Title
Ordinance in the Amount of $10,176,452 Amending the Water Resources Capital Project Bond Fund - Series 2018 Budget to Establish Funding for a Change Order to Contract 2017-0570 with Harper Corporation General Contractors for Construction Manager at Risk (CMAR) Construction Phase Services for the T.Z. Osborne Water Reclamation Facility Electrical Buildings and Electrical/Mechanical Project
Body
Department: Water Resources
Council District: 2
Public Hearing: N/A
Advertising Date/By: N/A
Contact 1 and Phone: Steven D. Drew, 373-7893
Contact 2 and Phone: Kristine Williams, 373-2556
PURPOSE:
The City of Greensboro Water Resources Department is requesting a contract change order to the T.Z. Osborne Water Reclamation Facility Electrical Buildings and Electrical/Mechanical project contract 2017-0570 for Construction Manager at Risk (CMAR) construction phase services. This project will require an increase of appropriation in the Water Resources Capital Project Bond Fund - Series 2018. This project is part of the overall Water Resources Capital Improvement Plan that has been previously discussed during the Water Resources budget briefing. Council approval is needed for a budget amendment to permit the additional appropriation of bond funds.
BACKGROUND:
The proposed budget amendment will enable the City to appropriate additional revenue bond funding in the Water Resources Capital Project Bond Fund - Series 2018 in the amount of $10,176,452 to fund a the CMAR construction phase services of the T.Z. Osborne Water Reclamation Facility Electrical Buildings and Electrical/Mechanical project and this project will increase the total fund budget. Additional bond anticipation notes are planned to be issued for cash flow purposes, as needed. The notes would be converted to permanent bond financing in 2018.
BUDGET IMPACT:
This amendment will increase the Water Resources Bond Fund - Series 2018 Budget by $10,176,452 from revenue bond funding.
RECOMMENDATION / ACTIO...
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