Title
A Resolution to Transfer Local Funds for the SW 62nd Blvd Project (B)
Explanation
The Florida Department of Transportation has funds in the amount of $443,700.27 remaining from the Right of Way Acquisition phase of the Depot Avenue project. These funds were pledged by the City as the 50% County Incentive Grant Program (CIGP) match and must be used on an FDOT Project. These funds can be reallocated to the Right of Way Acquisition phase of the SW 62nd Blvd project.
Fiscal Note
The construction phase of this project is currently unfunded. However, the recommended re-allocation of the CIGP funds combined with the FDOT Amendment Request for the October 3, 2017 Metropolitan Transportation Planning Organization (MTPO) meeting is sufficient for the estimated cost of land rights required for this phase of the SW 62nd Blvd project between SW 43rd Street to SW 52nd Street.
Recommendation
The City Commission: 1) approve the resolution authorizing reallocation of local funds as described; and 2) authorize the City Manager or his designee to execute any applications, agreements, or any other related documents and take any other actions necessary to complete the funding reallocation process, subject to the approval of the City Attorney as to form and legality.