Title
Consider/Discuss/Act on an Ordinance Amending the Fiscal Year 2017-2018 Annual Budget and Amending the 2018-2022 Capital Improvements Program, to Provide Funds for the Gabe Nesbitt Tennis Complex Expansion Project
Summary
COUNCIL GOAL: Enhance the Quality of Life in McKinney
MEETING DATE: December 19, 2017
DEPARTMENT: Parks and Recreation
CONTACT: Michael Kowski, Director of Parks and Recreation
RECOMMENDED CITY COUNCIL ACTION:
• Approval of the attached Ordinance
ITEM SUMMARY:
• This Ordinance amends expenditures in the FY2017-2018 Annual CIP Budget and the 2018-2022 Capital Improvements Program by transferring $2,600,000 from Parkland Dedication Zone 3 to the Parks Construction Fund and appropriating the funds into Project PK4396 Gabe Nesbitt Tennis Complex Expansion.
BACKGROUND INFORMATION:
• The Gabe Nesbitt Tennis Complex project was bid on December 1, 2017 in a manner consistent with State Law.
• The ability to award the construction bid and utilize the funds available for this project is contingent on transferring the aforementioned funds into the Gabe Nesbitt Tennis Complex Expansion Project, PK4396, as noted in the Item Summary.
• An accompanying Resolution to enter into a construction contract is also on this agenda for Council’s consideration.
FINANCIAL SUMMARY:
• The attached financial summary details the transfer of funds in the amount of $2,600,000 from the Parkland Dedication Fund Zone 3 to the Parks Construction Fund and appropriating the funds to CIP Project PK4396 Gabe Nesbitt Tennis Complex Expansion.
BOARD OR COMMISSION RECOMMENDATION:
• NA