Summary
PICA adopted Resolution No. 2018-05, approving a capital project funding substitution for surplus bond proceeds previously allocated to a library facility assessment. The City of Philadelphia determined that another initiative had already conducted the necessary assessments, leaving a $420,000 balance. PICA approved reallocating these funds toward roof repairs at several of the same library locations. The resolution authorizes officers to amend financial schedules, obtain legal approvals, and finalize the necessary administrative actions. This ensures that surplus funds are used for essential public infrastructure projects. The resolution takes effect immediately.