From
Kathleen C. Mercer
Title
Ordinance amending the FY 2019/2020 Capital Improvement Projects Budget; Authorization to appropriate $38,550,000 for EPIC Central Projects
Presenter
Kathleen C. Mercer, Director of Budget/Purchasing, and Becky Brooks, CFO
Recommended Action
Approve
Analysis
The City of Grand Prairie, City Council approved the intent to sale Series 2019A Certificates of Obligation on June 07, 2019 19-9057. The bonds have been received to the City and distributed to the EPIC Central Capital Projects Fund.
This Council action will appropriate such funds to the following activities:
EPIC CENTRAL PROJECT ROLL UP 38,550,000
02001 EPICCLPG Parking 6,800,000
02002 EPICCLPB Pickleball 8,000,000
02003 EPICCLPD Project Design 4,600,000
02004 EPICCLST Streets 3,000,000
02005 EPICCLLA Landscaping and Amenities 5,000,000
02006 EPICCLLS Light Show 3,600,000
02007 EPICCLCO Contingency 3,000,000
02008 EPICCLPS Pad Sites 4,550,000
All of the above activities will roll up to one major project, and will be reported to the City Manager's Office along with the Finance and Government Committee members on a monthly basis through the Capital Project Budget Report (CPBR) .
An additional amount of appropriations $7,000,000 for the Conference Center is available in the TIF Fund 3601. Because it is in the TIF Fund it does require an ordinance in order to appropriate the money.
Financial Consideration
Funding from the bonds received, in the amount of $38,550,000, is available by approving an ordinance transferring and appropriating from the unobligated fund balance the EPIC Central Capital Projects Fund (360193):
EPIC CENTRAL PROJECT ROLL UP 38,550,000
02001 EPICCLPG Parking 6,800,000
02002 EPICCLPB Pickleball 8,000,000
02003 EPICCLPD Project Design 4,600,000
02004 EPICCLST Streets 3,000,000
02005 EPICCLLA Landscaping and Amenities 5,000,000
02006 EPICCLLS Light Show 3,600,000
02007 ...
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