Explanation
1. BACKGROUND
This legislation authorizes the Director of Public Service to appropriate and expend funds to support the performance of construction administration and inspection services relative to the completion of the Roadway - Fermi Drive - Polaris Pkwy to Ikea Way project.
The aforementioned project encompasses the realignment and reconstruction of an existing roadway, to be renamed Fermi Drive, from Polaris Parkway to Ikea Way. The roadway will generally consist of 3 lanes including a two-way left turn lane and travel lanes in each direction. Fermi Drive work includes full-depth pavement, curb and gutter, sidewalks, street lighting, storm sewer, water main, street trees, and minor modifications to the two existing traffic signals on either terminus.
This work was bid by the Department of Public Service on behalf of N.P. Capital Management Corporation under the City's 3P program. Public Service evaluated the bids and recommended Strawser Paving Company be awarded the contract. N.P. Capital Management will hold the contract and pay Strawser Paving Company for the work, seeking reimbursement from the City under the terms of a construction guaranteed maximum reimbursement agreement (CGMRA) under Ordinance 2631-2018 passed by Council on October 8, 2018. The Department of Public Service will be performing construction administration and inspection services for the project. Under the terms of the CGMRA, N.P. Capital Management has deposited $104,544.73 with the City Treasurer to support those activities. This is an estimate based upon the cost of construction. N.P. Capital Management will deposit additional funds if the initial deposit should be insufficient to pay all project construction administration and inspection services. If the original deposit should be sufficient to fund all of these services, any amount remaining shall be refunded after final accounting for the project has been completed or when the Department of Public Service...
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