RD187 - Fort Monroe Authority FY2017 Budget

Executive Summary:
In accordance with the Fort Monroe Authority Act, we are enclosing with this letter copies of the Authority's FY17 governmental fund and enterprise activity budgets. These budgets were approved by the FMA Board ofTrustees at its meeting on June 16, 2016.

Since the transfer of 312.75 acres of property to Commonwealth ownership in June 2013, the Authority has been working to fulfill the preservation requirements established in the governing documents including the Fort Monroe Act, the Programmatic Agreement and Statewide Memorandum of Understanding while positioning the property for redevelopment through either land sales to private parties (in areas where land sales are permitted) or long-term ground leases.