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<br />CABARRUS COUNTY <br />BOARD OF COMMISSIONERS <br />AGENDA ITEM REQUEST <br /> <br />Agenda Item # r - B <br /> <br />Meeting Date 1/24/05 <br /> <br />SUBJECT: <br />Revision of the Construction and Renovation Budget in preparation for installment <br />financing of three projects. <br /> <br />BRIEF SUMMARY: <br /> <br />The construction contracts have been finalized for the following projects: upfit of the old <br />School Administration Building (RCCC Business Center); the design phase cost of <br />Building 3000 and the construction of a parking lot at RCCC South Campus. A budget <br />revision has been prepared to revise the original estimates with actual costs. These <br />projects will be funded by a $500,000 donation received from the Cannon Foundation and <br />$4,500,030 in Installment Financing to cover the remaining expenditures. This financing <br />was approved by the Board of Commissioners in February 2004. <br /> <br />REQUESTED ACTION: (Suggested motion if the Board approves the agenda item as presented) <br />Approve Budget Amendment <br /> <br />Attachments 1&1 Yes 0 No Expected Length of Presentation <br /> <br />Submitted By: Susan B. Fearrington/Asst. Finance Director Date: 1/10/05 <br /> <br />Name I Job Title <br /> <br />Budget Amendment Required: 1&1 Yes 0 No <br />Budget Amendment Attached and Reviewed by Budget Officer: ~ Yes 0 No <br /> <br />County Manager's Recommendations/Comments: <br /> <br />Approval is recommended. <br /> <br />Manager's Signature <br /> <br /> <br />Action Taken: <br />Approved [] <br />Denied [ ] <br /> <br />Deferred [] <br />Other [ ] <br /> <br />F-S <br />