Title
Ordinance in the Amount of $4,643,629 Establishing the Water Resources Capital Project Revenue Bond Fund Budget to Establish Funding for the Reedy Fork Water Line Extension and Sewer Outfall Project
Body
Council Priority: Maintain Infrastructure and Provide Sustainable Growth Opportunities
Department: Water Resources
Council District: All
Public Hearing: N/A
Advertising Date/By: N/A
Contact 1 and Phone: Michael Borchers, 336-373-2494
Contact 2 and Phone: Kristine Williams, 336-373-2556
PURPOSE:
The City of Greensboro Water Resources Department wishes to establish revenue bond funding for the Water Resources Capital Project Revenue Bond Fund budget for the Reedy Fork Water Line Extension and Sewer Outfall project. Council approval is requested for a budget ordinance to establish and permit the expenditure of funds.
BACKGROUND:
The work in this contract generally consists of installation of 6,822 linear feet of 24-inch ductile iron sanitary sewer outfall line, by open cut, and bore and jack. Additionally, the work consists of the installation of approximately 6,249 linear feet of 24-inch ductile iron water line and appurtenances with 5,349 feet installed by open cut, and 900 linear feet of 24-inch water line installed by directional drill, connecting to existing water lines near the intersections of Summit Avenue and Reedy Fork Parkway and Brown Summit Road and Chickasha Drive.
The proposed date for start of construction is August 2021. The proposed date of completion is June 2022.
BUDGET IMPACT:
This budget ordinance will increase the Water Resources Capital Project Revenue Bond Fund budget by $4,643,629 from revenue bond proceeds.
RECOMMENDATION / ACTION REQUESTED:
It is recommended by the Water Resources Department that City Council adopt the budget ordinance to establish the Water Resources Capital Project Revenue Bond Fund to provide funding in the amount of $4,643,629 for the Reedy Fork Water Line Extension and Sewer Outfall project.