SUBJECT: Ordinance approving the Fiscal Year 2016 Operating Budget for Old Sixth Ward Redevelopment Authority and Fiscal Years 2016-2020 Capital Improvement Plan (CIP) Budget for Reinvestment Zone Number Thirteen (Old Sixth Ward).
RECOMMENDATION: (Summary)
Ordinance approving the Fiscal Year 2016 Operating Budget for Old Sixth Ward Redevelopment Authority and Fiscal Years 2016-2020 Capital Improvement Plan (CIP) Budget for Reinvestment Zone Number Thirteen (Old Sixth Ward).
SPECIFIC EXPLANATION:
The Administration has undertaken a comprehensive review of the proposed FY16 TIRZ budgets and recommends approval of the FY16 Operating Budget for Reinvestment Zone Number 13 (Old Sixth Ward Zone).
Total Operating Budget for FY16 is $2,581,940, which includes $885,346 for required fund transfers, and $1,696,594 for project costs.
The FY16-FY20 CIP Budget totals $2,950,000, and includes provisions for sanitary sewer rehabilitation, street and drainage improvements, park improvements, streetscape improvements, bus stop enhancements, a HAWK signal installation, and sidewalk rehabilitation
The FY16 Operating Budget includes $47,000 for administration and overhead. The Authority must advise the Chief Development Officer of any budget amendments. Adjustments to the Project Costs in the Operating Budget that exceed $400,000 require City Council approval.
The budget includes a municipal services cost payment in FY16 of 40,000 to pay for the incremental cost of providing services to the area.
The Department of Public Works and Engineering has received the budget information and has provided input and recommendations accordingly. The five year CIP is consistent with last year’s CIP with the following exceptions representing new projects: (1.) HAWK pedestrian crosswalk, Metro bus stop enhancements, Washington Ave curb and sidewalk rehab and a traffic sign rehabilitation.
Attachments: FY16 Operating Budgets
CC:
Marta Crinejo, Agenda Director
Anna Russell, City Secretary
Donna Edmundson, City Attorney
Gary Dzierlenga, Sr. Assistant City Attorney