Title
Amending the financing and spending plans in the Department of Public Works Capital Budget in the amount of $600,000 in additional Minnesota Department of Transportation Trunk Highway funding.
Body
WHEREAS, the Department of Public Works Pascal-Snelling Improvements Project includes street infrastructure improvements around the soccer stadium including: removing the signal at Snelling and Spruce, constructing a signal at Snelling and Shields, median revisions on Snelling and signal construction at St. Anthony and Pascal; and
WHEREAS, the project funding includes $750,000 of Tax Increment financing (RES PH 17-323) and $355,000 Municipal State Aid financing (RES PH 18-133); and
WHEREAS, there is a need to add $600,000 of MnDOT Trunk Highway financing to the project budget; and
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 $600,000; 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 $600,000 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 September 10, 2018 and recommended approval.