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.