TITLE
The Mayor and City Council shall discuss and take action to approve certain City Road Improvements which were included in this year's CIP Program. Discussion and Action.
AGENDA ITEM DESCRIPTION
The City Council previously authorized certain road improvements via this year’s CIP program (see above attachment) with anticipated funding from the American Rescue Act . As you are aware, our funding was cut resulting in a loss of approximately $6.5 million due to Treasury Department applying a CDBG formula to the City. These projects remain crucial to the public safety and to our ability to grow our community economically. Further, to delay these projects may hinder new development, increase public safety concerns and ultimately add cost to construct.
A preliminary (pre-audit) Maricopa’s FY21 (2020-201) financials clearly demonstrates that Revenues will exceed Expenditures by $11.8 million. Our expectations at the beginning of the year was between $2 million and $3 million. Therefore, as previously addressed, this amendment is presented to the City Council for approval to change the funding for these projects as follows:
· Project Funding Request Previous Funding Source Proposed New Funding Source: Change in Scope:
Garvey Avenue - Project No. 38104 $1,532,020 American Rescue Act General Fund N/A
Edwards Extension - Project No. 38106 $ 662,564 American Rescue Act General Fund ADOT Disallowed
Smith-Enke & SR 347 Interchange $2,358,965 ...
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