Explanation
BACKGROUND: This legislation authorizes the Director of Public Utilities to enter into a Guaranteed Maximum Reimbursement agreement with REFSEWCO, Inc. for upgrades to the Refugee Road 54" Storm Sewer.
Upon passage of this Ordinance the City of Columbus will agree to pay a guaranteed maximum reimbursement of $300,254.03 to REFSEWCO, Inc, for construction improvements on the Refugee Road 54" Storm Sewer. The developer has agreed to construct the improvements at their cost and then obtain reimbursement from the City.
Storm discharge from Kensington Commons area is entering an undersized City of Columbus storm sewer inlet and a larger diameter inlet will mitigate any potential of storm discharge.
A guaranteed maximum cost reimbursement with REFSEWCO, Inc. provides that they construct the public improvement on the City's behalf; that the project is publicly bid and subject to reimbursement agreement with the City.
FISCAL IMPACT: Funds for this expenditure are available within the Storm Recovery Zone Super Build America Bonds Fund. The maximum amount of reimbursement provided within the Guaranteed Maximum Cost agreement authorized to be expended by the Ordinance is $300,254.03.
EMERGENCY: Project will immediately aid in the safety, health and property damage at the reference project location. The quicker the project is installed, the more immediate relief is provided to the residents.
Title
To authorize the Director of Public Utilities to enter into a Guaranteed Maximum Reimbursement agreement with REFSEWCO, Inc. pursuant to Section 186 of the Columbus City Charter for the construction of needed improvements to the Refugee Road Storm Sewer for the Division of Sewerage and Drainage; to authorize the expenditure of $300,254.03 from the Storm Recovery Zone Super Build America Bonds Fund; and to declare an emergency. ($300,254.03)
Body
WHEREAS, the Director of Public Utilities needs to enter into a Guaranteed Maximum Reimbursement ag...
Click here for full text