TITLE
The Mayor and City Council shall discuss and possibly take action on approving a budgetary transfer in an amount not to exceed $102,000 from the General Fund, General Government, Contingency (10010000-99000) to the General Fund, General Government, Professional and Occupational (10010000-53320). This will fund the first reimbursement per the North Santa Cruz Wash improvements development agreement. Discussion and Action.
AGENDA ITEM DESCRIPTION
On December 1, 2014, the Mayor and City Council approved a resolution approving and adopting North Santa Cruz Wash improvements development agreement (Agreement). Per the Agreement, the City of Maricopa will reimburse the FPA Parties $709,079.21 over a three (3) year period for the previously prepared Preliminary Plans and Specifications and Basis of Design. The first reimbursement will be funded through contingency. The reimbursement for year 2 has been approved in the Fiscal Year 2015-16 tentative budget and the reimbursement for year 3 will be budgeted for Fiscal Year 2016-17.
This item will be presented by William Fay, Public Works Director and City Engineer.
STAFF RECOMMENDATION
Staff recommends that the Mayor and City Council approve a budgetary transfer in an amount not to exceed $102,000 from the General Fund, General Government, Contingency (10010000-99000) to the General Fund, General Government, Professional and Occupational (10010000-53320) to fund the first installment of the North Santa Cruz Wash Development Agreement.