MEMORANDUM
TO: Pete Sprague, Assembly President
Members, Kenai Peninsula Borough Assembly
THRU: Dale Bagley, Mayor
Scott Holt, Finance Director
FROM: Gary Davis, Road Service Director
DATE: June 24, 2004
SUBJECT: Resolution 2004-068;
Echo Lake Road STIP Match Funds
The Road Service Area board has previously allocated $170,000 toward the Echo Lake Road STIP project. This road has recently received a major re-paving/repair project, which negates the need to expend this amount of borough funds at this time. The current state ADOT policy requires a local municipality match to be eligible for state and federal funding on this road. The latest STIP program, 2004-2006, has this project scheduled for Phase 2 Design work in FY 2006. This Phase 2 Design estimate requires a $7,200 local municipal funding match.
This resolution rescinds the previous $170,000 allocation and allocates the $7,200 Phase 2 Design local match requirement.