Reallocation of State of Good Repair Capital Funding

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The decision

2019-06-13 · Board of Directors of TO Live · adopted

As filed

The Board of Directors of TO Live: 1. Approved the increased budget and all related purchase orders and/or tender awards by $1,133,000 for the capital project "Replace Roofs: Mezzanine/Stage Tower" (CHU008-03) from $469,247 to $1,602,247 pending the implementation of Recommendation 3 below. 2. Approved the increased funding of $1,133,000 for the capital project "Replace Roofs: Mezzanine/Stage Tower" (CHU008-03) by reducing funding to the Sony Door Replacement project (CHU008-05) by $1,133,000 pending the implementation of Part 3 below.

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3. Directed the President and Chief Executive Officer, TO Live to work with City staff to submit the reallocation request for approval at the June 18, 2019 City Council meeting.

On the agenda

As the city filed it

The purpose of this report is to seek the Board's approval to increase the budget for one previously scheduled capital project. Funding for this project will come from the reallocation of a previously approved stage of good repair project.

Staff recommended

The Audit Committee recommends that the Board of Directors of TO Live: 1. Approve the increased budget and all related purchase orders and/or tender awards by $1,133,000 for the capital project "Replace Roofs: Mezzanine/Stage Tower" (CHU008-03) from $469,247 to $1,602,247 pending the implementation of Recommendation 3 below. 2. Approve the increased funding of $1,133,000 for the capital project "Replace Roofs: Mezzanine/Stage Tower" (CHU008-03) by reducing funding to the Sony Door Replacement project (CHU008-05) by $1,133,000 pending the implementation of Recommendation 3 below.

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