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File #: 49974    Version: 1 Name: Amending the 2018 Adopted Capital Budgets of Engineering-Major Streets, Sewer Utility, Stormwater Utility and Water Utility for the Monroe Street project.
Type: Resolution Status: Passed
File created: 12/27/2017 In control: FINANCE COMMITTEE
On agenda: 1/16/2018 Final action: 1/16/2018
Enactment date: 1/22/2018 Enactment #: RES-18-00088
Title: Amending the 2018 Adopted Capital Budgets of Engineering-Major Streets, Sewer Utility, Stormwater Utility and Water Utility for the Monroe Street project. (13th AD)
Sponsors: Paul R. Soglin, Sara Eskrich, Paul E. Skidmore
Attachments: 1. Leg 49974 BY TITLE ONLY.pdf, 2. Monroe Street FAQ .pdf, 3. monroe budget amendment reso info.pdf
Fiscal Note
The proposed resolution amends the Stormwater Utility’s adopted 2018 capital budget to appropriate an additional $1,478,000 of GO Borrowing for the Monroe Street project. The debt service repayment of the appropriated borrowing will be assigned to the Stormwater Utility.
10251-84-174 $1,401,000
10331-84-174-84600 $77,000
The proposed resolution amends the Sewer Utility's adopted 2018 capital budget to transfer $884,000 of existing revenue bond authority from the Rural to Urban major.
10251-83-173 $884,000
11542-83-173 ($884,000)
The proposed resolution also amends the 2018 adopted Capital Budgets of Engineering-Major Streets, Sewer Utility and Stormwater Utility with increases in special assessment revenue budget authority to match the expected final assessment amounts for the completed project.
The Engineering-Major Streets adopted capital budget will be amended to increase special assessment revenue authority by $625,100.
10251-402-170 $625,100
The Sewer Utility adopted capital budget will be amended to increase special assessment revenue authority by $160,000.
10251-83-173 $160,000
The Stormwater Utility adopted capital budget will be amended to increase special assessment revenue authority by $37,000.
10251-84-174 $37,700
Title
Amending the 2018 Adopted Capital Budgets of Engineering-Major Streets, Sewer Utility, Stormwater Utility and Water Utility for the Monroe Street project. (13th AD)
Body
The current authorized budget for this project is $17.7 million (MUNIS project 10251). The estimated total project cost is $22.4 million, or a difference of $4.7 million. The difference is due to higher than expected bids prices and underestimated project costs and special assessments.
Three bids were received for the public works contract. The bids were reviewed and it was determined that rebidding this project would likely not result in lower costs and would delay completion of the project.

The proposed additional funding for the project consists...

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