Laserfiche WebLink
REQUEST FOR <br />COUNCIL ACTION <br />CITY COUNCIL MEETING DATE: <br />FEBRUARY 5, 2019 <br />TITLE: <br />APPROVE APPROPRIATION ADJUSTMENTS <br />AND REALLOCATION OF FUNDS FOR <br />BRISTOL STREET IMPROVEMENTS <br />PROJECT PHASE 3B (PROJECT NO. 11-6740 <br />NONGENERALFUND) <br />(STRATEGIC PLAN NOS. 6, 1G; 3, 2C) <br />CITY MANAGER <br />RECOMMENDED ACTION <br />CLERK OF COUNCIL USE ONLY: <br />APPROVED <br />❑ As Recommended <br />❑ As Amended <br />❑ Ordinance on 16' Reading <br />❑ Ordinance on 2nd Reading <br />❑ Implementing Resolution <br />❑ Set Public Hearing For <br />CONTINUED TO <br />FILE NUMBER <br />1. Approve an appropriation adjustment appropriating $600,000 from prior year fund balance in <br />the Select Street Construction revenue account, and appropriating the same amount into the <br />Select Street Construction expenditure account. <br />2. Approve an appropriation adjustment recognizing $572,000 in Transportation System <br />Improvement Area F revenues, and appropriate the same amount into Transportation System <br />Improvement Area F expenditure account. <br />3. Authorize the reallocation of $1,252,209 in unspent Fiscal Year 2015-16 Measure M2 Local <br />Fairshare Funds from a completed project to the Bristol Street Improvements Project Phase <br />3B (Project No. 11-6740). <br />DISCUSSION <br />Bristol Street is a major north -south transportation facility which is designated as a major arterial <br />in the City's Circulation Element of the General plan. Improving the 3.9 -mile Bristol Street <br />segment from Warner Avenue to Memory Lane has been a long-term priority project that will be <br />constructed in several phases. This segment is between Washington Avenue and Seventeenth <br />Street and is designated as Phase 3B. Improvements include widening the street from two to <br />three lanes in each direction, raised landscape medians, and bike lanes. <br />Since the project is nearly completed, a reconciliation of project revenues found that initial <br />expenditures made by the funding agency (Orange County Transportation Authority) had not <br />been accounted for when the City took over managing the funds. In order to restore project <br />budget levels to their original amounts, the two above appropriation adjustments are <br />recommended. In addition, the third recommended action reallocates unexpended funds from a <br />completed project to make them available for this project. These funds will allow final payments <br />to be made and project closeout to be initiated. <br />20A-1 <br />