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Council approves $320,000 contingency appropriation for Embrace Downtown project
Summary
Council approved Ordinance O6-01-26 to add $320,000 to the Veil City Capital Reserve Project Fund for contingencies and related non-construction costs for the Embrace Downtown project; officials said the money may not be used and construction is expected to begin Monday, weather permitting.
The Noblesville City Council voted to approve Ordinance O6-01-26, providing an additional appropriation of $320,000 in the Veil City Capital Reserve Project Fund to supplement bond proceeds for the Embrace Downtown project.
A city presenter told council, “As a reminder, this is an additional appropriation of $320,000 for the Embrace Downtown project. This money will not go toward the construction cost. This goes towards additional cost outside of that due to our proactive care for our downtown.” The presenter said the appropriation is intended to cover contingencies such as fire suppression upgrades and early completion incentives and that the full amount may not be used.
The agenda included a public hearing; no members of the public spoke. The council then moved and seconded approval; a roll-call vote recorded ayes and the ordinance was adopted.
Staff said construction is to begin on or after Monday, weather permitting, and emphasized the appropriation is intended to ensure funds are available for unanticipated project-related contingencies rather than to increase contract construction funding.
