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Council authorizes $1.6 million payment for Luther George Park construction phase
Summary
Springdale approved payment of $1,600,000 as a progress payment on the Luther George Park project (excluding the playground). Staff said the total contract was roughly $12 million and the city expects to receive proceeds from a land sale to the park fund as receivable funds.
The Springdale City Council on Aug. 12 authorized payment of $1,600,000 for work on the Luther George Park project, a progress payment identified as not including the playground work. Ben (staff) told the council the disbursement is a bridge payment for the park project and gave the total contract figure during discussion. Ben stated, "Total contract was $12,000,003.61" (as read in the meeting record). The council approved the payment by vote. Council members asked whether funds from the sale of land to the park fund had been received; staff said the amount is currently shown as a receivable to the city and will be reflected in unrestricted general fund balances once collected. Staff said the payment is proceeding with existing project accounting and receivables tracked until funds are collected. The council’s action authorized the payment to the contractor per the project agreement; staff said financial reporting will reflect the receivable status until the land-sale funds are collected.
