TO: LINDA REICH, CITY MANAGER
FROM: HYE JIN LEE, PE, DIRECTOR OF PUBLIC WORKS
SUBJECT
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Abatement Payment - California Department of Transportation (CalTrans) for the Pine Avenue Connector Project ST061.
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RECOMMENDATION
recommendation
1) Appropriate $985,421 to the Transportation Fund backfilled by General Fund; 2) approve the abatement payment to the California Department of Transportation (Caltrans) for the Pine Avenue Connector Project ST061 in the amount of $1,529,549; 3) establish a new Capital Improvement Project No. ST261 for the Pine Avenue Connector / Bridge Project, formally closing out Pine Avenue Connector Project ST061; and 4) authorize the City Manager to execute all necessary documents on behalf of the City.
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FISCAL IMPACT
This appropriation will reduce the available fund balance in the General Fund 100 by $985,421. There is sufficient available General Fund balance for this transaction. There is sufficient project budget in ST061 for the Fund 328 and Fund 260 expenses. This appropriation will not increase the project budget but replaces the funding source for expenditures that did not qualify for reimbursement from the SAFETEA-LU Grant.
The total abatement payment of $1,529,549 will be funded through the following allocations:
Fund
Amount
Measure I Arterial Fund (Fund 328)
$ 328,000
Transportation Fund 320 backfilled with Preserve Circulation Development Impact Fees (Fund 260)
$ 216,128
Transportation Fund 320 backfilled with General Fund (Fund 100)
$ 985,421
Total
$1,529,549
CITY OF CHINO MISSION / VISION / VALUES / STRATEGIC ISSUES
The recommendation detailed above furthers the City's values and strategic issues that serve as key pillars on which identified priorities, goals, and action plans are built, by fostering:
* Financial Stability
* Responsible Long-Range Planning
Revenue:
Expenditure: 3207100-ST061 & 3287103-ST061
Transfer In: 3201000-50000
Transfer Out:2601000-40001
BACKGROUND
Project Overview
The ...
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