ITEM TITLE:
#23-31 - Amending The 2023 City Budget by Transferring $350,000 from Unassigned General Fund Balance to the Park Meals Hill Development Account and Authorizing Expenditure of Funds for Design and Construction Administration
SUBMITTED BY: Nathan Duval, Interim City manager
FISCAL NOTES:
Expenditure Required: $350,000
Unencumbered Balance: N/A
Funding Source: General Fund
RECOMMENDATION:
Approve Resolution 23-31
SUMMARY STATEMENT:
As discussed with the City Council on the May 3rd, 2023 meeting there is inadequate funds available for the completion of all the design elements required for the EDA grant. Neither the EDA grant monies or the EVOS grant funds are eligible to cover these costs. Council requested that Staff look into using repurposed funds from EVOS to offset the request. The request to reallocate monies was denied by Great Land Trust.
As a result of denial from both EDA and Great Land Trust the request is for the City Council to appropriate $350,000 toward the final design of the additional trail elements (mountain bike and multi-use), construction administration, and inspection throughout construction, and technical design support to ensure compliance with the EDA grant requirements.
During the latest design review with the Parks & Recreation Commission there was consensus among the commission to recommend that the Council approve this action.