Laserfiche WebLink
Item No. 11 <br />memorandum <br />TO: City Council <br />John Godwin, City Manager <br />FROM: Michael Paris, PEDC Executive Director <br />SUBJECT: PEDC 2015 -2016 BUDGET AMENDMENTS <br />DATE: January 26, 2016 <br />BACKGROUND: The PEDC Board has requested that the following amendments to its <br />2015 -2016 Budget be approved by the City Council as required by the PEDC bylaws. Attached <br />to this memo you will find a two column presentation of the current PEDC budget and the <br />amended PEDC budget amounts. The changes are necessitated by the hiring of an Executive <br />Director, moving and relocation expenses for the new Director, the use of contract labor for <br />office staff, adding three Projects under the Direct Business Incentives, taking out the incentive <br />amount for J Skinner New Hires, and adding to the Capital Expenses for 2305 NW Loop 286. <br />STATUS OF ISSUE: The PEDC Board has approved the changes and requests that the City <br />Council approve them as well. <br />BUDGET: These amendments do not increase the total PEDC budget. <br />RECOMMENDATION: Motion to approve the requested amendments to the 2015 -2016 PEDC <br />budget. <br />