Title
Amending the financing and spending plans in Department of Public Works to align the budget and closeout activities in the Central Corridor Project.
Body
WHEREAS, the City in the fall of 2009 approved a financing and spending plan for the Cities contribution to the Central Corridor Project which includes Central Corridor Streetscape (SU-5502384) and
WHEREAS, the Capital Improvement Budget Process added funding to the project in 2010, 2011, 2012, and 2013, and
WHEREAS, the Financing plan was amended in 2011 via resolution PH-11-1210 and again in 2013 via resolution 13-152, and
WHEREAS, the city entered into a number of Supplemental funding agreements to provide services to the Central Corridor Light Rail Project, and
WHEREAS, the Central Corridor Light Rail Transit project is now completed and final closeout of the project is now desired, and
WHEREAS, it is necessary to amend the financing plan to recognize the additional revenue received into the project, and
NOW, THEREFORE, BE IT RESOLVED, that the Council of the City of Saint Paul, upon recommendation of the Mayor, and the advice of the Long Range Capital Improvement Budget Committee, that said budget is hereby amended by the particulars in the attached financial Analysis.
Financial Analysis
See Attachment
CIB Recommendation
The Saint Paul Long-Range Capital Improvement Budget Committee received this request on October 12, 2015 and recommended approval.