Title
Resolution to Amend the Fiscal Year 2021 Council Approved Budget to Appropriate $375,560.00 from the Hampton Roads Convention Center Fund's Unappropriated Bond Interest to the Capital Projects Fund for Maintenance at the Hampton Roads Convention Center
Purpose
PURPOSE/BACKGROUND:
In the Fiscal Year 2020 ("FY20") Capital Budget, City Council approved a total of $925,000.00 for maintenance items at the Hampton Roads Convention Center ("HRCC"). The maintenance items included three components: repairs to the meeting spaces (i.e. ballrooms), generators and parking lot. The meeting spaces (i.e. ballrooms) component came in at a higher than budgeted amount and requires an additional appropriation.
Discussion:
Staff is proposing that the unappropriated bond interest in the HRCC Fund be utilized to cover the increased maintenance costs for the meeting spaces (i.e. ballrooms). Facilitating this action while the HRCC is closed to the public will, no doubt, hasten the completion of the maintenance project which will minimize disruption to events scheduled upon reopening.
Impact:
Appropriate $375,560.00 from the HRCC Fund's Unappropriated Bond Interest to the Capital Projects Fund to complete maintenance projects at the HRCC.
Recommendation:
Approve.
Body
WHEREAS, maintenance to the meeting spaces (i.e. ballrooms) component of the Fiscal Year 2020 ("FY20") maintenance project for the Hampton Roads Convention Center ("HRCC") came in at a higher than budgeted amount; and
WHEREAS, there is sufficient funding, in the amount of $375,560.00, in the HRCC Fund's Unappropriated Bond Interest to cover the FY20 increased maintenance costs.
NOW, THEREFORE, BE IT RESOLVED, that the City Council of the City of Hampton, Virginia hereby amends the Fiscal Year 2021 ("FY21") Council Approved Budget to appropriate a total of $375,560.00 from the Hampton Roads Convention Center ("HRCC") Fund's Unappropriated Bond Interest to the Capital Projects Fund to cover the inc...
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