Title
Amending the financing and spending plans in the Fire Department Capital Projects budget in the amount of $1,750,000 for the Fire Station 7 project.
Body
WHEREAS, the original budget for the Fire Station 7 project was $9 million; and
WHEREAS, recent project estimates are higher than the original budget due to inflationary pressure on materials and labor costs; and
WHEREAS, updated sales tax bonding assumptions allows for additional funding available of the $1,750,000 to support the additional expenses for this project; and
WHEREAS, design changes and additional bond proceeds will close the project gap; and
WHEREAS, the Fire Department wishes to accept said funds and amend the financing and spending plans; and
WHEREAS, these funds will be used for construction costs for the new Fire Station 7 project; and
WHEREAS, the Mayor pursuant to Section 10.07.1 of the Charter of the City of Saint Paul, does certify that there are available for appropriation of funds of $1,750,00 in excess of those estimated in the 2023 Capital Improvement Budget; NOW
THEREFORE, BE IT RESOLVED, that the City Council finds that there is a public purpose in providing a new fire station to the east side and that acceptance of said funding will enable the project to move forward; and be it
FURTHER RESOLVED, that the City Council upon recommendation of the Mayor and advice of the Long Range Capital Improvement Committee, that the $1,750,000 in excess is available for the appropriation in the 2023 Capital Projects Budget, and said 2023 budget, is heretofore adopted by the Council, is hereby further amended by the particulars as specified in the attached financial analysis.
Financial Analysis
See Attachment "Fire Station 7 $1,750,000 Funding"
CIB Recommendation
The St. Paul Long-Range Capital Improvement Budget Committee received this request on February 13, 2023 and recommended approval.