Title
Approval of Budget Amendment #4320G1-01-23-12 for matching funds for the construction portion of the Swaybranch Stormwater Detention Pond Rehabilitation Project in the amount of $40,000.
Public Works/Environmental
Body
Item Summary:
In 2010, the City entered into an agreement with the U.S. Army Corps of Engineers (USACE) for reconstruction of the "Swaybranch" pond. The total project cost is $1,046,444. The construction cost is higher than the original estimate, and the value of the land match was reduced, so an additional $40,000 (includes $10,000 contingency) is needed for the City's required 25% match which is $261,611. The City had previously committed a total of $125,000, plus the land, now valued at $106,222, for a total of $231,222.
The Soil Erosion Fund Committee approved an additional expenditure of $40,000 on January 5, 2012.
Committee or Staff Recommendation:
On January 10, 2012 the Public Safety and Public Works Committee recommended placing this item on the January 23, 2012 Mayor and Council Agenda.
Financial Impact:
Budget Amendment 4320G1-01-23-12 will allocate $40,000 of Soil and Erosion Fund, fund balance for this project. The Soil and Erosion Fund currently has an estimated available fund balance of $209,469. After this action there will be $169,469 available. Funds will be budgeted in Cost Center 4320G1, Account #541200, Project #11GRA002. Unspent contingency funds will be returned to the Soil Erosion Fund.
Presented by:
Stuart A. Moring, P.E., Director of Public Works/Environmental