HomeMy WebLinkAbout5A5 Budget Request (Olive Street Pavement Reconstruction)
Redevelopment Commission Agenda Item
DATE: January 17, 2020
FROM: Kara Boyles, City Engineer
SUBJECT: Budget Request – Olive Street Pavement Reconstruction
Which TIF? (circle one) River West; River East; South Side; Douglas Road; West Washington
PURPOSE OF REQUEST: Obligate budget for federal funding match for the construction of the
improvements in the amount of $1.5M.
Specifics: The Olive Street Pavement Reconstruction project is an Indiana Department of
Transportation Local Public Agency (LPA) municipal project that consists of the
pavement reconstruction of Olive Street from Prairie Avenue to the railroad tracks
south of Tucker Drive. This project, which was initiated in 2014, was awarded
federal funds for up to 80% of the project costs. This project will be the final of
three LPA projects let by the City in the State Fiscal Year 2020. Due to estimated
increases in construction costs, it is projected that the funding match required will
be approximately 35%. The current total project estimate for construction is
approximately $4.3M. Please consider this request for $1.5M to cover the
remaining project costs from the RWDA TIF.
INTERNAL USE ONLY: Project Code: _______________________________________________;
Total Amount new/change (inc/dec) in budget: _$_________; Break down:
Costs: Engineering Amt: ______________________; Other Prof Serv Amt_________________;
Acquisition of Land/Bldg (circle one) Amt: ___________; Street Const Amt ________________;
Building Imp Amt_________; Sewers Amt_________; Other (specify) Amt: ________________
___________________________________________. Going to BPW for Contracting? Y/N
Is this item ready to encumber now? ____ Existing PO#________ Inc/Dec $_____________