DISCLAIMER

FINANCE COMMITTEE


08-0377R

 

RESOLUTION AUTHORIZING CLOSING SOFT CENTER BANK ACCOUNTS AND DEPOSITING FUNDS IN CAPITAL EQUIPMENT FUND 250 FOR ACQUISITION OF GIS MAPPING INTEGRATION CAPACITY.

CITY PROPOSAL:

     RESOLVED, that the proper city officers are hereby authorized to withdraw all available funds from the basic business services account and the business market rate savings account which are held at Wells Fargo Bank NA in the name of Soft Center Duluth and to close said accounts.

     RESOLVED FURTHER, that said funds shall be deposited in the Capital Equipment Fund 250 and shall be used to defray a portion of the cost of acquiring mapping integration capabilities within the city’s utility billing, building inspection and permitting, code enforcement and business licensing applications.


FINANCE/ATTY


STATEMENT OF PURPOSE:  The purpose of this resolution is to authorize the proper city officials to close down two bank accounts at Wells Fargo Bank in the name of Soft Center and to deposit the combined balance of approximately $16,000 in the capital equipment fund to be used to fund most of the $20,000 cost of acquiring mapping integration capabilities within the city’s utility billing, building inspection and permitting, code enforcement, and business licensing applications.


Soft Center was created as a 501c3 in the late 90's in conjunction with the Tech Village project. Funds originally came from a variety of public sources including the state of Minnesota and the city.   Soft Center's mission was to promote the software development industry in Duluth.   Soon after the corporation was created, a downturn in the software industry occurred. The remaining funds were insufficient to support this program, and have been held until a project with strong public benefits in information technology was identified.   The proposed use is such a project.