2008/08/06 Council Agenda Packet

EVERETT CITY COUNCIL AGENDA ITEM COVER SHEET kat PROJECT TITLE: Consent COUNCIL BILL# C S01-C An ordinance creating a special Action Originating Department Engineering improvement project entitled 7/23/08 First Reading Contact Person Dave Davis "41St Street Extension and 7/30/08 Second Reading Phone Number (425) 257-8942 Roundabout,"Fund 308, 8/6/08 Third Reading FOR AGENDA OF July 23, 2008 Program 002, to accumulate all Public Hearing costs for the improvement Initialed by: project and repealing Department Head Ordinance No. 3000-07. CAA Council President 4 Location Preceding Action Attachments Department(s) Approval Riverfront Development 7/9/08 Budget Ordinance Finance Committee Amount Budgeted $1,240,000.00 Expenditure Required $10,400,000.00 Account Number(s): RD3310 Budget Remaining - 0 - Additional Required $9,160,000.00 DETAILED SUMMARY STATEMENT: This ordinance will create a special fund to accumulate all costs for the design and construction of the 41st Street Extension and Roundabout for the Riverfront Development. This project, identified in the Property Disposition Agreement,will construct a roundabout and extend 41st Street to provide access to the former Simpson site. This ordinance recognizes the receipt of the land sale funds as an additional source of funds for this project. The funding sources for this program include land sale and bond proceeds. RECOMMENDATION (Exact action requested of Council): Adopt the proposed ordinance creating a special improvement project entitled"41St Street Extension and Roundabout,"Fund 308,Program 002,to accumulate all costs for the improvement project and repealing Ordinance No. 3000-07. J