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Approval of budget adjustment to appropriate funding for the acquisition of the convenience store located at 1081 NW 27th Avenue, Pompano Beach, FL 33069.
(Fiscal Impact: $534,670)
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(Staff Contact: Andrew Jean-Pierre/Cassandra LeMasurier)
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Summary Explanation/Background:
The City Commission previously approved acquisition of the convenience store located at 1081 NW 27th Avenue on February 26, 2019 (see attached Resolution 2019-124) for the McNair Park G.O. Bond project. The court entered an Order of Taking November 30, 2020. The City vested in title for the property December 8, 2020 upon depositing the required funds with the Court, which was within the time allotted for this acquisition. Approval of this budget adjustment will align our current budget for land acquisitions to reflect this acquisition.
Origin of request for this action: Finance
Fiscal impact and source of funding: $534,670 from General Fund Fund Balance with the attached budget adjustment.
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