Title
Amending the financing and spending budgets in the Department of Public Works to fully fund the Reconstruction of the Kellogg Bridges at Market and St. Peter Streets known as SU-1702332 and SU-1703186 and approved on Council File(s) RES 09-1368 and PH 14-24.
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WHEREAS, the Department of Public Works is in the process of awarding a contract for the reconstruction of the Kellogg Bridges at Market and St. Peter that was approved by Council over multiple capital budget years, and
WHEREAS, the bid amounts received are higher than the engineer's estimate for the project due in part to one of the bridges being delayed so they both could be reconstructed at the same time, and
WHEREAS, the Minnesota Department of Transportation Division of State Aid has agreed to fund the needed amount with State Bridge Bonds in order to award the contract for the reconstruction of the Kellogg Bridges, and
WHEREAS, the federal funding awarded to the project also increased due to the project being delayed and applying an inflation factor,
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, additional funds of $2,848,600 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 additional funds of $2,848,600 are available for appropriation 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 March 9, 2015 and recommended approval.