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MAIN STREET RECONSTRUCTION <br /> <br />This past year, the City began construction on the Main Street Reconstruction Project. The project is <br />being funded over two fiscal years from a variety of sources. The budget below represents an increase <br />of $183,900 over the original project budget to reflect cost increases related to contractor i~:centives, <br />colored utility boxes and completed and anticipated change orders. The following table summarizes the <br />funding: <br />FUNDING 1992/93 ~ 1993/94 I TOTAL <br />® Discretionary Funds <br /> <br /> Proposition 4 $150,000 $150,000 <br /> Measure B 240,000 $582,000 822,000 <br /> General Fund 50,800 261,200 3 12,000 <br /> Street In-Lieu Fund 316,000 316,000 <br /> S UBTOTAL $440,800 $1,159,200 $1,600,000 <br /> · Non-Discretionary Funds <br /> Water Replacement Funds 202,400 70,600 273,000 <br /> Sewer Replacement Funds 264,800 3,500 268,300 <br /> Gas Tax Fund 65,000 816,700 881,700 <br /> S UBTOTAL $532,200 $706,900 $1,239, 100 <br /> TOTAL $973,000 $2,050,000 $3,023,000 <br /> <br />SUMMARY <br /> <br />As indicated in last year's Capital Improvement Program, the community continues to go through a <br />transition from the rapid growth of the 1980s to a slower more measured growth in the 1990s. In <br />recognition of this change, staff has prepared a conservative Capital Improvement Program which <br />addresses immediate Capital Improvement needs and allows for development of new projects and <br />facilities. While the conservative nature of this program results in a number of worthy projects being <br />unfunded, staff is of the opinion that some of these projects may be able to be funded throughout the <br />five years of this program should additional revenues become available. <br /> <br />(ci~=g.~) ~uty 7, t~:~ <br /> <br /> X <br /> <br /> <br />