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<br />Revenues <br />Interest Income 32,489.45 <br />FMV Investments (1,700.30) <br />Sale of City Property 319,000.00 <br />Cell Tower Lease 220,115.27 <br />Transfer In from 105 350,000.00 <br />Total Revenues 919,904.42 <br />Expenses <br />Consultant 10,850.50 <br />Audit Cost 1,350.00 <br />Enginneer 5,067.98 <br />Attorney Costs 7,017.39 <br />Interest on Note (Loan from Fund 604)62,094.41 <br />Sale of 53 South Owasso 161,148.53 <br />Total Expenses 247,528.81 <br />Net 672,375.61 <br /> <br />Additionally, a total of $597,000 resulted from a direct lease purchase by Crown Castle of the two <br />cell towers that were part of the property purchased in 2013. The $597,000 is scheduled to be <br />collected in nine installments that began on December 1, 2021 and will end December 1, 2029. <br />The funds are currently scheduled to be collected in the General Capital Improvement Fund 400 <br />as part of the budget process but have not been officially approved by City Council as a revenue <br />source for the General Capital Improvement Fund 400. <br /> <br />As part of the 2023 budget process, the $72,774 per year in remaining payments to be received <br />from Crown Castle has already been budgeted in the General Capital Improvement Fund 400. <br /> <br />STAFF RECOMMENDATION: <br />City staff recommends Council to authorize fund balance transfer from Owasso/Woodlyn <br />Redevelopment Fund 474 to EDA Fund 105 and close fund 474 and approval of the remaining <br />cell tower purchase payments from Crown Castle to the City of Little Canada as revenue to the <br />General Capital Improvement Fund 400. <br />