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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: Introduced In Council
File created: 11/24/2025 In control: Finance and Personnel Committee
On agenda: Final action:
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 from the Land Account in Tax Increment District (TID) 14 to purchase property at 90 Reichert Court. Staff Recommendation: That the Mayor, Finance Director, Clerk, City Attorney, or their designees be authorized to utilize up to $500,000.00 from the Land Account 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
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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 from the Land Account in Tax Increment District (TID) 14 to purchase property at 90 Reichert Court.

 

Staff Recommendation: That the Mayor, Finance Director, Clerk, City Attorney, or their designees be authorized to utilize up to $500,000.00 from the Land Account 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.