Title
Amending the 2018 Operating Budget to provide financing for the CHA Elevator Modernization Project.
Body
WHEREAS, the Office of Financial Services Real Estate Section (“OFS Real Estate”) proposes to modernize its four passenger elevators located in the City Hall Annex by replacing original motors, outdated controllers, cables, door operators, wiring, card readers, cameras and other equipment, and providing upgrades to the car interiors (“CHA Elevator Modernization Project”); and
WHEREAS, OFS Real Estate has been working with an elevator consultant to conduct an assessment of the City Hall Annex elevator system and energy usage and to study options for modernizing the elevators and related controls and equipment and reducing energy usage; and
WHEREAS, the elevator consultant has prepared plans and specifications for the CHA Elevator Modernization Project, and OFS Real Estate now wishes to solicit bids for the modernization work; and
WHEREAS, OFS Real Estate estimates that the total cost to modernize the elevators in the City Hall Annex is $1,500,000; and
WHEREAS, the 2018 Operating Budget needs to be amended to finance the CHA Elevator Modernization Project; and
WHEREAS, OFS Real Estate proposes additional financing for the project through the use of fund balance from Fund 710, the City’s Central Service Fund, of which the City Hall Annex is a part; and
WHEREAS, OFS Real Estate has identified $1,500,000 of available fund balance in the Central Service Fund; 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 $1,500,000 in excess of those estimated in the 2018 Budget; now
THEREFORE BE IT RESOLVED, that the 2018 Operating Budget, as heretofore adopted by the City Council, is hereby further amended in the particulars as indicated in the attached Financial Analysis, to finance the proposed CHA Elevator Modernization Project.
Financial Analysis
See Attachment