Explanation
1. BACKGROUND
This ordinance authorizes additional funding to acquire the various property rights necessary to complete the Roadway Improvements - Short Street - Liberty to Sycamore Street project in an amount up to $250,000.00.
The Department of Public service is engaged in the Roadway Improvements - Short Street - Liberty to Sycamore Street project. The project includes extending Short Street from Liberty Street south to make a connection with Sycamore Street. It also includes a five-foot wide sidewalk on the east side of Short Street and an eight-foot wide shared use path on the west side of Short Street, with drainage improvements and pervious pavers.
Ordinance 1684-2019 authorized the City Attorney's Office, Real Estate Division, to hire professional services and to negotiate with property owners to acquire the various property rights necessary to complete the Roadway Improvements - Short Street - Liberty to Sycamore Street project. Funding in the amount of $100,000.00 was established to acquire the needed property rights. The appraisals for the land to be acquired came back much higher than anticipated. The additional cost required to acquire the right-of-way needed to complete the project is estimated at $250,000.00. If the cost to acquire the needed right-of-way should exceed this estimate, additional legislation will be submitted to Council requesting the needed funding.
The Department of Public Service is currently finalizing construction plans and is prepared to authorize right-of-way acquisition pending passage of this funding ordinance.
2. FISCAL IMPACT
Funds in the amount of $250,000.00 are available within the Brewery District TIF, Fund 4409. It is necessary to transfer funds from the Brewery District TIF to the Brewery District Fund, Fund 7740, for the funds to be expended for this acquisition. Funds will need to be appropriated within Fund 4409 to do the transfer and within Fund 7740 so they can be expended.
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