Item - 2017.BU34.9
Tracking Status
- This item was considered by Budget Committee on September 5, 2017 and was adopted without amendment.
- See also EX27.24
BU34.9 - Adjustment to the 2017-2026 Capital Budget and Plan for Transportation Services: King-Liberty Pedestrian Bridge
- Decision Type:
- ACTION
- Status:
- Adopted
- Wards:
- All
Committee Decision
The Budget Committee recommends that:
1. City Council amend the 2017-2026 Approved Capital Budget and Plan for Transportation Services by changing the funding source from debt to the Development Charge Reserve Fund - Roads (XR 2110) for cash flow commitments of $4.800 million in 2018 for the King-Liberty Pedestrian/Cycling Bridge Project (CTP815-60).
2. City Council increase the 2017-2026 Approved Capital Budget and Plan for Transportation Services by $5.520 million gross and $0 debt in 2018 and $1.510 million gross and $0 debt in 2019 for cash flow commitments required for construction of the King-Liberty Pedestrian/Cycling Bridge Project (CTP 815-60), fully funded by the Development Charge Reserve Fund - Roads (XR 2110).
Origin
Summary
This report requests authority to amend the 2017-2026 Approved Capital Budget and Plan for Transportation Services by changing the funding source from debt to Development Charge Reserve Fund - Roads (XR 2110) for cash flow commitments of $4.8 million in 2018 for the King-Liberty Pedestrian/Cycling Bridge Project (CTP815-60). In addition, the report requests authority to increase the 2017-2026 Approved Capital Budget and Plan for Transportation Services by $5.520 million gross and $0 debt in 2018 and $1.510 million gross and $0 debt in 2019 for cash flow commitments to facilitate the construction of the King-Liberty Pedestrian/Cycling Bridge Project (CTP815-60). These additional costs will be fully funded by the Development Charge Reserve Fund - Roads (XR 2110).
Background Information
https://www.toronto.ca/legdocs/mmis/2017/bu/bgrd/backgroundfile-106317.pdf