July 12, 2016

MEMO TO:           Mayor Barber and Board of Commissioners

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

SUBJECT:           Capital Project Ordinance Amendments – NC 58 Traffic Signal Poles, Bicycle and Pedestrian Fund, Cape Emerald Pipe Replacement

The Board of Commissioners is asked to approve three procedural capital project ordinance amendments at the July 12 meeting.  The three amendments are all associated with decisions made as part of the FY 16-17 budget adoption, and are presented in order to insure consistency between the FY 16-17 annual budget and the Town’s multi-year capital project budgets.  The attached memo from Laura Rotchford, Finance Director, includes an explanation of each of the three amendments.
Amendment 1, Amendment 2, Amendment 3

The Board should note the planned closure of the NC 58 Traffic Signal Poles Project account.  The Town had previously reserved a total of $36,000 left-over from the 2013 Community Improvements Package for a 5% Town match for new traffic signal poles at the 4 signalized intersections along NC 58 in Emerald Isle.  The Town previously requested a total of $684,000 from the State for these improvements ($228,000 each from the NC House, NC Senate, and NC Board of Transportation), however, these funds have not been awarded to date and do not appear to be forthcoming.  Additionally, and perhaps more appropriately, the Town is now seeking NCDOT funding for traffic improvements at the same 4 intersections as part of the Statewide Transportation Improvement Program.  I remain hopeful that the Town will ultimately secure NCDOT funding through this process for new roundabouts, new traffic signals, new lane improvements, and/or other beneficial traffic improvements in the future.  As discussed during the FY 16-17 budget process, the $36,000 reserved in the NC 58 Traffic Signal Poles Project account is being re-allocated for the construction of a new bicycle path along Bogue Inlet Pier.  That project has an estimated cost of $70,000, and will be supplemented by $34,000 of reserve funds in the Bicycle & Pedestrian Fund.

The Board should also note the attached capital project ordinance amendment for the Bicycle & Pedestrian Fund.  As of June 30, 2016, that fund is expected to have a fund balance of approximately $66,000.  Of this amount, a total of $34,000 is earmarked for the planned Bogue Inlet Drive bicycle path, and $15,000 is earmarked for the new beach access walkway at The Point vehicle ramp, and both of these projects are planned for construction later this year.  After these expenditures, that will leave a balance of approximately $17,000 in the Bicycle & Pedestrian Fund.  The attached capital project ordinance amendment also appropriates an anticipated $25,000 from the 2017 Emerald Isle marathon races, which would then result in a projected fund balance of approximately $42,000 for consideration as part of the FY 17-18 budget process or other project ideas that may surface between now and then. 

I recommend approval of the three capital project ordinance amendments.