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resources in its current shape. This is a good example of why the city now requires development <br />to extend and/or improve roadway surfaces impacted by their development projects. Were it not <br />for the one-time available funding we currently have and a willing partner like CEFCO, improving <br />this roadway would be challenging at best. <br />The share of each partner is anticipated to be $145,447.50 for the project. Fikes Wholesale has <br />agreed to pay 50%, which could be more or less than this based on bids once they have come in. <br />The FY24/25 Budget has $2.5 million set aside for the Mill & Overlay project and this project. <br />The city's share will come from this account. This is remaining funding from the 2017 and 2018 <br />GO Bonds. Design is underway in-house by City Engineering Staff, and bidding will commence <br />in May of this year. <br />OPTIONS <br />1. Grant approval for the City Manager to enter into a cost sharing agreement with Fikes <br />Wholesale, Inc. for the reconstruction of 7" Street SW into a concrete roadway. <br />2. Deny approval for the City Manager to enter into a cost sharing agreement with Fikes <br />Wholesale, Inc. for the reconstruction of 7t" Street SW into a concrete roadway. <br />;. Request additional information regarding this issue and bring forth to a future meeting of <br />the city council. <br />RECOMMENDATION: <br />1. Grant approval for the City Manager to enter into a cost sharing agreement with Fikes <br />Wholesale, Inc. for the reconstruction of 7th Street SW into a concrete roadway. <br />