Title
REVIEW PROJECT FUNDING SHORTFALL FOR HIGHLANDS TRAIL
COUNCIL STRATEGIC INITIATIVE ADDRESSED:
Improve transportation systems
Maintain quality of place
SUMMARY STATEMENT:
The Highlands Trail project has been advertised for bids. Based on the current project funding and estimated construction costs, bids are estimated to exceed the available funding by $150,000. Due to federal bidding requirements, staff must reduce the scope of the project to match the available funding, or obtain additional funding appropriations from the city council. Staff will provide details of the project funding, construction estimate, and bidding restrictions during the city council meeting.
FINANCIAL SUMMARY:
This project is funded by federal Community Development Block Grants, a federal Transportation Enhancement grant, and a local Capital Projects Fund appropriation.
RECOMMENDED ACTION:
Direction to staff regarding project funding.