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Legacy Square Transportation Improvements <br />March 4, 2025 <br />Page 2 <br />4 <br />8 <br />5 <br />7 <br />covered in the grant fund. The existing project includes new striped bike lanes, <br />sidewalk, and curb ramp improvements in this street segment. <br />To capitalize on the favorable pricing of the existing contract with CJ Construction <br />Concrete, Staff recommends increasing the project contingency by $380,000 to <br />complete the additional improvements as part of the Legacy Square Transportation <br />Project. <br />The recommended action will increase the project contingency by $380,000, thereby <br />increasing the total estimated construction delivery cost to $2,178,079, as indicated in <br />the Cost Analysis (Exhibit 3) and as summarized in the table below: <br />Project Item Current Total Additional <br />Funding New Total <br />Construction Contract Bid Amount $1,433,200 $1,433,200 <br />Construction Administration, <br />Inspection, Testing $221,559 $221,559 <br />Project Contingencies $143,320 $380,000 $523,320 <br />TOTAL ESTIMATED <br />CONSTRUCTION DELIVERY COST $1,798,079 $380,000 $2,178,079 <br />FISCAL IMPACT <br />As indicated in the Cost Analysis, the estimated total construction delivery cost of the <br />project is $2,178,079. All funds are available for expenditure in Fiscal Year 2024-25. <br />Any remaining balances not expended at the end of the fiscal year will be presented to <br />City Council for approval of carryovers to Fiscal Year 2025-2026. <br />With the approval of the requested appropriation adjustment, a portion of the <br />accumulated fund balance will be appropriated for spending in the Residential Street <br />Improvement, Improvements Other Than Buildings account (No. 05817660-66220) <br />(Exhibit 4). The spendable portion of the fund balance is estimated to be $2,307,777 as <br />of June 30, 2025, which is sufficient to allow for the recommended appropriation of <br />$380,000. These funds will be budgeted and made available for this item in the <br />accounts listed below. <br />Fiscal <br />Year <br />Accounting <br />Unit – <br />Account No. <br />(Project No.) <br />Fund <br />Description <br />Accounting Unit, Account <br />No. Description Amount <br />EXISTING BUDGET