Public Hearing: YES ☐ NO ☒ Department: Finance
SUBJECT:
Title
Commission District(s): All Commission Districts
Revise the net proceeds from the Pleasantdale Park transaction to account for $3,511 in closing costs related to the purchase of 2.4 acres of Margaret Harris Comprehensive School and 2.8 acres of Rehoboth Park approved on 12/5/2017.
Body
Information Contact: Zachary Williams, COO
Phone Number: 404-371-2174
PURPOSE:
To revise the funds remaining from the sale of 7.35 acres of Pleasantdale Park for use in the acquisition, construction, development, improvement, and equipping of parks and recreation projects or of transportation projects.
NEED/IMPACT:
$3,511 reduction in funds remaining from the sale of 7.35 acres of Pleasantdale Park allocated to capital projects in County parks and transportation, which will continue investment into the County’s greenspace, recreation opportunities and mobility.
FISCAL IMPACT:
Funding to be appropriated to a designated fund for parks
and transportation projects in Districts 1, 3, 4, 5, 6 & 7: TOTAL PER DISTRICT
Total before closing costs $2,016,650 $336,108
Less closing costs ( 3,511) (585)
Total net of closing costs $2,013,139 $335,523
Resulting in a balance of $335,523.00 per districts 1, 3, 4, 5, 6 & 7
RECOMMENDATION:
Recommended Action
Approve the revision of the net proceeds from the sale of 7.35 acres of Pleasantdale Park as indicated in the fiscal impact section of this agenda item.