Title
Ordinance in the Amount of $1,897,879 Establishing the Budget for U-5532 F: Holden Road Sidewalk Improvements Project
Body
Department: Transportation
Council District: All
Public Hearing: N/A
Advertising Date/By: N/A
Contact 1 and Phone: Adam Fischer 373-2861
Contact 2 and Phone: Tyler Meyer 373-2254
PURPOSE:
A budget ordinance needs to be approved to establish the budget for U-5532 F: Holden Road Sidewalk Improvements Project.
BACKGROUND:
Project U-5532 F will construct sidewalks on 1) Holden Road from Walker Avenue to Spring Garden Street; 2) Holden Road from Darden Road to Vandalia Road; 3) Holden Road from Madison Avenue to Walker Avenue; 4) Rankin Road from Summit Avenue to Martin Avenue; (5) Martin Avenue from Rankin Road to Springmont Drive; and 5) Spring Garden Street from W. Market Street to Pomona Drive. The construction phase of U-5532 F is 80% funded by federal funds allocated through the Transportation Advisory Committee in cooperation with the NCDOT and 20% funded by transportation bond funds provided by the City of Greensboro.
This Agreement defines the cost, and construction responsibilities of the City and the NCDOT, including the terms to which the City must comply in order to receive reimbursements.
BUDGET IMPACT:
Funding for this project will be budgeted in Street and Sidewalk Capital Project Fund account 401-4575-01 as follows:
$1,518,303 Federal Funds (80%)
$379,576 2008 Bond Funds (20%)
1,897,879
A budget adjustment is required to move matching funds to the correct account.
RECOMMENDATION / ACTION REQUESTED:
Transportation staff recommends and requests City Council approve the attached budget ordinance establishing the budget for U-5532 F: Holden Road Sidewalk Improvements Project.