AGENDA #4j

MEMORANDUM

TO:                  Mayor and Town Council

FROM:            W. Calvin Horton, Town Manager

SUBJECT:       Budget Amendment for Certain Parks and Recreation Capital Improvements Projects

DATE:             September 27, 2004

 

 

The attached budget ordinance amendment would provide a budget for two capital improvements items approved by the Town Council on June 14, 2004, as a part of the Town’s Capital Program.

 

BACKGROUND AND DISCUSSION

 

As a part of the Capital Program that the Council approved on June 14, 2004, two projects were approved in the Multi-Year Capital Project Fund that have available revenue sources, but had not been previously budgeted.  The Carolina Sport Art Building was originally expected to receive $14,000 from rent revenue.  While the monthly rental amount remains the same, a change in renters will result in a lowered current year revenue projection of $11,500, and the attached budget ordinance reflects the expected receipts.  Maintenance on the Carolina Sport Art Building site including removal of derelict outbuildings, drainage improvements and sidewalk reconstruction is budgeted in an amount equal to the rental receipts.

 

In July of 2001, the Town received $10,000 from the developer of Parkside II as a contribution for the development of a trail on the property.  The Council approved using those funds for improvements to the Upper Booker Creek Trail project within Parkside II land.

 

RECOMMENDATION

 

That the Council enact the attached budget ordinance amendment for Upper Booker Creek Trail and the Carolina Sports Buildings and Grounds.

 

ATTACHMENT

 

  1. Memorandum of June 14, 2004 (p. 3).

AN ORDINANCE TO AMEND THE CAPITAL PROJECT ORDINANCE FOR VARIOUS CAPITAL PROJECTS (2004-09-27/O-2)

 

BE IT ORDAINED by the Council of the Town of Chapel Hill that, pursuant to Section 13.2 of Chapter 159 of the General Statutes of North Carolina, the capital projects ordinance for various capital projects funded from a variety of sources is hereby amended as follows:

 

SECTION I

 

The capital projects as authorized by the Town Council includes various capital projects funded from grants, the Capital improvements Program funds, and other miscellaneous sources of revenue for a variety of projects extending beyond one fiscal year.

 

SECTION II

 

The Manager of the Town of Chapel Hill is hereby directed to proceed with the implementation of the project within the terms of grant agreements executed with the Federal Transit Administration and the funds appropriated herein.

 

SECTION III

 

SECTION IV

 

The Manager is directed to report annually on the financial status of the project in an information section to be included in the Annual Budget, and shall keep the Council informed of any unusual circumstances.

 

Copies of this project ordinance shall be entered into the Minutes of the Council and copies shall be filed within 5 days of adoption with the Manager, Finance Director and Town Clerk.

 

This the 27th day of September, 2004.