Number
011612
Version
SUBSTITUTE
Reference
Sponsor
THE CHAIR
Title
Substitute resolution regarding construction funding for the Park East Freeway reconfiguration as a nonassessable public improvement.
Analysis
This substitute resolution appropriates construction funds for the City's local share of the Park East Freeway reconfiguration project. The project is being funded with 85% Federal Aid and 15% City funds. Tax Incremental District No. 48 funds will also be used. The City's share is $3,873,800.
Body
Whereas, Common Council Resolution File Number 990416, adopted July 13, 1999, indicated the Common Council's support to remove the Park East Freeway and to replace it with an at-grade surface arterial facility; and
Whereas, The replacement facility also includes the construction of a new vertical lift bridge over the Milwaukee River; and
Whereas, The Wisconsin Department of Transportation (WISDOT) will be letting construction contracts to undertake the project; and
Whereas, The City will fund its share of the project costs utilizing Federal aid (85%) City nonassessable funds and Tax Incremental District (TID) funds; and
Whereas, The TID funds will be utilized to fund the City's share of any additional costs associated with the project; and
Whereas, WISDOT will bill the City for its share of the project; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee that the City Comptroller is hereby authorized and directed to create within the Capital Improvement Fund, Grant and Aid Projects, the necessary Project/Grant Chartfield Values for construction for the following projects (Expenditure) and transfer to any of these accounts the amount required under the grant agreement and City Accounting Policy but not to exceed a 10 percent increase of the total amounts reserved or $5,000, whichever is greater:
Infrastructure Services Division Accounts
ID 1730-06-70
Knapp Street Bridge
Grantor Share Account No. SP032020100
Fund 0306
(Construction Engineering)
$640,000
City Share Account No. BR10020000
Fund 0303
$870,000
Estimated Total
$1,510,000
ID 1730-06-70
Knapp Street Bridge Approaches
Grantor Share Account No. SP032020100
Fund 0306
(Construction Engineering)
$176,700
City Share Account No. ST320020000
Fund 0333
$239,100
Estimated Total
$415,800
ID 1730-07-40
Utility Relocation
City Share Account No. ST320020000
Fund 0333
$39,000
Estimated Total
$39,000
ID 1730-07-70
Park East Freeway
Local Street Improvements
Grantor Share Account No. SP032020100
Fund 0306
(Construction Engineering)
$360,000
City Share Account No. ST320020000
Fund 0333
$485,700
Estimated Total
$845,700
Tax Incremental District No. 48 Funds
TD000010000
Fund 0336
$2,500,000
; and, be it
Further Resolved, That the City Engineer is authorized and directed to approve and make periodic payments to the WISDOT after receipt of invoices from WISDOT;
and, be it
Further Resolved, That the release and disbursement of the TID funds must be approved by the Commissioner of City Development.
...Requestor
Public Works Department
Drafter
Infrastructure Services Division
RB:dle
March 13, 2002
PARKEASTRECONRES