Fiscal Note
This resolution would increase TE's budget authority for the Wingra Creek Warehouse Project by $277,000. This budget amendment will be funded through additional GO Borrowing.
The budget amendment is as follows:
CB57-58310-810537 (Building) $277,000
CB57-79140-810537 (GO Proceeds) ($277,000)
Furthermore, this resolution would increase Parking Utility's budget authority for the Wingra Creek Warehouse Project by $31,000. This budget amendment will be funded through additional Reserves Applied.
The budget amendment is as follows:
EP01-58310-810537 (Building) $31,000
EP01-79999-810537 (GO Proceeds) ($31,000)
The additional General Obligation borrowing will result in estimated annual debt service payments of $35,873 for ten years, starting in 2010. The Parking Utility will fund its share of project costs with Parking Utility reserves; therefore, there is no impact on the City levy for the Parking Utility portion of the project.
Title
Amending the 2009 Capital Budgets of the Traffic Engineering and Parking Utility agencies and Awarding Public Works Contract No. 6218, Sayle Street Traffic Engineering Warehouse Building Phase 2 Building Construction to Stevens Construction Corporation.
Body
Preamble
In the 2006 capital budget, Traffic Engineering budgeted $90,000 and the Parking Utility budgeted $10,000 for engineering and architectural fees associated with the reconstruction of the Wingra Creek Warehouse.
In the 2007 capital budget, Traffic Engineering budgeted $1,080,000 and the Parking Utility budgeted $120,000 for demolition and reconstruction of the warehouse. The 2007 funding was reauthorized in 2008 as demolition work was delayed. In 2008, City Engineering budgeted $101,950 for work related to Wingra Creek bank restoration.
The total budgeted amount for this project is $1,401,950.
The total estimated costs and contingency are as follows:
Testing and other fees 13,017
Design 105,000
Asbestos Abatement 19,380
Demolition/Creek restoration 236,000
Building Construction 1,219,800
Contingency 116,464
TOTAL Estimated Costs $1,709,661
The difference between the total budget amount for the Wingra Creek Project ($1,401,950) and the estimated total costs ($1,709,661) is $308,000 (rounded).
WHEREAS, the lowest contractor's bid and contingency amount was greater than the total amount collectively budgeted in the Traffic Engineering, Parking Utility and Engineering Capital Budgets for this project by $308,000; and
WHEREAS, Traffic Engineering and the Parking Utility have agreed to share the total costs of the project 90%/10% respectively; and
WHEREAS, Traffic Engineering's additional costs to fund its share of this project would be $277,000 and PU's additional share would be $31,000; and
WHEREAS, Traffic Engineering's funding source for this project is GO borrowing and PU's source is Reserves Applied; and
WHEREAS, the Wingra Creek Warehouse is in the process of being demolished and sensitive Traffic Engineering and Parking Utility materials and equipment are being temporarily stored at other sites causing operational inefficiency and inconvenience for staff; and
WHEREAS, Stevens Construction Corporation was the lowest bidder.
NOW THEREFORE BE IT RESOLVED, that the 2009 Traffic Engineering Capital Budget is amended to increase budget expenditure authority and GO borrowing revenue authority for the Wingra Creek Warehouse (810537) Project by $277,000.
BE IT FURTHER RESOLVED, that the 2009 Parking Utility's Capital Budget is amended to increase budget expenditure authority and revenue authority (Reserves Applied) for the Wingra Creek Warehouse (810537) Project by $31,000.
BE IT FURTHER RESOLVED, that Stevens Construction Corporation bid be accepted and that the Mayor and City Clerk be and are hereby authorized and directed to enter into a contract with the low bidder 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.