Financial Matters:

As of December 31, 2019, there was a total of $217,987 in expenses, primarily related to prior outstanding property taxes ($212,000), which have been deferred to the capital project (7171059).

Any real estate and legal expenses related to the selling of the Subject Property, including the independent appraisal, will be charged to the vesting properties project 007-2950-9998-10548-7171059. Sale proceeds will be deposited to 007-6940-9900-10548-7171059.

Should sale proceeds be sufficient to cover the accumulated expenses, the remaining surplus funds will be retained within the vested capital project. Should sale proceeds be less than accumulated expenses, the resulting net loss will be funded through accumulated gains or from other identified funding sources. The actual results will be reported to City Council in conjunction with the approval of any offers of sale.

Consultations:

Fire Department: John Lee
Windsor Police Services: Barry Horrobin
Public Works: responses consolidated by Juan Paramo
Parks: Mike Clement (now retired)
Facilities: Tom Graziano
Planning Department: Laura Diotte
Housing and Children Services: Tina Moore
Janice Guthrie, Deputy Treasurer, Taxation & Financial Projects
Finance: Mark DiPasquale

Conclusion:

Declaring the improved property identified in Recommendation I surplus, and authorizing the Manager of Real Estate Services to offer the property for sale on MLS will allow for the orderly sale of the improved property that is not required for any municipal purpose.

Approvals:

Name	Title
Chris Carpenter	Lease Administrator (A)
Frank Scarfone	Manager of Real Estate Services
Shelby Askin Hager	City Solicitor, Corporate Leader, Economic Development and Public Safety
Mark Winterton	City Engineer
Joe Mancina	Chief Financial Officer/City Treasurer and Corporate Leader Finance and Technology
Onorio Colucci	Chief Administrative Officer