Explanation
1. BACKGROUND
This ordinance authorizes additional funding to acquire the various property rights necessary to complete the Arterial Street Rehabilitation - Hudson Street - I71 to Cleveland Avenue project.
The Department of Public Service is engaged in the Arterial Street Rehabilitation - Hudson Street - I71 to Cleveland Avenue project. The project will reconstruct Hudson Street between I-71 and Cleveland Avenue providing improvements to pavement, curb, sidewalk, shared use path, accessible crossings, and storm water facilities. Ordinance 2822-2019 authorized the City Attorney's Office to hire professional services and to negotiate with property owners to acquire the various property rights necessary to complete the Arterial Street Rehabilitation - Hudson Street - I71 to Cleveland Avenue project. Funding in the amount of $400,000.00 was established to begin acquiring the needed property rights. This ordinance requests $500,000.00 to continue acquisitions for this project. Another $500,000.00 is estimated to be needed to complete acquisition for this project. An ordinance is anticipated to be submitted for Council’s consideration for this additional funding in a few months after the proceeds of the upcoming bond sale for the 2020 capital improvement budget are received.
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 $500,000.00 are available for this expenditure within Fund 7704, the Streets and Highways Bond Fund. A budget amendment is needed to transfer voted carryover budget authority between projects within the Arterial Street Rehabilitation section of the Streets and Highway Bond Fund so budget authority is aligned with the correct project. It is necessary to appropriate funds within Fund 7704 so appropriation matches available cash within Arterial Street Rehabilitation. ...
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