Title
Amending the financing and spending plans in the Department of Public Works Capital Budget for the Grand Avenue - Snelling to Fairview Project, Grand at Fairview Signal Project and the Grand/Snelling Intersection Improvement Project.
Body
WHEREAS, the City of Saint Paul established a 1% sales and use tax to fund street and parks and recreation facilities improvements over the next 20 years; and
WHEREAS, in 2024 the Department of Public Works is planning to use sales tax funding to replace the Municipal State Aid funding on the Grand - Snelling to Fairview and the Grand/Snelling Intersection Improvement projects as shown in Five Year Capital Plan adopted by the City Council on December 6, 2023; and
WHEREAS, there is a need to add $10,200,000 sales tax funding, $1,000,000 assessment funding, $850,000 Saint Paul Sewer Utility funding and $700,000 Saint Paul Regional Water funding to the Grand - Snelling to Fairview Project; and
WHEREAS, there is a need to add $502,000 sales tax funding, $368,000 MnDOT funding, $50,000 Saint Paul Sewer Utility funding and $25,000 Saint Paul Regional Water funding to the Grand/Snelling Intersection Improvement Project; and
WHEREAS, there is a need to remove $7,542,000 in Municipal State Aid from the Grand - Snelling to Fairview Project, Grand @ Fairview Signal Project and Grand/Snelling Intersection Improvement 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 funds of $13,695,000; and
WHEREAS, the Mayor, pursuant to Section 10.9 of the Charter of the City of Saint Paul, does certify that there are lapsed appropriations of $7,542,000; now, 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 $13,695,000 is available for appropriation and there is $7,542,000 in lapsed appropriations in the Capital Improvement Budget, that said budget, as heretofore adopted and amended by the Council, is hereby further amended as specified in the attached financial analysis.
Financial Analysis
See Attachment.
CIB Recommendation
The St. Paul Long-Range Capital Improvement Budget Committee reviewed this request on January 8, 2024 and recommended approval.