MOTION TO APPROVE: Approval of Amendment 1 to the Approved MTECC General Fund Budget and Capital Project Fund Budget for fiscal year 2024-25.

This Budget Amendment will not be posted to the Approved MTECC General Fund Budget and Capital Projects Fund Budget for fiscal year 2024-25 until the Tri-Party Agreement is approved by all parties to the Agreement.

This provides the budget authority for MTECC Operating Fund and Capital Project Fund for the Project 4334282 – FORT LAUDERDALE – 17th STREET MOBILITY HUB repaying advances from the General Fund to the Capital Projects Fund of $25,000 and adds the project budget to the Capital Projects Fund for the project to support implementing the Tri-Party Agreement between Broward MPO, City of Fort Lauderdale and MTECC (Note this action is pending final action on the Tri-Party Agreement.)

The Annual Budget provides the authority for MTECC’s activities in delivering projects on behalf of MTECC members.

 

The amended budget makes the following adjustments:

 

· Project activities supported by $6,804,000 Federal grant and $35,000 City funds in a Tri-Party Agreement between the Broward MPO, City of Fort Lauderdale and MTECC.

· Repays the prior advance from the MTECC General Fund of $25,000 for the project.

 

The key amended line items are highlighted in yellow highlights in the attached Exhibit A on pages 5, 7 and 8.

Recommend approval of Amendment 1 to the Approved MTECC General Fund Budget and Capital Project Fund Budget for fiscal year 2024-25.

If you have any questions about this item, please contact Lowell Clary at (850) 212-7771 and claryl@mteccfl.org.