Fiscal Note
In the adopted 2016 capital budget, major capital project for the Capitol Square Pavement Replacement (MUNIS 10903) has $2.262 million authorized to reconstruct the concrete pavement on the Capitol Square. The total project budget is split amongst Engineering Major Streets, Sewer Utility, and Stormwater Utility. Funding is predominately funded by GO borrowing reimbursable by TID 45 and TID 32. Additionally, the Water Utility will be responsible for $485,650 which they have budgeted in the Water Mains Replace and Rehab Improvements project (MUNIS 10432) for their portion of work in the proposed resolution contract.
The proposed resolution will authorize the improvements to the specified portions of Mifflin St., N. Carroll St., and N. Pinckney St. Assessment District with an estimated cost of $2,298,590. That cost will be assigned between agencies as follows:
Engineering Major Streets - $1,602,960
Sewer Utility - $170,810
Stormwater Utility - $39,170
Water Utility - $485,650
Funding strings:
10903-402-170:54410(91350) $1,409,710.00
10903-402-174:54445(91345) $87,740.00
10903-84-174:54445(91345) $39,170.00
10903-83-173:54445(91345) $170,810.00
10903-86-179:54445(91360) $485,650.00
10903-402-176:54430(96882) $52,410.00
10903-402-177:54435(91232) $53,100.00
Total $2,298,590.
The proposed resolution amends the 2016 capital budget by exchanging TID 45 funding for TID 32 on those portions of the Capitol Square repavement project that are in TID 32. This change is necessary to properly fund the project in accordance with the TIF law.
The budget amendment to be made to the Major Streets Budget is as follows:
$423,750 10903-402-906
($423,750) 10903-402-906-014232
The budget amendment to be made to the TID 32 and TID 45 budgets is as follows:
$423,750 14206632-59140-00000
($423,750) 14206632-41140-00000
$423,750 14206645-41140-00000
($423,750) 14206645-59140-00000
Title
SUBSTITUTE Amending the 2016 Capital Budget of Engineering-Major Streets and Awarding Public Works Contract No. 7623, East & West Mifflin Street, North Carroll Street and North Pinckney Street Assessment District - 2016.
Body
WHEREAS, the 2016 Capital Budget includes $1,695,000 for the replacement of concrete pavement on the Capitol Square, funded by TID 45 borrowing; and
WHEREAS, one block of the proposed project is in TID 32 and therefore needs to be separated out from the TID 45 funded work; and
WHEREAS, a budget amendment exchanging 25% of the funding from TID 45 with funding from TID 32 is now required.
NOW, THEREFORE, BE IT RESOLVED that the 2016 Capital Budget of Engineering-Major Streets is hereby amended to exchange the TID 45 funded budget authority in Project 10903 with TID 32 funded budget authority; and
BE IT FURTHER RESOLVED that the 2016 TID 45 and TID 32 budgets are also hereby amended accordingly; and
BE IT FURTHER RESOLVED, that the following low bids for miscellaneous improvements be accepted and that the Mayor and City Clerk be and are hereby authorized and directed to enter into a contract with the low bidders contained herein, subject to the Contractor's compliance with Section 39.02 of the Madison General Ordinances concerning compliance with the Affirmative Action provisions and subject to the Contractor's compliance with Section 33.07 of the Madison General Ordinances regarding Best Value Contracting:
BE IT FINALLY RESOLVED, that the funds be encumbered to cover the cost of the projects contained herein.
See attached document (Contract No. 7623) for itemization of bids.