Fiscal Note
This resolution amends the 2010 Capital Budget to allow for completion of a James Madison Park shoreline project. Total costs of $227,500 will be be provided through $155,000 of Parks Development Fees and $72,500 of General Obligation Debt borrowed for the Storm Water Utility. The Parks component of the funding is currently available in Parks Project #11 "Development Fee Projects" (see 2010 Capital Budget, page 346). The Stormwater funding would be made available by amending the 2010 Capital Budget by reducing borrowing for Stormwater Utility Project #5 "Urban Water Quality Compliance" by $72,500, and increasing borrowing for Project #9 "Shorelines" by a like amount.
The Budget Amendment would be as follows:
ESTM-58290-810388 $72,500
ESTM-79140-810388 ($72,500)
ESTM-79140-810551 $72,500
ESTM-58270-810551 ($72,500)
After budget amendment, the total estimated project cost of $227,500 would be available in the following accounts:
$155,000 CL60-58011-810437-00-0000000-60000N00-00000000 (Parks Project #11, "Development Fee Projects"), and
$72,500 ESTM-58290-810388-00-53W0753 (Storm Water Utility Project #9, "Shorelines")
There is no impact upon overall City General Obligation debt requirements.
Title
Approving plans and specifications and authorizing the Board of Public Works to advertise and receive bids for James Madison Park Shoreline, Contract No. 6324 and Amending the 2010 Storm Water Utility Capital Budget.
Body
PREAMBLE
This Project is jointly funded by the Parks Division and Storm Water Utility. The Storm Water Utility shall pay no more than $100 per linear foot of shoreline with a total shoreline length of 725 feet. Parks Division shall pay the remainder which will cover the required amenities for the sailing club launch site. The 2010 Capital Budget included $60,000 for the SWU share of this project. The estimated cost for the SWU has increased to $...
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