Title
Ordinance in the Amount of $260,127 Increasing the Budget for Amended Agreement with NC Department of Transportation for EB-5518 Latham Park Greenway
Body
Council Priority: Maintain Infrastructure and Provide Sustainable Growth Opportunities
Department: Transportation
Council District: 2 & 3
Public Hearing: N/A
Advertising Date/By: N/A
Contact 1 and Phone: Hanna Cockburn, 604-9243
Contact 2 and Phone: Tyler Meyer, 373-2254
PURPOSE:
An ordinance needs to be approved to increase the budget for an amended agreement with NCDOT for EB-5518 Latham Park Greenway.
BACKGROUND:
The City is currently in the process of reconciling costs and funding amounts on EB-5518, a recently constructed greenway project along Hill Street from Battleground Avenue to North Mendenhall Street. NCDOT has agreed to provide additional funding to support eligible construction costs per City request. The amended agreement provides for NCDOT to reimburse the City an additional $208,102 with the City responsible for the required additional local match of $52,025. After this agreement is executed, the final total project funding amount will be $788,909 for design, right-of-way and construction.
BUDGET IMPACT:
Funding for this project will be increased as follows:
$208,102 (80%) federal funds
$ 52,025 (20%) local matching funds
$260,127
Funding for the local match will come from Transportation Bond Fund account 471-4502-15.6401.
RECOMMENDATION / ACTION REQUESTED:
The Transportation Department recommends and requests approval of the attached ordinance increasing the budget for an amended agreement with NCDOT for EB-5518 Latham Park Greenway.