Title
Conduct a Public Hearing and Consider/Discuss/Act on an Amendment to Project Grant #16-03, McKinney Armed Services Memorial Board Gold Star Memorial, to Provide Additional Funding in an Amount Not to Exceed Twenty Thousand Dollars ($20,000); Total Construction Cost, with Contingency, is Estimated to be One Hundred, Sixty-Five Thousand Dollars ($165,000); Total Amount Requested from MCDC Represents 100% of Project Cost
Summary
COUNCIL GOAL: Enhance the Quality of Life in McKinney
MEETING DATE: April 27, 2017
DEPARTMENT: McKinney Community Development Corporation
CONTACT: Cindy Schneible, President
ITEM SUMMARY:
* McKinney Armed Services Memorial Board submitted a supplemental Project Grant Application requesting additional funding, in an amount not to exceed $20,000 for the Gold Star Memorial Project approved by the MCDC Board in March, 2016.
* If approved, MCDC funds would total an amount not to exceed $165,000.
BACKGROUND INFORMATION:
* In 2016, the McKinney Armed Services Memorial Board proposed construction of a monument to Gold Star families to be installed in Veterans Memorial Park.
* MCDC approved funding for The Gold Star Memorial Project, in the amount of $145,000 in March, 2016 (MCDC #16-03).
* Total estimated cost for construction of the project is $165,000 based on the contractor's bid of $163,135 and contingency of $28,865.
* The Armed Services Memorial Board has secured $9,000 in cash and $14,000 in pledges to date and fundraising continues.
* The additional $20,000 requested from MCDC would serve as a "backstop" to allow authorization to proceed with the contract and begin construction with a completion date of fall 2017.
FINANCIAL SUMMARY:
* Total amount of the grant awarded for the Gold Star Memorial Project from MCDC in 2016 (#16-03) was $145,000.
* McKinney Armed Services Memorial Board has raised $9,000 in cash and $14,000 in pledges for the project.
* The additional amount of up to $20,000 in funding, if approved by MC...
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