Title
Amending the financing and spending plans in the Department of Public Works Capital Budget by transferring $444,582 in revenues to the 2020 Randolph Bridge Project.
Body
WHEREAS, MnDOT’s Lafayette Bridge Project over the Mississippi River is complete; and
WHEREAS, the City’s local share was budgeted in the 2012 Lafayette Project budget, which has available CIB funding in the amount of $444,582; and
WHEREAS the 2020 Randolph Bridge @ the Xcel High Bridge Plant needs additional funding; and
WHEREAS, the Department of Public Works plans to transfer $444,582 of CIB funding from the 2012 Lafayette Bridge Project to the 2020 Randolph Bridge Project; and
WHEREAS, the Mayor, pursuant to Section 10.07.4 of the Charter of the City of Saint Paul, does certify that there is available for transfer of appropriation of funds of $444,582; 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 $444,582 is available for transfer of 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 St. Paul Long-Range Capital Improvement Budget Committee received this request on September 14, 2020 and recommended approval.