Title
Amending the financing and spending plans in the Department of Public Works in the amount of $2,716,388 in additional revenues to the Phalen Boulevard at Olive Street Traffic Signal Project and the Jackson Street - 11th to University Project.
Body
WHEREAS, there is a need to add financing sources to the Phalen Boulevard at Olive Street Traffic Signal Project and the Jackson Street - 11th to University Project; and
WHEREAS, the Department of Public Works is recommending the following changes to the financing and spending on these projects:
- Adding $78,500 of funding from Health Partners to the Phalen Boulevard at Olive Street Traffic Signal Project to cover 20 years of signal maintenance per the cooperative construction and cost agreement between Health Partners and the City.
- Adding $2,637,888 of federal funding into the Jackson Street - 11th to University Project.
WHEREAS, the Mayor, pursuant to Section 10.07.1 of the Charter of the City of Saint Paul, does certify that there is available for appropriation funds of $2,716,388; and
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 $2,716,388 is available for appropriation in the Capital Improvement Budgets, as heretofore adopted and amended by this Council, be hereby further amended in the Improvements 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 10, 2017 and recommended approval.