Title
Legend Estates Project
Proposed Motion
That Council approve a transfer of $102,000 from the Long Term Sustainability Restricted Surplus to fund expenditures for the Legend Estates Project, as presented.
Body
Administration Recommendation
Administration supports the proposed motion.
Purpose
To ensure that required funding is properly allocated for the Legend Estates Project.
Summary
The project budget approved by Council for the Legend Estates project is $1,392,000. $786,365 of the total approved project budget was included in the 2020 budget year. An additional $102,000 is required in 2020 to complete this project; for a total project cost of $888,365 well under the original approved budget. This request for funding will allow funds to be transferred from Restricted surplus to complete the project in 2020.
Strategic Plan/Policy/Legal/Staff
Complete Communities and Respected Environment
Financial Impact:
Cost: $102,000
Source of Funding: Long Term Sustainability Restricted Surplus