09-25-2012 CC RPT 15
City Council/Agency Reports
09-25-2012 CC RPT 15
9/28/2012 9:12:21 AM
9/20/2012 11:46:03 AM
General - Type
City Council Reports
09-25-2012 CC HA AGENDA
\City Council Agendas\2010-2019\2012
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REVISED <br /> rOF l�ZJVEKSIDE City Council Memorandum <br /> TO: HONORABLE MAYOR AND CITY COUNCIL DATE: September 25, 2012 <br /> FROM: GENERAL SERVICES DEPARTMENT ITEM NO: 15 <br /> WARD: 1 <br /> SUBJECT: SEIZING OUR DESTINY — FOX ENTERTAINMENT PLAZA — SUPPLEMENTAL <br /> APPROPRIATION AND FUNDS TRANSFER <br /> ISSUE: <br /> The issues for City Council consideration are: 1) approval of an increase to the project budget for <br /> the Fox Entertainment Plaza, and 2) authorize a supplemental appropriation to fund the additional <br /> work. <br /> RECOMMENDATIONS: <br /> That the City Council: <br /> 1. Approve an increase to the project budget for the Fox Entertainment Plaza by $2,550,000 to <br /> provide for a larger exhibit space, expanded black box theater, elevated entertainment plaza, <br /> architectural enhancements to the parking structure, and demolish and remove the existing <br /> Binding Building; <br /> 2. Authorize required funds transfers totaling $2,211,343 from the General Fund (101) and <br /> General Debt Service Fund (390) to the Parking Fund (570) in order to utilize the savings <br /> associated with the refunding of the 2003 Certificate of Participation for this project; <br /> 3. Authorize a supplemental appropriation in the amount of$2,296,948 to the Fox Entertainment <br /> Plaza Account No. 9847200-463400, which includes$85,605 from the unappropriated balance <br /> of the Parking Fund and $2,211,343 from the savings associated with the refunding of the <br /> 2003 Certificates of Participation; <br /> 4. Authorize the City Manager, or his designee, to take the necessary actions to implement the <br /> modified budget and approve a change order to the original Design-Build Agreement in the <br /> amount of $2,550,000; <br /> 5. Authorize the City Manager, or his designee, to execute all documents related to the <br /> transaction and to make minor, non-substantive changes, and <br />
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