Title
Resolution amending the Fiscal Year 2011-2012 annual budget, authorizing a transfer of funds from the General Fund Reserves into the General Improvements Capital Projects Fund, authorizing an appropriation of funds for certain landscaping and streetscape improvements and further appropriating funds pursuant to the UM Development Agreement.
Body
This Resolution amends the 2011-2012 Annual Budget, authorizes a transfer of funds in the amount of $460,000 from the General Fund Reserves to the General Improvements Capital Projects Fund and authorizes an appropriation of funds in the amount of $460,000 for certain streetscape improvement projects. Additionally, this item authorizes an appropriation of funds pursuant to the UM Development Agreement in the amount of $100,000.
The projects that will be funded with this budget amendment are as follows:
1. Ponce de Leon Boulevard Landscaping Improvement Project - This project, at a cost of approximately $240,000, would upgrade and beautify the landscaping areas parallel to the street and adjacent to the sidewalk along Ponce de Leon Boulevard from Almeria Avenue to Salamanca Avenue. The existing deteriorating palm trees, ground cover, and non-functional irrigation system will be replaced.
2. LeJeune Road Landscaping Improvement Project - This project, at a cost of approximately $220,000, would replace the existing painted asphalt islands in the center of LeJeune Road with new landscaped islands including trees, ground cover plantings and irrigation system from Altara Avenue to Zamora Avenue.
Ponce de Leon Boulevard Median Landscaping Improvement Project - This project replaces trees that have either been destroyed by hurricanes, disease, or other causes over the past several decades along Ponce de Leon Boulevard from Red Road to LeJeune Road. Pursuant to the UM Development Agreement, the University of Miami is providing $100,000 for their portion of the project.