Title
Amending the financing and spending plans in the Department of Public Works in the amount of $815,922.50 in additional revenues, $55,000.00 for transfer of appropriations in order to cleanup and realign projects.
Body
WHEREAS, in a continuing effort by the Department of Public Works to effectively manage capital budgets, there is a need to rectify the financing and spending within particular projects and to transfer program dollars into specific projects; and
WHEREAS, an additional amended award of $260,587 from Federal Revenue under the New Freedom Program was granted to the City and added to the capital budget under RES PH 13-277; and
WHEREAS, the required local match for the grant of $55,000.00 has been identified in the Signalized Intersection Safety Program; and
WHEREAS, rental income of $17,119 was received by the City under a short term lease agreement on the Payne/Maryland Acquisition Project; and
WHEREAS, County funding has been identified for the Payne/Maryland Project in the amount of $781,366.00, and
WHEREAS, the Payne/Maryland Project also contains $17,507.50 in sewer work to be funded by the Sewer Fund; 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 transfer, funds of $55,000.00 in the Capital Improvement Budgets; 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 $815,992.50 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 the Capital Improvement Budgets, as heretofore adopted and amended by this Council; be hereby further amended in the Improvement Budgets as detailed and shown on the attached Financial Analysis.
Financial Analysis
See Attachment.
CIB Recommendation
The St. ...
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