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Director Leininger described the department's various funds including the CDBG Fund, the <br /> Neighborhood Stabilization Fund, the Lakewood Hospital Fund, ESG and HOME Investment <br /> Fund and discussed major changes and highlights from each. <br /> Director Leininger explained that the Lakewood Hospital Fund professional services line item <br /> includes a contract with Brickler& Eckler to draft the development agreement for the downtown <br /> development. He explained that assuming the development moves forward, the developer is <br /> responsible for paying those legal fees. Nevertheless, the city must budget these funds in the <br /> unlikely event the project fails. <br /> Director Leininger pointed to and explained the increases in the HOME fund that have resulted <br /> from the repayment of loans from home sales. The fund currently has a balance of$525,000 and <br /> must spend this before accessing additional housing dollars from the county. He discussed the <br /> various purposes for these funds. <br /> Director Leininger highlighted areas of the capital improvement plan in which Planning plays a <br /> role, including the planned Winterhurst improvements. In response to questions, Director <br /> Leininger explained that the city performed a comprehensive evaluation of Winterhurst which <br /> produced a report outlining a comprehensive list of needed upgrades. The city will use in-house <br /> employees where it can and will also contract out for other improvements in 2024 and 2025. <br /> Councilmembers asked about the status of the city's lease with its current tenant. <br /> Finance Committee adjourned at 10:04 p.m. <br /> 9 <br />