Memo-06-14-2016-Item11d

June 14, 2016

MEMO TO:           Mayor Barber and Board of Commissioners

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

SUBJECT:           Capital Project Ordinance Amendments –

Senator Jean Preston Memorial Park CPO, Bicycle and Pedestrian Fund CPO

The Board of Commissioners is asked to approve two capital project ordinance amendments in preparation for the close-out of FY 15-16 on June 30.  The attached memo from Laura Rotchford, Finance Director, includes a detailed explanation of the two amendments.

The capital project ordinance amendment for the Senator Jean Preston Memorial Park project simply recognizes additional donation revenue and allocates it for project expenses.  The Board should note that there is currently a balance of approximately $8,000 in this project account that is available for additional improvements at the new park in the future.  We intend to consult with Judy Wilgus, Chair of the volunteer fundraising committee, to determine specific additional park improvements to be added in the future with the remaining funds.

The capital project ordinance amendment for the Bicycle and Pedestrian Fund simply recognizes additional fundraising proceeds from the Marathon races and the Bike the Banks event.  The Board should note that there is currently a balance of approximately $67,000 in this account.  A total of $49,000 is earmarked for the new walkway to be constructed at The Point vehicle ramp later this summer and the construction of a new bicycle path segment along Bogue Inlet Drive.  After completing these projects, we expect to still have a balance of approximately $18,000 for future, undetermined bicycle and pedestrian improvements.

I recommend approval of the attached capital project ordinance amendments.