Finance Committee Approves Transfer Of An Additional $244,000 In ARPA Funds To City Parking Utility To Cover Lost Revenue

The Finance Committee met 12/11/2023. One of the items they voted on was a request to approve a budget amendment authorizing an additional $244,000 be transferred from the city’s ARPA funds and moved to the city’s Parking Utility to cover lost revenue by the parking utility.

Although the committee only spent a couple minutes discussing this before unanimously approving it, the item is somewhat related to the resolution which the Municipal Services Committee recommended for denial which would have directed staff to find a consultant to help them conduct a study of the city’s publicly-owned parking assets, help them determine best management practices, and create a strategic plan for the parking facilities, a plan that could potentially include the sale or lease of the city-owned parking ramps.

I’ve prepared a transcript of the Finance Committees discussion for download.

Per Director Block, back in 2021, the city had allocated $1.5 million in ARPA funds to cover lost revenue to the parking utility. In 2022, $1.2 million of those funds were moved to the Parking Utility. In 2023, they had budgeted to move the remaining $300,000.

However, staff ended up identifying $244,000 in maintenance projects that could be performed, so they were requesting those funds on top of the $300,000 that had already been allocated. This would allow them to start working on those projects as they moved into 2024.

Alderperson Chad Doran (District 15) asked if they expected to face a similar situation in 2024.

Director Block responded that they would not have any need to transfer funds in the same way as they have done this year. Starting in 2024, the parking utility will start receiving payments from TIF District 3. Additionally, they were going to have “a significant increase in maintenance and capital projects within the parking utility, 2024 and beyond” that would allow them to start making progress on deferred projects.

View full meeting details and video here: https://cityofappleton.legistar.com/MeetingDetail.aspx?ID=1138498&GUID=595541F5-451D-4F5F-A49D-F39674F7C1D5

Follow All Things Appleton:

One thought on “Finance Committee Approves Transfer Of An Additional $244,000 In ARPA Funds To City Parking Utility To Cover Lost Revenue

Leave a Reply

Your email address will not be published. Required fields are marked *