Agenda - 10-15-2013 - 7b - Laserfiche WebLink

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FINANCIAL IMPACT: The total purchase price is estimated at $382,000. Final settlement costs are estimated at $1,500 and will be determined by the closing Attorney. The acquisition of the properties will be made with an appropriation of $382,000 from the General Fund Unassigned Fund Balance. The General Fund Unassigned Fund Balance is approximately $36.5 million. With approval of Budget Amendment #2 (also on the October 15, 2013 Board agenda), $215,539 will have been appropriated from the Unassigned Fund Balance prior to this proposed action to appropriate $382,000. Settlement costs will be paid from existing budgeted funds within the SportsPlex Enterprise Fund. Budget Amendment #2 -C is as follows: Sportsplex Enterprise Fund ($382,000) Revenues for this oroiect- Annronriated for this oroiect- Current FY 2013 -14 FY 2013 -14 Amendment FY 2013 -14 Revised Sportsplex Revenues $2,882,210 $0 $2,882,210 From General Fund $376,450 $382,000 $758,450 Appropriated Fund Balance — S orts lex Fund $710,000 $0 $710,000 Total Project Funding $3,968,660 $382,000 $4,350,660 Annronriated for this oroiect- RECOMMENDATION(S): The Interim Manager recommends the Board: • authorize the Interim Manager and Chair to execute the Purchase and Sale Agreement between the County and the Sellers of property adjacent to the Orange County SportsPlex; • execute the necessary paperwork to close the transaction no later than 30 days after the agreements are fully executed, subject to final County Attorney approval; and • approve Budget Amendment #2 -C in the amount of $382,000 to fund the transaction from the General Fund Unassigned Fund Balance. Current FY 2013 -14 FY 2013 -14 Amendment FY 2013 -14 Revised Personnel Services $1,188,305 $0 $1,188,305 Operations $1,710,355 $0 $1,710,355 Capital $1,070,000 $0 $1,070,000 Land & Associated Costs $0 $382,000 $382,000 Total Costs $3,968,660 $382,000 $4,350,660 RECOMMENDATION(S): The Interim Manager recommends the Board: • authorize the Interim Manager and Chair to execute the Purchase and Sale Agreement between the County and the Sellers of property adjacent to the Orange County SportsPlex; • execute the necessary paperwork to close the transaction no later than 30 days after the agreements are fully executed, subject to final County Attorney approval; and • approve Budget Amendment #2 -C in the amount of $382,000 to fund the transaction from the General Fund Unassigned Fund Balance.