Title
Amending the 2008 Capital Improvement Budget in the Department of Parks and Recreation by increasing the Financing and Spending budget by $112,107 for additional Federal Funds that will be received from the Transportation Enhancement grant for the development of the Cherokee Park Regional Trail.
Body
WHEREAS, the Department of Parks and Recreation has received federal funds for the development of the Cherokee Regional Trail in the amount of $1,090,000.00; and
WHEREAS, the State of Minnesota has received additional $43 million in federal funds for fiscal year 2012 and $13 million will be used on local projects where fiscal funding is less than 80%; and
WHEREAS, Cherokee Regional Trail will receive $112,107.00 of the $13 million in additional federal funds originally programmed for fiscal year 2012; 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 $112,107.00 in excess of those estimated in the 2008 Capital Improvement Budget; now, therefore, be it
RESOLVED, by the City Council of the City of Saint Paul, upon recommendation of the Mayor and the advice of the Long Range Capital Improvement Budget Committee, that $112,107.00 is available for appropriation in the 2008 Capital Improvement Budget, and said 2008 budget, as heretofore adopted by the Council, is here by further amended in the particulars as specified in the attached financial analysis.
Financial Analysis
See Attachment.
CIB Recommendation
The St. Paul Long-Range Capital Improvement Budget Committee received this request on June 11, 2012 and recommended approval.