HomeMy WebLinkAbout2003 05 12 Consent F TLBD Improvement Account Fund Balance
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COMMISSION AGENDA
ITEM F
CONSENT X
INFORMATIONAL
PUBLIC HEARING
REGULAR
May 12, 2003
Meeting
MGR;?Vjlf/DEPT ;/Y
Authorization
REQUEST: Public Works Department Requesting the City Commission Approve the
Transfer of the Remaining Funds from the TLBD Improvement Account
Fund Balance to the Construction Account to complete the Construction of
the minor entranceways. '
PURPOSE: The purpose of this Board item is to request the City Commission approve a
supplemental appropriation of the remaining capital monies of approximately
$89,000 from the fund balance of the TLBD Improvement Account to continue
the capital construction project.
CONSIDERA nONS:
The City Commission authorized on December 9,2002 the construction closeout
of the Cathcart Construction Company contract for that portion of the TLBD
improvements. Additional work is ready to be performed that includes the landscaping,
signage and irrigation for the three minor entranceways on Dyson Drive, Howell Creek
Drive, and Deer Run. The FY 2002/2003 budget anticipated the project being closed out
in FY 2002 which did not occur. This resulted in the carryover funds creating a larger
fund balance and less construction funds. The current estimated fund balance is $89,300
as shown in Attachment NO.1.
SRI has completed the design for the minor entranceways and solicited quotes for
the work. The TLBD Advisory Committee has approved the work to be performed. The
total construction cost for the landscaping, irrigation and sign age at the three minor
entranceways is projected to be $50,000. Design, construction adrillnistration and the
creation of record drawings for the overall project will add another $5,000 to the cost.
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Consent Agenda Item F
May 12, 2003
Page 2
FUNDING:
No new funds are required. The supplemental appropriation of the remaining
capital funds estimated at $89,300 from fund balance to the construction account (308-
65000) will allow the issuance of purchase orders to complete the minor entranceways.
Funds would be expended from the TLBD Improvement Fund over the next 90 days.
RECOMMENDATION:
It is recommended that the City Commission approve the supplemental
appropriation of the remaining monies in the fund balance of the TLBD
Improvement Fund (308) estimated at $89,300 to the construction account (308-
65000) for the completion ofthe TLBD construction improvements.
IMPLEMENTA nON:
The funds will be reallocated within five business days.
ATTACHMENTS:
1. TLBD Project Budget
COMMISSION ACTION:
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Attachment No.1
TLBD PROJECT BUDGET
REVENUES
Prepayments and Assessments $318,598.00
One Cent Sales Tax (Tuskawilla Inlets) $11,963.39
Interest Income $69,912.68
Bond Proceeds $2,240,922.00
TOTAL REVENUES $2,641,396.07
EXPENSES
Pre-Construction Cost
Transfer to Debt Service $46,664.04
Underwriters Discount $25,842.95
Cost of Issuance $76,897.96
Legal Services $152,000.00
Design Services $184,000.00
Planning and Administrative Services $16,000.00
$501,404.95
Available for Construction $2,139,991.12
Construction Costs
Cathcart Construction Company Contract $1,977,257.64
Base Bid $1,681,444.89
Alternative #4 - Vistawilla Drive Wall $8,700.00
Alternative #5 - Trotwood Boulevard Wall $17,000.00
Standstill Agreement Cost $54,059.58
Change Order #1 $53,020.42
Change Order #2 $51 275.64
Change Order #3 $37,558.99
Change Order #4 - Alternate Entryways plus CPI $47,140.83
Change Order #5 $27,057.29
Construction Administration $43,900.00
SRI $31,500.00
Graham Landscape Consultants $12,400.00
Easement Acquisitions/Other Work $29,510.00
Surveying/Recordation Fees $9,100.00
Trotwood Wall Reimbursement - Church $14,110.00
Tuscawilla HOA Predesign Reimbursement $1,000.00
Vistawilla Brick Wall $2,800.00
Marcite Fountains $2,500.00
CONSTRUCTION EXPENSES $2,050,667.64
PROJECTED REMAINING CAPITAL FUNDS $89,323.48