Fiscal Note
The proposed Resolution amends the 2021 Adopted Capital Budget for the Community Development Division (CDD) by authorizing a transfer of $230,000 of existing budget authority between two CDD capital projects. Under the proposed Resolution, $230,000 of GO borrowing authority from the Men's Homeless Shelter (Major Project 13344) will be transferred to the Temporary Family Shelter (Major Project 13398). Sufficient funding is currently available in the Men's Temporary Homeless Shelter (Project 13345, within Major Project 13344) for this transfer. No additional City appropriation is required.
Title
Amending the 2021 Capital Budget to transfer $230,000 of existing GO borrowing authority from the Men's Temporary Homeless Shelter (Project 13345) to the Temporary Family Shelter (Project 13398) in the Community Development Division Capital Budget.
Body
BACKGROUND
On November 17, 2020, the Community Development Division's 2020 Capital Budget was amended by the Common Council to include up to $500,000 to establish temporary shelter space in the community in response to the COVID-19 pandemic. The funds were primarily budgeted to establish a temporary shelter in the former City Fleet Services Facility at First Street to serve homeless men. Simultaneously, the City of Madison moved forward with the purchase of a property at 4502 Milwaukee Street for use as a temporary shelter for homeless families. Improvements at that site were needed to get that property up to code for occupancy as a mission house prior to leasing the building to The Salvation Army of Dane County for its intended use.
The transferred GO borrowing authority sought by this Resolution will provide the funds needed to finance the necessary improvements at the Milwaukee Street property.
ACTION
NOW, THEREFORE, BE IT RESOLVED, that the 2021 Capital Budget is hereby amended to transfer $230,000 of existing GO borrowing and capital expense authority from the Men's Temporary Homeless Shelter (Pr...
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