Consider approval of a request to amend the City of Texas City's fiscal year 2019-20 budget.

A budget amendment is needed to appropriate Texas City Economic Development Corporation (TCEDC) funds to help Mainland Children's Partnership pay for roof repairs at 2000 Texas Avenue.

In TCEDC's July 22, 2020 meeting, Resolution No. 20-18 was approved to provide roofing assistance to Mainland Children's Partnership at 2000 Texas Avenue.

Additional Information:

The Mainland Children's Partnership (MCP) manages and operates the Community Center located at 2000 Texas Avenue.  The Public Facilities is the actual owner of the property, but in an agreement generates no funds from the property - all funds from any leases go to MCP for any maintenance and management with MCP.  However, there is insufficient funds in MCP currently to fund the roof repairs.  The mayor has made an agreement with the MCP that the Public Facilities Corporation will deed the property if the TCEDC pays roughly one half of the roof repairs.  At that point the TCEDC, Public Facililties Corporation and City will no longer have any interest or obligation to assist in the operation of the facility.  In the last 10 or so years, the corporations or city has assisted in painting, signage, parking lot repairs, striping, drainage, etc. to assist in keeping the expenses low for the MCP and its tenants.

Repair estimate is approximately $118,000.
 

This budget amendment is from the TCEDC's unassigned fund balance.

Texas City Economic Development Corporation (Fund 801):
Maintenance-Buildings & Grounds     $118,000.00
Unassigned Fund Balance                ($118,000.00)