HomeMy WebLinkAbout7/19/2022 Item 6g, Horn / Moore - Staff Agenda CorrespondenceCity of San Luis Obispo, Council Memorandum
Council Agenda Correspondence
DATE: July 19, 2022
TO: Mayor and Council
FROM: Matt Horn, Public Works Director
Shelsie Moore, Supervising Civil Engineer
VIA: Derek Johnson, City Manager
SUBJECT: ITEM 6g – AUTHORIZATION TO ADVERTISE CHENG PARK
REVITALIZATION PROJECT, SPECIFICATION NO. 91385-10
Staff received the following questions, regarding the Cheng Park Revitalization Project.
The questions are listed below with staff’s response in italics:
1) Question: Why is the San Luis Greenway item and funding being mentioned
in this staff report?
On page packet page 115, there is the following footnote:
“1The Capital Reserve Fund’s current balance is $2,901,708 to support this request
of $200,000. Concurrent with this request is a request to support the Cerro San
Luis Greenway project with a funding amount of $1,000,000 from the Capital
Reserve Fund account. If Council approves both this project’s funding request and
the Cerro San Luis Greenway project funding request the Capital Reserve Fund
will have a balance of $1,701,708 to support future needs.”
Additionally, in the Project Account Summary Table the Cerro San Luis Greenway
Capital Reserve Fund Request is mentioned.
The footnote and Fiscal Analysis section of the report are intended to show that
staff have reviewed all concurrent requests for funding from the Capital Reserve
Fund Balance and there is sufficient funding to support both projects.
2) Question: Should the balance listed in the Resolution for the Capital Projects
Reserve Fund balance be listed as $1.7 million?
The balance of $1.9 million listed in the Resolution is the approximate balance of
the CIP Reserve Account prior to the allocation of funding from the CIP Reserve
to this project’s account. This $1.9 million balance assumes that Council approved
the $1 million in funding requested from the CIP Reserve the for the Cerro San
Luis Greenway project. Both this project and the Cerro San Luis Greenway project
are on Council’s July 19, 2022, agenda and could likely be approved
simultaneously. The resolution will be updated as needed based upon Council
action on both projects.