HomeMy WebLinkAbout2017-070 (amend PD Remodeling/City Hall Upgrade Project to include funding for unanticipated additional building project needs; reallocate 2017 Capital Outlay Funding; reallocate Debt Service Levies for Series 2005C Bonds for 2016) RESOLUTION 2017-070
RESOLUTION AMENDING THE POLICE DEPARTMENT REMODELING/ CITY HALL
UPGRADE PROJECT TO INCLUDE FUNDING FOR UNANTICIPATED ADDITIONAL
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BUILDING PROJECT NEEDS; REALLOCATING 2017 CAPITAL OUTLAY FUNDING;
REALLOCATING DEBT SERVICE LEVIES FOR SERIES 2005C BONDS FOR 2016 AND
2017 TO FUND ADDITIONAL BUILDING PROJECT NEEDS AND REDUCE DEBT
ISSUANCE FOR 2017; REALLOCATING THE ST. CROIX VALLEY RECREATION CENTER
CONTRIBUTION TO DEBT SERVICE FROM SERIES 2005C TO SERIES 2009C
WHEREAS, The City Council has previously approved the Police Department
Remodeling/City Hall Upgrade project at a total cost of$2,125,000; and
WHEREAS,during the remodeling activities,unanticipated building needs have been
discovered that require immediate attention and have exceeded the budgeted project
contingency fund, including reroofing of the former fire station,relocating rooftop electrical
conduits at the old fire station, technology needs, furniture, fixtures and equipment (FFE)
needs, site signage and additional contingency as noted below; and
Reroof former fire station $132,250
Relocating rooftop conduits $ 40,000
Technology needs $ 71,750
FFE $103,500
Additional project contingency $ 40,000
Site Signage $ 12,700
TOTAL $400,200
WHEREAS,City staff has reviewed the approved 2017 capital funding budget and the
2016 and 2017 debt service levies for possible reallocation in order to fund the unforeseen
additional building project needs; and
WHEREAS, City staff recommends reallocating 2017 capital outlay funding and
reallocating debt service levies for Series 2005C Bonds for 2016 and 2017 in order to fund
the unforeseen additional building project needs and to reduce the anticipated 2017 debt
issuance amounts as noted below; and
Reallocation of 2017 Capital Outlay $210,879
Reallocation of 2016 Series 2005C debt service levy $248,252
Reallocation of 2017 Series 2005C debt service levy $250,436
TOTAL $709,567
Less additional building project needs ($400.200)
Reduction in anticipated 2017 Debt Issuance $309,367
WHEREAS, City staff also recommends reallocating the St. Croix Valley Recreation
Center contribution to debt service from Series 2005C to Series 2009C.
NOW THEREFORE BE IT RESOLVED, that the City Council of the City of Stillwater
hereby:
1. Amends the police department remodeling/city hall upgrade project to include
funding for unanticipated additional building project needs in the amount of
$400,200.
2. Reallocates 2017 capital outlay funding in the amount of$210,879.
3. Reallocates debt service levies for Series 2005C Bonds for 2016 ($248,252) and
2017 ($250,436) to fund the additional building project needs and reduce
anticipated 2017 debt issuance by$309,367.
4. Reallocates the St. Croix Valley Recreation Center contribution to debt service
from Series 2005C to Series 2009C Bonds.
Enacted by the City Council of the City of Stillwater, Minnesota this 4th day of April 2017.
CITY OF STILLWATER
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Ted Kozlowski, Ma or
ATTEST:
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Diane F.Ward, City Clerk //