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<br />12/1212006
<br />
<br />ORIGINAL
<br />
<br />RESOLUTION NO. 14753
<br />
<br />RESOLUTION AMENDING THE REDWOOD CITY BUDGET FOR FISCAL YEAR
<br />2006-2007 BY APPROPRIATING $2,564,000 FROM THE GENERAL FUND
<br />RESERVE FOR THE REDWOOD SHORES COMMUNITY LIBRARY PROJECT
<br />ACCOUNTS ("PROJECT") OF WHICH $440,000 IS FROM TRANSFER TAX FROM
<br />COMMERCIAL PROPERTY SALE; AND AUTHORIZE $466,000 FROM THE FY 07-
<br />08 BUDGET (ANTICIPATED SAVINGS FROM LIBRARY OPERATING BUDGET) TO
<br />THE PROJECT ACCOUNTS
<br />
<br />WHEREAS, in October 2003, the California Public Library Construction and Renovation Board
<br />approved Redwood City's grant application for a 22,500 square foot library in the amount of $10.1
<br />million; and
<br />
<br />WHEREAS, the library design was completed with an area approximately 22,000 square feet,
<br />and approved by the State's Department Office of Library Construction (OLC) for advertising in March
<br />2006; and
<br />
<br />WHEREAS, after advertising using the conventional bidding method of soliciting lump sum
<br />bids, five bids for the Redwood Shores Community Library Project were received on November 15,
<br />2006, with the apparent low bid from Sasaul Corporation; and
<br />
<br />WHEREAS, the apparent lowest base bid and bid alternatives from Sasaul Corporation
<br />amounts to $14,472,500; and
<br />
<br />WHEREAS, there is a current balance of $13,800,000 available for this Project in the Capital
<br />Improvement Program Budget from the Capital Projects Fund and the GID 1-64 Facilities Fee Fund;
<br />and
<br />
<br />WHEREAS, there exists a shortfall of $3,030,000 consisting of the construction contract
<br />award with the bid alternatives, construction contingency, furniture procurement, construction
<br />management services, testing and inspection services, and a separate signage package; and
<br />
<br />WHEREAS, the shortfall of $3,030,000 includes the shortfall of $2,972,500, which represents
<br />the difference between the $14,472,500 bid with alternatives total and $11,500,000 in available
<br />funding for construction award; and
<br />
<br />WHEREAS, staff has identified two available funding sources to cover the $3,030,000
<br />shortfall: $2,564,000 from unreserved fund balance in the general fund ($2,124,000 from unreserved
<br />fund balance in the general fund available as of December 11, 2006 and $440,000 from additional
<br />property transfer taxes that are expected to be received in FY 2006/07), and $466,000 from the FY
<br />07-08 Budget (Anticipated Savings From The Library Operating Budget); and
<br />
<br />WHEREAS, Council action is necessary to approve the appropriation or transfer of funds
<br />from these three sources to the Redwood Shores Community Library Project.
<br />
<br />A TTY/RESO/RESO.1669
<br />120706
<br />
<br />14753
<br />Formerly Muff # 304
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