Title:
Revolving Funds Funding Request - Historic Landmarks Commission
Summary
ACTION:
Recognize and appropriate $45,000 from the Historic Landmarks Commission Revolving Fund for due diligence costs for several properties that may include earnest money, facility assessment reports, environmental reports, and attorney fees
Staff Contact: Dr. Dan L. Morrill, Consulting Director
Presentation: No
BACKGROUND/JUSTIFICATION:
Due to the large number of historic property acquisitions for which due diligence must be performed this fiscal year, the Historic Landmarks Commission (HLC) needs to utilize funds from the HLC Revolving Fund. This request furthers the HLC’s mission of recommending the designation of properties for historic landmark designation and to secure the preservation of same through buying and selling endangered historic landmarks. Funding for due diligence includes funds for earnest money, facility assessment reports, environmental reports, attorney fees, and other related expenses for due diligence performed around historic property transactions.
PROCUREMENT BACKGROUND:
It is HLC policy to evaluate structures prior to determining whether they will recommend acquisition of said structures.
POLICY IMPACT:
N/A
FISCAL IMPACT:
The $45,000 funding for this due diligence process will come from the existing Historic Landmarks Commission Revolving Fund, and does not require any other County funds.