Title
Consider/Discuss/Act on a Resolution Amending the Fiscal Year 2017 - 2021 Capital Improvements Program to Transfer Funds to Cole Street Reconstruction (CO9151)
Summary
COUNCIL GOAL: Direction for Strategic & Economic Growth
MEETING DATE: October 4, 2016
DEPARTMENT: Development Services/Engineering
CONTACT: Gary Graham, PE, PTOE, Transportation and CIP Engineering Manager
Nick Ataie, PE, CIP Engineer
RECOMMENDED CITY COUNCIL ACTION:
• Approval of Resolution.
ITEM SUMMARY:
• This Resolution amends the 2017 - 2021 Capital Improvement Program by transferring $660,000 from the US 75 & SRT Lift Station Project (WW1623) to the Cole Street Reconstruction Project (CO9151).
BACKGROUND INFORMATION:
• There is an accompanying item on the Council Agenda authorizing a contract with Camino Construction, to provide construction services for the Cole Street Reconstruction Project (CO9151).
• The additional funding is required to cover the actual construction cost of water and sewer main replacements along the project inclusive of a 15% construction contingency for those specific items.
• The project construction cost for water and wastewater components was bid higher than the initial project funding available due to increased/rising construction costs in the area.
• The Cole Street Reconstruction Project (CO9151) received bids twice (initial bids rejected by Council Resolution) in order to obtain a more competitive bid.
• Cost savings in excess of what is requested have been identified on the US 75 & SRT Lift Station Project (WW1623) due to a design change and McKinney ISD participation.
FINANCIAL SUMMARY:
• The Amendment of the FY 2017 - 2021 Capital Improvement Program will deduct existing funding for project WW1623 in the amount of $660,000, and supplement existing funding for project CO9151 in the amount of $660,000.
BOARD OR COMMISSION RECOMMENDATION:
• N/A