Fiscal Note
The proposed resolution amends the 2018 Parks Division Capital Budget Olbrich Botanical Complex project (Project #17193) by increasing expenditure authority by $2,000,000. This increased expenditure authority is funded by $1,000,000 in General Obligation debt and $1,000,000 in private donations.
This resolution transfers existing general obligation supported funding authorization of $565,000 from the 2018 Facilities Management Capital Budget Park Facility Improvements project (Project #10564) to offset the increased General Obligation Debt. This resolution transfers existing general obligation supported funding authorization of $140,400 from the 2017 Parks Division Capital Budget Park Facility Improvements project (Project #17443) to offset the increased General Obligation Debt.
Additionally, this project transfers $294,600 in existing project resources from the Parks Division’s Splash Parks projects (Project #s 10822 and 10823) to the Olbrich Botanical Complex project.
Title
Amending the 2018 Adopted Capital Budgets of the Parks Division and Engineering - Facilities Management Division for the Olbrich Botanical Gardens - Expansion project. (6th AD)
Body
WHEREAS, the Olbrich Botanical Gardens Expansion project includes the construction of a 9,200 square foot Learning Center and a new 11,000 square foot Greenhouse to replace the existing antiquated structure; and
WHEREAS, the Olbrich Botanical Gardens Expansion project has been jointly planned and funded with the Olbrich Botanical Society; and
WHEREAS, the Expansion project has been planned and designed with the goal of meeting the project budget including scaling back initial designs; and
WHEREAS, there have been unanticipated costs associated with the project that put the estimated cost of completion at above the authorized project budget; and
WHEREAS, the first significant unanticipated cost is the requirement of the entire Olbrich Botanical Gardens campus of connected buildings meet ...
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