Title
Resolution Approving the Transfer of $217,458 from North King Street Phase 3 Bond Project to Buckroe Ave Reconstruction-Phase I Bond Project and $142,500 from North King Street Phase 2 Bond Project to Newmarket Creek Trail Bond Project
Purpose
PURPOSE/BACKGROUND:
The City is proposing to reconstruct Buckroe Avenue from First Street to Mallory Street as part of Capital Improvement Project No. 12-032, VDOT UPC 102988 and construct the Newmarket Creek Trail from Air Power Park to Armistead Avenue as part of Capital Improvement Project No. 14-003, VDOT UPC 102965. Bids for construction of both projects have been received and were greater than the amount programmed.
Discussion:
Improvements to Buckroe Avenue are being made to provide curb and gutter and sidewalk improvements consistent with the master plan for Buckroe. The Newmarket Creek Trail project will construct the segment of the Central Park trail from Mercury Boulevard to Armistead Avenue.
Additional VDOT Revenue Sharing funds have been identified from two other Revenue Sharing projects that came in under bid: King Street Phase 2 and King Street Phase 3. $217,458 will be transferred from North King Street Phase 3 Bond Project to the Buckroe Avenue Reconstruction-Phase I Bond Project and $142,500 be transferred from North King Street Phase 2 Bond Project to the Newmarket Creek Trail Bond Project in the Capital Projects Fund.
Staff believes the bids received are fair and reasonable and requests appropriation of the additional funds.
Impact:
Not Applicable
Recommendation:
Rec
Approve Resolution
Body
WHEREAS, in the 2015 bond issue, Council included $1,542,500 in the North King Street Phase 3 project, and in the 2013 bond issue, Council included $750,000 in the North King Street Phase 2 project ; and
WHEREAS, the construction cost of North King Street Phase 2 and Phase 3 projects came in under budget and the cost of Buckroe Ave Reconstruction-Phase I, and Newmarket Creek Trail projec...
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