Title
Consider/Discuss/Act on an Ordinance Amending the Fiscal Year 2014-2015 Annual Budget and Amending the 2015-2019 Capital Improvements Program, to Provide Additional Funds for ST4257 Redbud Boulevard from Wilmeth Road to Bloomdale Road
Summary
MEETING DATE: December 1, 2014
DEPARTMENT: Development Services / Engineering
CONTACT: Joshua Cotton, PE, Senior CIP Engineer
Gary Graham, PE, PTOE, CIP and Traffic Manager
RECOMMENDED CITY COUNCIL ACTION:
* Approval of the Ordinance
ITEM SUMMARY:
* The current budgeted amount for this project is $2,650,000 which includes but is not limited to design, ROW, construction, and materials testing expenses. Construction bids have been received for the project, and the cost of the project has increased over the previously estimated construction cost.
* This Ordinance amends the FY2014-2015 annual budget and the 2015-2019 CIP for Redbud Boulevard from Wilmeth Road to Bloomdale Road (ST4257) by:
o Transferring $225,000 from Roadway Impact Fees (Zone E) to the Street Construction Fund project ST4257.
o And appropriating $225,000 in the Street Construction Fund for the Redbud Boulevard from Wilmeth Road to Bloomdale Road project (ST4257).
BACKGROUND INFORMATION:
* As the design of ST4257 progressed, the estimated construction costs for this project increased due to an escalation in contractor construction prices for roadway work. The City has seen a rise in construction costs over the past 3 months.
* Actual construction bids for this project came in higher than originally budgeted; therefore, funding must be increased accordingly.
* Roadway Impact Fees have been identified as an additional funding source for this project. Project E-12 in the Roadway Impact Fee Report within Zone E identifies the construction of Redbud Boulevard from Wilmeth Road to Bloomdale Road.
FINANCIAL SUMMARY:
* The financial summary below details the transfer of funds for Redbud Boulevard from Wilmeth Road ...
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