...Title
Amending the financing and spending budgets in the Public Works Capital Funds for the 2018 Sidewalk Reconstruction Program.
...Body
WHEREAS, the Department of Public Works is no longer using assessment financing for sidewalk reconstruction; and
WHEREAS, there is a need to remove $501,452 of assessment financing from the 2018 Sidewalk Reconstruction Program; and
WHEREAS, the Department of Public Works plans to construct sidewalk on Wheeler from University to Thomas at a cost of $100,000, which is 100% assessed; and
WHEREAS, the City of Saint Paul received $148,533 in funding from Ramsey County’s 2018 municipally led Project Program for the following sidewalk reconstruction projects:
• Energy Park Drive - Snelling to Lexington
• Randolph Avenue - Cleveland to Fairview
• Larpenteur Avenue - Galtier to Rice
WHEREAS, the City’s 50% cost share for the sidewalk reconstruction projects in the amount of $148,533 will be funded from the Sidewalk Program; and
WHEREAS, the City’s 50% cost share for the new sidewalk construction on Larpenteur in the amount of $42,500 will be funded by assessments; and
WHEREAS, the Department of Public Works recommends removing $501,452 of assessment financing, adding $148,533 of Ramsey County financing and adding $142,500 of assessment financing to the 2018 Sidewalk Reconstruction Program; and
WHEREAS, the Mayor, pursuant to Section 10.07.3 of the Charter of the City of Saint Paul, does certify a reduction of appropriation of $501,452; and
WHEREAS, the Mayor, pursuant to Section 10.07.1 of the Charter of the City of Saint Paul, does certify that there is available for appropriation funds of $291,033; and
THEREFORE, BE IT RESOLVED by the Council of the City of Saint Paul, upon recommendation of the Mayor, that there is a $501,452 reduction of appropriation and that $291,033 is available for appropriation, as heretofore adopted and amended by this Council, be hereby further amended in the Budgets in the following particulars:
...Financial Analysis
See Attachment.