Consent 1.B.1.
Regular City Council Meeting
- Meeting Date:
- 08/14/2017
- TITLE
- Acceptance of $35,040 of Donations for Yellowstone Kelly Interpretive Site Change Order #4
- PRESENTED BY:
- Tina Volek
- Department:
- City Hall Administration
Presentation:
No
PROBLEM/ISSUE STATEMENT
The Yellowstone Kelly Interpretive Site (YKIS) at Swords Park is nearing completion, and Change Order #4 for $35,040 has been presented for payment as described below. This project has been a cooperative effort of the Greater Billings Area Chamber of Commerce, the City and the community to restore the 1928 grave of Luther Sage "Yellowstone" Kelly, a post-Civil War soldier, hunter and guide. The City originally contributed $50,000 as the lead donation for the project. The Chamber has continued that process by providing cash donations it has solicited, including those to be contributed Aug. 14, and a letter of commitment to pay for what is believed to be the final change order.
The Chamber will present a check for $14,000 to the Council at its Aug. 14 Business Session. The check includes donations from the following firms and individuals: $500 from Midland Claims; $1,000 from Chris and Dr. Cheryl Cook; $2,500 from the Boothill Inn; $5,000 from Stockman Bank; and $5,000 from an anonymous donor. In addition, Bill Cole has committed by letter to pay for any difference remaining once the project is complete and all bills and donations have been received; that amount currently is $14,557.44, although additional fund raising is expected to reduce the number before the project is finished.
The balance of the change order will be paid by $6,482.56 remaining in the City's project account.
The Chamber will present a check for $14,000 to the Council at its Aug. 14 Business Session. The check includes donations from the following firms and individuals: $500 from Midland Claims; $1,000 from Chris and Dr. Cheryl Cook; $2,500 from the Boothill Inn; $5,000 from Stockman Bank; and $5,000 from an anonymous donor. In addition, Bill Cole has committed by letter to pay for any difference remaining once the project is complete and all bills and donations have been received; that amount currently is $14,557.44, although additional fund raising is expected to reduce the number before the project is finished.
The balance of the change order will be paid by $6,482.56 remaining in the City's project account.
ALTERNATIVES ANALYZED
City Council may:
- Accept the donations and letter of commitment to complete the project;
- Delay approval; or
- Decline to accept the contributions or letter of commitment, which would leave the YKIS project incomplete or force the City to find funds to finish a contract it has signed.
FINANCIAL IMPACT
An accounting of the revenues and expenditures for the project compiled by the Finance Department as of June 30, 2017, is attached.
The Greater Billings Area Chamber of Commerce has gathered 94% of the funds for the project. Of that amount, $74,000 is based on pledges over four years, with the City providing short-term financing.
The Greater Billings Area Chamber of Commerce has gathered 94% of the funds for the project. Of that amount, $74,000 is based on pledges over four years, with the City providing short-term financing.
RECOMMENDATION
Staff recommends that the City Council accept $14,000 in donations from the firms and individuals mentioned, and of a letter of commitment from Bill Cole for the remaining funds needed to complete Change Order #4, currently estimated at $14,557.44.