Fiscal Note
The resolution would authorize a $250,000 addition to the 2005 Capital Budget to fund a portion of the $500,000 Brittingham Boathouse Renovation and Addition (Specific Park Improvements Project 810405), not originally adopted in the capital budget. Funding will now be accumulated from a variety of sources including funds previously budgeted for this project $250,000 transfer from TIF #28 (810405), transfers from the Hollister Trust, and Parks Development Funds, and contributions. The following is a breakdown of the funding sources:
Amounts previously budgeted for this project:
2004 Capital Budget Specific Park Improvements Project (810405) $250,000
funded by a transfer from TIF #28
Other newly authorized sources of revenue totaling $250,000:
2005 Capital Budget Specific Park Improvements Project (810405)
funded by a transfer from the Hollister Trust Fund (TN70) $100,000
and by a transfer from the Parks Development Fees Fund (SI04) $125,000
and contributions from the UW Chancellor's Office, $ 10,000
UW Athletic Department, $ 10,000
and other private donations $ 5,000
Phase Two of this project is estimated to cost $380,000, with funding provided by private contributions, which will be included in a subsequent fiscal year within the Capital Improvement Program.
Title
Approving plans and specifications and authorizing the Board of Public Works to advertise and receive bids for Contract No. 5872, Brittingham Boathouse Renovation and Addition; authorizing the Park Superintendent to acquire the necessary permits and the project shall not be bid until conditions of those permits are known, and amending the 2005 Capital budget for Project No. 12 Specific Park Improvements (810405) in the Parks Division by $250,000. (4th AD)
Body
The City of Madison Parks Division and Ca...
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