Title
Consider/Discuss/Act on an Ordinance Amending the 2011-2012 Annual Budget, Including the 2012-2016 Capital Improvements Program, from the Parkland Dedication Fund Zone 3 to Project PK5085 for the Bonnie Wenk Park Phase I Project.
Summary
MEETING DATE: May 1, 2012
DEPARTMENT: Parks, Recreation and Open Space
CONTACT: Lemuel Randolph, Director of Parks, Recreation and Open Space
RECOMMENDED CITY COUNCIL ACTION:
· Approval of the attached Ordinance.
ITEM SUMMARY:
· This ordinance authorizes the addition of $100,000 from the Parkland Dedication Fund - Zone 3 balance to CIP Project PK5085 - Bonnie Wenk Park.
· Bids for construction have been received and the recommended contract exceeds the originally estimated cost of construction by $7,717.
· This budget amendment will also cover the $42,400 construction administration contract.
· The remaining $49,883 is designated as project contingency and any funds not used will go back into Parkland Zone 3.
· With previous actions and administrative transfers this Budget Amendment will bring the total project cost of CIP Project PK5085-Bonnie Wenk Park, to $5,805,913.
BACKGROUND INFORMATION:
· A concurrent agenda item recommends awarding a construction contract to JC Commercial, Inc. for the Bonnie Wenk Park Phase I project.
FINANCIAL SUMMARY:
· Bonnie Wenk Park (PK5085) is a FY 11-12 Capital Improvements Program project funded by Collin County grant, MCDC funds, and Parkland Dedication funds.
BOARD OR COMMISSION RECOMMENDATION:
· On April 28, 2012, the Parks, Recreation and Open Space Advisory Board recommended to City Council that these funds be transferred.