Approved Agreements and Contracts 2023-01-24 Resolution Approving a Deficit Elimination Plan for Brownfield

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                            CITY OF MUSKEGON
                        MUSKEGON COUNTY, MICHIGAN

                            RESOLUTION NO.2023-20(J)

WHEREAS City of Muskegon's Brownfield Redevelopment Authority (combined) had a
$64,211 deficit balance June 30, 2022; and

, WHEREAS, Act 275 of the Public Acts of 1980 requires that a Deficit Elimination Plan
  be formulated by the local unit of government and filed with the Michigan Department of

NOW THEREFORE, IT IS RESOLVED that the City Commission of the City of
Muskegon adopts the following as the City of Muskegon's Brownfield Redevelopment
Authority (combined) Deficit Elimination Plan.

                                                  FY2021-22               FV2022-23
 Cash and Investments                         $                                  66,000

 Total Assets                               1$                - I$               66,000

 Accounts Payable                             $
 Accrued Liabilities
 Due to primary government                   $         64,211
 Advances from primary government           ,$      1,046,980     I   $       1,000,000


 Total Liabilities                            $     1,111,191     I   $       1,000,000

 Unassigned                                   $     (1,111,191) $              (934,000)

 Total Liabilities and fund balances          $               -       $          66,000
Adopted this 24 th day of January 2023

                                     By: ~
                                        Ken Johnson                  -=-.:::::::.
                                        Its Mayor

                                     B~~""---.___ ~~~' \ '-"- ~                 (_j

                                         Ann Marie Meisch, MMC
                                         Its Clerk


This resolution was adopted at a regular meeting of the City commission, held on January
24, 2024. The meeting was properly held and noticed pursuant to Open Meetings Act of
the State of Michigan, Act 267 of the Public Acts of 1967.

                                            CITY OF MUSKEGON

                                            B~')y-~           ~ -.---~          V2 J"--
                                                   Ann Marie Meisch, MMC
                                                   City Clerk

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