Title
Discuss and consider action to approve a Pflugerville Community Development Corporation FY23 Budget Amendment in the amount of $820,000 for Impact Way extension construction costs.
Summary
The amendment is due to costs for construction in FY22 that were delayed or deferred to the FY23 budget. According to the PCDC bylaws, the corporation is required to make budget amendments on a quarterly basis as needed. All budget amendments must be forwarded each quarter for approval by the City Council.
The PCDC Board requests approval of an amendment to the Impact way/ROW expenditures currently budgeted at $700,000 to be increased by $820,000 for a total FY23 budget of $1,520,000. Actual FY23 Impact way/ROW expenditures to date are $1,373,609.
The Impact Way extension is complete and awaiting dedication to the City of Pflugerville following installation of street lights by Oncor.
Prior City Council Action
The FY23 PCDC Budget was approved (7-0) at the September 13, 2022 City Council meeting. This is the first amendment to this budget and was approved (7-0) by the PCDC Board on June 28, 2023 Regular Board Meeting.
Deadline for City Council Action
July 11,2023
Funding Expected: Revenue __ Expenditure X__ N/A __
Budgeted Item: Yes _X_ No __ N/A __
Amount: _$820,000
1295 Form Required? Yes __ No X
Legal Review Required: N/A X Required __ Date Completed: ___________
Supporting documents attached:
Budget Amendment Summary, Justification Summary and FY23 actual expenditure for Impact ROW summary.
Recommended Action
Staff recommends approval