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Director Rancatore replied that there are no specific plans at this time to make purchases. <br /> However, $700,000 is in the budget to allow for flexibility. He reminded Council that as of 2021, <br /> revenue earned on the sale of city property is used to replenish the Land Acquisition Fund. <br /> Director Leininger explained that there were some exceptions where required by ordinance or <br /> statute. For example, when the single-family homes that used to be owned by Lakewood <br /> Hospital are sold, those profits are required to go toward the hospital fund line item. He provided <br /> other examples as well. He added that there remain many unknowns related to the former Human <br /> Services properties and so their potential sale was not included in this budget. <br /> The Finance Department adjourned at approximately 7:30 p.m. <br /> 5 <br />