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Bristol Street Improvements and Widening from Civic Center Drive to Washington <br />Avenue Project <br />September 17, 2024 <br />Page 5 <br />4 <br />5 <br />3 <br />7 <br />The proposed contract authorizes staff a maximum of 10% in contingencies for <br />construction contract change orders. Staff will return to City Council for authorization <br />and appropriation of additional contingency if necessary. <br />With the approval of the requested appropriation adjustment, a portion of the <br />accumulated fund balance will be appropriated for spending in the Select Street <br />Construction, Improvements Other Than Building Account (No. 05917661-66220), <br />Revenue appropriated to this account is derived from the sale of land acquired from <br />right-of-way acquisitions per procedures set by OCTA Bristol Corridor Improvement. <br />The sale of land portion of the fund balance is estimated to be $6,228,834 for Fiscal <br />Year 2024-25, which is sufficient to allow for the recommended appropriation. <br />Additionally, a portion of the accumulated fund balance will be appropriated for <br />spending in the New Transportation System Improvement Area F, Improvements Other <br />Than Building Account (No. 03517660-66220). The spendable portion of the fund <br />balance is estimated to be $1,226,165 for Fiscal Year 2024-2025, which is sufficient to <br />allow for the recommended appropriation of $1,200,000. <br />With the approval of the requested appropriation adjustment, $656,000 in Federal <br />Transportation Improvement Program (FTIP) DEMO grant funds will be recognized in <br />the Select Street Construction, Federal Grant-Indirect revenue account (05917002- <br />52001) and appropriated for spending in the Select Street Construction, Improvements <br />Other Than Building Account (No. 05917660-66220). (Exhibit 7) <br />The following table summarizes the funds budgeted for expenditure to deliver the <br />construction of this project: <br />Fiscal <br />Year <br />Accounting Unit <br />- Account No. <br />(Project No.) <br />Fund <br />Description <br />Accounting Unit, <br />Account No. <br />Description <br />Amount <br />CURRENT BUDGET <br />2024-25 03217663-66220 <br />(13-6792) <br />CTFP Grant – <br />Measure M <br />Street <br />Construction <br />Measure M2 <br />Competitive Street, <br />Improvements Other <br />Than Building <br />$5,239,044 <br />2024-25 05917660-66220 <br />(13-6792) <br />BCIP Grant – <br />Select Street <br />Construction <br />Select Street <br />Construction, <br />Improvements Other <br />Than Building <br />$793,760 <br />2024-25 03517660-66220 <br />(13-6792) <br />New <br />Transportation <br />System <br />New Transportation <br />System Improvement <br />$130,000 <br />  <br />  <br />City Council 16 – 5 9/17/2024