Agenda Item Title:
Authorize Mayor & Finance Director to sign Life Safety Loan Agreement with Rice 301 Family Properties in an amount not to exceed $59,460
Origination Group:
City Council Working Session
Origination Meeting Date:
03/31/2021
City Council Hearing Date:
04/05/2021
Petitioner:
Rice 301 Family Properties
Staff Contact:
Pauline Sumption, Finance Director
Agenda Item Summary:
This is a life safety loan to Rice 301 Family Properties for a sprinkler system in their building, located at 301 Cambell Street. There are sufficient monies in the fund to approve this request and a Letter of Credit has been received to guarantee the payments.
Funding Source & Fiscal Impact (if applicable):
Funding | Cost Center |
---|---|
0420 | |
Recommendations:
Origination Recommendation Action:
Approve