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HomeMy WebLinkAboutCAPITAL PROJECT BUDGET_ GDOT FINANCIAL ASSISTANCE FROM GDOT FY2019 AND FY2020 LOCAL MAINTENANCE AND IMPROVEMENT GRANT (FY19 LMIG & FY20 LMIG) Augusta-Richmond County,Georgia CAPITAL PROJECT BUDGET Local Maintenance and Improvement BE IT ORDAINED by the Commission-Council of Augusta-Richmond County, Georgia that the following Capital Project Budget is hereby adopted: Section 1: Approve and authorize Augusta Engineering Department(AED)to submit,accept and receive Georgia Department of Transportation(GDOT)Financial Assistance from GDOT FY2019 and FY2020 Local Maintenance and Improvement Grant(FY2019 LMIG&FY2020 LMIG) for road&Drainage Improvements&maintenance projects(Listed under Financial Impact Section) as requested by AED. Section 2: The following revenues are anticipated to be available to the Consolidated Government to complete the project. Engineering SPLOST VI FUND BALANCE $ 2,500,000.00 TIA Discretionary(2019&2020) $ 200,000.00 LMIG(2019&2020) $ 2,000,000.00 $ 4,700,000.00 Section 3: Copies of this Capital Project Budget shall be made available to the Comptroller for direction in carrying out this project. Adopted this �J day of e,rnber 21) g . •.prov- Honorable Hardie Davis,Jr.,Mayor Original-Commission Counci IIP /V Copy-Engineering Department Copy-Finance Department Copy-Procurement Department 1 012 12/7/2018 Augusta-Richmond County,Georgia CAPITAL PROJECT BUDGET Local Maintenance and Improvement CPB AMOUNT CPB NEW SOURCE OF FUNDS CPB ADDITION CPB Engineering SPLOST VI FUND BALANCE $ (2,500,000.00) $ - $ (2,500,000.00) TIA Discretionary local match $ (200,000.00) $ (200,000.00) $ - $ TIA Discretionary $ (2,000,000.00) $ (2,000,000.00) TOTAL SOURCES: $ (4,700,000.00) $ - $ (4,700,000.00) USE OF FUNDS Engineering SPLOST VI(2.5M Fund Balance) $ 2,500,000.00 $ - $ 2,500,000.00 TIA Discretionary(local funding match of 10%) $ 200,000.00 $ 200,000.00 TIA Discretionary($1M per year),and $ 2,000,000.00 $ 2,000,000.00 TOTAL USES: $ 4,700,000.00 $ - $ 4,700,000.00 2 of 2 12/7/2018