Title
Consider/Discuss/Act on an Ordinance Amending the Fiscal Year 2016 - 2017 Annual Budget and Amending the 2017 - 2021 Capital Improvements Program to Transfer Funds to Virginia Parkway Lanes 5 & 6 from Ridge Road to US 75 (ST1219/ST1231/WA9145)
Summary
COUNCIL GOAL: Direction for Strategic & Economic Growth
MEETING DATE: January 3, 2017
DEPARTMENT: Development Services / Engineering
CONTACT: Gary Graham, PE, CIP & Transportation Engineering Manager
Blake Sills, PE, CIP Engineer
RECOMMENDED CITY COUNCIL ACTION:
• Approval of the Ordinance.
ITEM SUMMARY:
• This Ordinance amends the 2016 - 2017 Annual Budget and the 2017 - 2021 Capital Improvement Program by transferring the following funds:
O $120,000 from the Unallocated Streets Construction Fund Balance to Virginia Parkway Lanes 5 & 6 from Bellegrove Drive to US 75 (ST1219)
O $275,000 from the Unallocated Utility Construction Fund Balance to Virginia Water Main from Dogwood Trail to US 75 (WA9145)
O $1,070,000 from the Unallocated Streets Construction Fund Balance to Virginia Parkway Lanes 5 & 6 from Ridge Road to Bellegrove Drive (ST1231)
• The total project cost will increase $1,465,000.
BACKGROUND INFORMATION:
• There is an accompanying item on the Council Agenda authorizing a contract with Pavecon Public Works, L.P., to provide construction services for the construction of Virginia Parkway Lanes 5 & 6 from Ridge Road to US 75.
• There is an accompanying item on the Council Agenda authorizing a contract with Terracon Consultants, Inc., to provide materials testing services for the construction of Virginia Parkway Lanes 5 & 6 from Ridge Road to US 75.
• There is an accompanying item on the Council Agenda authorizing a supplemental agreement with Halff Associates, Inc., to provide bridge inspection services for the construction of the Virginia Parkway Bridge and Overlook Structure over Wilson Creek.
• The project construction cost for the project is higher than the initial project funding available due to increased/rising construction costs in the area.
FINANCIAL SUMMARY:
• The Amendment of the FY 2017 - 2021 Capital Improvement Program will deduct existing funding from the Unallocated Street Construction Fund Balance in the amount of $120,000, and supplement existing funding for project ST1219 in the amount of $120,000.
• The Amendment of the FY 2017 - 2021 Capital Improvement Program will deduct existing funding from the Unallocated Utility Construction Fund Balance in the amount of $275,000, and supplement existing funding for project WA9145 in the amount of $275,000.
• The Amendment of the FY 2017 - 2021 Capital Improvement Program will deduct existing funding from the Unallocated Street Construction Fund Balance in the amount of $1,070,000 and supplement existing funding for project ST1231 in the amount of $1,070,000.
BOARD OR COMMISSION RECOMMENDATION:
• N/A