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4-�8 3 <br /> costs remain unknown, but are anticipated to be higher. <br /> Fiscal Impact . <br /> Funds have not been budgeted for this project. Staff will request a budget appropriation change to <br /> fund this project in the amount of $680,792 plus $50,000 contingency for a total project of $730,792. <br /> Funds are available in the General Fund, Unreserved Fund Balance for this project. As of June 30, <br /> 2000 the general fund ending balance was $5.2 million greater than the maximum targeted reserve <br /> of 20% of estimated revenues. The Council has indicated that it may lend $3.2 million of this <br /> amount to a developer to construct a child care facility in Redwood Shores. Should the Council <br /> proceed with the loan _for the childcare center and elect to fund this project approximately $1.2 <br /> million will then be available for other one-time-only uses. . <br /> Staff understands that the Fifth Avenue Flood Control project is a high priority with Council and <br /> that projects such as the Energy Saving project use funds that otherwise might be available for <br /> the flood control project. In an effort to enable the Council to continue to fund projects such as <br /> the Energy Saving project, staff is investigating other methods of financing the flood control <br /> project that include, but are not limited to, using the revenue stream generated by the repayment <br /> of the childcare facility loan to secure bonds, or other long-term financing, that would be utilized <br /> to provide funding for the Fifth Avenue Flood Control project. <br /> � � , <br /> % <br /> c.. <br /> a H er Corinne Centeno Ed Everett <br /> peri tendent Director City Manager <br /> _ _ . . _ .., __ __ _..�__ . _.... t _ . <br />