AGENDA #4d
TO: Mayor and Town Council
FROM: W. Calvin Horton, Town Manager
SUBJECT: Budget Amendment to Accommodate Market Appraisals for the Police Headquarters and 100 West Rosemary Street
DATE: January 24, 2000
The attached budget amendment ordinance would move $5,500 from General Fund contingency to the Council’s budget to accommodate market appraisals of two Town-owned properties.
At the January 10, 2000 Council Meeting, the Board of Directors of the Interfaith Council (IFC) asked the Town Council about the availability of two Town-owned properties for use as IFC facilities. The Council indicated that it needs to know the market value of both properties before considering the request.
We have talked with several appraisal firms and have concluded that we will be able to have market appraisals completed for both properties for a total of $5,500.
The attached budget amendment would move the funds from the General Fund contingency account to the Council’s budget to pay for the two appraisals.
The Town Manager recommends adoption of the attached ordinance.