City of Harrisonburg - File #: ID 20-152

• File #: ID 20-152
• Version: 1
• Name: SA - Panos Property
• Type: Supplemental Appropriation
• Status: Passed
• File created: 6/1/2020
• In control: City Council
• On agenda: 6/23/2020
• Final action: 6/23/2020
• Title: Consider a supplemental appropriation in the amount of $2.3 million for the General Capital Projects Fund

Date	Ver.	Action By	Action	Result
6/23/2020	1	City Council	approved on second reading
6/9/2020	1	City Council	approved on first reading	Pass

Subject:

Title

Consider a supplemental appropriation in the amount of $2.3 million for the General Capital Projects Fund

Body

Presented By:  City Staff

Recommendation and Review

As part of the new high school construction, the city entered into a real estate purchase agreement to purchase the former Panos property on South Main Street. The city intends to use a portion of the street frontage of the property for the entrance to the new high school and then subsequently sell the residual of the property. Funding will be provided through a bank loan.