HomeMy WebLinkAbout08004ORDINANCE NO. 8004
AN ORDINANCE BUDGETING, APPROPRIATING AND
TRANSFERRING FUNDS IN THE AMOUNT OF $890,183 FROM THE
GENERAL FUND RESERVES INTO PROJECT NO. DT0802 — FOR
USE AS THE REMAINING MATCH FOR A FEDERAL EARMARK FOR
THE DILLON DRIVE / I -25 INTERCHANGE STUDY
BE IT ORDAINED BY THE CITY COUNCIL OF PUEBLO, that:
SECTION 1.
Funds in the amount of $890,183 shall be transferred from the General Fund Reserves
into Project No. DT0802 — Dillon Drive / 1 -25 Interchange Study.
SECTION 2.
Said funds are hereby budgeted and appropriated for said project.
SECTION 3.
This Ordinance shall become effective immediately upon final passage and approval.
A77ESTED SY:
CITY CLERK
INTRODUCED: April 27, 2009
BY: Judy Weaver
Councilperson
APPR t)' 40 �-
PRESIDENTof City Council
PASSED AND APPROVED: May 11, 2009
AS AMENDED May 11, 2009
L t >
Background Paper for Proposed
ORDINANCE
DATE: APRIL 27, 2009
DEPARTMENT: PUBLIC WORKS
INTERIM DIRECTOR — MICKEY BEYER, P.E.
TITLE
AGENDA ITEM #19
AN ORDINANCE BUDGETING, APPROPRIATING & TRANSFERRING FUNDS IN THE
AMOUNT OF $890,183 FROM THE GENERAL FUND RESERVES INTO PROJECT NO.
DT0802 FOR USE AS THE REMAINING MATCH FOR A FEDERAL EARMARK FOR THE
DILLON DRIVE / 1 -25 INTERCHANGE STUDY AND PHASE I CONSTRUCTION
ISSUE
Should the City Council budget, appropriate, and transfer funds in the amount of $890,183 from
the General Fund Reserves into Project No. DT0802 - Dillon Drive / 1 -25 Interchange Study and
Phase I construction.
RECOMMENDATION
Approval of this Resolution.
BACKGROUND
Currently Short Elliot Hendrickson, Inc. (SEH) is under contract to perform those studies
required by the Colorado Department of Transportation (CDOT) and the Federal Highway
Administration (FHWA) for a possible interchange near the present terminus of Dillon Drive
(west of 1 -25) and 1 -25. Upon completion of the study and fulfilling all approvals from CDOT and
FHWA, the City intends to construction Phase I improvements of the Interstate interchange. It is
imperative that the City secure the earmark due to the expiration date being September 2009.
FINANCIAL IMPACT
The City received a $5.427 million grant from the Federal Highway Administration for the study
and design of an interchange and to construct that portion of the interchange with the remaining
funds. The grant has a 20% local agency (City) match requirement. A previous Council action
approved the acceptance of said grant of up to $800,000 and transferred $200,000 from the
City's Reserve Account Fund into the project account (DT0802). The City has submitted an
application to the Department of Local Affairs for a grant to be used for this project in the
amount of $400,000. If approved, the actual amount of the grant received will be deposited into
the General Reserve Fund to replenish the monies expended.
This Ordinance will authorize the transfer of $890,183 from the General Fund Reserves into
Project No. DT0802, and accept the remaining $3,560,732 of said grant and authorize a
modification to the Contract with CDOT.