TO: Mayor and Members of City Council
THRU: Telly C. Whitfield, Ph.D. - Assistant City Manager
FROM: Christopher Cauley - Economic & Community Development Director
Kelly Olivera - Budget & Evaluation Director
DATE: March 28, 2022
RE:
Title
Adoption of Budget Ordinance Amendment 2022-7 and Capital Project Ordinance Amendment 2022-55 to Appropriate Funds for the Murchison Road Redevelopment Project (Catalyst Site - 1
end
COUNCIL DISTRICT(S):
Council District(s)
District 2 - Shakeyla Ingram
b
Relationship To Strategic Plan:
Goal 2: Responsive City Government Supporting a Diverse and Viable Economy
Objective 2.4: Sustain a favorable development climate to encourage business growth
Target for Action 2.4.1: Execute redevelopment and business growth plan for Murchison Road and Bragg Boulevard with beautification of City Gateways
Executive Summary:
Economic & Community Development is requesting that City Council adopt Budget Ordinance Amendment (BOA) 2022-7 to appropriate $220,000 from the General Fund funding balance to support Capital Project Ordinance Amendment (CPOA) 2022-55 for the Murchison Road Redevelopment Project. The project, also referred to as the Catalyst Site - 1, is for the elimination of blight and the assemblage of property for development.
Background:
North Carolina General Statute 158-7.1 allows governments to acquire property for the purpose of economic redevelopment. On January 28, 2013, City Council adopted Resolution 2013-008 (attached) authorizing the City Manager to execute documents pertaining to the acquisition of property in Catalyst Site - 1 of the Murchison Road Redevelopment Plan Area. In the intervening years, the City Council has expanded the footprint to include sites 1A, 1B, and 1C.
On July 1, 2012, City Council initiated the project with an appropriation of $200,000 for the acquisition and clearance of land. Subsequent appropriations have increased the total project budget to $2,615,000. If adopted, the CPOA will increase the total project budget by $220,000 to $2,835,000.
The additional funds will provide Staff with resources to continue the redevelopment and blight abatement efforts along this major corridor and City gateway.
Issues/Analysis:
None
Budget Impact:
The requested BOA will appropriate $220,000 of the General Fund funding balance to provide the transfer to the capital project.
Options:
1. Adopt Budget Ordinance Amendment 2022-7 and Capital Project Ordinance Amendment 2022-55 to fund the requested increase to the project budget.
2. Do not adopt the Budget Ordinance Amendment or Capital Project Ordinance Amendment and provide further direction to staff.
Recommended Action:
Staff recommends that the City Council move to adopt Budget Ordinance Amendment 2022-7 and Capital Project Ordinance Amendment 2022-55 as presented.
Attachments:
• Budget Ordinance Amendment 2022-7
• Capital Project Ordinance Amendment 2022-55
• Resolution 2013-008