Title
Resolution Amending Agreement in the Amount of $634,671 with NC Department of Transportation for Downtown Greenway Phase 2 Project EL-5101 DJ
Body
Department: Transportation
Council District: 2 & 3
Public Hearing: N/A
Advertising Date/By: N/A
Contact 1 and Phone: Adam Fischer 336-373-2861
Contact 2 and Phone: Tyler Meyer 336-373-2254
PURPOSE:
A resolution is required to amend the municipal agreement with NCDOT for the Downtown Greenway Phase 2 project (EL-5101 DJ) to add additional Federal funds.
BACKGROUND:
EL-5101 DJ will construct a greenway sidepath and reconstruct sections of Murrow Boulevard and Fisher Avenue. The project also includes intersection improvements at Murrow Boulevard and Gate City Boulevard and modifications to the Murrow Boulevard and Summit Avenue Interchange. This project will complete a major portion of the Downtown Greenway while improving access to neighboring land uses, transit and other amenities. The City Council approved execution of the original funding agreement for design funding in July 2010. In January 2016 City Council authorized execution of an amendment providing 80% federal funding based on cost estimates. Based on the contracted cost for construction exceeding construction estimates, NCDOT has agreed to provide additional funding to the project at this time.
BUDGET IMPACT:
The budget for the project will increase as follows:
$507,737 Federal Funds (80%)
$126,934 2008 GDOT Bond Funds (20%)
$634,671
The addition of $507,737 in Federal funds will reduce the amount of City bond funds previously allocated to the project by an equal amount. Matching funds will come from 2008 bond fund account 471-4502-18.6401. A budget adjustment will be required to move funds into the appropriate account.
RECOMMENDATION / ACTION REQUESTED:
The Transportation Department recommends and requests approval of the attached resolution amending the agreement with NC Department of Transportation for Downtown Greenway Phase 2 Project EL-5101 DJ.