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3.5 EDSR 10-19-2015 ilk Request for Action River To Item Number Economic Development Authority 3.5 Agenda Section Meeting Date Prepared by Consent October 19, 2015 Amanda Othoudt, EDD Item Description Reviewed by Public Art Installation funding authorization Cal Portner, City Administrator Reviewed by Action Requested Approve,by motion, the transfer of$15,400 to the Other Professional Services line item to pay for the Public Art Installation of the Whimsical Windmill. Background/Discussion In 2014, the EDA approved the Powered by Nature Public Art Initiative. Eight art submissions were accepted by the EDA. In January of 2015, a judging panel awarded the project to Carl Zachmann. The Whimsical Windmill was installed and publicly unveiled in September 2015. The total budget for this project was $17,000,with$12,000 to be paid to the artist and$5,000 budgeted for installation. The project was not completed in 2014, so these funds were rolled into the EDA fund balance reserves at year end to be used in 2015. The cost of the installation of the sculpture was $3,400 which was $1,600 less than originally anticipated.The total cost of the public art and installation comes to $15,400. The project is now complete and final payment is requested by the artist. Financial Impact Transfer$15,400 from the EDA Cash reserves for the cost of the public art and installation costs. Each year thereafter, the EDA should budget for maintenance and repairs to the sculpture. Attachments N/A P-IuEREI 11 Template Updated 4/14 NATURE