Explanation
Background: Gay Street Condominiums, LLC is developing a mix of townhouse and garden flat condominiums on seven acres downtown encompassing nine quarter-blocks. Important features of this "condo" neighborhood are backyards, parks, benches, courtyards and garages. Plans are to build 300 units over the next 5 to 6 years at a cost of $100 million. Forty-seven units have been completed, 39 sold with six in contract. Thirteen more are currently under construction and fourteen more will start construction this summer. New sidewalks, curbs and streetscape amenities will complement this private development. The City has agreed to reimburse the developer for the construction of right-of-way improvements. This legislation authorizes the Director of Public Service to enter into a Guaranteed Maximum Reimbursement Agreement with the developer to complete the improvements.
Fiscal Impact: $279,852.43 is available as cash in the 2010 Capital Improvement Budget.
Emergency Justification: Emergency action is requested so that construction can begin in June in order to complete the improvements this construction season.
Title
To amend the 2010 Capital Improvement Budget; to authorize the transfer of cash between projects; to authorize the Director of Public Service to enter into a Guaranteed Maximum Reimbursement Agreement with Gay Street Condominiums, LLC pursuant to Section 186 of the Columbus City Charter for up to $223,881.94 to construct right-of-way improvements around the Gay Street Condo Neighborhood Section 2 and to provide for construction inspection up to $55,970.49; to authorize the expenditure of up to $106,220.00 from the Streets and Highways G.O. Bond Fund; to authorize the expenditure of up to $173,632.43 from the Northland and Other Acquisitions Fund; to waive the provisions of Chapter 329 of Columbus City Code; and to declare an emergency. ($279,852.43)
Body
WHEREAS, Gay Street Condominiums, LLC, is developing a 7-acre condominium neighborhood downtown that will produce 300 residential units over the next 5 to 6 years; and
WHEREAS, the total private investment is estimated to be $100 million; and
WHEREAS, the Directors of Development and Public Service feel it is necessary to enter into a Guaranteed Maximum Reimbursement Agreement with Gay Street Condominiums, LLC to construct complementary improvements in the public rights-of-way around this condominium project; and
WHEREAS, an emergency exists in the usual daily operation of the City of Columbus in that it is immediately necessary to enter a Guaranteed Maximum Reimbursement Agreement with Gay Street Condominium, LLC for right-of-way improvements around the Gay Street Condo Neighborhood Section 2 project so that construction can begin in June in order to complete the improvements this construction season, all for the immediate preservation of the public health, peace, safety and welfare; NOW, THEREFORE,
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
Section 1. That the 2010 Capital Improvements Budget is hereby amended as follows:
CURRENT CIB:
Fund 704|Dept/Div: 59-12|Project Number 440005-100000|Project Name - Urban Infra-Eng&Constr/Traffic|Amount $8,456.08
Fund 704|Dept/Div: 59-12|Project Number 440104-100000|Project Name - Misc Economic Development|Amount $28,802.50
Fund 704|Dept/Div: 59-11|Project Number 530801-100000|Project Name - Downtown Streetscape Imps|Amount $805,416.78
Fund 704|Dept/Div: 59-11|Project Number 590131-100000|Project Name - Misc Developments|Amount $63,544.64
REVISED CIB:
Fund 704|Dept/Div: 59-12|Project Number 440005-100000|Project Name - Urban Infra-Eng&Constr/Traffic|Amount $0
Fund 704|Dept/Div: 59-12|Project Number 440104-100000|Project Name - Misc Economic Development|Amount $0
Fund 794|Dept/Div: 59-11|Project Number 530801-100000|Project Name - Downtown Streetscape Imps|Amount $800,000
Fund 704|Dept/Div: 59-11|Project Number 590131-100000|Project Name - Misc Developments|Amount $106,220
Section 2. That the City Auditor is hereby authorized and directed to transfer funds within the Streets & Highways G.O. Bonds Fund 704 as follows:
FROM:
Dept/Div: 59-12|Project Number 440005-100000|Project Name - Urban Infra-Eng&Constr/Traffic|Amount $8,456.08
Dept/Div: 59-12|Project Number 440104-100000|Project Name - Misc Economic Development|Amount $28,802.50
Dept/Div: 59-11|Project Number 530801-100000|Project Name - Downtown Streetscape Imps|Amount $5,416.78
TO:
Dept/Div: 59-11|Project Number 590131-100000|Project Name - Misc Developments|Amount $42,675.36
Section 3. That the Director of Public Service be authorized to enter into a Guaranteed Maximum Price Reimbursement Agreement with Gay Street Condominiums, LLC pursuant to Section 186 of the Columbus City Charter in an amount not to exceed $223,881.94 for purposes of designing and constructing right-of-way improvements to Gay Street, Fifth Street and Normandy Avenue and to provide for construction inspection up to $55,970.49.
Section 4. That for the purpose of paying the cost of the contract and inspection, as stated in Section 3, the expenditure of up to $106,220.00 or so much thereof that may be necessary, be and is hereby authorized and approved as follows: Public Service Department, Division No. 59-11, Fund No. 704, Project No. 590131-100000 Misc Developments, OCA Code 591132, Object Level Three 6631 and the expenditure of up to $173,632.43 or so much thereof that may be necessary, be and is hereby authorized and approved as follows: Department of Development, Division No. 44-01, Fund No. 735, Project No. 441735-100000 Northland Mall Project, OCA Code 441735, Object Level Three 6631.
Section 5. That the formal consultant selection process provisions of Chapter 329 of the City Code be and hereby are waived.
Section 6. That the City Auditor is authorized to make any accounting changes to revise the funding source for all contracts or contract modifications associated with this ordinance.
Section 7. That for the reasons stated in the preamble hereto, which is hereby made a part hereof, this ordinance is hereby declared to be an emergency measure and shall take effect and be in force from and after its passage and approval by the Mayor, or ten days after passage if the Mayor neither approves nor vetoes the same.