Title
Resolution Approving Entering Into a Memorandum of Understanding (MOU) Between 68 Ventures Live Oak 2026, LLC (68V) and the City of Foley, Alabama, Approving and Appropriating Funding for the Sidewalk Cedar-Peachtree Northward Project.
Summary
Description of Topic: (who, what, where, when, why and how much) 68V wishes to enter into a Memorandum of Understanding with the City of Foley. The MOU addresses sidewalks along CR24 (Underwood Road) and contributes to the Sidewalk Cedar-Peachtree Northward project. 68V offered an aid to construct funding for capital improvement sidewalks Cedar Street adjacent to their proposed development within the existing Live Oak Village Community. Instead of constructing the section of sidewalk, 68V is offering a contribution towards construction aid for a new sidewalk that we have under design and included in our FY27 capital budget. This project runs along Cedar Street from Peachtree Avenue to Village Square Blvd (the main entrance to Live Oak Village). Engineering is also asking to approve and appropriate the budgeted project amount for the project listed under Sidewalk Cedar-Peachtree Northward.
Budgetary Impact:
Non-Capital Item:
____ Budgeted under account #_______________ (discussion item)
____ Not budgeted, requesting transfer of $__________ from Account #______________ to Account #_____________.**Request to Transfer Departmental Budget Dollars form must be attached**
____ Not budgeted requiring increase to account #___________ in the amount of $____________.**Request to Increase Departmental Budget Dollars form must be attached**
Capital - Departmental **Capital Purchase Worksheet form must be attached**
____ Budgeted under account #______________ for $_________ and described in budget as ________________________. Additional amount needed, if any: Increase in budget of $_________ OR, transfer of $________ from Account #____________ to Account #_____________**Request to Increase OR Requ...
Click here for full text