Subject: Communication sponsored by Mayor Mason, on behalf of the Director and Deputy Director of the Community Development Authority (CDA) seeking to utilize funds in Tax Increment District (TID) 14 to purchase property at 90 Reichert Court. Recommendation of the Finance and Personnel Committee on 12-08-2025: That the Mayor, Finance Director, Clerk, City Attorney, or their designees be authorized to utilize up to $500,000.00 from TID 14 for the acquisition of 90 Reichert Court and execute any necessary documents to expend these funds for the acquisition of the property by the CDA. Fiscal Note: The price as provided by the current owner is $500,000.00; proposed funding for the acquisition would be from Account #40014 57100 Land, in TID 14. Funds in this amount are currently available in TID 14.

What this record is

Amount

$500K

Runs until

Not stated in the agenda text — the term is normally in the signed agreement, attached to the original item ↗

Type

purchase

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Read automatically from the title of the official record. The source document below is authoritative.

Committee

Finance and Personnel Committee

Introduced

November 24, 2025

Passed

December 16, 2025

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