Title
Consider/Discuss/Act on an Ordinance Amending the Fiscal Year 2014-2015 Annual CIP Budget and Amending the 2015-2019 Capital Improvements Program to Provide Funds for the Valley Creek Park Retaining Walls Project
Summary
COUNCIL GOAL: Direction for Strategic Growth
MEETING DATE: May 5, 2015
DEPARTMENT: Parks, Recreation, and Open Space
CONTACT: Rhoda L. Savage, Director of Parks, Recreation, and Open Space
RECOMMENDED CITY COUNCIL ACTION:
· Approval of the attached Ordinance
ITEM SUMMARY:
· This Ordinance amends the FY 2014-2015 annual CIP budget and the 2015-2019 Capital Improvements Program by:
o Transferring $85,000 from the Parkland Dedication Fund (Zone 3) to the Parks Construction Fund
o Appropriating $85,000 in the Parks Construction Fund is needed to supplement the proposed construction contract for CIP Project PK3230 - Valley Creek Park Retaining Walls project
· Bids for construction of the Valley Creek Park Retaining Walls project (PK3230) have been received. The recommended contract for construction is $301,567 which exceeds the funds available by an amount of $85,000.
· Increased funding in an amount of $85,000 would provide the additional funds needed for the project including the bid award and cost for construction ($286,345) plus a 5% contingency ($15,222).
· A breakdown of total project costs ($360,000), which includes the Budget Amendment, is included herein:
Original CIP PK3230 Budget Funding $ 275,000
Architectural and Engineering Design Fees - 51,435
Construction Materials Testing - 5,998
TDLR Review and Inspection - 1,000
Currently Available PK3230 Funding $ 216,567
Construction Contract for 2L Const., LLC $ 286,345
Approx. 5% Construction Contingency + 15,222
Requested Construction Budget $ 301,567
Requested Construction Award $ 301,567
Currently Available PK3230 Funding - 216,567
Additional Funding Requested $ 85,000
Original CIP PK3230 Budget Funding $ 275,000
Requested Budget Amendment + 85,000
New CIP PK3230 Budget Funding $ 360,000
· This Budget Amendment will bring the total project cost of CIP Project PK3230 - Valley Creek Park Retaining Walls project to $360,000.
BACKGROUND INFORMATION:
· The project has been bid in a manner consistent with State Law.
· The project cost has increased since this project budget was originally established due to market conditions.
· A concurrent agenda item recommends awarding a construction contract to 2L Construction, LLC, for the Valley Creek Park Retaining Walls project.
FINANCIAL SUMMARY:
· The attached financial summary details the transfer of funds in the amount of $85,000 from the Parkland Dedication Fund (Zone 3) to the Parks Construction Fund CIP Project PK3230 - Valley Creek Park Retaining Walls project.
BOARD OR COMMISSION RECOMMENDATION: N/A