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 American Rescue Act General Fund N/A
SR 238 Loma Road to Costa Brava $ 802,529 American Rescue Act General Fund N/A
SR 347 & Lakeview Right Turn Lane $ 863, 065 American Rescue Act General Fund N/A
Total $6,222,143
• Personnel Funding: $ 335,936 N/A General Fund Add Development Staff
• Total Funding Requested $6,558,079
The current budget as approved by the City Council has the budget capacity needed for these projects/staffing request. This action will not require a change to the budget. This action simply seeks to change the funding source for the above listed CIP projects and further allocates additional funding in support of new staff in Development Services.
STAFF RECOMMENDATION
Staff recommends approval to change the funding for these projects.