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<br />S.3-A-/ <br /> <br />RgP()RT <br /> <br />To the Redevelopment Board <br />From the Executive Director <br /> <br />October 3,2005 <br /> <br />Subject <br />Approval of Additional Funding for Construction of the Courthouse Facade <br /> <br />Recommendation <br />Adopt a resolution amending the Redevelopment Agency's Capital Budget and <br />appropriate funding in the amount of $282,900 from the Working Capital Fund balance, <br />for completion of the Courthouse Façade project. <br /> <br />Background <br />A total of $5,695,910 in funding has been allocated for the Courthouse Façade project <br />since FY 2001/2002 for design, demolition, construction, and soft costs. Before the <br />demolition of the Broadway Annex, it was discovered that asbestos removal and utility <br />costs were going to be $125,000 higher than projected because of incomplete or <br />inadequate information in County documents relative to those two issues. Additional <br />inspection costs of $35,000 were added to the budget for specialized testing and <br />inspection of fiberglass reinforced plastic components and welding. Finally, staff feels it <br />is important to maintain a 5% contingency for the project. <br /> <br />In total, an additional $282,900 in funding is needed for the Courthouse Façade project. <br /> <br />Fiscal Impact <br />It is recommended that the additional project cost be funded from the Agency's Working <br />Capital Fund Balance. If the appropriation of a portion of that fund for the Streetscape <br />Project is approved by the Agency Board on September 26, an estimated balance of <br />$300,000 will remain and be available for the Courthouse Façade Renovation Project. <br />However, the balance in the fund is only an estimate. It is not final, nor has it been <br />audited. Should the final or audited number be less than what is needed for this <br />project, staff will identify another funding source, and return to the Agency Board with <br />y~ ~ndation for the fundin eded. <br /> <br /> <br /> <br />Susan Moeller U I atterson <br />Redevelopment, Housing ommunity Development <br />& Economic Development Director <br />Manager <br /> <br /> <br /> <br />',/ t) <br />/ ! ~ <br /> <br />1:\2005 STAFF REPORTS, AGREEMENTS\10-2005\ <br />Additional Funding for Courthouse Façade <br />