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Title:
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Road Construction or Maintenance Funds
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Title
Road Construction or Maintenance Funds
Explanation
The federal court recently approved a settlement fund to resolve the petroleum products price-fixing case filed by the State of Florida. A lawsuit was filed against the major oil companies on behalf of Florida consumers and units of government that purchased petroleum products during the period July 9, 1969 to March 20, 1981.
The federal court determined that given the large number of potential claimants and the size of the settlement fund, the fairest and most practical approach was to distribute the money to Florida cities and counties on the basis of population. In selecting this approach, the court required that all settlement funds be used only for road construction or maintenance. Based on this requirement the City Manager concurred with the State of Florida that the City would utilize any settlement funds directed to the City of Gainesville for such purpose. The City of Gainesville received a check in the amount of $52,677.75 on January 21, 1999.
Based on the criteria for expenditure of these funds, staff recommends that the $52,677.75 be appropriated for inclusion in the resurfacing program for FY 99.
The following streets will be included in the FY 99 resurfacing program:
1) North 10th Avenue from N.W. 18th Street to Main Street at a cost of approximately $90,000; and,
2) N.W. 23rd Avenue from N.W. 16th Terrace to N.W. 13th Street at a cost of approximately $100,000; and,
3) Over runs from the FY 98 resurfacing list at a cost of approximately $100,000.
The above cost estimates are for resurfacing expenses only. Staff would like to complete the sidewalk gaps and provide traffic calming along North 10th Avenue and N.W. 23rd Avenue as well.
Fiscal Note
Funds are available from the State of Florida.
Recommendation
The City Commission approve the allocation of the $52,677.75 to the resurfacing program.