Explanation
This ordinance provides an additional $135,127.00 to prevent inspection deficits for four projects. These projects include Hard Road Phase B, Gay Street, Resurfacing 2004 Phase 1, and Hamilton and Long.
Hard Road and Gay Street projects require additional inspection funds because the original contracts have been modified two times without increasing construction inspection funding. Resurfacing 2004 requires additional inspection funding due to the fact that the project was under budget and thus additional work was done without increasing construction inspection funding. Funding is needed for the agreed upon construction inspection fees for the Hamilton and Long Improvement project incurred by the City as a potential economic engine of attracting further redevelopment capital investments and further advancing the economic growth in the surrounding area.
Fiscal Impact: $71,526.00 is available from cancelled construction inspection encumbrances for construction contracts that have been completed. The remainder of funds needed are available within the Federal State Match and Roadway Improvement Projects within the 2006 CIB.
This legislation transfers $100,000.00 between projects within the 1995, 1999, 2004 Voted Streets and Highways Fund as appropriate. Some of this money is then transferred to and appropriated within Fund 765 consistent with where the original construction inspection expenses were incurred. Finally, it authorizes the expenditure of $135,127.00 for construction inspection.
Emergency action is requested in the interest of maintaining proper accounting and Fund integrity in a timely manner.
Title
To authorize the City Auditor to transfer $100,000.00 between projects within the 1995, 1999, 2004 Voted Streets and Highways Fund; to authorize the City Auditor to transfer $100,000.00 between Funds; to authorize the appropriation of $100,000.00 within the Federal State Highway Engineering Fund; to authorize the ...
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