On tonight's agenda is a proposal from Countryboy Landscaping to provide General Contractor services to complete the next infrastructure phase of Commerce Station. Much of the funding for the project is available from savings on prior phases of the construction. This ordinance recognizes revenue from three sources to complete funding for the proposed general contractor bid.
1) Miscellaneous Revenue of $224,248 has been recorded in prior fiscal years (mostly FY 2007-2009 from Lake Norman Charter rent), but has not been budgeted to be spent.
2) The Huntersville Electric Fund has agreed to contribute $150,000 toward the completion of road improvements in the next phase of infrastructure construction.
3) Sale of 9.11 acres of land at $60,000 is expected to provide $546,600 that this amendment will use to offset infrastructure costs.
These three revenue sources will provide an additional $920,848 to complete this phase of Commerce Station infrastructure.