Page 406 - City of Bedford FY21 Budget
P. 406

CITY OF BEDFORD -   FY 20-21 CAPITAL PROJECT SUMMARY

     PROJECT:      Drainage              PROJECT TYPE: Drainage               FUNDING SOURCE(S):
     PROJECT TITLE: Drainage Improvements and Erosion Control                 Certificates of Obligation  $      158,195

      PROJECT DESCRIPTION:                                                    General Obligation        $       2,662,493
      A section of the concrete channel wall adjacent to Brookhollow Park, from Rankin                  $
      Drive to the pedestrian bridge, collapsed in February 2018 during heavy rain storms.
      Various other sections were also compromised. The project consists of the                         $
      reconstruction of approximately 400 linear feet of an existing channel. The project
                                                                                                        $
      was completed in July 2020.
                                                                                          TOTAL FUNDED $        2,820,688
      The project also consists of erosion control projects on Briar Drive, Shirley Way, Circle
                                                                                             UNFUNDED $         7,660,000
      Lane, Schumac Lane, Donna Lane, Brookwood Stream, Cheeksparger Road,
      Commerce Place, east of Hospital Parkway, Ashford Drive and Berkshire Lane.         PROJECT TOTAL $      10,480,688

           PROJECT COSTS        Thru                                                               FY 2026 to
          (amounts in 000s)    09/2020    FY 2021     FY 2022    FY 2023     FY 2024    FY 2025   Completion    Total
     Design                           -           -          -           -           -          -           -          -
     Land/Right-of-Way                -           -          -           -           -          -           -          -
     Construction              1,870,688   2,650,000  2,900,000   2,600,000    460,000          -           -  10,480,688

     Landscaping                      -           -          -           -           -          -           -          -
     Equipment & Furnishings          -           -          -           -           -          -           -          -
     Other                            -           -          -           -           -          -           -          -
           TOTAL COSTS          1,870,688   2,650,000  2,900,000   2,600,000   460,000          -           -   10,480,688
          SOURCE OF FUNDS       Thru                                                               FY 2026 to
          (amounts in 000s)    09/2020    FY 2021     FY 2022    FY 2023     FY 2024    FY 2025   Completion    Total
     Current Funds                    -           -          -           -           -          -           -          -

     GO Bonds Issued           1,870,688    791,805          -           -           -          -           -   2,662,493
     GO Bonds Unissued                -           -          -           -           -          -           -          -
     Certificates of Obligation       -     158,195          -           -           -          -           -    158,195
     Other                            -           -          -           -           -          -           -          -

     Unfunded                         -    1,700,000  2,900,000   2,600,000    460,000          -           -   7,660,000
           TOTAL COSTS          1,870,688   2,650,000  2,900,000   2,600,000   460,000          -           -   10,480,688
                        OPERATING BUDGET IMPACT
                                                                                   MAP/PHOTOGRAPH
         Will Impact                  Annual Cost/(Savings)
         Will Not Impact    Personnel   $
                            Operations  $
       # of Positions:      Capital     $
         Unable to quantify  Total      $
                          IMPACT EXPLANATION







         PROJECT SCHEDULE        START             FINISH
     Design                       2017              2020
     Land/Right-of-Way
     Construction                 2019              2024
     Finish Out
     Other
                                                             371
          TOTAL SCHEDULE          2017              2024
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