HomeMy WebLinkAbout140-12 RESOLUTIONRESOLUTION NO. 140-12
A RESOLUTION APPROVING A BUDGET ADJUSTMENT IN THE
AMOUNT OF $85,300.00 REPRESENTING REVENUE FOR THE
INSTALLATION OF A TRAFFIC SIGNAL ON STEELE BOULEVARD AT
THE ENTRANCE TO THE MALCO THEATRE
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
FAYETTEVILLE, ARKANSAS:
Section 1: That the City Council of the City of Fayetteville, Arkansas hereby approves a
budget adjustment, a copy of which is attached as Exhibit "A", in the amount of $85,300.00
representing revenue for the installation of a traffic signal on Steele Boulevard at the entrance to
the Malco Theatre.
PASSED and APPROVED this 3rd day of July, 2012.
APPROVED:
B
ATTEST:
By: ,I n44,exa 6-,
SONDRA E. SMITH, City Clerk/Treasurer
City of Fayetteville, Arkansas
Budget Adjustment Form
V11.0425
Budget Year
2012
Division: Transportation Services
Department: Transportation Services
Request Date
7/3/2012
Adjustment Number
BUDGET ADJUSTMENT DESCRIPTION / JUSTIFICATION
Based on a traffic study the Planning Commission required contribution from developers for the cost of a traffic
signal at the Steele Blvd. entrance to Malco Theatre.
This budget adjustment recognizes revenue in the off-site improvements escrow account for the installation of this
traffic signal. (FA #6184)
Reference: LSD 06-1924; LSD 07-2478; LSD 12-4072
Prepared By: John Nelson
Reference:
Departrn t Dir- tor
l/ ;e iA
Fi a e Director
Budget & Research Use Only
Type: A BCD
General Ledger Date
Posted to General Ledger
Checked / Verified
TOTAL BUDGET ADJUSTMENT
Increase / (Decrease) ) Project Sub'
Account' Name' Account Number Expense Revenue Number."
Pyrntsby property owners 4470.0947.4420.00 85,300 02063; 1201
•
Fixed assets 4470.9470.5801.00 85,300 02063: 1201
K:\01_Financial Services\Budget\2012 Budget\Transportation\Budget Adjustments\BA Form 2012_02063.1201 1 of 1
John Nelson
Submitted By
City of Fayetteville Staff Review Form
City Council Agenda Items
and
Contracts, Leases or Agreements
7/3/2012
City Council Meeting Date
Agenda Items Only
Transportation
Division
Action Required:
Transportation Services
Department
A resolution approving a budget adjustment in the amount of $85,300 recognizing revenue for the installation of a
traffic signal on Steele Boulevard at the Malco Theatre entrance.
85,300.00
Cost of this request
4470.9470.5801.00
Account Number
$
398,137.00
Category / Project Budget
Traffic Signal Improvements
Program Category / Project Name
93,598.00 Transportation Improvements
02063.1201 $
Project Number
Funds Used to Date Program / Project Category Name
304,539.00
Sales Tax Cap Imp
Remaining Balance Fund Name
Budgeted Item ( . 1 Budget Adjustment Attached
X
Department Dire
G'- //- /2
Date
ttorney
inance and Interna Services Director
Date
Date
Chief of tall
yor
Da e
Previous Ordinance or Resolution #
Original Contract Date:
Original Contract Number:
Received in t✓i`ty .l -12P03:09 R C V D
Clerk's Office
Comments:
Revised January 15, 2009
THE CITY OF FAYETTEVILLE, ARKANSAS
DEPARTMENT CORRESPONDENCE
www.accessfayetteville.org
CITY COUNCIL AGENDA MEMO
To: Mayor and City Council
Thru: Don Marr, Chief of Staff ��
Terry Gulley, Transportation Services Director ` 107i"
From: John Nelson, Management Accounting Coordinator
Date: June 7, 2012
Subject: Steele Boulevard/Malco Theatre Entry Traffic Signal
PROPOSAL:
A resolution approving a budget adjustment in the amount of $85,300 recognizing revenue for the installation of
a traffic signal on Steele Boulevard at the Malco Theatre entrance.
RECOMMENDATION:
Unified Development Code authorizes the Planning Commission to determine the necessity of on and off-site
improvements required of developers. The developer shares of the cost of infrastructure improvements are held
in an interest bearing account.
Traffic volume generated by the development of Malco Theatre, Marketplace Express, and Academy Sports and
recommendations of a traffic study by Peters & Associates Engineers, Inc. warrant the installation of a traffic
signal at the main entrance to these establishments on Steele Boulevard.
BUDGET IMPACT:
Installation of this traffic signal will be offset by revenue funds contributed by developers.
Reference: LSD 06-1924; LSD 07-2478; LSD 12-4072
RESOLUTION NO.
A RESOLUTION APPROVING A BUDGET ADJUSTMENT IN THE
AMOUNT OF $85,300.00 REPRESENTING REVENUE FOR THE
INSTALLATION OF A TRAFFIC SIGNAL ON STEELE BOULEVARD AT
THE ENTRANCE TO THE MALCO THEATRE
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
FAYETTEVILLE, ARKANSAS:
Section 1: That the City Council of the City of Fayetteville, Arkansas hereby approves a
budget adjustment, a copy of which is attached as Exhibit "A", in the amount of $85,300.00
representing revenue for the installation of a traffic signal on Steele Boulevard at the entrance to
the Malco Theatre.
PASSED and APPROVED this 3`d day of July, 2012.
APPROVED: ATTEST:
By: By:
LIONELD JORDAN, Mayor SONDRA E. SMITH, City Clerk/Treasurer