§ 15B-124. Capital budget.

(a)

For purposes of this Section, the term "capital project" or "project" shall mean:

(1)

Any physical public betterment or improvement by the Redevelopment Authority;

(2)

The acquisition of property of a permanent nature for use in accordance with the purposes and powers of the Redevelopment Authority; or

(3)

The purchase of equipment for any public betterment or improvement when first constructed by the Redevelopment Authority.

(b)

The Redevelopment Authority shall not commence any capital project without prior authorization of the County Executive and the County Council as provided in this Section. No capital project shall be proposed unless it is proposed to be commenced within the next succeeding six fiscal years. All capital projects approved under this Section shall constitute the Redevelopment Authority's Capital Improvement Program. The Capital projects and related information for each fiscal year, approved as part of a capital improvement program, shall constitute the capital budget of the Redevelopment Authority for that fiscal year.

(c)

The Redevelopment Authority may propose to the County Executive one or more projects for inclusion in the Redevelopment Authority's Capital Improvement Program. Each proposal shall include the following information:

(1)

A description of the project including an identification of the general location of the project;

(2)

Anticipated source of funding for the project;

(3)

Estimated cost of the project;

(4)

A statement of the relationship between the project and any project included in the County's Capital Improvement Program; and

(5)

A schedule of anticipated expenditures of funds by fiscal year.

(d)

After reviewing the request of the Redevelopment Authority for the inclusion of one or more capital projects in the Redevelopment Authority's Capital Improvement Program, the County Executive shall transmit any approved project, or any additional project that the County Executive may propose for inclusion in the Redevelopment Authority's Capital Improvement Program, to the County Council for its approval by ordinance or resolution. Any such project proposed by the County Executive shall conform to the requirements of Subsection (b), above.

(e)

Prior to the adoption of the ordinance or resolution approving the Redevelopment Authority's Capital Improvement Program, the County Council may add new projects or amend or delete any proposed project.

(f)

The proposed expenditure of funds by the Redevelopment Authority for each fiscal year of an approved capital improvement program shall constitute the Redevelopment Authority's Capital Budget in that fiscal year. Where modifications are required to a capital project, the capital improvement program shall be amended in the same manner as originally approved. Nothing in this Section shall be deemed to authorize the Redevelopment Authority to expend any funds on any capital project beyond the six-year period specified in the Redevelopment Authority's current Capital Improvement Program.

(g)

No appropriation for a capital project in the Capital Budget of the Redevelopment Authority shall lapse until the purpose for which the appropriation was made shall have been declared to be accomplished or declared to be abandoned by the Redevelopment Authority. The balances remaining to the credit of the completed or abandoned capital projects being lapsed shall be available for appropriation by the County in accordance with the requirements of this Division.

(h)

Transfers of appropriations between capital projects in the Redevelopment Authority's Capital Budget or Capital Improvement Program may be authorized by resolution of the County Council upon request of the Redevelopment Authority and upon concurrence of the County Executive.

(CB-85-1997)