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 Median Landscape Improvements along Ridge Road, Hardin Boulevard, and Airport Road
Summary
MEETING DATE: March 3, 2015
DEPARTMENT: Parks, Recreation and Open Space
CONTACT: Rhoda L. Savage, Director of Parks, Recreation and Open Space
RECOMMENDED CITY COUNCIL ACTION:
· Approval of Ordinance
ITEM SUMMARY:
· This Ordinance amends the FY 2014-2015 annual CIP budget and the 2015-2019 Capital Improvements Program, by transferring $285,411 from the Parkland/Median Fee Fund to the Parks Construction Fund and to set up a new CIP project PK4389 Ridge Road, Hardin Boulevard, and Airport Road Median Improvements.
· The breakdown of the funding will come from the following Median Escrow Zones:
o Zone G: $79,562
o Zone I: $130,119
o Zone J: $47,098
o Zone K: $28,632
BACKGROUND INFORMATION:
· Developers are required to comply with the median landscaping requirements found in the McKinney Code of Ordinances.
· The Code allows a developer to pay a median landscaping fee in lieu of installing landscaping along the median adjacent to their project.
· This Ordinance transfers funds to a new CIP project PK4389 and provides the funds needed for the design and completion of the installation of trees and irrigation along Ridge Road, Hardin Boulevard, and Airport Road.
FINANCIAL SUMMARY:
· The attached financial summary details the transfer of funds in the amount of $285,411 from the Parkland/Median Fee Fund (Median Escrow from Zone G $79,562, Median Escrow from Zone I $130,119, Median Escrow from Zone J $47,098, and Median Escrow from Zone K $28,632) to the Parks Construction Fund and to set up a new CIP project PK4389 Ridge Road, Hardin Boulevard, and Airport Road Median Improvements.
BOARD OR COMMISSION RECOMMENDATION:
· N/A