AgdaPkt 2018-02-26 Joint SA PFA - Laserfiche WebLink

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6.2.B. - Page 5 Services Fund's future operations or its capital replacement program. (The resolution for this inter -fund loan is included as Attachment 2.) • Loan $1.7 million from the Parking District Fund at an interest rate equal to the City's investment rate of return. This loan must be repaid to the Parking Fund within ten years, but staff expects the loan to be repaid within the next two fiscal years by transferring $850,000 per year from the General Fund. The Parking Fund currently has $6.3 million in sales proceeds from sale of Block 2, the City parcel on which Crossing 900 was built. In 2012, the City amended Ordinance 785 to allow the City to use these funds for any municipal purpose as determined by the City Council to be in the best interest of the residents of the City. (The resolution for this inter -fund loan is included as Attachment 3.) • Use $100,000 of available Docktown budget in the Capital Improvement Program Fund. Reconciliation of Estimated Total Costs to Funding Sources Relocation of Residential Uses at Docktown Marina Estimated Total Cost Estimated total cost Costs paid through December 31, 2017 Estimated Total Cost Available and Proposed Funding Negative cash balance in Docktown Fund at December 31, 2017 Transfer from General Fund in FY 2017-18 Available Docktown budget in Capital Improvement Program Fund Loan from Equipment Services Fund Loan from Parking District Fund Available and Proposed Funding $20,800,000 ($9,400,000) $11,400,000 ($2,400,000) $6,000,000 $100,000 $6,000,000 $1,700,000 $11,400,000 ALTERNATIVES Council could elect not to approve any or all of these recommended adjustments. The impacts would vary depending upon the circumstances surrounding each specific item.