Title
Appropriate Funds from the Historic Landmarks Commission (HLC) Revolving Fund
Action
ACTION:
Appropriate $537,900 in HLC Revolving funds to be used for structural repairs on the Torrence-Lytle School Building, 14000 Holbrooks Road, Huntersville.
Staff Contact: Stewart Gray, Director, Historic Landmarks
Presentation: No
BACKGROUND/JUSTIFICATION:
The Torrence-Lytle School Building, owned by the Historic Landmarks Commission, has suffered significant deterioration. These repairs are needed to secure the building for future adaptive reuse. Repairs should prevent increased deterioration.
The appropriation of $537,900 includes a $479,000 base bid, a $10,000 contingency allowance, and $48,900 (10% of the project cost) for any additional work needed to secure the buildings or make additional needed repairs discovered during the project.
PROCUREMENT BACKGROUND:
N/A
POLICY IMPACT:
N/A
FISCAL IMPACT:
Reduction of $537,900 to the Revolving fund balance.