Number
141233
Version
ORIGINAL
Reference
Sponsor
THE CHAIR
Title
Resolution authorizing the City Comptroller to transfer additional funds to already existing Zoo Interchange Core, Phase I contract subaccounts, for the estimated remaining Wisconsin Department of Transportation and Milwaukee Water Works construction costs of $119,440 with the City’s share being $11,944 and the grantor’s share being $107,496.
Analysis
This resolution authorizes the City Comptroller to transfer additional funds to various existing State and Federal Aid Zoo Interchange Core, Phase I contract subaccounts, for the estimated remaining Wisconsin Department of Transportation and Milwaukee Water Works construction costs of $119,440 with the City’s share being $11,944 and the grantor’s share being $107,496. The total estimated cost of the project is $261,228,770 with the grantor’s share being $260,795,890 and the City’s share being $432,880
Body
Whereas, Common Council File Numbers 131564 and 131058 previously authorized the proper City officials to execute a State Municipal Agreements with the Wisconsin Department of Transportation for Milwaukee Water Works utility alterations in conjunction with the Zoo Interchange Core, Phase I contract; and
Whereas, The City Comptroller was also authorized, under Common Council File Numbers 131564 and 131058, to create within the Capital Improvement Fund, Grant and Aid projects, the necessary Project Grant Chartfield Values for construction for the project (expenditure) and transfer to any of these accounts the amounts required under the grant easement and City Accounting Policy, and
Whereas, Funding for utilities is 90% State and 10% Municipal, per chapter 84.295 of the Wisconsin State Statues, and as defined in the State Municipal Agreement; and
Whereas, Contract bid amounts require additional construction funds be appropriated to satisfy the City of Milwaukee’s monetary responsibility as defined in the State Municipal Agreement; and
W...
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