HomeMy WebLinkAboutBudget Amendeo for Laney Walker Galleria Phase ll
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Augusta Richmond GA
DOCUMENT NAME: ~O Dl) Ej I1m....,vs)E 0 .Q O/l LfH\lIio'1 W A-Lk I>~ G A u.€~.1 J't
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DOCUMENT TYPE: Qt::: SO} OlleN
YEAR: ~OO;;2...
BOX NUMBER: llo
FILE NUMBER: 1 [p 30 0
NUMBER OF PAGES: 3
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Resolution
STATE OF GEORGIA
AUGUSTA-RICHMOND COUNTY
AUGUSTA-RICHMOND COUNTY
COMMISSION
BUDGET AMENDMENT NO: 001
IT IS HEREBY ORDERED that the Laney Walker Galleria Phase II Project Fund Budget for the year 2002 be
amended to reflect increased revenue of $142,280.00.
IT IS FURTHER ORDERED that the appropriations be increased by $142,280.00 for project expenditures to be
funded from ~ Section 108 CDBG Program Funds.
REVENUES
Total Increase
$142,280.00
APPROPRIATIONS
Total Increase
$142,280.00
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Approved Augustl5,'2002
BOB YOUNG, MAYOR
AUGUSTA-RICHMOND COUNTY
COMMISSION
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EXHIBIT B
July 15,2002
Mr. George Kolb, Administrator
Augusta-Richmond County
530 Greene Street, Room 801
Augusta, Georgia 30911
Re: Armstrong Galleria Phase IT - Reconciliation of ProJect
Drawdown Account Records
Dear Mr. Kolb:
In our meeting with Eben Jones, Catherine White, Norman Michael,
a.ild Fr~d. Russell' an July 1 0; 2002~ we were ale to r-econcile..the '.
differences in our records and project drawdoWn records at HND.
A detailed review showed that HND had drawn. down funds that Laney
Walker's records did not reflect nor did they have prior knowledge of
these transactions before they took place.
At the conclusion of this meeting, we were able to agree on the balance of
5252,711.48 remaining in the project to be used for construction.
r"".."..n.......+I,~ +h.......;a nnW_ll tfpnc;t nf'$1li1 ""SoS1ofthe totalS395 000
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originally awarded for the construction phase of this project.
As Eben Jones mentioned in his memo of July11, 2002, to you, there are
two options proposed for restoring the deficit: (1) recaptured UDAG
Funds or (2) reprogrammed funds from slow'moving projects (ANIC).
We are, therefore, asking that you send us a courtesy letter, stating that
the 5395,000 have been awarded to Laney Walker Development to
present to our banker so that we may move forward with the construction
phase of this project.
I look forward to hearing from you at your earlie~ convenience. !fyou have
questions regarding this request, I can be reached at (706) 823-9780.
S~K CkJ.l
-Ari.thony- K. d1er, Executive Director
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c. Fred Russell
Catherine White
vi" Eben Jones
Norman Michael
Catherine Maness
Laney-Walker Development Board of Directors
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EXHIBIT C
Memo
To: George Kolb, Administrator
From: Eben Jones
cc: Anthony Chandler, LWDC
Date: 7/11/02
Re: July 10, 2002 Meeting
'On' July :10, 2002 Housing and Neighborhood Development met with staff from Laney Walker
Development Corporation for the purpose of reconciling records pertaining to the Armstrong Galleria
Phase II project. At the conclusion of this meeting we were able to agree on the balance of funds
remaining in the project to be used for construction. We determined that the balance remaining is
$252,721.48.
As you know, the intention of LWDC is to have the $395,000 restored. If we were to do this, the
balance that would need to be replaced is $142,278.52. At this time there are limited sources for these
funds to be reprogrammed from. Two options that I had thought of are:
.__ ....__... _. .._.'._" ... ._., ._____. ........ .._ ._.. ..._ _.. _p_ .......___..... .._p,. _._0 ..... . ...._. .0... "p' ... .
1. Recaptured UDAG
2. Reprogram funds from slow moving projects (ANIC)
I look forward to hearing from you so that we can have this situation resolved in a timely manner.