HomeMy WebLinkAbout4.09 DoughertyRdImprovP
O CITY CLERK
File # 1:114VIld-zld
AGENDA STATEMENT
CITY COUNCIL MEETING DATE: May 3, 2005
SUBJECT: Budget Change for the Dougherty Road Improvements -
Houston Place to I-580 Capital Improvement Project (CIP)
Report Prepared by: Melissa Morton, Public Works Director
ATTACHMENTS:
1) Budget Change Form
2) Location Map
RECOMMENDATION: Approve budget change in the amount of $2,244,800 for right-of-
way acquisition costs for the Dougherty Road Improvements —
Houston Place to I-580 CIP project.
FINANCIAL STATEMENT: Right-of-way costs will be paid for through traffic impact fees which
have already been collected.
DESCRIPTION: The Fiscal Year 2004-2005 budget for the Dougherty Road
Improvements — Houston Place to I-580 CIP project was to pay for improvement plan design and
necessary right-of-way acquisitions. Recent appraisals for right-of-way elements (land, buildings,
severance damages, relocation, fixtures and equipment) have resulted in much higher costs than were
previously estimated. It is anticipated that an additional $2,208,158 will be needed for land acquisition
and relocation costs. These increased costs are due to higher recent land sales in the area, a relatively low
depreciation rate of the buildings to be acquired, and higher relocation costs. Goodwill for the relocation
of businesses is not included in the appraisals as this can only be calculated after a business has been
relocated and if there is, in fact, a loss of revenue due to the new relocation of the business.
The new estimate assumes that the City will be able to relocate four businesses currently located on the
southeast corner of the Dublin Boulevard/Dougherty Road intersection. Staff is continuing to pursue
relocation sites for these businesses. The new budget estimate also requires an additional $36,642 for
additional staff charges anticipated in Fiscal Year 2004-2005.
This budget change assumes that all of the properties are purchased in Fiscal Year 2004-2005, or that the
properties have been condemned and that the property owners remove condemnation funds from the State
condemnation deposit fund this Fiscal Year. Where the property escrows do not close, the remaining
budgeted monies will be carried over to Fiscal Year 2005-2006.
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COPIES TO:
ITEM NO. / •9
GANUSCPROADougherty Rd Imp - Houston to I-580\Right of Way\agst Budget Change ROW 050305.doc 1
Staff has made offers to'five property owners and one tenant within the existing budget. The remaining
offers to four property owners and three tenants will be made once this budget change has been approved.
Staff recommends that the City Council approve a budget change in the amount of $2,244.800 for right- .
of-way acquisition costs for the Dougherty Road Improvements - Houston Place to 1-580 CIP project.
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CITY OF DUBLIN
BUDGET CHANGE FORM
I VV 2--
CHANGE FORM #
New Appropriations (City Council Approval Required):
Budget Transfers:
From Unappropriated Reserves
(If Otber tban General Fund, Fund No -
X From New Revenues
From Budgeted Contingent Reserve (10800-799,000)
Within Same Department ActivÜy
Between Departments (City Council Approval Required)
Other
Name:
Name: Dougherty Road Improvements
Houston Place to 1-580 (Sta ' costs)
$ 36,642
Account #:
Name;
Account #:
Name:
Account #;
Name;
Account #:
Name:
Account #:
ASD/Fin Mgr
r --\~, k
-
Account #: 300,96852,701.001
Name: Dougherty Road Improvements
Houston Place to 1-580 (right-of-way)
$2,208,158
Account #: 300,96852,750,010
Name:
Account #:
Name:
Account #:
Name:
Account #:
~
Date: '-1 \ V, Ic'j
Signature
REASON FOR BUDGET CHANGE ENTRY: To fund additional right-of-way acquisition costs based on
recent appraisals. The revenues will come ftom the Eastern Dublin Traffic Impact Fee and the Downtown
Traffic Impact Fee.
City Manager:
Mayor:
Posted By:
Date:
Signature
As approved at the City Council Meeting on: Date:
Date:
Signature
Date:
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