AGENDA #4i

 

MEMORANDUM

 

TO:                  Mayor and Town Council

 

FROM:            W. Calvin Horton, Town Manager

 

SUBJECT:       Budget Amendment Allocating Funds for Construction of Infrastructure Improvements on Airport Road and East Franklin Street

 

DATE:             October 27, 2003

 

 

Enactment of the attached ordinance would amend the current Capital Improvements Fund budget to account for a State allocation of reimbursement funds for construction of infrastructure improvement projects on Airport Road and East Franklin Street, in accordance with municipal agreements between the Town and the State.

 

BACKGROUND AND DISCUSSION

 

In November 2002, the Council adopted a resolution authorizing the Town Manager to execute two municipal agreements accepting State funds for street and drainage improvements on Airport Road and on East Franklin Street in Chapel Hill.

 

The State has agreed to make a total of $100,000 available for the following improvements:

 

·        Construction of a curb extension (bulb-out) at the intersection of Stevens Street and Airport Road;

·        Reconstruction of the Park Place intersection at East Franklin Street;

·        Reconstruction of the Battle Lane intersection at East Franklin Street.

 

Please see the attached location map (Attachment 1).

 

The Town is not required to provide matching funds to receive this money from the State.  However, the funds are made available on a reimbursement basis, so the Town must initially pay for the construction and then file for reimbursement of the documented costs.

 

The attached budget amendment would amend the Capital Improvements Fund budget to reflect receipt and expenditure of these funds in the current budget year.

 

RECOMMENDATION

 

That the Council enact the attached budget amendment ordinance to account for a State reimbursement allocation of $100,000 for the construction of street and drainage improvements on Airport Road and East Franklin Street.

 

ATTACHMENTS

 

1.                  Map (p. 3).

 

 

AN ORDINANCE TO AMEND “THE ORDINANCE CONCERNING APPROPRIATIONS AND THE RAISING OF REVENUE FOR THE FISCAL YEAR BEGINNING JULY 1, 2003 (2003-10-27/O-4)

 

BE IT ORDAINED by the Council of the Town of Chapel Hill that the Budget Ordinance entitled “An Ordinance Concerning Appropriations and the Raising of Revenue for the Fiscal Year Beginning July 1, 2003” as duly adopted on June 9, 2003 be and the same is hereby amended as follows:

 

ARTICLE I

 

                                                  Current                                                                       Revised

APPROPRIATIONS                  Budget                Increase           Decrease                  Budget

 

CAPITAL

IMPROVEMENTS FUND   1,929,283                100,000                                      2,029,283

 

ARTICLE II

 

                                                  Current                                                                       Revised

REVENUES                               Budget                Increase           Decrease                  Budget

 

CAPITAL

IMPROVEMENTS FUND   1,929,283                100,000                                      2,029,283

                                                             

 

This the 27th day of October, 2003.