Title
Consideration of and action on an ordinance amending the Fiscal Year 2018-2019 General Fund Budget for the purchase of real property.
Body
Summary:
Fiscal/Budgetary Impact: At this time, the City has the opportunity to purchase real property for the purpose of one day constructing a new Fire Station #2. This property, located at 518 E. Pasadena Boulevard, is owned by Kit S. Maybin and Charles M. Maybin and is described as Lot 16A, Deer Park Overlots, Harris County, Texas.
It is necessary to amend the Fiscal Year 2018-2019 General Fund budget in the amount of $265,000.00 to accommodate this transaction, to be funded by the unassigned fund balance of the General Fund.
Fiscal Budget Impact:
Increase the Fiscal Year 2018-2019 General Government budget for the amount of $265,000.00 for the purchase of real property for the future construction of a new Fire Station #2 (Account 010-105-4901, Land and Land Rights) to be funded by the unassigned fund balance of the General Fund, which is available for this purpose.
Recommended action
Approve the ordinance amending the Fiscal Year 2018-19 General Fund Budget for the purchase of real property.