ORD-2011-007 Fiscal Year 2010-11 Budget Ordinance Amendment #7

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4 Twin Creeks (Moniese Nomp) Park (Phase 1) 6. On December 7, 2009, the Board of County Commissioners approved a resolution required by the North Carolina Department of Transportation ( NCDOT) in order for the County to receive reimbursement funds up to $429,457 in American Recovery and Reinvestment Act of 2009 funds for Orange County's eligible expenses for construction of the Twin Creeks Greenway project. To date, the County has received $161,333 in reimbursement funds from the NCDOT related to this project. This budget amendment provides for the budgeting and receipt of up to $429,457 in American Recovery and Reinvestment Act of 2009 funds, and amends the Twin Creek Capital Project as follows: Twin Creeks Project: (Project #20003) Revenues for this nroiect: Annronriated for this Droiect: FY 2010 -11 Current Budget FY 2010 -11 Amendment FY 2010 -11 Revised Alternative Financing $100,000 $0 $100,000 2001 Bonds $550,000 $0 $550,000 NCDOT Funds $0 $429,457 $429,457 Other 1 $900,000 $0 $900,000 Total Project Funding $1,550,000 $429,457 $1,979,457 Annronriated for this Droiect: FINANCIAL IMPACT: Financial impacts are included in the background information above. RECOMMENDATION(S): The Manager recommends the Board of County Commissioners approve budget, grant, and capital project ordinance amendments for fiscal year 2010 -11. FY 2010 -11 Current Budget FY 2010 -11 Amendment FY 2010 -11 Revised Twin Creeks Project $1,550,000 $429,457 $1,979,457 Total Costs $1,550,000 $429,457 $1,979,457 FINANCIAL IMPACT: Financial impacts are included in the background information above. RECOMMENDATION(S): The Manager recommends the Board of County Commissioners approve budget, grant, and capital project ordinance amendments for fiscal year 2010 -11.