Title
Capital Project Ordinance Amendment- Park and Recreation
Action
ACTION:
Amend the 2018 Park and Recreation Capital Project Ordinance to increase the budget for Discovery Place to $42,354,589.
Staff Contact: David Boyd, CFO
Presentation: No
BACKGROUND/JUSTIFICATION:
In June 2019, Mecklenburg County and Discovery Place, Inc. executed an agreement wherein the County agreed to provide $16,000,000 to fund the design and construction of a new building and site improvements for Discovery Place.
Based upon the recent receipt of bids, the total cost of this project has increased to $42,354,589.
At the December 5, 2023 meeting, the Board of County Commissioners approved an additional contribution of $10,000,000 in County funds for the Discovery Place project. Discovery Place has agreed to contribute the remaining $16,354,589 needed to complete the project.
PROCUREMENT BACKGROUND:
N/A
POLICY IMPACT:
N/A
FISCAL IMPACT:
The County has previously allocated $16,000,000 to the Discovery Place project. The County will provide an additional $10,000,000 in funding to complete this project. Discovery Place will reimburse the County in the amount of $16,354,589 per the terms of the attached agreement.