AGENDA #4e
MEMORANDUM
TO: Mayor and Town Council
FROM: W. Calvin Horton, Town Manager
SUBJECT: Budget Amendment for Highland Woods Road Realignment Project
DATE: January 10, 2005
Enactment of the attached budget ordinance would increase the Grants Fund for FY 2004-05 by $90,000 for the realignment of Highland Woods Road at its intersection with Old Mason Farm Road.
BACKGROUND AND DISCUSSION
At its December 6, 2004 meeting, the Council approved a resolution authorizing the Town Manager to execute a Municipal Agreement with the North Carolina Department of Transportation accepting State funds for the realignment of a segment of Highland Woods Road north of Old Mason Farm Road.
We believe that the $90,000 in State funding will be sufficient to complete the proposed Highland Woods Road Realignment Project, and we do not expect the Town to incur any direct costs associated with this project. If bids for the construction of this project exceeded $90,000, we would not award the contract unless additional State funds were made available.
Enactment of the attached budget amendment would increase the Grants Fund for FY 2004-05 by $90,000 to cover the cost of realignment of Highland Woods Road Project. Once the work is completed, the State would reimburse the Town for the $90,000 as its agreed-upon share of the contract.
RECOMMENDATION
We recommend that the Council enact the attached ordinance that would increase the Grants Fund for FY 2004-05 by $90,000 to cover the cost of realignment of Highland Woods Road.
AN ORDINANCE TO AMEND “THE ORDINANCE CONCERNING APPROPRIATIONS AND THE RAISING OF REVENUE FOR THE FISCAL YEAR BEGINNING JULY 1, 2004 (2005-01-10/O-2)
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, 2004” as duly adopted on June 14, 2004, be and the same is hereby amended as follows:
This the 10th day of January, 2005.