Number
051571
Version
SUBSTITUTE “A”
Reference
050193
Sponsor
THE CHAIR
Title
Substitute resolution authorizing the transfer of funds from the Street Improvement-State and/or Federal Aid Program to the Street Reconstruct or Resurface Program - Regular City Program for funding of local street improvements under the Local Roads Improvement Program. The City cost is $533,745 with a total estimated cost of $2,119,663. (Infrastructure Services Division)
Analysis
This resolution directs the transfer of $533,745 of City funds and $1,059,851.55 of grantor funds to the Street Reconstruct or Resurface Program. The total cost of the program is estimated to be $2,119,663.
Body
Whereas, State Statute 86.31 established a Local Roads Improvement Program (LRIP) to provide up to 50% reimbursement by the State of eligible costs for local street improvements; and
Whereas, In 2006-2007, under the LRIP Program, the City of Milwaukee is entitled to receive reimbursement up to a maximum amount of $1,059,831.55 for local street improvements; and
Whereas, Resolution 050193 authorized the agreement, but did not set up the funding; and
Whereas, Funds for projects to be undertaken under the LRIP Program are budgeted in the Street Improvement - State and/or Federal Aid Program Fund in the 2006 Capital Improvement Program (Fund 0333 and Fund 0330); and
Whereas, It is advantageous and necessary that these funds be transferred to the Street Reconstruct or Resurface Program - Regular City Program (Fund 0333); and
Whereas, The projects funded with this program area anticipated to be constructed in the 2006 construction season; and
Whereas, The Street Reconstruct or Resurface - Regular City Program (Fund 0330) has sufficient funds to cover the assessable portion of these projects; now, therefore, be it
Resolved, By the Common Council, that the City Comptroller is hereby authorized to transfer appropriations to Infrastructure Services Division Account No. 0333-ST211060000; Str...
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