Title
Ordinance in the Amount of $275,000 Amending Parks and Recreation Bond Fund Budget to Revise Budget For Spencer Love Tennis Complex Improvements
Body
Department: Parks and Recreation
Council District: 3
Public Hearing: N/A
Advertising Date/By: N/A
Contact 1 and Phone: Phil Fleischmann, 373-3275
Contact 2 and Phone: Wade Walcutt, 373-2964
PURPOSE:
To accept and disburse funding for Spencer Love Tennis Complex facility improvements, a budget ordinance amending the project budget is needed in accordance with current City fiscal procedures.
BACKGROUND:
At its January 6, 2015 meeting, Council approved a budget ordinance which established a preliminary project budget for improvements at Spencer Love Tennis Center (Item #15-0030). Since that time, the scope of Phase 1 of the improvement project has been defined to include renovation of the existing 13 courts at the complex, firm cost estimates for this work have been received, and private funding for the project has increased from the previously budgeted level. For these reasons, this budget ordinance is necessary in order to allow for the project to continue.
This original project budget reflected donations and private contributions of $190,000. An additional $275,000 in private contributions has been committed for a total of $465,000.
A separate agenda item, 16-0953, for Council's consideration at this meeting will allow for Phase 1 of the project to be contracted in order to proceed with this established budget.
BUDGET IMPACT:
The overall budget impact of Phase 1 of the project is estimated at $499,797, the value of the contract that is proposed in agenda item 16-0953. The adoption of this budget ordinance allocates the additional funding and private contributions necessary to complete Phase 1 of the project in account number 453-5010-01.
RECOMMENDATION / ACTION REQUESTED:
It is recommended that the City Council adopt the attached budget ordinance amending the project budget for Spencer Love Tenn...
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