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File #: 49879    Version: 1 Name:
Type: Resolution Status: Passed
File created: 12/19/2017 In control: FINANCE COMMITTEE
On agenda: 1/16/2018 Final action: 1/16/2018
Enactment date: 1/22/2018 Enactment #: RES-18-00077
Title: Amending the 2018 Capital Budget of Major Streets to replace $104,500 of funding from GO Proceeds with Impact Fees for the CTH M Project
Sponsors: Paul E. Skidmore, Barbara Harrington-McKinney

Fiscal Note

The proposed resolution amends the 2018 Adopted Capital Budget for Engineering Major Streets to reduce GO Borrowing in the CTH M (Midtown) project by $104,500 and replace the appropriation with Impact Free revenue. The 2018 appropriation for the project will remain unchanged at $10,538,500.

 

MUNIS:

     10233-402-801                                            $104,500

     10233-402-902                                          ($104,500)

 

     12404540-59140-00000                       $104,500

     12404540-48510-00000                     ($104,500)    

 

Title

Amending the 2018 Capital Budget of Major Streets to replace $104,500 of funding from GO Proceeds with Impact Fees for the CTH M Project

Body

WHEREAS ORD-17-00059, adopted on June of 2017, repealed the High Point Raymond Midtown Neighborhood Transportation Improvement Impact Fee District; and

 

WHEREAS this Impact Fee Fund currently has a projected year-end balance of $104,500; and

 

WHEREAS the CTH M-Midtown project contains applicable work and could use up this remaining cash; and

 

WHEREAS the 2018 Capital Budget did not include any Impact Fee funding for this project; and

 

WHEREAS the use of these remaining Impact Fees can reduce the amount of GO Proceeds needed for the project.

 

NOW, THEREFORE, BE IT RESOLVED that the 2018 Capital Budget of Engineering-Major Streets is hereby amended to exchange $104,500 in funding from GO Proceeds with Impact Fees.