Title
Ordinance in the Amount of $1,150,689 Increasing the Budget for Amended Agreement with NC Department of Transportation for U-5326: Market/College/Guilford College Intersection Project
Body
Council Priority: Maintain Infrastructure and Provide Sustainable Growth Opportunities
Department: Transportation
Council District: 4 & 5
Public Hearing: N/A
Advertising Date/By:
Contact 1 and Phone: Hanna Cockburn, 604-9243
Contact 2 and Phone: Tyler Meyer, 373-2254
PURPOSE:
An ordinance needs to be approved increasing the budget for an amended agreement with NCDOT for U-5326: Market/College/Guilford College Intersection project.
BACKGROUND:
The City is currently in the later stages of construction of this NCDOT supported roadway, intersection, and sidewalk project along Market Street, College Road and Guilford College Road. Per City request, NCDOT has agreed to provide additional funding to support additional costs required to complete the project and the contracted engineering inspections work associated with it. This Agreement specifies the reimbursement amount and the steps the City must follow in order to receive the funding. Under this grant, NCDOT will reimburse the City up to an additional $1,150,689 in state funds.
BUDGET IMPACT:
The budget for this project will increase by $1,150,689 in state funds. No local match is required.
RECOMMENDATION / ACTION REQUESTED:
The Transportation Department recommends and requests approval of the attached ordinance increasing the budget for the amended agreement for U-5326: Market/College/Guilford College Intersection project.