G17-3-28-12 TIF-RID Appropriation

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CITY COUNCIL MEETING STAFF REPORT REPORT TO: The Honorable Mayor Patrick Moeller & Members of the City Council REPORT FROM: Mark A. Zimov, Budget Analyst & Ana Ramanathan, Chief Finance Manager AGENDA ITEM: The appropriation of Tax Increment Financing (TIF) and Residential Incentive District (RID) project funds in order to meet obligations and to reapply these resources to economic development‐driven infrastructure needs in the City of Hamilton. POLICY ISSUE Does Council wish to appropriate TIF and RID funds in order to meet obligations to schools, repay the Commercial Revolving Loan Fund (CRLF), and to reimburse the General Fund and certain capital funds for past improvements, reinvesting non‐obligated resources in capital improvements that are designed to promote economic development in the City of Hamilton? APPROVALS/REVIEWS All staff who review this report shall initial and check the appropriate box nce Director of Fina Department Head w Director of La Other: City Manager Other: ORDINANCE OR RESOLUTION To be completed by the Law Department, if necessary Ordinance 1 st Reading – Date: 3/28/2012 Public Hearing Date: nd eading – Date: /2012 2 R 3/28 PRIOR ACTION/REVIEW If this item was discussed on a prior Council agenda or other agenda, please note City Council: Other: CONTRACT Contract Required Additional Document(s) Attached FISCAL IMPACT Budgeted $: 5,799,420 Please see further, more detailed information regarding the fiscal impact in the summary section of this report Expenditure $: Source Funds: TIF & RID Service Payments, Lowes & Wal‐Mart Project Income Tax Meeting Date 12 : March 28, 20 Agenda Item: #G.17 & I.10 POLICY ALTERNATIVE(S) m s a 1. Council ay choose to approve the recommendations as ubmitted, ppropriating the maximum amount of available resources for currently‐planned capital improvements in the City. 2. Council may choose to omit unrestricted portions of recovered revenues from the capital improvement appropriations, thereby directing these funds to the General Fund.

Transcript of G17-3-28-12 TIF-RID Appropriation

 

CITY COUNCIL MEETING STAFF REPORT 

 REPOR     

T TO: The Honorable Mayor Patrick Moeller & Members of the City Council               

REPORT FROM  : Mark A. Zimov, Budget Analyst & Ana Ramanathan, Chief Finance Manager                             

AGENDA ITEM:  The  appropriation  of  Tax  Increment  Financing  (TIF)  and  Residential  Incentive  District (RID)  project  funds  in  order  to  meet  obligations  and  to  reapply  these  resources  to economic development‐driven infrastructure needs in the City of Hamilton. 

 

 

 POLICY ISSUE Does Council wish  to appropriate TIF and RID  funds  in order  to meet obligations  to schools,  repay  the Commercial Revolving Loan Fund (CRLF), and to reimburse the General Fund and certain capital  funds for past improvements, reinvesting non‐obligated resources in capital improvements that are designed to promote economic development in the City of Hamilton? 

 APPROVALS/REVIEWS All  staff who  review  this  report  shall  initial and check the appropriate box 

    nceDirector of Fina Department Head

wDirector of La Other:  City Manager Other: 

ORDINANCE OR RESOLUTION To be  completed by  the Law Department,  if necessary Ordinance  

1st Reading – Date:  3/28/2012

Public Hearing Date: 

nd eading – Date: /2012

2  R3/28

 

PRIOR ACTION/REVIEW If this  item was discussed on a prior Council agenda or other agenda, please note 

City Council:  Other: 

CONTRACT  Contract Required  Additional  Document(s) Attached 

FISCAL IMPACT  Budgeted $: 5,799,420 Please  see  further, more detailed  information regarding  the  fiscal  impact  in  the  summary section of this report Expenditure $: 

Source Funds: TIF & RID Service Payments, Lowes & Wal‐Mart Project Income Tax

M eeting Date 12:  March 28, 20

Agenda Item:  #G.17 & I.10 

 POLICY ALTERNATIVE(S) 

m   s a1. Council  ay choose to approve the recommendations as  ubmitted,  ppropriating the maximum amount of available resources for currently‐planned capital improvements in the City. 

2. Council  may  choose  to  omit  unrestricted  portions  of  recovered  revenues  from  the  capital improvement appropriations, thereby directing these funds to the General Fund. 

 STAFF RECOMMENDATIONS It is recommended that Council appropriate the identified resources in the manner specified below.  This approach will make best  use  of  the  recovered  funds  in  order  to meet  current  obligations  and  address important infrastructure initiatives that promote the City’s Strategic Plan.  Projects that will immediately receive  funding  in  2012  from  TIF  and  RID  projects  are  South  Hamilton  Crossing,  Main  Street Intersections,  and  the  East  High  Street  Corridor  improvements.    Funds  that  are  reimbursed  to  capital unds and the General Fund, as well as direct transfers from TIF funds and the Lowes/Wal‐Mart income ax verification fund are earmarked for use on these projects. ft 

TIF/RID FUND12/31/2011

UNENC'D CASH BALANCE

2012 EST PROJECT

INCOME TAX

FUND 213 CURRENT BALANCE

(50%)

2012 EST TIF/RID

SERVICE PMTS

2012 TOTAL AVAILABLE

RESOURCES2012 SCHOOL

PAYMENTS

X-FER TO FUND 311

FOR S HAM X-ING PROJECT

X-FER TO FUND 311

FOR MAIN ST I-SECTN, S

HAM X-ING

REIMB GEN FUND &

APPROP X-FER TO FUND 311

FOR EAST HIGH ST PROJECT

X-FER FROM INCOME TAX FUND 213 TO

FUND 311 FOR MAIN ST I-

SECTN, S HAM X-ING

REIMB CRLF LOANS

REIMB STREET FUND

281 & APPROP FOR

MAIN ST I-SECTN, S

HAM X-ING

REIMB INFRSTRCTR

RENEWAL FUND 311 &

APPROP FOR MAIN ST I-SECTN, S

HAM X-ING

REIMB WATER

CAPITAL FUND 535

Matandy Steel MPITIE Fund 308 $230,366.89 $40,997.28 $271,364.18 $9,622.36 $261,741.81

Robinson/Schwenn MPITIE Fund 309 1,609.02 1,233.94 2,842.96 2,842.96

Quality Publishing MPITIE Fund 351 10,523.85 8,496.58 19,020.43 2,064.21 16,956.22

Shoppes @ Hamilton MPITIE Fund 352 159,957.12 113,391.63 273,348.75 273,348.75

RID - MPITIE Citywide District Fund 348 243,867.51 115,149.48 359,016.99 359,016.99

RID - MPITIE North District Fund 349 9,208.39 7,799.20 17,007.59 17,007.59

RID - MPITIE South District Fund 350 23,029.19 11,839.22 34,868.41 34,868.41

Lowes MPITIE (TCSD) Fund 303 / 213 1,003,714.11 31,057.00 27,110.52 144,364.30 1,206,245.92 140,476.96 224,100.06 292,267.11 221,532.55 194,657.64 133,211.61

Walmart MPITIE (HCSD) Fund 304 / 213 1,558,960.89 54,956.00 47,972.61 298,110.30 1,959,999.81 1,065,744.64 191,980.29 102,928.61 241,940.67 211,922.20 145,483.39

TOTALS $3,241,236.97 $86,013.00 $75,083.13 $741,381.93 $4,143,715.03 $1,217,908.17 $410,892.98 $416,080.35 $535,090.56 $395,195.72 $2,842.96 $480,429.44 $406,579.84 $278,695.00

SUMMARY OF APPROPRIATION OUTCOMES

CAPITAL RESOURCES APPROPRIATED TO FUND 281 FOR MAIN ST INTERSECTION & S. HAM. X-ING PROJECTS 480,429.44

CAPITAL RESOURCES APPROPRIATED TO FUND 311 FOR MAIN ST INTERSECTION & S. HAM. X-ING PROJECTS $822,660.19

UNRESTRICTED RESOURCES APPROPRIATED TO FUND 311 FOR MAIN ST INTERSECTION & S. HAM. X-ING PROJECTS 395,195.72

UNRESTRICTED RESOURCES APPROPRIATED TO FUND 311 FOR EAST HIGH STREET CORRIDOR & S. HAM. X-ING PROJECTS 535,090.56

RESOURCES APPROPRIATED TO FUND 311 FOR S. HAM. X-ING PROJECT 410,892.98

RESOURCES APPROPRIATED TO WATER UTILITY CAPITAL PROJECTS FUND 535 278,695.00

$2,922,963.90

RESOURCES APPROPRIATED TO REPAY REVOLVING LOAN DEBT 2,842.96

RESOURCESS APPROPRIATED FOR PAYMENTS TO SCHOOLS 1,217,908.17

$4,143,715.03TOTAL - APPROPRIATED RESOURCES FROM TIF FUNDS

SUBTOTAL- APPROPRIATED RESOURCES FOR CAPITAL PROJECTS

APPROPRIATION

UNRESTRICTED AMOUNTS

RESOURCES

  STATUTORY/POLICY AUTHORITY EOR2000‐1‐8,  EOR2000‐10‐115,  EOR2001‐10‐112,  EOR2005‐7‐69,  EOR2007‐5‐44,  EOR2004‐6‐60, EOR2005‐12‐130, EOR2005‐12‐131, EOR95‐3‐16, EOR2005‐9‐97, EOR97‐1‐8, OR2011‐11‐108   

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 FISCAL IMPACT SUMMARY Gross  funds  in  the amount of  $5,799,420  are  appropriated  to  the various  accounts  as  specified below.  Note that some amounts must move between multiple funds before residing in the fund for which they will be expended for a stated purpose.   All values represent adjustments to current budgeted amounts.  Net TIF/RID appropriated resources are $4,143,715. 

FUND A 

CCOUNT DECREASE INCREASE

GENERAL100.001.001 Unappropriated Balance 40,854100.980.900.311 Transfer To Infrastr. Rnwl Fund 40,854 TOTAL GENERAL FUND $40,854 $40,854

SPECIAL REVENUE213.001.001 Unappropriated Balance 372,266 213.100.850.170 MIT Agr/Ver- Talw Schl Dist 32,000213.100.850.175 MIT Agr/Ver- Haml Schl Dist 160,000213.980.900.100 Transfer To Gen Fund 282,133213.980.900.311 Transfer To Infrastr. Rnwl Fund 282,133281.001.001 Unappropriated Balance 480,432 281.100.700.401 Infrastructure Streets 480,432

TOTAL SPECIAL REVENUE FUNDS $1,044,698 $1,044,698

CAPITAL PROJECTS303.001.001 Unappropriated Balance 1,148,080 303.100.850.179 TIF RE Taxes - Talw. Schl Dist 374,577303.980.900.281 Transfer To Street Fund 221,533303.980.900.311 Transfer To Infrastr. Rnwl Fund 418,758303.980.900.535 Transfer To Water Cap Impr Fund 133,212304.001.001 Unappropriated Balance 1,885,338 304.100.850.180 TIF RE Taxes - Ham Schl Dist 1,065,745304.980.900.281 Transfer To Street Fund 241,941304.980.900.303 Trnsfr To Lowes MITIE Talw.Fund 28,266304.980.900.311 Transfer To Infrastr. Rnwl Fund 403,902304.980.900.535 Transfer To Water Cap Impr Fund 145,484308.001.001 Unappropriated Balance 18,264308.100.850.180 TIF RE Taxes - Ham Schl Dist 10,375308.980.900.311 Transfer To Infrastr. Rnwl Fund 7,889 309.001.001 Unappropriated Balance 1,457309.100.850.108 CRLF Loan Payment 1,457 311.001.001 Unappropriated Balance 1,515,687 311.100.107.002 CWIP - Contracted Construction 1,515,687348.001.001 Unappropriated Balance 359,017 348.980.900.311 Transfer To Infrastr. Rnwl Fund 359,017349.001.001 Unappropriated Balance 17,008 349.980.900.311 Transfer To Infrastr. Rnwl Fund 17,008350.001.001 Unappropriated Balance 34,869 350.980.900.311 Transfer To Infrastr. Rnwl Fund 34,869351.001.001 Unappropriated Balance 1,235351.100.850.180 TIF RE Taxes - Ham Schl Dist 1,235 352.001.001 Unappropriated Balance 33,175352.980.900.311 Transfer To Infrastr. Rnwl Fund 33,175

TOTAL CAPITAL PROJECTS $5,014,130 $5,014,130      

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BACKGROUND INFORMATION The City has recently segregated TIF and RID project balances in Fund 303 (OR2011‐11‐108).  This was the  first  step  in  allowing  these  funds  to  be  used  for  their  intended  purposes.      Additional  service payments will be received in 2012 for all active TIF/RID projects, as well as income tax revenue that is no longer shared with school districts, providing an estimated $4,143,715  in total resources.   A portion of these  resources  is  owed  to  school  districts  and  to  the  City’s  Commercial  Revolving  Loan  Fund.    The remaining  resources  are  needed  for  certain  capital  projects  across  the  City,  including  South Hamilton rossing,  East  High  Street  Corridor,  and  intersection  improvements  along  West  Main  Street.    These 

n. Cprojects are designed to meet economic development goals that are vital to the City’s Strategic Pla The proposed appropriation nets the following budgets* for capital projects totaling $2,922,964: 

• • $416,080 earmarked for Main Street Intersection Improvements, 

idor and/or South Hamilton Crossing, • ntersections and/or South Hamilton Crossing, 

$535,091 that can be used for East High Street Corr Street I

• ossing, $1,282,205 that can be used for either Main$410,893 earmarked for South Hamilton Cr

• $278,695 for Water Utility Capital Projects.  This breakdown is slightly different than that depicted in the Caucus Report, providing more flexibility for project priorities *in light of other potential funding sources.  In addi  $1,220,751: tion, under the appropriation, the following obligations will be paid totaling

2,843 for the Community Revolving Loan Fund $• • $1,217,908 for outstanding and current year obligations to school districts 

 The lion’s share of these resources is from reimbursements to capital funds for miscoded improvement projects that should have been partially‐funded from the Lowe’s and Wal‐Mart TIF projects.  These funds were intended for such improvements on the west side of the City, but were unavailable due to the fact that they were comingled with other TIF/RID funds – the precise available balances were unknown.  Here is  a  breakdown  of  the  $1,148,748  in  reimbursements  that  are  now  available  for  new  capital  projects within the City: 

Lowes Assess %

Wal-Mart Assess % COMPL YEAR / DESCRIPTION

PROJECT TOTAL

INRASTRUCTURE RENEWAL FUND

311

STREET MAINTENANCE

FUND 281

WATER UTILITY CAPITAL

IMPROVEMENT FUND 535

48.08% 51.92% 2004 Washington Blvd - Widening 70,274.69 70,274.69

48.08% 51.92% 2005 Washington Blvd - Water Main 320,336.30 41,641.30 278,695.00

47.80% 52.20% 2007 N Washington Blvd - Extension Ph 1 758,137.07 294,663.85 463,473.22

Total Back-Charges 1,148,748.06$ 406,579.84$ 463,473.22$ 278,695.00$

Reimburseable Projects

  

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  Unrestricted Resources A portion of the funds from the Matandy Steel and Shoppes @ Hamilton TIFs is owed to the General Fund for  improvements performed on those sites at  the onset of development ($535,091).   Likewise, Lowe’s and  Wal‐Mart  project  income  tax  proceeds  that  are  no  longer  payable  to  the  school  districts  under revenue sharing would also be due to the General Fund ($395,196).  Monies owed, or due to the General Fund  are  unrestricted  revenues  until  City  Council  designates  them  otherwise.    These  funds,  if  not appropriated  for  capital  improvements, would  be  available  to  offset  a  portion  of  the  City’s  forecasted 2013  structural  imbalance  in  the  General  Fund.    Since  these  funds  were  generated  by  economic development‐driven capital investment, it is recommended that they be reinvested in that vein.   As you know, there is a dearth of such resources in Hamilton while the need for improvements to spur economic growth  is great.   The recommendation  to reinvest  the unrestricted portion of  the TIF/RID resources  is based on  the  fact  that  the General  Fund’s  structural  imbalance  is  only  a  symptom of  the City’s  overall economic situation, and the promotion of new economic growth addresses the problem at its root cause.  While these resources could be used to offset potential cuts to future budgets, it is true that you can only pend  your  savings  once;  seeking  a  return  on  these  dollars  is  strategic  and  vital  to  solving  Hamilton’s sunderlying economic deficiency.  The unrestricted revenues recovered from TIF sources represent $930,287 (31.8%) of the total TIF/RID resources available for capital purposes in 2012. 

  

Lowe’s & Wal­Mart TIF Projects Under  revenue  sharing  agreements  with  Talawanda  and  Hamilton  City  Schools,  once  infrastructure improvements benefiting the properties have been certified “complete,” the schools no longer receive a portion  of  the  City’s  income  tax  revenue  from  the  two  commercial  enterprises.    In  addition,  eighty percent (80%) of the remaining incidental fund balances are to be paid to the schools upon infrastructure completion.   With the retirement of the original debt for the NW Washington Blvd. and Carlisle Avenue extensions, infrastructure completion should be certified as of December 31, 2008.  Since the funds were comingled at the time, certain qualifying improvement projects had occurred but were not charged to the TIF accounts, the costs borne entirely by other capital funds.  Under the recommendations, these project costs are  to be  reimbursed  to  the  capital  funds  from  the 12/31/2008 TIF  fund balances,  leaving  small incidental  balances  to  be  shared  with  the  school  districts.    These  reimbursed  amounts  then  become 

iavailable for new cap tal projects throughout the City.  

After  completion  of  the  period  of  specified  infrastructure  improvements,  the  schools  are  due  their portion of service payments to make them “whole”  for  lost school property  tax revenue  for years after revenue sharing.  With infrastructure complete at the end of 2008, three years’ service payments (2009‐2011)  are  owed  to  the  school  districts.    In  the  case  of  Hamilton  City  Schools,  the  revenue  sharing agreement specifies that the school district will receive 100% of the service payments in the two years immediately after infrastructure completion (2009, 2010).  As mentioned above, neither school district is due income tax revenue after 2008, although Talawanda City Schools was incorrectly paid $234,099.59 for years 2009 and 2010.  Under the recommendations, these funds will be recovered from the school’s share  of  TIF  funds  for  the  Income  Tax  Aggregation/Verification  Fund,  eliminating  the  need  to  invoice 

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TCSD for the overpayments.    econciliation  of  the  12/31/2011  Lowe’s  and Wal‐Mart  TIF  fund  balances, with  infrastructure  ending 2/31/R1 

2008 will produce: 

• $1,148,748 in new capital project funds$234,100 in recovered income tax paym

 from reimbursements,  • ents (overpayments to Talawanda City Schools),  • $272,729 in useable TIF project funds. 

 Amounts provided by this reconciliation represent $1,655,577 of the appropriated resources for capital improvements.  In addition to amounts recovered through the reconciliation process, the City’s share of the projects’ estimated 2012 service payments and a portion of the projects’ 2012 income taxes, totaling $304,447, are included in the resources available for capital purposes.  This brings the total contribution of  the Lowe’s and Wal‐Mart projects  to $1,960,024, or 67.1% of  the appropriated resources  for capital improvements.  Future service payments from these important TIF projects will fluctuate with property values, yet will provide a steady stream of revenue to help finance eligible capital improvements on the est side of Hamilton.   Please see the attached spreadsheet showing the complete reconciliation of the owe’s and Wal‐Mart 12/31/3011 balances. wL ATTACHED INFORMATION 

Revenue Sharing Agreements with Talawanda and Hamilton City Schools • d of  Infrastructure  and disclosing •

Letter  to  school  treasurers dated 2/24/2012  certifying  the En

• amounts owed to the schools through 12/31/2011. 12/31/2011 Lowes & Wal‐Mart TIF Reconciliation Spreadsheet 

• Spreadsheet showing related amendments to 2012 budgeted resources.  COPIES PROVIDED TO N/A 

12/31/2011 Lowe's & Walmart TIF Fund Reconciliation - 2008 Infrastructure Completion

Lowes TIF

(TCSD)

Wal-Mart TIF

(HCSD) Totals

12/31/2008 Preliminary Balance 549,401.95$ 611,574.58$ 1,160,976.53$

Less 2004 Wash. Blvd. Widening (Fund 311) (33,790.56) (36,484.13) (70,274.69)

Less 2005 Wash. Blvd. Water Main (Fund 311) (20,022.61) (21,618.69) (41,641.30)

Less 2007 N Wash. Blvd (Millville Conn) Ext. Phase I

(FUND 281) (221,532.55) (241,940.67) (463,473.22)

Less 2007 N Wash. Blvd (Millville Conn) Ext. Phase I

(FUNDS 311) (140,844.46) (153,819.39) (294,663.85)

Less 2007 N Wash. Blvd (Millville Conn) Ext. Phase I

(FUND 535) (133,211.61) (145,483.39) (278,695.00)

12/31/2008 Incidental Balance 0.15$ 12,228.32$ 12,228.47$

12/11/31 Reconciliation

12/31/2011 Preliminary TIF Fund Balance 975,448.35$ 1,587,226.65$ 2,562,675.00$

Adjustments for Post-Revenue Sharing Parcel Split, TY04

ST_609 (JE) 28,265.76$ (28,265.76)$

Less Back-Charged Projects (549,401.80) (599,346.26) (1,148,748.06)

Subtotal 454,312.31$ 959,614.63$ 1,413,926.94$

Less 80% of 2008 Incidental Balance Due Schools (0.12) (9,782.66) (9,782.78)

2009 Service Payment Due Schools (89,327.44) (305,821.61) 100% (395,149.05)

2010 Service Payment Due Schools (98,907.94) (315,533.67) 100% (414,441.61)

2011 Service Payment Due Schools (96,680.05) (225,144.71) (321,824.75)

Adj for 2009 Income Tax Pmts to TCSD (Xfer to Fund 213,

General Fund) 203,901.55 203,901.55

Adj for 2010 Income Tax Pmts to TCSD (Xfer to Fund 213,

General Fund) 30,198.04 30,198.04

Subtotal (Amount Due School District) (50,815.96)$ (856,282.64)$ (907,098.60)$

12/31/2011 Adjusted TIF Fund Balance (before transfer of income tax proceeds)

403,496.35$ 103,331.99$ 506,828.34$

TIF Fund Balance (after transfer of income

tax proceeds) 169,396.76$ 103,331.99$ 272,728.75$

ORDINANCE NO. ___________________ AN ORDINANCE APPROVING THE APPROPRIATION OF TAX INCREMENT FINANCING (TIF) AND RESIDENTIAL INCENTIVE DISTRICT (RID) PROJECT FUNDS.

WHEREAS, pursuant to Ordinance No. OR2011-11-108, adopted November 21, 2011, the Council

of the City of Hamilton, Ohio approved the segregation of Tax Increment Financing (TIF) and Residential Incentive District (RID) project balances in Fund No. 303 as the first step in allowing these funds to be used for their intended purposes; and

WHEREAS, Council desires to appropriate gross funds in the amount of $5,799,420 of Tax

Increment Financing (TIF) and Residential Incentive District (RID) project funds in order to meet obligations to schools, repay the Commercial Revolving Loan Fund (CRLF), and to reimburse the General Fund and certain capital funds for past improvements, reinvesting non-obligated resources in capital improvements that are designed to promote economic development in the City of Hamilton; and

WHEREAS, projects that will immediately receive funding in 2012 from TIF and RID projects are

South Hamilton Crossing, Main Street Intersections, and the East High Street Corridor improvements and these funds will be reimbursed to capital funds and the General Fund, as well as direct transfers from TIF funds and the Lowes/Wal-Mart income tax verification fund are earmarked for use on said projects;

NOW, THEREFORE, BE IT ORDAINED by the Council of the City of Hamilton, Ohio: SECTION I: That the sum of Five Million Seven Hundred Ninety Nine Thousand Four

Hundred Twenty Dollars ($5,799,420.00) is hereby appropriated, as set forth in detail in Exhibit No. 1, attached hereto and made a part hereof.

SECTION II: This ordinance shall take effect and be in full force from and after the earliest

period allowed by law. PASSED: ______________________ _____________________ Mayor Effective Date: __________________ ATTEST: ______________________ City Clerk

CERTIFICATE I, Adam Helms, City Clerk of the City of Hamilton, Butler County, Ohio, hereby certify that the foregoing Ordinance No. ___________________________ was duly published as provided by Section 113.01 of the Codified Ordinances of the City of Hamilton, Ohio, by posting ten days after passage, a copy thereof in each fire station within the City for a period of ten days. POSTED: ____________________________ _________________________ Adam Helms, City Clerk CITY OF HAMILTON, OHIO

Ordinance No. ______________________ (cont’d)

EXHIBIT NO. 1

FUND ACCOUNT DECREASE INCREASE

GENERAL100.001.001 Unappropriated Balance 40,854100.980.900.311 Transfer To Infrastr. Rnwl Fund 40,854 TOTAL GENERAL FUND $40,854 $40,854

SPECIAL REVENUE213.001.001 Unappropriated Balance 372,266 213.100.850.170 MIT Agr/Ver- Talw Schl Dist 32,000213.100.850.175 MIT Agr/Ver- Haml Schl Dist 160,000213.980.900.100 Transfer To Gen Fund 282,133213.980.900.311 Transfer To Infrastr. Rnwl Fund 282,133281.001.001 Unappropriated Balance 480,432 281.100.700.401 Infrastructure Streets 480,432

TOTAL SPECIAL REVENUE FUNDS $1,044,698 $1,044,698

CAPITAL PROJECTS303.001.001 Unappropriated Balance 1,148,080 303.100.850.179 TIF RE Taxes - Talw. Schl Dist 374,577303.980.900.281 Transfer To Street Fund 221,533303.980.900.311 Transfer To Infrastr. Rnwl Fund 418,758303.980.900.535 Transfer To Water Cap Impr Fund 133,212304.001.001 Unappropriated Balance 1,885,338 304.100.850.180 TIF RE Taxes - Ham Schl Dist 1,065,745304.980.900.281 Transfer To Street Fund 241,941304.980.900.303 Trnsfr To Lowes MITIE Talw.Fund 28,266304.980.900.311 Transfer To Infrastr. Rnwl Fund 403,902304.980.900.535 Transfer To Water Cap Impr Fund 145,484308.001.001 Unappropriated Balance 18,264308.100.850.180 TIF RE Taxes - Ham Schl Dist 10,375308.980.900.311 Transfer To Infrastr. Rnwl Fund 7,889 309.001.001 Unappropriated Balance 1,457309.100.850.108 CRLF Loan Payment 1,457 311.001.001 Unappropriated Balance 1,515,687 311.100.107.002 CWIP - Contracted Construction 1,515,687348.001.001 Unappropriated Balance 359,017 348.980.900.311 Transfer To Infrastr. Rnwl Fund 359,017349.001.001 Unappropriated Balance 17,008 349.980.900.311 Transfer To Infrastr. Rnwl Fund 17,008350.001.001 Unappropriated Balance 34,869 350.980.900.311 Transfer To Infrastr. Rnwl Fund 34,869351.001.001 Unappropriated Balance 1,235351.100.850.180 TIF RE Taxes - Ham Schl Dist 1,235 352.001.001 Unappropriated Balance 33,175352.980.900.311 Transfer To Infrastr. Rnwl Fund 33,175

TOTAL CAPITAL PROJECTS $5,014,130 $5,014,130