Title
Amending the financing and spending budgets in the Department of Public Works under the Griggs Avenue and Jefferson Avenue Bicycle and Streetscape projects by transferring $678,213.00 and recognizing additional financing of $243,000 Federal TLC Funds.
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WHEREAS, the Department of Public Works is in the process of awarding a contract for the Griggs Avenue and Jefferson Avenue Bicycle and Streetscape projects, and
WHEREAS, in order to fully fund the projects all of the appropriate transfers and financing sources need to be added to the project, and
WHEREAS, the projects are receiving additional Federal Transit for Livable Communities (TLC) funding that needs to be added to the project budget, and
WHEREAS, there is a need to add MSA funding to the Jefferson project from MSA contingency, and CIB funding to both projects from the Pierce Butler/Lexington Bike Path and the Palace Recreation Center Projects, 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 $243,000.00 in the Capital Improvement Budgets; 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 $678,213.00; 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 $243,000.00 is available for appropriation in the Capital Improvement Budgets and $678,213.00is available for transfer 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 July 14, 2014 and voted down the resolution.