Title
State Roads 26/26A Lighting Plans (NB)
Explanation
At its meeting on June 29, 2005, the Metropolitan Transportation Planning Organization (MTPO) discussed the shortfall in funding for the proposed lighting plans for the State Road 26/26A projects. GRU staff has finalized the lighting design, updated the cost estimates, and has projected that the shortfall in the funding is $476,177. The final design incorporates seventy-one Renaissance style decorative luminaries and poles, thirty-two Traditional walkway style luminaries and poles, four bridge mounted Traditional walkway style luminaries on special poles, thirty-nine Conventional black roadway luminaries on black octagonal poles and three black roadway luminaries mounted on traffic signal poles.
Initial discussions of the MTPO were that the City and County should split the shortfall 50/50, as provided in the Campus Development Agreement, where other State Road 26/26A project costs were anticipated to be split. This would require $238,088.50 from the City. Staff recommends that up to $250,000 be set aside for lighting system shortfall expenses from unappropriated interest earnings on transportation related bond proceeds.
Fiscal Note
Funding is available in unappropriated interest earnings on transportation related bond proceeds.
Recommendation
The City Commission authorize expenditure of up to $250,000 from retained interest earnings from transportation bonds for the lighting system on State Road 26/26A.