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Agenda Item: 15(d) |
Prepared By: Justin Martin, P.E., Director of Public Works |
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Business: City Council Item |
Department: Public Works |
Subject:
Title
Authorization to Transfer Funds from Unrestricted Reserves to the Capital Budget Account for the Collier Boulevard Alternate Bike Lanes Project. - Justin Martin, P.E., Director of Public Works
Body
BACKGROUND:
Construction of the Collier Boulevard Alternate Bike Lanes Project is 100% funded through a Florida Department of Transportation (FDOT) Local Agency Program (LAP) grant. The LAP grant is administered on a reimbursement basis; therefore, funds must be available in the project account to proceed with construction.
This item requests temporary funding to allow the project to move forward while reimbursement is pending. City Council awarded the construction contract for this project at the December 8, 2025 City Council meeting.
FUNDING SOURCE / FISCAL IMPACT:
Approval is requested to transfer $954,105 from Unrestricted Reserves to the Capital Budget Account for the Collier Boulevard Alternate Bike Lanes Project (Account No. 300-5400-5410-606300-24006). These funds will be used to cover project construction costs and will be fully reimbursed and returned to Unrestricted Reserves upon receipt of FDOT grant funds, which is expected within one year of construction commencement (by March 2027).
The current disposable balance of Unrestricted Reserves is approximately $4,250,000.
There is no long-term fiscal impact to the City.
RECOMMENDATION:
Staff recommends approval of the transfer of $954,105 from Unrestricted Reserves to the Capital Budget for the Collier Boulevard Alternate Bike Lanes Project to allow construction to proceed without delay.
POTENTIAL MOTION:
“I move to approve the transfer of $954,105 from Unrestricted Reserves to the Capital Budget Account 300-5400-5410-606300-24006 for construction of the Collier Boulevard Alternate Bike Lanes Project.”