Midtown Water Supply Upgrade – 2023 Budget Update
Motion
That Council direct Staff to fund the additional $4,595,259 required for the Midtown Water Supply project in the 2024- 2028 Draft Financial Plan as follows: • $263,750 from the Water Supply DCC’s Fund, • $263,750 from the Water Asset Management Reserve Fund, • $1,967,759 from Water Reserves, and, • $2,100,000 from the Growing Communities Reserve Fund.
This vote follows the minutes. The City’s vote record differs.
Sources
Agenda itemCity agenda
Staff reportPage 1
Purpose
To seek Council direction for the funding of the additional budget required in 2024 to complete the Midtown Water Supply project, Phase 2.
Staff recommendation
That the Finance and Audit Committee recommend that Council direct Staff to fund the additional $4,595,259 required for the Midtown Water Supply project in the 2024 - 2028 Draft Financial Plan as follows: $263,750 from the Water Supply DCC’s Fund, $263,750 from the Water Asset Management Reserve Fund, $1,967,759 from Water Reserves, and $2,100,000 from the Growing Communities Reserve Fund.
DocumentsStaff report about Economic Development