HomeMy WebLinkAbout85-18 RESOLUTION113 West Mountain Street
Fayetteville, AR 72701
(479)575-8323
Resolution: 85-18
File Number: 2018-0169
LAND SALE PROCEEDS (RESOLUTION 78-18):
A RESOLUTION TO APPROVE A BUDGET ADJUSTMENT IN THE AMOUNT OF $5,000.00
ALLOCATING FUNDS FROM THE SALE OF CITY PROPERTY AT THE NORTHWEST CORNER
OF RAZORBACK ROAD AND SLIGO STREET TO THE CATO SPRINGS TRAIL LIGHTING
PROJECT
WHEREAS, the 0.1 -acre parcel at the northwest corner of Razorback Road and Sligo Street recently sold
by the City, pursuant to Resolution No. 78-18, was originally acquired using federal -aid funds; and
WHEREAS, federal law restricts the use of the proceeds from the sale of this land to only other federal -
aid projects.
NOW, THEREFORE, 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 to this Resolution, in the amount of $5,000.00 allocating the
proceeds from the sale of 0.1 acres of City property at the northwest corner of Razorback Road and Sligo
Street to the Cato Springs Trail Lighting Project, an eligible federal -aid project.
PASSED and APPROVED on 4/3/2018
Attest:
Sondra E. Smith, City Clerk Treasufgmillrrrg,
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City of Fayetteville, Arkansas 113 West Mountain Street
Fayetteville, AR 72701
(479) 575-8323
I
Text File
File Number: 2018-0169
Agenda Date: 4/3/2018 Version: 1 Status: Passed
In Control: City Council Meeting File Type: Resolution
Agenda Number: A. 6
LAND SALE PROCEEDS (RESOLUTION 78-18):
A RESOLUTION TO APPROVE A BUDGET ADJUSTMENT IN THE AMOUNT OF $5,000.00
ALLOCATING FUNDS FROM THE SALE OF CITY PROPERTY AT THE NORTHWEST CORNER
OF RAZORBACK ROAD AND SLIGO STREET TO THE CATO SPRINGS TRAIL LIGHTING
PROJECT
WHEREAS, the 0.1 -acre parcel at the northwest corner of Razorback Road and Sligo Street recently sold by
the City, pursuant to Resolution No. 78-18, was originally acquired using federal -aid funds; and
WHEREAS, federal law restricts the use of the proceeds from the sale of this land to only other federal -aid
projects.
NOW, THEREFORE, 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 to this Resolution, in the amount of $5,000.00 allocating the proceeds from the sale
of 0.1 acres of City property at the northwest corner of Razorback Road and Sligo Street to the Cato Springs
Trail Lighting Project, an eligible federal -aid project.
City of Fayetteville, Arkansas Page 1 Printed on 4/4/2018
City of Fayetteville Staff Review Form
20180169
Legistar File ID
4/3/2018
City Council Meeting Date - Agenda Item Only
N/A for Non -Agenda Item
Matt Mihalevich 3/12/2018
Submitted By Submitted Date
Action Recommendation:
DEVELOPMENT SERVICES (620)
Division / Department
Staff recommends approval of a budget adjustment in the amount of $5,000 to allocate funds from the sale
authorized by resolution 78-18 of 0.1 acres of land at the Northwest corner of Razorback Road and Sligo Street to
the Cato Springs Trail Lighting Project.
Budget Impact:
4470.800.8830-5814.05
Account Number
02016.1801
Project Number
Sales Tax Cap Imp
Fund
Cato Springs Trail Lighting
Project Title
Budgeted Item? Yes
Current Budget
$
350,000.00
Funds Obligated
$
-
Current Balance
$
350,000.00 J
Does item have a cost? No
Item Cost
$
-
Budget Adjustment Attached? Yes
Budget Adjustment
$
5,000.00
Remaining Budget
$
355,000.00
i
Previous Ordinance or Resolution # 78-18
V20140710
Original Contract Number:
Comments:
Approval Date:
CITY OF
FAYETTEVILLE
%PF ARKANSAS
MEETING OF APRIL 3RD, 2018
TO: Mayor and City Council
THRU: Don Marr, Chief of Staff
Terry Gulley, Transportation Services Director
Chris Brown, City Engineer
FROM: Matt Mihalevich, Trails Coordinator
DATE: March 12th, 2018
SUBJECT: 2018-0169 Land Sale Proceeds (Res. 78-18)
CITY COUNCIL MEMO)
RECOMMENDATION:
Staff recommends approval of a budget adjustment in the amount of $5,000 to allocate funds
from the sale authorized by resolution 78-18 of 0.1 acres of land at the Northwest corner of
Razorback Road and Sligo Street to the Cato Springs Trail Lighting Project.
BACKGROUND:
The sale of 0.1 acres of city owned land at the Northwest corner of Razorback Road and Sligo
was approved by resolution 78-01. This land was originally purchased using federal -aid funds
associated with the Razorback Road widening project. Since federal -aid funds were involved,
the proceeds from the sale are required to be applied to another federal -aid project.
In 2017, the City of Fayetteville received a Transportation Alternatives Program federal -aid
grant in the amount of $280,000 for the installation of lighting along Cato Springs Trail. This
grant was approved by resolution 01-18.
DISCUSSION:
The Cato Springs Trail Lighting project is an eligible federal -aid project for the land sale
proceeds to be applied. Installation of lighting is slated to begin in Fall of 2018.
BUDGET/STAFF IMPACT:
The proceeds from the sale of land in the amount of $5,000 will applied to the Cato Springs Trail
Lighting Project.
Attachments:
Cato Springs Trail Lighting Map
Budget Adjustment
Mailing Address:
113 W. Mountain Street www.fayetteville-ar.gov
Fayetteville, AR 72701
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City of Fayetteville, Arkansas - Budget Adjustment Form (Legistar)
Budget Year Division Adjustment Number
/Org2 DEVELOPMENT SERVICES (620)
2018
Requestor: Matt Mihalevich
BUDGET ADJUSTMENT DESCRIPTION / JUSTIFICATION:
Resolution 78-18 authorized the sale of 0.1 acres of land at the Northwest corner of Razorback Road and Sligo Street. In
order to comply with Federal land sale requirements, staff is requesting $5,000 from the sale of land be placed on the
Cato Springs Trail Lighting Project, which is another Federally funded project.
RESOLUTION/ORDINANCE
COUNCIL DATE:
LEGISTAR FILE ID#:
4/3/2018
2018-0169
K.evi vwSpv&ngev'
3/13/2018 12:02 PM
Budget Director Date
TYPE:
DESCRIPTION:
GLDATE:
POSTED:
TOTAL 5,000 5,000 v.20180119
Increase / (Decrease) Project.Sub#
Account Number Expense Revenue Project Sub AT Account Name
4470.001.9470-4881.02 5,000 02016 1801 RE Gain/Loss - Sale of Assets - Gain/Loss - Sa
4470.800.8830-5814.05 5,000 02016 1801 EX Sidewalk/Trails -Trails
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