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Council reviewed a proposed $260,000 supplemental appropriation for possible change-order overages on the Broad and Hamilton intersection improvement project. The city could be reimbursed for funds paid upfront after the project closes out and available federal funding is reconciled.
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The $260,000 transfer was discussed as planned funding for the city’s potential responsibility for construction cost increases on the intersection project; it was scheduled for consideration on April 7, not approved in these minutes. Council also reviewed a proposed $24,000 transfer between service department payroll accounts. Economic development staff discussed how community reinvestment areas and tax increment financing can support development while using performance requirements and agreements intended to limit impacts on schools and other services.
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