Memo-06-12-2018-Item-11f

June 12, 2018

MEMO TO:           Mayor Barber and Board of Commissioners

FROM:                  Frank A. Rush, Jr., Town Manager

SUBJECT:           Capital Project Ordinance Amendment – Bicycle and Pedestrian Fund

The Board of Commissioners is asked to approve the attached capital project ordinance amendment for the Bicycle and Pedestrian Fund.  The attached amendment appropriates $42,392 of additional revenues received during FY 17-18, and earmarks these funds for beneficial bicycle and pedestrian initiatives. 

The additional revenues received during FY 17-18 are primarily associated with the Emerald Isle Marathon, Half-Marathon, & 5K races, the Bike the Banks event, and other donations.  As of June 30, 2018, we project a total fund balance of approximately $55,000, and these funds are available for future bicycle and pedestrian projects as determined by the Bicycle and Pedestrian Advisory Committee and the Board of Commissioners. 

The Bicycle and Pedestrian Advisory Committee has discussed the need for bicycle path maintenance in some areas, and the Board recently discussed the need to resurface certain bicycle path segments in eastern Emerald Isle.  If desired, these funds could be used for bicycle path resurfacing in certain areas later this fall. 

I recommend approval of the attached capital project ordinance amendment.