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Amending the financing and spending budgets in the Department of Public Works in the amount of $3,681,349 for the Prince Street Construction Project, approved on Council File RES PH 13-60, in order to cover the additional costs associated with soil contamination and remediation efforts and the added costs to purchase the right-of-way necessary to construct the roadways.
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WHEREAS, the Department of Public Works is currently under contract to construct Prince Street, Willius Street and Lafayette Street in Lowertown, and
WHEREAS, testing of the soils in the area has resulted in the discovery of contamination requiring the soil to be removed from the project site and new soils brought to the site in order to construct the roadways and sewer systems, and
WHEREAS, the contamination and remediation efforts have resulted in increased costs to the project and it is proposed to transfer sewer financing and future year MSA financing to cover the added costs, and
WHEREAS, the cost associated with the soil remediation efforts will be covered by adding Sewer financing, future year MSA financing, and TIF financing to the project, and
WHEREAS, the cost to acquire the property necessary to construct the roadways is anticipated to come in higher than estimated pending Commissioner hearings and recommended award amounts, and
WHEREAS, Public Works is preparing for the worst case scenario for the property acquisition based on recent case history with property settlements, 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, funds of $3,181,349 in the Capital Improvement Budgets; so
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 transfer appropriation, funds of $500,000 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 $3,681,349 is available for 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 December 8, 2014 and recommended approval.