Plymouth Clerk-Treasurer Jeanine Xaver presented a resolution to the Plymouth City Council members Monday night that outlines several new funds to be included in the budget.
The resolution would add the Airport Coronavirus Response Grant Program Fund for general expenses and purchases by the Aviation Department.
The American Rescue Plan Grant Fund would be created as a non-reverting fund for expenses and purchases for the City that follows federal guidelines.
A FEMA FFY20 Grant Fund would hold Hazard Mitigation Program Grant funds. It is a reimbursable grant so $346,000 would need to be transferred into that fund in order to pay for items associated with that grant and the city would be reimbursed. The city is responsible for 20 percent of that grant amount. When the grant is complete, any remaining funds would be transferred back to the Rainy Day Fund.
The River Park Square Phase 2 Grant Fund would hold the deposit of Stellar Communities funds of $700,000, of which $140,000 is the responsibility of the city. The money will be used for expenses related to the project. This is a reimbursable fund so $500,000 will be transferred from the 2000 TIF Tax Money Fund to keep the fund in the black.
The final new fund would create the TIF 7 Pretzels TIF Area that would hold deposits of tax funds received in that TIF area and spent on general expenses and purchases associated with that TIF District.
The Plymouth City Council members approved the resolution creating the new funds with a unanimous vote.
