Explanation
BACKGROUND: This legislation authorizes the Director of Public Utilities to modify the Guaranteed Maximum Reimbursement agreement with GAY STREET CONDOMINIUM, LLC. for the improvements to the Long Street Sewer. This agreement was entered in accordance with Ordinance 0869-2012 which was passed by City Council on May 14, 2012. This modification will add addition funds to the agreement to cover increased construction cost, construction inspection cost, and a PTI fee.
The additional funding is being requested due to higher than anticipated construction cost. The developer has agreed to construct the improvements at their cost and then obtain a reimbursement from the City. Improvements to the Long Street Sewer are needed to facilitate the maintenance and operation of a public sewer.
CONTRACT COMPLIANCE NO.: 20-4285575 | Exp. 08/02/2012 | MAJ
EMERGENCY DESIGNATION: The Department of Public Utilities is requesting an emergency designation at this time to facilitate this project's completion.
FISCAL IMPACT: This legislation authorizes the City Auditor to transfer up to $73,697.08 from the Sanitary Sewer General Obligation Bond Fund, Fund 664 for the Long Street Sewer Project. The new project cost breakdown is as follows: $171,840.00 for construction cost; $25,776.00 for construction inspection by DPS; and $663.15 for PTI. The new project total would be $198,279.15
Title
To authorize the Director of Public Utilities to enter into a modification of the Guaranteed Maximum Reimbursement agreement with GAY STREET CONDOMINIUM, LLC. for improvements to the Long Street Sewer in the amount of $73,697.08; to amend the 2012 Capital Improvements Budget; and to declare an emergency. ($73,697.08)
Body
WHEREAS, the Director of Public Utilities needs to enter into a Guaranteed Maximum Reimbursement agreement with GAY STREET CONDOMINIUM, LLC., for improvements to the Long Street Sewer; and
WHEREAS, the Department of Public Utilities has agreed to incre...
Click here for full text