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City, after reimbursement, is estimated at $194,500. Below is a complete summary of all <br />costs. It is recommended that the additional cost for the conversion work be drawn from the <br />General Fund allocation for Annual Resurfacing of Various Streets (Project No. 035003). <br /> <br />PREVIOUSLY APPROVED FUNDING <br />- First and Kottinger Undergrounding Phase I & II <br /> Street Lights and Electrical Service Laterals (CIP NO. 025071) $560,490.00 <br />- Additional Funding Authorized by City Council October 5, 2004 $140,113.00 <br /> Subtotal $700,603.00 <br /> <br />PREVIOUSLY PROPOSED EXPENDITURES <br />First Street Lighting Construction Contract (025071A $480,342.00 <br />First Street Lighting Confmgency 15 % $72,051.00 <br />Construction Services (Survey/Soils) $10,000.00 <br />Design Consultant $138,210.00 <br /> Total $700,603.00 <br /> <br />CURRENT PROJECTED DEFICIT/UPFRONT COSTS <br />Pending/Project Utility Conversions on Private Property $229,000.00 <br />Contingency $32,000.00 <br />Future Installation of Street Lighting once overhead wires are removed (est.) $25,000.00 <br /> Subtotal $286,000.00 <br /> <br />PROJECTED FUTURE FUNDING REIMBURSEMENTS <br />Reimbursement Rule 20A Funds ($1500 per property) $61,500.00 <br />Commercial Property Reimbursemem (estimated) $30,000.00 <br /> Total $91,500.00 <br /> <br />FISCAL IMPACT <br /> <br />Once completed, this project will result in a minimal increase in operating and maintenance <br />costs by providing decorative lighting f'Lxtures along First Street and a portion of Kottinger <br />Drive. <br /> <br />~'-'~ ,~Respectfully Submitted, ./~'~' ~'~'~ ~ <br />Rob Wilson Susan Rossi Nelson Fialho <br />Director of Public Works Director of Finance City Manager <br /> <br />Attachment: October 5, 2004 City Council Staff Report 4H <br /> <br />SR 05:048 <br />Page 4 of 4 <br /> <br /> <br />