Title
Consider/Discuss/Act on an Ordinance Amending the Fiscal Year 2013-2014 Annual Budget and Amending the 2014 - 2018 Capital Improvements Program, to Provide Funds for the Gabe Nesbitt Park Infrastructure Improvements
Summary
MEETING DATE: August 4, 2014
DEPARTMENT: Development Services/Engineering
CONTACT: Tony Nielsen, Parks Development Superintendent
RECOMMENDED CITY COUNCIL ACTION:
• Approval of Ordinance.
ITEM SUMMARY:
• The funding for the Gabe Nesbitt Park infrastructure improvements includes funds from parks construction, street construction, utility construction, stormwater construction and reforestation funds. These funds can only be used for the unique improvements associated with each funding source.
• The Guaranteed Maximum Price (GMP) for the Gabe Nesbitt Park Infrastructure Improvements project (CO4271) requires the City to realign restricted funding for the various infrastructure improvements originally assigned to this project.
• The total amount of this project remains unchanged at $1,840,000.
• This Ordinance amends the FY2013-2014 annual budget and the 2014 - 2018 CIP for Gabe Nesbitt Park Infrastructure Improvements project (CO4271) by:
o Returning $131,500 to the Storm Water Construction Fund
o Transferring $131,500 from the Parkland Dedication Fund (Zone 3) to the Parks Construction Fund
o Appropriating $131,500 in the Parks Construction Fund
BACKGROUND INFORMATION:
• Funds were approved by Council on December 17, 2013 for the construction of improvements to the Gabe Nesbit Park. These funds were taken from several different CIP funding sources.
o PSA is to construct the improvements on a reimbursement basis from the City.
• The total City commitment to the project has not changed. The GMP resulted in some funding sources needing to be realigned to ensure proper expenditures are reflected in each restrictive funding source.
FINANCIAL SUMMARY:
• The financial summary below details the transfer of funds for Gabe Nesbitt Park Infrastructure Improvements (CO4271):
BOARD OR COMMISSION RECOMMENDATION:
• N/A
SUPPORTING MATERIALS:
• Ordinance
• Budget Amendment
• Original AI and ORD approved December 17, 2013