The Rose Park Pool Improvements project was funded as part of the Park District #1 in June of 2012.  A contract for this project was awarded by council at the January 28th Council Meeting for $270,000.  This contract will replace the existing water slides with new reconfigured ones.  The Additive Alternate #1 to the contract identifies the cost to add an additional 31 foot high water speed slide for $87,650. Billings Parks and Recreation Department has identified $60,000.00 from Park District #1 budget through cost savings that will pay for part of the additional slide cost.  Staff is requesting to borrow from the Council Contingency Fund $27,650 to fully fund the Additive Alternate #1.  This funding from the Council Contingency Fund will be paid back over the next 2 years through revenue generated from admission sales to the slide facility.  The Additive Alternate #1 has a March 15, 2013 deadline for accepatance in order for the slide components to be manufactured and installed by the May 28, 2013 substantial completion date as outlined in the contract and for the opening of the 2013 swimming season.                                 

The Council may:

1. Approve the appropriation of $27,650 from the Council Contingency Fund to exercise Additive Alternate #1 to contract an additional 31 foot high speed slide, or, 
2. Not approve the funding request and provide guidance to staff.

Funds to repay the $27,650 to the Council Contingency Fund will be generated by slide admissions over the next 2 years.  There will be no long term financial impact.

Staff recommends Council approve $27,650 from the Council Contingency Fund to complete funding for Additive Alternate #1 to construct a 31 foot high speed slide as part of the Rose Park Pool improvements project.