Fiscal Note
The 2017 Adopted Capital Budget includes $300,000 from room taxes revenues for the repair and resurfacing of the bike path between Lake Monona and the Monona Terrace Community and Convention Center. The work on the project has been completed and a balance remains of approximately $68,000. The proposed resolution authorizes the use of up to $65,000 from this project to repair tiles and other elements of the Olin Terrace in the aftermath of damage from a failed storm sewer. The Council recently approved emergency funding of $425,000 to storm sewer repair and surface treatment. This resolution would repair broken tiles and other aesthetic impacts associated with the storm sewer failure.
Title
Amending the 2017 Adopted Capital Budget for the Monona Terrace to authorize use of up to $65,000 from the Monona Terrace Bike Path Project to fund Tile and Other Repairs on the Olin Terrace.
Body
WHEREAS, the 2017 adopted capital budget authorized $300,000 for the repair and resurfacing of the Monona Terrace bike path from room tax funds; and,
WHEREAS, the total cost of the project was approximately $232,000; and,
WHEREAS, the failure of an aging stormwater pipe under Olin Terrace created a sinkhole that swept away and damaged a number of Monona Terrace tiles; and,
WHEREAS, the emergency repair of the stormwater pipe was funded at $425,000 and stabilized the surface, replaced some of the tiles and improved the drainage; and,
WHEREAS, additional work is needed for a complete restoration; and,
WHEREAS, the Room Tax Commission is responsible for the allocation of 70% of room tax revenues associated with tourism-related activities, including tourism-related municipal development associated with the Monona Terrace Community and Convention center,,
NOW, THEREFORE, BE IT RESOLVED, that the Room Tax Commission and Common Council authorize the transfer of up to $65,000 from the Monona Terrace Bike Path project to a new Olin Terrace Repair Project; and,
BE IT...
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