpoint and Market at Estrella Falls for infrastructure reimbursement.
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(Lauri Wingenroth, Finance Manager-Budget and Research)