HomeMy WebLinkAbout04/05/1994, C-12 - PRADO ROAD PROJECT STUDY REPORT (PSR) ����i�II I�IIIIIIIIII HHII uul�l f MEETI ,ATE:
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5. 1994
COUNCIL AGENDA REPORT Imo"" NUMBER2
FROM: Michael McCluskey, Director of Public Works
SUBJECT: Prado Road Project Study Report (PSR)
CAO RECOMMENDATION:
By motion, transfer $37,500 from the balance remaining in the project budget for the Los
Osos Valley Road/101 Signal Project to the project budget for the Prado Road Project Study
Report
DISCUSSION:
The City Council has previously approved the solicitation of proposals for the development of a
Project Study Report for the future Prado Road interchange. The City Administrative Officer was
authorized to award the contract to the best qualified consultant, assuming the cost of such services
was less than $75,000. This dollar amount was arrived at by the amount of grant made available to
the City from SLOCOG, as the City's regional funding of State Transportation Planned fund. The
grant was made by SLOCOG on the basis that the original project would be 50% funded by
SLOCOG and 50% funded by the City. Original indications were that the funding amounts were
guaranteed by SLOCOG and any amounts above $75,000 were to be provided by the City.
Subsequent dialogue has clarified that the intent of the grant was a full 50% participation, regardless
of cost of the PSR.
It is anticipated that the remaining expenditure of funds for the project report, preparations of plans
and specifications, and project construction will be paid for by private funding sources and not via
use of general fund reserves. Completion of the project study report will allow the alignments of
the road system to the mall expansion project to be finalized, and project transportation mitigation
measures to be calculated. This in turn will allow formal decision making processes of the mall
project to proceed.
Should the overall cost of the project study report exceed $75,000, staff would still return to the City
Council for formal approval of the project and resolution of additional funding needs.
FISCAL IMPACT:
Funding for the City's 50% share of the PSR is available from the previously completed traffic
signalization project at the intersection of Highway 101 and Los Osos Valley Road. It is proposed
that $37,500 of the remaining $102,000 be transferred to the PSR project account. Should the
ultimate cost of the study exceed $75,000, additional Council action will be required. It is anticipated
that City funds expended on the PSR will be fully recovered, via the financing mechanism ultimately
chosen to fund construction of the interchange.
psrappro/mm2