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 Median Landscape and Irrigation of Medians along Alma Road between Joshua Tree Trail and Stacy Road and Silverado Trail between Big Fork Trail and Ironstone Lane and Stacy Road between Haystack Drive and Custer Road
Summary
MEETING DATE: April 15, 2014
DEPARTMENT: Engineering
CONTACT: Tony Nielsen, Parks Development Superintendent
RECOMMENDED CITY COUNCIL ACTION:
· Approval of Ordinance.
ITEM SUMMARY:
· This Ordinance amends the FY 2013-2014 annual budget and the 2014 -2018 CIP plan, by transferring $249,377 to a new CIP project (PK4313) from the Median Escrow Fees (Zone H).
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.
· When fees are paid in lieu of installation, the City is required to expend the funds within 6 years of collection and a portion of the funds in the five zones listed above are nearing at the deadline.
· This Ordinance transfers funds to a new CIP project and provides the funds needed for the completion of the installation of landscape trees and irrigation.
FINANCIAL SUMMARY:
· The attached financial summary details the transfer of funds from Median Escrow Fee Zone H.
BOARD OR COMMISSION RECOMMENDATION:
· N/A