TO: LINDA REICH, CITY MANAGER
FROM: HYE JIN LEE, PE, DIRECTOR OF PUBLIC WORKS
SUBJECT
title
Traffic Signal Installation - Eucalyptus Avenue at Fern Avenue Project (TR240).
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RECOMMENDATION
1) Appropriate $609,291 from the Transportation Fund Balance 320 for the Traffic Signal Installation - Eucalyptus Avenue at Fern Avenue Project (TR240); 2) reduce the project budget by $609,291 from the Bridges/Signals/Thoroughfare (220) Development Impact Fee fund.; and 3) authorize the City Manager to execute all necessary documents on behalf of the City.
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FISCAL IMPACT
There is no change in the total project budget. The appropriation of $609,291 will come from the available Transportation Fund Balance, which had previously received a developer fair share contribution of $553,500 and the remaining accessibility remediation settlement agreement of $55,791 for this project, account 3201000-59358. This appropriation will also result in an increase to the Fund 220 fund balance by $609,291 due to the removal of its budget. The total project budget will remain at $1,272,029.01.
TR240 Project Budget
Funding Source
Adopted Budget
Additional Appropriation
Reducing Project Budget
Total
220 - Bridges/Signals/Thoroughfare
$1,097,029.01
$ 0.00
($609,291.00)
$487,738.01
322 - Measure I
$175,000.00
$ 0.00
$ 0.00
$175,000.00
320 - Transportation
$ 0.00
$609,291.00
$ 0.00
$609,291.00
Totals:
$1,272,029.01
$609,291.00
($609,291.00)
$1,272,029.01
CITY OF CHINO MISSION / VISION / VALUES / STRATEGIC ISSUES
The recommendation detailed above further 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: Click or tap here to enter text.
Expenditure:
Transfer In: 3201000 - 59358
Transfer Out: 3207100 - 40005 - TR240
BACKGROUND
On May 7, 2024, the City Council awarded a construction contract to Elecnor Belco Electric, Inc., f...
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