Title
Approving the transfer of $100,000 of 8-80 financing from the Jackson Street Reconstruction & Capital City Bikeway project (Phase I) into the Rondo Commemorative Plaza project, and authorizing the acceptance of $200,000 of additional federal funds from the Minnesota Department of Transportation for the Margaret Street Bicycle Boulevard Project.
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WHEREAS, the City has been working in collaboration with Mn/DOT and Ramsey County in an effort to work on rebuilding community connections across I-94 and rethinking the future of the I-94 corridor and its impact to neighborhoods, and
WHEREAS, the City has identified a surplus of 8-80 funding in the Jackson Street Reconstruction & Capital City Bikeway (Phase I) project that Public Works proposes to transfer for use on the Rondo Commemorative Plaza project, and
WHEREAS, the Department of Public Works has recognized the Rondo Commemorative Plaza as an appropriate use for the 8-80 bond financing being as it will attract all people from 8 to 80 and is consistent with the 8-80 theme of ‘Creating Vibrant Places and Spaces,’ and
WHEREAS, all other projects funded with 8-80 financing have been completed or will be completed and are in no need of additional financing making these 8-80 funds available for use on the Rondo Commemorative Plaza, and
WHEREAS, the Minnesota Department of Transportation has agreed to allocate an additional $200,000 of federal funding into the Margaret Street Bicycle Project as part of this collaborative funding agreement partnership effort between Mn/DOT,Ramsey County and the City, 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 $200,000 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 $100,000 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 $100,000 is available for transfer in the Capital Improvement Budgets and $200,000 is available for appropriation in the capital improvement budget, 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 June 12, 2017 and recommended approval.