Title
Approval to request refund for LGIP funds deposited for SR-28/US 127 Homesteads Project
Body
SUMMARY: The City deposited $1,137,597.50 into the Local Government Investment Pool for the SR-28/US 127 Homesteads Project. The balance of the deposit is $1,199,444.72 (includes interest). The project was to relocate utility lines from south of Sawmill Road to Cleveland Street for the road to be widened. In order to receive reimbursement of these funds deposited in 2010 for the project, a formal request needs to be made. The road has recently been paved so it is evident that the road widening project is on hold for at least 15 years until the next paving cycle.
BUDGET ACCOUNT:
Recommended Action
NECESSARY COUNCIL ACTION: Authorize Mayor to make formal request