Fiscal Impact
A fiscal note shows the financial impact of a given legislative action.
Springs Manor Expansion Project Financing: 809, 824, and 828 Spring St NE - Fiscal Note
Yes
Community Planning & Economic Development
Dept: 8900220 Fund: 01400
Yes
June 1, 2022 - May 31, 2026
NA
CDBG
These funds are directed towards capital improvement in the Spring Manor high-rise buildings. The City will have no ongoing commitment once the rehabilitation is completed.
The project will close and start construction in 2025.
BUDGET IMPACT
List of revenues and expenditures related to this request
| Request Financing | 2025 | 2026 | 2027 | 2028 | 2029 |
|---|---|---|---|---|---|
| Revenue Sources | |||||
| CDBG | $1,300,000 | ||||
| Total Revenues | $1,300,000 | $0 | $0 | $0 | $0 |
| Expenditures | |||||
| Spring Manor Expansion Project | $1,300,000 | ||||
| Total Expenditures | $1,300,000 | $0 | $0 | $0 | $0 |
| Net Budgetary Impact (Revenue-Exp.) | $0 | $0 | $0 | $0 | $0 |
Not Applicable
Not Applicable