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DATE SUBMITTED: October Tl, 2006
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BILL #
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AGENDA BILL
CITY OF BREMERTON
CITY COUNCIL
........................................................................................
SUBJECT: Budget Adjustment Related to
the Harborside Park Annex Building
Committee Meeting Date: November 8, 2006
COUNCIL MEETING Date: November 15,2006
Department: Economic Developmnt.
Presenter: Gary Sexton
Phone: 360-473-5282
SUMMARY: The Harborside Park-and Memorial Naval Museum project includes the construction
of an annex building to the Naval Museum (Building 50). The annex is designed to provide overflow
and support services for the existing City Conference Center - with a ~arming kitchen and additional
conference/meeting room space. In order to construct and equip the facilities adequately to perform
these functions - additional funding in the amount of $250,000 will be necessary. The Kitsap
Conference Center Construction Fund is in the process of being wrapped up and the majority of
residual funds were transferred at the end of 2005 to the General Capital Improvement Fund. The
balance of those funds is $410,088.43 which have been designated as "r~stricted" - requiring Council
action to initiate expenditures. These residual funds represent interest revenues earned on the fund
balances during the life ofthe project and remaining proceeds received from the sale of the hotel and
restaurant pad which were the last funding sources used in the construction process. Staff is
recommending that $250,000 of the residual funds set aside in the General Capital Improvement Fund
be approved for usage in constructing and equipping the annex building for the purpose of providing
additional conference center facilities and support.
ATTACHMENTS:
FISCAL IMP ACTS (Include Budgeted_Amount): The budget for 2006 requires amendment to
authorize the transfer of $250,000 from the General Capital Improvement Fund to the Harborside Park
Construction Fund and to authorize additional expenditures in the Harborside Project budget for these
purposes. Funds are available for this purpose in the General Capital Improvement Fund from the
residual Conference Center Construction Funds which have been placed there pending further review
and Council action.
APPRO V ALS:
DEPARTMENT DIRECTOR:
CITY ATTORNEY:
FINANCE DIRECTOR:
MA YOR:
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FISCAL/BUDGET:
OPERATIONS:
COUNCIL PRESIDENT:
CONSENT AGENDA tr
RECOMMENDED MOTION: Move to approve a 2006 budget amendment and transfer
of $250,000 from the 0eQ.eral Capital Improvement Fund to the Harborside Park Construction Fund
and to authorize expenditure of these funds for the purpose of constructing and equiping the annex
building to further support t~ity's Confere~ce Center operations. 0 . I ' .
COUNCIL ACTION: [;1Apptove 0 Deny 0 Table 0 Contmue 0 No Action