SR 06:077 - Laserfiche WebLink

Phase I Bernal Sports Field - Funding totaling $737,907 is recommended from the Bernal Property Improvement Reserve which if approved, will result in a Reserve fund balance of $3,902,954. The current CIP estimates an additional $5.2 million for this Reserve over the remaining three years of the CIP. Because the Bernal property is currently in the planning stage and because staff anticipates a long-term funding plan will be necessary for this property, utilization of this revenue is an appropriate use to assure development of the sports fields project. As indicated on this sheet, final project cost estimates are dependent on project design approval. Alviso Adobe Community Park - As indicated on Sheet 2, funding includes a transfer of funds for existing park CIP projects including the Aquatic Center Reserve ($280,068); Hart Middle School Field Improvements ($60,000); South Pleasanton Neighborhood Park ($47,275); and Sutter Gate Park ($153,115). These transfers were recommended by the Parks and Recreation Commission and conceptually approved by the Council at its February 21 meeting. Project funding does not anticipate PUSD contributing or federal grants. If this money becomes available, staff will recommend changes to the budget. Kottinger Cleek Restoration - This project shows a funding shortfall of $305,273. However, staff has submitted a California River Parkways Grant application in the amount of $304,000 and awarding of the grant is anticipated this spring. In addition, as indicated previously, staff will be scheduling a City Council review of project specifications that may reduce the project scope by incorporating fewer bridges from the number included in the current design. As a result, staff anticipates addressing the project shortfall prior to project approval. Firehouse Arts Center - This project anticipates an active fundraising campaign resulting in $2 million, or more, of funding. While the actual amount raised is unknown, the Pleasanton Cultural Arts Council has set this as a target amount. Regardless ofthe outcome, the $8,860,802 available in the funding plan may be sufficient if the Council elects to pursue a phased approach to project construction. In addition to the above, staffis recommending the CIPR balance of $162,731 be "reserved" as an overall contingency for all of the five projects available to address higher than anticipated construction bid results. As indicated previously, while staff will be working closely with project designers to develop project specifications that assure cost effective project design and facilitate accurate bid results, actual construction bids are controlled by the bid environment which is subject to rapid change based on the overall economy, the status of the building trades and the cost of materials and equipment. As a result, the contingency should help "cushion" any unforeseen bid results. SR:06:077 Page 5