Fiscal Note
The proposed resolution transfers existing GO funding from Reconstruction Streets (MUNIS Major Project 10226) in the Engineering-Major Streets Capital Budget to Garver Path (MUNIS Project 10160) in the Engineering-Bicycle & Pedestrian Capital Budget. The transferred funding would support costs of the Garver Path & Starkweather Drive Assessment District -2021, the low bid for which was approximately $2.2 million.
($580,000) 12364-402-170
($580,000) 12364-402-801
$580,000 10160-403-172
$580,000 10160-403-801
Title
Amending the 2021 Capital Budget to transfer $580,000 of existing GO borrowing authority from Reconstruction Streets (major 10226) in the Engineering-Major Streets Capital Budget to Garver Path (project 10160) in the Engineering-Bicycle & Pedestrian Capital Budget. (6th and 15th AD)
Body
The Common Council approved Plans, Specifications, And Schedule Of Assessments For Garver Path & Starkweather Drive Assessment District - 2021, on January 5, 2021, File ID 63327, RES-21-00002.
The Engineering Division advertised and received bids for Public Works Contract No. 8572, Garver Path & Starkweather Drive Assessment District - 2021. The low bid including 8% contingency totals $2,829,007.57. The project includes $850,000 of federal funds, the remainder being locally funded.
The project cost is higher than anticipated when the project budget was developed. GO funding needs to be transferred in order to award the public works contract and proceed with construction.
NOW, THEREFORE, BE IT RESOLVED that the 2021 Capital Budget is hereby amended to transfer $580,000 of available GO borrowing authority from Reconstruction Streets (major 10226) in the Engineering-Major Streets Capital Budget to Garver Path (project 10160) in the Engineering-Bicycle & Pedestrian Capital Budget.