Title
Consider/Discuss/Act on an Ordinance Amending the Fiscal Year 2023-2024 Annual Budget and Amending the 2024-2028 Capital Improvements Program, to Provide Funds for the McKinney Greens Park (PK2109)
Summary
COUNCIL GOAL: Enhance the Quality of Life in McKinney
(5A: Create affordable recreational and cultural arts activities for all ages throughout the city)
(5B: Develop Parks strategy to preserve green space for future park land)
(5C: Continue to market and highlight McKinney as a unique destination for residents and visitors alike)
(5E: Develop sustainable quality of life improvements within the City of McKinney)
MEETING DATE: May 21, 2024
DEPARTMENT: Parks and Recreation
CONTACT: Amy Kinkade, Director of Parks and Recreation
RECOMMENDED CITY COUNCIL ACTION:
• Approval of the ordinance.
ITEM SUMMARY:
• This is a budget amendment for the McKinney Green Park Project to allow for additional resources to construct the project as designed.
BACKGROUND INFORMATION:
• An accompanying Resolution for a construction contract is also on this agenda for City Council approval.
FINANCIAL SUMMARY:
• This Ordinance amends the Fiscal Year 2023-2024 Annual Budget and the 2024-2028 Capital Improvements Program by appropriating $1,300,000 from the Parks Construction Fund balance to the Capital Improvement Program for the McKinney Greens Park Project PK2109.
• With this amendment, the total project budget will increase from $1,700,000 to $3,000,000.
• Upon approval of the accompanying construction contract, $479,732.83 will remain in project PK2109.
BOARD OR COMMISSION RECOMMENDATION: N/A