Minutes 10/27/2020 - Laserfiche WebLink

Home Browse Search

October 27, 2020 Next Steps Following Council Action:  A plan for use of the CARES CDBG funds will be prepared in accordance with HUD guidance. Motion by Ms. Psimas, and seconded by Ms. Lucas-Burke, to adopt the following ordinance, and was adopted by the following vote: “ORDINANCE ACCEPTING CARES ACT CDBG FUNDS IN THE AMOUNT OF $426,191 AND APPROPRIATING SAID SUM IN THE FY 2021 COMMUNITY PLANNING AND DEVELOPMENT FUND BUDGET FOR USE IN PREVENTING, PREPARING FOR, AND RESPONDING TO COVID-19.” Ayes: Battle, Clark, Glover, Lucas-Burke, Moody, Psimas, Rowe Nays: None 20 - 253 - Adoption of an ordinance: (1) establishing a new project in the FY 2021 Public Utilities Capital Improvement Fund called the West Norfolk Road Water Upgrade Project; (2) transferring and appropriating $1,150,000 in appropriation authority from the Low Pressure Transmission Main Project in the FY 2021 Public Utilities Capital Improvement Fund Budget to the West Norfolk Water Upgrade Project; (3) appropriating $1,150,000 from the Fund Balance of the General Fund to the FY 2021 General Fund Budget; and (4) transferring and appropriating the said $1,150,000 from the FY 2021 General Fund Budget to the West Norfolk Road Water Upgrade Project. Background:  On October 13, 2020 Council requested staff (1) to establish a project in the Public Utilities Capital Improvement Fund for the purpose of improving water service to the West Norfolk Road area and (2) to fund the project in the amount of $2,000,000 plus a contingency, with half the money coming from the General Fund and half from the Public Utilities Capital Improvement Fund.  Staff has determined that the appropriate contingency is $300,000 and that the project can be funded through (1) transferring $1,150,000 from the Unassigned Fund Balance of the General Fund and (2) transferring $1,150,000 from the Low Pressure Transmission Main Project in the FY 2021 Public Utilities Capital Improvement Fund. Discussion:  The intent of the project is to improve aging water infrastructure to trigger further economic development in the West Norfolk area.  A briefing on the overall status of the public utility system is anticipated to be presented to City Council prior to the end of the calendar year. The system currently has $175,000,000 in outstanding debt, of which $30,000,000 is debt from a revenue bond issued in Fiscal Year 2020. Financial Impact:  A total of $2,300,000 will be reserved for the West Norfolk Road Water Upgrade Project. To fund the project, the unassigned fund balance of the General Fund will be reduced by $1,150,000 and the appropriation authority for the Low Pressure Transmission Main Project in the FY 2021 Public Utilities Capital Improvement Fund will be reduced by $1,150,000. Recommended Action:  Adoption of the Ordinance. Next Steps Following Council Action:  Finance will make the necessary budget adjustments.  Staff will commence planning activities for the West Norfolk Road Water Upgrade Project. Motion by Mr. Clark, and seconded by Mr. Battle, to adopt the following ordinance, and was adopted by the following vote: