Title
Amending the financing and spending plans in the Public Works Department in the amount of $40,000 to establish a new project in the 2014 Public Works Capital Budget known as the Central Corridor/University Avenue Two-Lane versus Four-Lane Study.
Body
WHEREAS, The Department of Public Works is proposing to establish a new project in the 2014 capital program known as the Central Corridor/University Avenue Two-Lane versus Four-Lane Study, and
WHEREAS, funding for the proposed study will be split between the Central Corridor Funders Collaborative, Blue Cross and Blue Shield and the City, and
WHEREAS, the Department of Public Works proposes to transfer the needed $40,000 in City Capital Improvement Bond funds from the Central Corridor Off-Street Parking Project which was approved for funding in the 2010 and 2011 capital budgets, and
WHEREAS, the proposed funding transfer is a consistent use of the capital funds in terms of addressing parking concerns along University Avenue, and
WHEREAS, this resolution establishes the Central Corridor/University Avenue Two-Lane versus Four-Lane Study as an approved 2014 Public Works capital project with the budget detailed herein, and
WHEREAS, the Mayor, pursuant to Section 10.07.4 of the Charter of the City of Saint Paul, does certify that there are available for re-appropriation (transfer), funds of $40,000 in the Capital Improvement Budgets; so
THEREFORE BE IT RESOLVED, by the Council of the City of Saint Paul, upon recommendation of the Mayor and advice of the Long Range Capital Improvement Budget Committee, that $40,000 is available for re-appropriation in the Capital Improvement Budgets, as heretofore adopted and amended by this Council, be hereby further amended in the Improvement Budgets in the following particulars:
Financial Analysis
See Attachment
CIB Recommendation
The Saint Paul Long-Range Capital Improvement Budget Committee received this request on February 10, 2014 and wishes to hold this resolution over until the next month's meeting for further information. , held the resolution over until the next CIB meeting for further information, and moved for approval on March 10, 2014.