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05-1175Council File # Green Sheet # RESOLUTION CITY OF ST. PAUL, MINNESOTA Presented By: Referred To: Committee: 1 WIIEREAS, the CouncIl of the City of Saint Paul approved C. F. 03-614 on June 25, 2003, wlnch established a budget 2 for the Meritex Lot and Carlo Building acquisirion proj ect; and a WFIEREAS, the current anricipated acquisirion costs will exceed the original budget estimated two years ago; and 6 WHEREAS, the original financing budget included loan financing (assumed to be a Port Authoriry bond or note), 7 wluch is not the most cost-effective financing for the City and was ultimately not pursued; and 9 WHEREAS, the Griffin Building Construction Account has a remaining balance and interest eamings that can finance a 10 portion of the additional Meritex acquisition; and ii 12 WHEREAS, the Trout Brook Corridor Acquisition project was completed under budget and a financing balance remains; and 13 14 WHEREAS, the Council of the City of Saint Paul approved in the 2004 and 2005 Capital Improvement Budgets a total 11 of $1 million for the Sandy Lake Soccer Fields project; and 16 t7 WHEREAS, the Long-Range Capital Improvement Budget Committee did not recommend funding the additional $3.9 is million required to complete the Sandy Lake Soccer Fields project in 2006 or 2007; and 19 2o WHEREAS, the 2005 C1B Conringency Account has funds to finance project overruns and unforeseen needs; so 21 22 THEREFORE BE IT RESOLVED, by the Council of the City of Saint Paul, upon recommendarion of the Mayor and 23 advice of the Long-Range Capital Improvement Budget Committee, that $2,721,217 is available for appropriation in the 24 1999, 2000, 2001, 2003, 2004 and 2005 Capital Improvement Budgets, as heretofore adopted and amended by this 25 Council, be hereby further amended in the Capital Ixnprovement Budgets, in the following particulars: 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 41F 45 46 47 Meritex Lot / Car-Lo Building Financing CO3-4T020 Contributions & Donations - Outside (6905) Transfer from Special Revenue Fund (7305) Rentals-N.O.C. (5499) Transfer-In Intrafund (7499) Transfer from C.I.B. 1994 (7314) Transfer from C.I.B. 1995 (7315) Transfer frum C.I.B. 1998 (7318) Transfer from C.I.B. 1999 (7319) Transfer from C.I.B. 2001 (7321) Tzansfer from C.I.B. 2002 (7322) Transfer from C.I.B. 2003 (7323) Transfer from C.I.B. 2005 (7325) Spending CO3-4T020 Transfer to Special Revenue Fund (0558) AcquisirionofLand (0881) Curreat Bu et 350,000.00 275,000.00 0.00 0.00 125,539.58 162,020.06 42,363.00 6,40434 6Q932.00 352,862.14 274,378.88 Chan¢e Amended Budeet (35Q000.00) 200,000.00 31,789.00 139,993.00 0.00 599,435.00 1,650,000.00 621,217.00 os-�t7s ?0.�`-1 O �l � Date /' 0.00 475,000.00 31,789.00 139,993.00 125,539.58 162,020.06 42,863.00 6,40434 60,932.00 352,86214 274,378.88 599,435.00 2,271,217.00 0.00 I 89,428.00 189,428.00 ],650,000.00 431,789.00 2,081,789.00 1,650,000.00 621,217.00 2,271,217.00 Council File # Green Sheet # Current Budeet 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 �7 78 79 30 81 82 83 84 2005 CIB Contingency Financing COS-OT110 Transfer from C.I.B. 2005 (7325) Spending COS-0T110 Council Contingency (0548) 2005 Sandy Lake Soccer Field Financing COS-3T108 Transfer from C.I.B. 2005 (7325) Spending COS-3T108 Improvetnents of Land (0882) Trout Brook Corridor Acquisition Financing C993E015 Other State Grants (3490) State Highway Dir Grants (3499) Sale of Capital Assets (42t5) Rentals-N.O.C. (5499) County Share of Cost (6907) Transfer from C.I.B. priox to 199� (7310) Transfer from C.I.B. 1998 (7318) Transfer from C.I.B. 1999 (7319) Transfer from C.I.B. 20U0 (732�) n�sf� snm c.t.B. zom ��szi> Transfer from C.I.B. 2002 (7322) Spending C99-3E015 Transfer-outlnfrafund (0799) Aequis�tionofLand (0881) Cha°¢e D s- ir�s Amended Bud¢et 426,000.00 (99,435.00) 326,565.00 426,000.00 (99,435.00) 326,565.00 426,000.00 (99,435.00) 326,565.00 426,000.00 (99,435.00) 326,565.00 500,000.00 (500,000.00) 0.00 soo,000.00 (soo,000.00> o.00 500,000.00 (500,000.00) 0.00 500,000.00 (500,000.00) Q.00 1,40Q000.00 1,800,000.00 109,993.30 30,000.00 147,000.00 3,4b3.41 22,207.22 19,153.10 48,222.89 31,951.16 1,651.92 3,613,643.00 0.00 3,613,643.00 3,613,643.00 Requested by: � �� 139,993.00 (139,993.00) 0.00 1,400,000.00 7,800,000.00 109,99330 30,000.00 147,000.00 3,463.41 22,207.22 19,153.10 48,222.84 31,951.16 1,651.92 3,613,643.00 139,993.00 3,473,650.00 3,613,643.00 Office of Financial Services Bud et ection By: � Appr e d by OF �= tor: B {.�ece.ti•ber ar,aotty Form Appr d by City rney: Adoprion Ce '� ied by Council Secretary: By: / / � ' SDiz. � By �` �� 7 3 Appxoved by Mayor fox Subm'ssion to Council: Appro� Mayor: Date ��.�/�- � �j�� � , _ � � q „ � Adopted by Councih Date os- ��7s � Green Sheet Green Sheet Green Sheet Green Sheet Green Sheet Green Sheet � DepartrnenNofficeMouncil: Date inifiated: � Fs -F����� ,�E� Green Sheet NO: 3029091 Confact Person & Pbone: -, Matt Smith 266-8796 Assign Must Be on Council Agenda by (Date): Number For Routing Order ContradType: AR-RESOLU710N W/$ iRANSACTION 7otal # of Signalure Pages _(Clfp All Locations for Signature) ueoaronent �ent �o rerson m�vawate 0 mancial5ervica 1 nancialServicec DeoaihnentDirector 1 2 ancial Services �DftSce FSnancial Servi 3 'tv Attomev f 4 or's Otfice Ma or/ASSistant 5 oonN Cti Council 6 ' Cle k erk Transferring funds from the Griffin BuYlding Construcfion, Trout Brook Corridor Acquisirion, and Sandy Lake Soccer Fields Projects to cover the cost overrun of the Merite�Cazlo Project. itlations: Approe2 (A) or Reject Planning Commission CIB Committee G1NI Senice Commission rersonai service convacu 1. Has this persoNfirtn e�er worked under a coMract for this department? Yes No 2. Has this persoNfirm e�er been a ciry employee? Yes No 3. Does this persoNfirm p�sess a skill rwt nortnally possessed by any currant city employee? Yes No Explain all yes answers on separete sheet and attach to green sheet Initiating Problem, lssues, Opportunity (Who, What, When, Where, Why): The Meritex LoUCarlo Building Acquisition Project costs will exceed the original budget. The Griffm Building Construction, Tro Brook Corridor Acquisi6on and Sandy Lake Soccet Fields Projects have additional funds. These funds will be transfened to cover the cost ovemui of the Merite�c/Carlo Project. AdVantage5 If ApproVed: Funding will be available for the Meritex LoUCazlo Building Acquisirion Project. Disadvantages If Approved: None. Disadvantages If NotApproved: Funding will not be available for the Meritex LoUCazlo Building Acquisition Project. iwnounior $3�613,64$ Transaction: Funding5ource: VBriouS Financial Information: (Explain) CostlRevenue Budgeted: Activity Number. December 15, 2005 1:38 PM Page 1