AGENDA ITEM REPORT
TITLE:
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A RESOLUTION AMENDING THE NEIGHBORHOOD ENHANCEMENT GRANT AWARD FOR THE KARANDA VILLAGE VII CONDOMINIUM ASSOCIATION APPROVED BY RESOLUTION NO. 2023-159 FOR A SIGNAGE ENHANCEMENT PROJECT.
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BACKGROUND:
On September 14, 2023, the City Commission adopted Resolution No. 2023-159, awarding the Karanda Village VII Condominium Association $1,414.60 in matching grant funds from the Neighborhood Enhancement Grant (NEG) Program for a signage enhancement project. The total project cost was $2,829.20.
DISCUSSION:
Due to an inaccurate estimate that did not anticipate the total cost of permitting and engineering required, the Karanda Village VII Association has requested an additional $1,849.76 in matching grant funds from the NEG Program, which will require an amendment to the original grant award. The revised total project cost is $6,528.72, and the revised total matching grant award would be $3,264.36. The program guidelines provide a maximum matching reimbursement of $5,000 for sign projects.
RECOMMENDATION:
Staff recommends approval of this resolution.
FISCAL IMPACT:
REVENUES: $ 0
EXPENDITURES: $ 1,849.76
BUDGETED? Yes
NOTES: The FY24 Neighborhood Enhancement Grant budget will be used for the increased award amount. FY24 funds available total $172,992.92 from Account 0198-8220, Neighborhood Partner Grant.