Title
Resolution to Transfer Bond Funds of $166,422 from the completed Factory Point Restoration Project and from the Shoreline Management Study Project to the Gosnold's Hope Park Maintenance Dredging Project.
Purpose
PURPOSE/BACKGROUND:
The channel downstream of the public boat ramp at Gosnold's Hope Park requires ongoing dredging to maintain the appropriate width and depth. City Council previously approved funding in the amount of $305,000 in FY 2018 for this project. After design and permitting, there are not enough funds remaining to complete the maintenance dredging at Gosnold's Hope Park.
City staff has identified available bond funds from the following completed projects: Factory Point Restoration Project in the amount of $165,579 and the Shoreline Management Study Project in the amount of $843. Hampton City Charter Sec. 6.12 and Hampton City Code Sec. 2-137 require that the City Council approve the transfer of unencumbered appropriations from one department to another department, as well as any transfer of bond proceeds. Pursuant to those provisions, staff requests City Council approve the transfer of these funds to the Gosnold's Hope Park Maintenance Dredge Project (“Project”).
Discussion:
See Purpose/Background Above.
Impact:
Net Impact of $166,422 for the Gosnold's Hope Park Maintenance Dredging Project.
Recommendation:
Approve.
Body
WHEREAS, the channel downstream of the public boat ramp at Gosnold's Hope Park requires ongoing dredging to maintain the appropriate width and depth;
WHEREAS, City Council has previously approved the sum of $305,000 in the FY 2018 Capital Improvement Plan for the Gosnold's Hope Park Maintenance Dredge Project (“Project”);
WHEREAS, after design and permitting expenditures, there were not enough funds remaining to complete the Project;
WHEREAS, City staff has identified available bond funds from the completed Fac...
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