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The Pleasanton Cultural Arts Foundation raised funds in the amount of $931,900 <br /> towards the construction of the Firehouse Arts Center. In addition, the Foundation <br /> obtained pledges in the amount of $838,100 that will reimburse the City in future years. <br /> As a result, the actual project cost to the City is $10,332,720. This cost also included an <br /> additional $345,000 for installation of solar panels, an option that was recommended by <br /> staff and approved by the City Council, and $20,000 for the installation of ADA <br /> compliant doors. Given the age of the historic building and the unknowns associated <br /> with both the structure as well as streets built in the 1920's, it was important to include <br /> adequate contingency funds to address any major unanticipated issues. Fortunately, no <br /> significant issues were encountered. Along with the careful monitoring of change orders, <br /> the total remaining contingency for both projects is $504,018 (see chart below and <br /> Attachments A and B). <br /> CIP Total Budget Expenditures Remaining Balance <br /> Firehouse Arts Center $12,204,191 $12,102,720 $101,471 <br /> (CIP 038011) <br /> Firehouse Arts Center <br /> Parking Improvements $2,467,082 $2,064,535 $402,547 <br /> (CIP 098035) _ <br /> Transfer to Downtown Parking-Corridor CIP No. 018044 $504,018 <br /> Submitted by: Fiscal Review: Approved <br /> 4) <br /> ulie <br /> Yuan-4 iu Emily agner Nelson Fialho <br /> /Assistant Pity Manager/ Director of Finance City Manager <br /> Dir. of Administrative Services <br /> Attachments: <br /> 1. Funding and Expenditure Summary (CIP 038011) <br /> 2. Funding and Expenditure Summary (CIP 098035) <br /> Page 3 of 3 <br />