File #: 2006-0030    Version:
Type: Finance Status: Closed
File created: 1/5/2006 In control: City Council Regular Meeting
On agenda: Final action:
Title: Request to Reserve/Designate Proceeds Gained on Sale of Meadowfield Property and Lombardo for the development of Nowicki Park
Indexes: Finances, Grant, Parks, Policy, Property
Attachments: 1. Agenda Summary.pdf, 2. 0030 FS Resolution.pdf
Title
Request to Reserve/Designate Proceeds Gained on Sale of Meadowfield Property and Lombardo for the development of Nowicki Park
 
Body
Meadowfield Property Resolution
 
Whereas, the land swap of the Meadowfield Drive property for the Adams Road property included an additional net cash payment of $368,829.18 to the City of Rochester Hills;
 
Whereas, there are no monies currently set aside for the development of Nowicki Park; and
 
Whereas, the development of Nowicki Park would add needed recreational amenities that would benefit our citizens;
 
Resolved that the Financial Services Committee recommends that the Rochester Hills City Council to reserve/designate the $368,829.18 from the Meadowfield Drive property sale in Buildings and Grounds (631) Fund's fund balance for development of Nowicki Park, including the potential use as matching funds for grant proposals.