Consider approval of a request to amend the fiscal year 2020-2021 budget to appropriate funds for construction of a building for Texas City Professional Firefighters Union Local 1259.

Resolution No. 21-039, is for the Construction Agreement and Promissory Note with the Texas City Professional Firefighters Union Local 1259 for the construction of a building on a site located at the northwest corner of Magnolia Avenue and Elenora Street (33rd Street North).

A budget amendment is required to account for the construction of the building and the receivable due to the City from Texas City Professional Firefighters Union Local 1259 (TCPFU).

The construction of the building will be funded from the City's General Fund unassigned balance and the $500,000 loan will be paid back to the General Fund by TCPFU with a down payment of $25,000 and then monthly payments of $1,400 each.

Construction agreement and promissory note are attached.
 

Budget Amendment:

General Fund (Fund 101):
Land and Building Improvements -TCPFU building   $500,000.00
Unassigned Fund Balance                                        ($500,000.00)

Receivable Due from TCPFU          $500,000.00
Loan Payments                              ($500,000.00)