Laserfiche WebLink
French Street Water Tower <br />April 1, 1996 <br />Page Two <br />logo within the next several months. Preliminary estimates for the cost of the <br />logo are $38,000. PBMC has also agreed not to use a present worth value for the <br />advanced rental payments, but rather a dollar- for - dollar rent credit until such <br />time as their cost for the logo is recovered. After PBMC has recouped its <br />advance and begins making monthly rent payments, those proceeds will be dedicated <br />to recreational activities in the adjoining neighborhood. <br />FISCAL IMPACT <br />After PBMC recoups the cost of installation of the arts logo, the annual rental <br />income wil be deposited into the Rental of Property Account (account no. 11 -01 <br />5804). <br />Cynthia J. Non <br />Executive Director <br />Community Development Agency <br />CONCUR: <br />�r <br />J,fAes Ross <br />Executive Director/ <br />Public Works Agency <br />H: \actions \FRWATERT.CC <br />APPROVED AS TO FUNDS & ACCOUNTS: <br />Rod R. Coloma <br />Executive Director/ <br />Finance & Management Services Agency <br />`.) <br />you <br />