Title:
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Approve and authorize the Chairman to execute a Resolution implementing Budget Amendment Request (BAR) #23-040 in the 2014 Infrastructure Sales Tax Fund to transfer $946,748 from reserves for additional funding of the Crane Strand Culvert Replacement Project. (Timothy Jecks, Deputy CFO / Budget Division Manager) - Requesting Dept: Public Works
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Division:
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Resource Management - Budget
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Authorized By:
Lorie Bailey Brown, CFO/Resource Management Director
Contact/Phone Number:
Sara Carrick, Financial Administrator - 407-665-7180
Background:
The Crane Strand Culvert Replacement Project involves the replacement of an existing culvert and drainage improvements along the canal. Improvements include replacing metal pipe with a reinforced concrete pipe, removing and replacing concrete headwall, inlets and regrading drainage swale above the new drainage conveyance system to capture runoff from homes along Bougainvillea Drive and Seagrape Drive.
At the 3/28/2023 BCC meeting, the Board awarded the contract to the lowest bidder, Gregori Construction for a total cost of $2,049,503. Currently, this project has $1,307,707 in available funds for construction. The attached BAR is requesting to add $946,748 from Infrastructure Sales Tax Fund reserves to cover this budget gap. This also includes a contingency of $204,951. The cost table is attached to summarize this amendment. Reserves in the 2014 Infrastructure Sales Tax fund are currently budgeted at $9.2M.
recommendation
Staff Recommendation:
Staff recommends that the Board approve and authorize the Chairman to execute a Resolution implementing Budget Amendment Request (BAR) #23-040 in the 2014 Infrastructure Sales Tax Fund to transfer $946,748 from reserves for additional funding of the Crane Strand Culvert Replacement Project.