HomeMy WebLinkAboutOrdinance No. 2474-2010 Substitutethe c(17 ej
KENAI, ALASKA
CITY OF KENAI
ORDINANCE NO. 2474 -2010
SUBSTITUTE
Suggested by: Administration
AN ORDINANCE OF THE COUNCIL OF THE CITY OF KENAI, ALASKA, INCREASING
ESTIMATED REVENUES AND APPROPRIATIONS BY $4,775,516 IN THE LIBRARY
IMPROVEMENTS CAPITAL PROJECT FUND.
WHEREAS, the total cost of the proposed 10,000 square foot expansion of the Kenai
Library is $5,315,516; and,
WHEREAS, the City has previously appropriated
through the design phase and bid phase; and,
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540,000 to progress the project
WHEREAS, design and bidding of the project is complete with a total projected cost of
$5,315,516 including $240,000 in contingency; and,
WHEREAS, the City has received a Rasmuson Foundation Tier II Grant in the amount
of $1,500,000 for the project; and,
WHEREAS, the City has received 5415,000 in donations from the Friends of the Kenai
Community Library (the Friends) that includes $150,000 the Friends received from the
British Petroleum. Foundation; and,
WHEREAS, 5250,000 of additional funding is available from the City's Capital
Improvement Reserve Fund Balance; and,
WHEREAS, the City issued $2,000,000 in voter- authorized, General Obligation bonds
for the project; and,
WHEREAS, the City received a $4,000 grant from the WalMart Corporation for the
project; and,
WHEREAS, miscellaneous project revenue from sale of project plans has been received
in the amount of $2,911; and,
WHEREAS, the remaining 5603,605 for the project will come from Unreserved General
Fund Balance.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF KENAI,
ALASKA, that estimated revenues and appropriations be increased as follows:
Library Improvements Capital Project Fund
Increase Estimated Revenues:
Transfer In Debt Service Fund $2,000,000
Other Grants Rasmuson Foundation 1,500,000
Ordinance No. 2474 -2009 SUBSTITUTE
Page 2 of 2
Donations Friends of the Kenai Community Library 415,000
Donations WalMart Corporation 4,000
Miscellaneous Income 2,911
Appropriation of Designated Fund Balance 250,000
Appropriation of Unreserved Fund Balance 603,605
$4 775,516
Increase Appropriations:
Construction
PASSED BY THE COUNCIL OF THE CITY OF KENAI, ALASKA, this seventh day of
April, 2010.
ATTEST:
Carol L. Freas, City Clerk
Approved by Finance:
PAT PORTER, MAYOR
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$4,775,516
Introduced: March 17, 2010
Adopted: April 7, 2010
Effective: April 7, 2010
ale city of
KENAI, ALASKA
To: Rick Koch, City Manager
From: Terry Eubank, Finance Director
Date: April 1, 2010
Re: SUBSTITUTE Ordinance 2474 -2010
'Village with a Past, Ci y with a Fture"
FINANCE DEPARTMENT
210 Fidalgo Avenue, Kenai, Alaska 99611 -7794
Telephone: 907 283 -7535 ext 221 FAX: 907 283 -3014
Since introduction of Ordinance 2474 -2010, a number of anticipated events have occurred
requiring changes to the originally submitted ordinance prior to adoption. The events include
receiving construction bids, notification of a grant from the WalMart Corporation for $4,000,
notification of $185,000 in additional funding from the Friends of the Kenai Community Library
(that includes $150,000 donation from the British Petroleum Foundation), and receipt of $2,911
in miscellaneous project income. The substitute ordinance that has been prepared acknowledges
these now known factors.
The Library Expansion Project construction contract is scheduled to be awarded at this April 7,
2010 Council Meeting. The total construction bid, including all three additive alternates is
$4,178,516 with a total project budget of $5,315,516 including $240,000 in project contingency
that is to be paid from the 'following sources:
City of Kenai Unreserved Fund Balance 643,605
City of Kenai Capital Improvement Reserve Fund 500,000
Proceeds from Voter Authorized Bonds 2,000,000
Rasmuson Foundation Tier 11 Grant 1,500,000
Friends of the Kenai Library Donation (includes
$150,000 from the British Petroleum Foundation) 415,000
WalMart Corporation Donation 4,000
Miscellaneous Project Income 2,911
State of Alaska Legislative Grant 250,000
Total $5,315,516
To date, $540,000 has been appropriated to the project from the following sources:
City of Kenai Unreserved Fund Balance
City of Kenai Capital Improvement Reserve Fund
State of Alaska Legislative Grant
40,000
250,000
250,000
Toral $540,000
Substitute Ordinance 2474 -2010 appropriates the remaining funds for the project. It should be
noted that the appropriation of the additional $250,000 from the Capital Improvement Reserve
Fund will require five affirmative votes of the Council for passage.
Mr. Rick Koch, City Manager
City of Kenai
210 Fidalgo Avenue
Kenai, Alaska 99611
Dear Rick;
Friends of the Kenai Community Library
163 Main Street Loop
Kenai, Alaska, 99611
Re: Continued Support for Library Addition
March 31, 2010
This short memo will confirm the continued support of the Friends of the Kenai
Community Library in the successful completion of the addition to the Kenai Library.
To add to our previous donations of $230,000, the Friends are committing an
additional $35,000 from donations received for the library expansion.
This money is in addition to the recent pledge of $150,000 made to the Friends by
British Petroleum (BP). As soon as we receive the necessary financial data requested of
our accounting firm, we will submit all requested information to BP and proceed with
the necessary arrangements to receive the funds in a formal ceremony; likely at a
Kenai Chamber meeting.
Continued funding from sale of various support opportunities and scheduled events
conducted by the Friends will add to our support dollars throughout the completion of
this effort.
Sincerely,
Sal Mattero, President
Friends of the Kenai Community Library
Cc: Mary Jo Joiner Library Director