Title
Ordinance in the Amount of $187,000 Amending the Street & Sidewalk Capital Project Fund
Body
Department: Engineering & Inspections
Council District: 2 and 3
Public Hearing:
Advertising Date/By:
Contact 1 and Phone: Ted Partrick, Engineering Manager, 373-2308
Contact 2 and Phone: Tyler Meyer, GDOT Planning Manager, 373-2254
PURPOSE:
Consider adoption of a budget ordinance amendment in the amount of $187,000 to appropriate $142,000 in funds for the purchase of Right-Of-Way (ROW) for the East Cone Boulevard Extension Project and $45,000 in funds to match NCDOT funds for improvements in conjunction with the Eastern Urban Loop Project U-2525 B.
BACKGROUND:
On March 5, 2013 the City Council authorized the sale of City property to NCDOT for a portion of the Urban Loop Project in the amount of $417,450 to be credited in the General Fund when it was received. The City received payment from NCDOT on May 8, 2014. At this time, City staff is requesting City Council approval to use $187,000 of the funds to purchase ROW for the East Cone Boulevard Extension Project ($142,000) and to match NCDOT funds for sidewalk construction in conjunction with the Eastern Urban Loop Project U-2525 B ($45,000). Because a portion of the ROW being acquired for the Cone Extension Project and all of the property for the sidewalk project are currently located outside of the City limits, they are not eligible to be funded with Street Improvement Bonds. The ROW for the East Cone Boulevard Extension Project will be annexed within the next 6-12 months so that Street Improvement Bonds can be used to construct the Project. The property for the sidewalk project is expected to be annexed within 4-6 years dependent upon development activity at that location.
Separate agenda items accompanying this item are also to be considered for Cone Extension Project ROW acquisition and NCDOT/City Project U-2525 B.
BUDGET IMPACT:
Funds in the amount of $187,000 receiv...
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