Title
Resolution Amending A Budget Note to Clarify the City of Hampton, Virginia's Purpose of Funding Events and Marketing in the Phoebus Area
Purpose
PURPOSE/BACKGROUND:
During the fiscal year 2017 annual operating budget approval process, the City Council approved via a Budget Note $20,000.00 to be made available to the Phoebus Partnership pursuant to terms to be established by the Department of Economic Development. Those funds are currently housed in the Department of Economic Development's General Fund operating budget. The purpose of this amendment is to delete reference to the Phoebus Partnership in order to allow the Department of Economic Development greater flexibility in fulfilling the City’s purpose.
Discussion:
This resolution clarifies the purpose of the City’s one-time designation of funding for the Phoebus Partnership. In a Budget Note on page 8-12 of the City Manager’s FY17 Council Approved Budget, funding in the amount of $20,000.00 included in the operating budget of the Department of Economic Development is to be made available to the Phoebus Partnership, the terms of which would be determined by the Department of Economic Development. The underlying purpose for this designation was to provide funding for marketing and events in the Phoebus area.
It has since been determined that this purpose may be best accomplished if the Department of Economic Development is given more flexibility in its use of those funds for that purpose. Accordingly, the Budget Note shall be amended to restate the intended purpose of the funding, rather than limiting the recipient of the funding to a single entity (the Phoebus Partnership).
Recommendation:
Rec
Approve.
Body
WHEREAS, the City Council of the City of Hampton, Virginia approved for the fiscal year 2017 annual operating budget designated funding in the amount of $20,000.00 included in the operating budget of the Department of Economic Development is to be made available to the Phoebus Partnership, the terms of which would be determined by the Department of Economic Development;
WHEREAS, the intent of City Council in approving the aforementioned funding was to provide resources for marketing and events in the Phoebus area;
WHEREAS, it has since been determined that purpose is best accomplished if the Department of Economic Development is given more flexibility in its use of those funds for that purpose, rather than limiting the possible expenditure of those funds to only the Phoebus Partnership; and
WHEREAS, the Budget Note will be amended to restate the intended purpose of the funding.
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Hampton, Virginia amends the Budget Note included in the approved FY17 operating budget for the Department of Economic Development to delete the requirement that $20,000.00 be made available to the Phoebus Partnership and to add the requirement that the Department of Economic Development use funding in the amount of $20,000.00 to promote marketing and events in the Phoebus area of the City of Hampton.
BE IT FURTHER RESOLVED that the City Council authorizes the City Manager, or her designee, to take the necessary steps to implement this budget amendment.