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Honorable Mayor, City Council and Staff <br />April 18, 2008 <br />Page 3 <br />3. Additional work, as necessary, to address issues brought to our attention by residents <br />this spring. <br />4. Street and Utility Funds <br />Based on a review of the street funds by the Finance Director, he has indicated that <br />approximately $38,000 of undedicated funds remain in the Street Reconstruction Account <br />from previous projects. These funds must be expended by early 2008 or be dedicated to <br />paying off previous bond issuance. <br />In summary, we are seeking a Resolution from the City Council to address the funding shortfall <br />associated with the increase of costs for the 2007 Street Reconstruction Project. This Resolution is <br />necessary, as determined by the City's Finance Director, to transfer funds from the Water & Utility <br />and the Street Improvement Funds to cover the shortfall in the 2007 street and utility project. We <br />request that the Council consider dedicating the remaining portion of the Water Treatment Plant <br />Improvements and the remaining balance in the street project fund to the 2007 street project. This <br />will provide $188,000 to cover the anticipated shortfall in the 2007 Street Reconstruction Project. <br />I will be present at the April 29, 2008, City Council work session to discuss these issues with you <br />and answer any questions you may have. If you would like additional information prior to the <br />meeting, feel free to call me at 763 - 287 -7182. <br />Sincerely, <br />WSB & Associates, Inc. <br />Todd E. Hubmer, PE <br />City Engineer <br />lh <br />I 11741'15 /OFi -;1 /]77- leiipri �✓a¢-- IUI- u.¢J��e <br />