HomeMy WebLinkAboutVIII-11 Approve Budget Amendment - City Hall Dome & HVAC Project Budget
To: Mayor Fasbender & City Councilmembers
From: Chris Eitemiller, Finance Manager
Date: August 19, 2024
Item: City Hall Dome/HVAC Project Budget
City Council Memorandum
Council Action Requested:
Approve resolution authorizing the amended budget for the City Hall Dome/HVAC Project.
Background Information:
To obtain reimbursement from the state of MN for grant-eligible expenses spent on this project, the City is
required to provide the exact amount of City contribution expected to complete the financing package for
the project. The total cost of the project has risen to $5,018,977 from $3,396,842.
Financial Impact:
The City’s share of remaining costs will be $2,498,799. This will consist of the remaining balance from
our American Rescue Plan Act allocation ($2,087,638), plus $411,161 from the 2024 bond issue. Should
costs increase any further, up to $600,000 of bond proceeds would be available.
Committee Discussion:
N/A
Attachments:
• Updated resolution to adopt project budget
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WHEREAS, the City has a need to restore the City Hall Dome, as well as other related capital
needs; and
WHEREAS, the City has received a $2 million State GO Bond grant for repairs, construction
and other capital improvements necessary for renovation of the historic City Hall in Hastings. This
appropriation includes money for repairs of the dome and roofing, HVAC improvements, repairs to the
interior walls and exterior masonry of the building, site regrading and project management; and
WHEREAS, the City also received a $212,187 Historical Society grant to help fund this project;
and
WHEREAS, the City spent $307,991 of City general revenues between 2018 and 2021 for masonry
restoration and pre-design costs; and
WHEREAS, on the City has $2,087,638 million available of the City’s American Rescue Plan
Act allocation to fund much of the estimated remaining project balance; and
WHEREAS, the City Council has approved the 2024 bond issuance plan that includes $600,000
to fund the estimated remaining balance of this project.
WHEREAS, the City has the financial capability to provide any required funds necessary to fund
any cash shortfalls in this project and that the source of City’s funds for this purpose shall be the City's
general fund.
NOW, THEREFORE BE IT RESOLVED, by the City Council of the City of Hastings,
Minnesota; that the City Hall Dome/HVAC Project’s Budget is hereby amended as follows:
CITY OF HASTINGS
DAKOTA COUNTY, MINNESOTA
RESOLUTION ____________
A RESOLUTION AUTHORIZING THE BUDGET FOR
THE CITY HALL DOME/ HVAC PROJECT
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SOURCE AND USE OF FUNDS FOR THE DOME PROJECT
Source of Funds
State GO Bond Funds 2,000,000
MN Historical Society Grant 212,187
City General Revenues (2018-19) 282,555
City General Revenues (2020-21) 25,436
Final City Contribution 2,498,799
Total Funding 5,018,977
Use of Funds
Masonry Restoration 494,742
Pre-design & Design Costs 149,800
Construction 4,374,435
Total Project Costs 5,018,977
And the estimated project budget is hereby adopted at $5,018,977.
Adopted this 19th day of August 2024.
Mary Fasbender, Mayor
Attest:
Kelly Murtaugh, City Clerk
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