Title
Consider/Discuss/Act on a Resolution Authorizing the Application and Acceptance, if Awarded, of a Collin County Parks and Open Space Project Funding Assistance Program for the Construction of Bonnie Wenk Park Phase II
Summary
COUNCIL GOAL: Direction for Strategic Growth
MEETING DATE: June 21, 2016
DEPARTMENT: Parks and Recreation
CONTACT: Rhoda L. Savage, Director of Parks and Recreation
RECOMMENDED CITY COUNCIL ACTION:
• Approval of the attached Resolution.
ITEM SUMMARY:
• The proposed Resolution authorizes the application for and acceptance of, if awarded, a Collin County Parks and Open Space Funding Assistance Program grant for construction of Bonnie Wenk Park Phase II.
• The Parks and Recreation Department is requesting assistance in the amount of $1,000,000.
• This funding program requires a 50% match from the City. Currently funding is available in the Bonnie Wenk Park Phase II project (PK3222).
• The application submission deadline to Collin County is July 11, 2016, with an award announcement in October of this year.
BACKGROUND INFORMATION:
• Phase II of Bonnie Wenk Park construction documents are about 95% complete.
• Construction bid award is expected this fall.
FINANCIAL SUMMARY:
• The grant will be awarded this fall with funds available in FY17.
• The funding source for the matching funds for this grant application are General Obligation Bonds of $4.4 M from PK3222.
• Grant funds would be used to supplement the budget, adding to the overall funds available for Phase II construction.
BOARD OR COMMISSION RECOMMENDATION:
• N/A