Title
Agenda Item:
Appropriation of Funds for Hands On Children's Museum Project
Body
Issue:
Appropriate $59,518 from the Hands On Children's Museum (HOCM) for the HOCM Project.
City Manager's Recommendation:
Move to approve on second reading the attached appropriation ordinance in the amount of $59,518 from the Hands On Children's Museum for the Hands On Children's Museum Project.
Staff Contact:
Jay Burney, Assistant City Manager, 360.753.8740
Presenter(s):
Jay Burney, Assistant City Manager
Background and Analysis:
[This is the same Background and Analysis information as the 1st reading report on the Council's September 17 agenda]
The City's committed share of costs for the HOCM project from Public Facilities District (PFD) and Lodging Tax funds is $8.9 million. All costs over and above the City's commitment are the responsibility of the Hands On Children's Museum. Council previously appropriated $215,000 to cover expected overages. As the project is reaching completion, new estimates show that the expected overage is approximately $274,518. Attachment 1 includes a $59,518 appropriation from HOCM to cover additional costs incurred by the City in excess of the $8.9 million in funding committed by the City and the PFD to the project.
Neighborhood/Community Interests (if known):
N/A
Options:
1. Move to approve on second reading the attached appropriation ordinance in the amount of $59,518 from the Hands On Children's Museum for the Hands On Children's Museum Project.
2. Do not approve the attached appropriations ordinance and provide guidance to staff on next steps.
Financial Impact:
Approximately $274,518 in funding is being provided by the Hands On Children's Museum to cover costs incurred by the City in excess of the City and Public Facilities District (PFD) $8.9 million commitment to the project. $215,000 of the funds were previously appropriated by Council. This appropriation represents the balance of the expected...
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