Title
Ordinance in the Amount of $100,000 Amending General Capital Improvements Fund and General Fund for FY 2016 - 2017
Body
Department: Budget and Evaluation
Council District: 3
Public Hearing: NA
Advertising Date/By: NA
Contact 1 and Phone: Larry Davis, 373-2285
Contact 2 and Phone: Jon Decker, 373-2285
PURPOSE:
To provide a $100,000 grant (second half of $200,000 commitment) to the Carolina Theatre to support various capital improvements. The first $100,000 installment was included in the FY 2015 - 2016 adopted annual budget.
BACKGROUND:
The Carolina Theatre is an historic performing arts center in downtown Greensboro that provides the community a place for arts, education, and entertainment. The Carolina Theatre is staffed by six full-time employees and thirty part-time employees, with a volunteer board consisting on thirty members.
The Carolina Theatre has requested a $200,000 grant for general capital improvements. These improvements include updated and expanded restrooms, upgrades to the concession area, and adding new carpeting.
The first installment was included as part of the adopted FY 2015 2016 annual budget. This ordinance will establish the second $100,000 payment.
BUDGET IMPACT:
This ordinance will increase the general fund budget and will be funded through appropriated fund balance.
RECOMMENDATION / ACTION REQUESTED:
It is requested and recommended that the City Council adopt the attached budget ordinance amending the General Capital Improvements Fund and the General Fund for FY 2016 - 2017 in the amount of $100,000.