Laserfiche WebLink
<br />" <br /> <br />" <br /> <br />~ <br />~HILLS <br /> <br />MEMORANDUM <br /> <br />DATE: <br /> <br />February 21,2007 <br /> <br />AGENDA ITEM 4E <br /> <br />TO: Honorable Mayor and City Council <br />Michelle Wolfe, City Administrator <br /> <br />FROM: Sue Iverson, Finance Director~ <br /> <br />SUBJECT: Final Payment to Ramsey County for Joint Public Works Facility <br /> <br />BACKGROUND <br /> <br />In 2003, the City of Arden Hills entered into a Joint Agreement for Financing, Operations, and <br />Use of the Ramsey County Public Works/Partners Facility. This agreement was between <br />Ramsey County, Mounds View School District and the City of Arden Hills. Work started on the <br />facility in August of2003, The original budget for the facility was $30,443,461, of which <br />$2,387,514 was allocated to the City of Arden Hills. Per the agreement, the City made quarterly <br />payments of$I,790,636, with the balance due upon substantial completion. $596,879 was set up <br />in a contracts payable account in 2004. <br /> <br />DISCUSSION <br /> <br />The City has now received the final billing from Ramsey County. Total construction costs for <br />the facility were $27,733,713 vs. the budgeted costs of$30,433,461. This results in a savings of <br />$2,709,748, of which $255,131 is allocated to the City of Arden Hills. <br /> <br />FINANCIAL IMPLICATIONS <br /> <br />The amount that was reserved for these costs in the PIR capital fund is $596,879. The final bill <br />to Ramsey County is $341,747.50. The difference is $255,131.50 which is now available to <br />allocate to other capital improvements. <br /> <br />CITY STAFF RECOMMENDATION <br /> <br />Motion to approve payment to Ramsey County in the amount of$341,747.50 for the final <br />payment of the City of Arden Hills share of the Ramsey County Public W orkslPartners Facility. <br />