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ADDITION <br /> CABARRUS COUNTY <br /> 1792 <br /> BOARD OF COMMISSIONERS <br /> REGULAR MEETING <br /> FEBRUARY 20, 2017 <br /> 6:30 P.M. <br /> AGENDA CATEGORY: <br /> New Business <br /> SUBJECT: <br /> Infrastructure and Asset Management - Transfer of Funds for Property <br /> Acquisition for the Downtown Parking Deck $260,000 <br /> BRIEF SUMMARY: <br /> After closed session on November 21 , 2016 the Cabarrus County Board <br /> of Commissioners came out into open session and approved the <br /> purchase of property (PIN 5620-97-1220), inclusive of any fees and <br /> payments due to his tenants and authorized the County Manager to <br /> execute the agreement, subject to review and revision by the County <br /> Attorney. The attached purchase agreement was reviewed by the County <br /> Attorney and executed by the County Manager. The $260,000 <br /> expenditure is being requested to be funded from the Capital Reserve <br /> Fund. <br /> REQUESTED ACTION: <br /> Motion to approve the $260,000 transfer of funds from the Capital <br /> Reserve Fund to the Limited Obligation 2017 Capital Projects Fund for <br /> the Downtown Parking Deck property purchase and authorize the Finance <br /> Director to prepare the appropriate budget revision and Capital Project <br /> Ordinances. <br /> EXPECTED LENGTH OF PRESENTATION: <br /> 5 Minutes <br /> SUBMITTED BY: <br /> Susan Fearrington, Finance Director <br /> G-4 Page 130 <br />