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 ...
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