Explanation
Background: The Public Service Department, Transportation Division, completed the Sancus Boulevard Improvement project some time ago. The project was closed out and any/all remaining funds were canceled. Subsequently, the Real Estate Division has made the division aware of a remaining $20,850.00 project-related land acquisition liability that is due NP Limited Partnership. This liability must be satisfied.
This ordinance authorizes the transfer of $20,850.00 between projects within the 1995, 1999 Voted Streets and Highways Fund and the payment of this amount to NP Limited Partnership.
Fiscal Impact: The Transportation Division did not budget for the Sancus Boulevard Improvement project in the 2004 Capital Improvement Budget. However, funds exist within the Transportation Division's facility improvement project that can be transferred for this purpose. The amount of funding earmarked for land acquisition for a future northwest outpost ($1,400,000.00) within this project's budget will be reduced by the expenditure authorized by this ordinance ($20,850.00).
Emergency action is requested to satisfy this liability as soon as possible.
Title
To authorize the transfer of $20,850.00 between projects within the 1995, 1999 Voted Streets and Highways Fund; to authorize the City Attorney to pay NP Limited Partnership $20,850.00 to satisfy an outstanding land acquisition-related liability for the Sancus Boulevard Improvement project for the Transportation Division; to authorize this expenditure from the 1995, 1999 Voted Streets and Highways Fund, and to declare an emergency. ($20,850.00)
Body
WHEREAS, the Public Service Department, Transportation Division, completed the Sancus Boulevard Improvement project; and
WHEREAS, the project was closed out and any/all remaining funds were canceled; and
WHEREAS, the Real Estate Division has made the division aware of a remaining $20,850.00 project-related land acquisition liabi...
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