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ADDED/ Commissioner Brown - EDC - To Appropriate General Fund Balance Toward the Construction of a Vehicular and Pedestrian Pass-through at 212 W. Main Avenue for $400,000
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STAFF CONTACT
Donny Hicks - Economic Development - 704-829-2233
BUDGET IMPACT
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General Fund: Increase fund balance appropriation by $400,000. Increase operating expenditures by $400,000. This is a one-time investment to take place in FY2025.
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BACKGROUND
In 2017, the property located at 212 W. Main Avenue, Gastonia, NC, was sold to CNB1920, LLC as an economic development project by the City of Gastonia. As part of this project, a vehicle and pedestrian pass-through will be constructed. To support the construction of this pass-through, which would provide public benefit to the citizens and visitors in the Downtown Gastonia area, the proposed appropriation of funding from Gaston County in the amount of $400,000.00 is requested.
The City of Gastonia has committed to financially supporting the construction of the pass-through, and staff recommends the approval of the Budget Change Request and authorization for the County Manager, or His Designee, to execute needed documentation to financially support the construction of said project.
POLICY IMPACT
Authorize the County Manager to execute necessary agreements to provide appropriated funding.
ATTACHMENTS
Budget Change Request (BCR), Pass-through Project at 212 W. Main Ave