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File #: 1241-25    Version: A Name: Subject: Communication sponsored by Mayor Mason, on behalf of the Director and Deputy Director of the Community Development Authority (CDA) seeking to utilize funds from the Land Account in Tax Increment District (TID) 14 to purchase property at 90 Reiche
Type: Communication Status: Failed
File created: 11/24/2025 In control: Finance and Personnel Committee
On agenda: Final action: 12/16/2025
Title: Subject: Communication sponsored by Mayor Mason, on behalf of the Director and Deputy Director of the Community Development Authority (CDA) seeking to utilize funds in Tax Increment District (TID) 14 to purchase property at 90 Reichert Court. Recommendation of the Finance and Personnel Committee on 12-08-2025: That the Mayor, Finance Director, Clerk, City Attorney, or their designees be authorized to utilize up to $500,000.00 from TID 14 for the acquisition of 90 Reichert Court and execute any necessary documents to expend these funds for the acquisition of the property by the CDA. Fiscal Note: The price as provided by the current owner is $500,000.00; proposed funding for the acquisition would be from Account #40014 57100 Land, in TID 14. Funds in this amount are currently available in TID 14.
Attachments: 1. ABM-90-reichert, 2. #1241-25 Resolution

Title

Subject: Communication sponsored by Mayor Mason, on behalf of the Director and Deputy Director of the Community Development Authority (CDA) seeking to utilize funds in Tax Increment District (TID) 14 to purchase property at 90 Reichert Court.

 

Recommendation of the Finance and Personnel Committee on 12-08-2025: That the Mayor, Finance Director, Clerk, City Attorney, or their designees be authorized to utilize up to $500,000.00 from TID 14 for the acquisition of 90 Reichert Court and execute any necessary documents to expend these funds for the acquisition of the property by the CDA.

 

Fiscal Note: The price as provided by the current owner is $500,000.00; proposed funding for the acquisition would be from Account #40014 57100 Land, in TID 14. Funds in this amount are currently available in TID 14.