Explanation
Background: Phase 1 of Northland Roadway construction is now complete which provides access to the western portion of Northland Park. Design of the remaining public roadways has commenced. Home Depot is in the final stages of review of its due diligence under its purchase contract with Columbus Urban Growth to redevelop a site on the eastern portion. Engineering plans, commissioned by Home Depot, are underway to construct a southern extension of Tamarack Boulevard from Morse Road to Northland Park Avenue. Tamarack will serve as the main access route to Home Depot and will also service parcels to the south and west. Since Tamarack is not exclusively for Home Depot's use, Home Depot's purchase contract is contingent on the City paying for 65% of the cost of its construction up to $1,800,000. From the $1,800,000, $275,000 will be set aside for construction inspection costs.
Fiscal Impact: Up to $1,800,000 in capital improvement dollars.
Emergency Justification: Home Depot's purchase contract with Columbus Urban Growth Corporation for approximately 11 acres of the Northland Park site is contingent on a firm commitment from the City to pay for the costs of constructing Tamarack Boulevard that are not related to the redevelopment of its prospective site. This contingency must be satisfied in early June before Home Depot's real estate committee will approve the contract.
Title
To authorize the Director of Development to enter into a Guaranteed Maximum Reimbursement Contract under Section 186 of the Columbus City Charter with Home Depot for the construction of the southern extension of Tamarack Boulevard on the Northland Park site; to authorize a transfer between and within projects within Fund 704; to authorize the expenditure of $1,800,000; to waive the competitive bidding provisions of Chapter 329 of the Columbus City Codes; and to declare an emergency. ($1,800,000)
Body
WHEREAS, design of roadways to serve Northla...
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