Laserfiche WebLink
panel conversions on private property. For tracking purposes, the street lighting portion is ci~ <br /> No. 025071A and the electhcal conversions are referred to as CIP No. 025071B. A contract for <br /> electrical conversions, Project 0250718, will be brought to the City Council at a later date. <br /> <br /> CURRENT FUNDING <br /> <br />First and Kottinger Undergrounding Phase I & II <br />Street Lights and Electrical Service Laterals (CIP NO. 025071)$560,490.00 <br /> <br /> CURRENT EXPENDITURES <br /> <br />First Street Lighting Construction Contract (025071A) $480,342.00 <br />First Street Lighting Contingency 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 Deficit $140,113.00 <br />FUTURE FUNDING <br /> <br />Reimbursement Rule 20A Funds* (80% of $300,000) $240,000.00 <br />Commercial Property Reimbursement* (estimated) $ 35,000.00 <br />Total $275,000.00 <br />*(These reimbursements are limited by PUC Rule 20A criteria) <br /> <br />FUTURE EXPENDITURES <br /> <br />Individual Electrical Property Conversions (02507 lB) $300,000.00 <br />(estimated) <br />Installation of 5 remaining light fixtures (estimated) $ 25,000.00 <br />Total $325,000.00 <br /> <br />Based on the above estimates, it is anticipated that an additional $325,000 will need to be added <br />to the project for the electrical conversions. $275,000 of the projected $325,000 future funding <br />needs will be reimbursed from either Rule 20A funds or from private commercial contributions. <br />Therefore, the total project deficit is estimated at $190,113. Staff will request appropriation of <br />these additional funds at the time the electrical conversion contract, CIP 020718, is awarded <br />later this year. <br /> <br />SR:04:254 <br />Page 4 of 5 <br /> <br /> <br />