Explanation
1. BACKGROUND
This ordinance authorizes: 1) the Director of Public Service to accept deposits from N.P. Capital Management Corp. to be used for construction, construction inspection, and administration of the Roadway - Ceres Drive - Polaris Parkway to Ikea Way project; 2) the establishment of Auditor’s Certificates for the payment of construction, construction inspection, and administration services of the project; and 3) the expenditure of funds for the aforementioned purpose. It also authorizes the refund of any unused funds deposited by N.P. Capital Management Corp., or the acceptance of additional funding from N.P. Capital Management Corp. should the aforementioned sum prove insufficient, to pay the actual costs for construction, construction inspection, and administration for this project upon the completion of final accounting for the Roadway - Ceres Drive - Polaris Parkway to Ikea Way project or when the Department of Public Service determines remaining funds are no longer needed for construction, construction inspection, and administration for the project.
This contract includes a plan to realign and reconstruct Ceres Drive from its intersection with Polaris Parkway to Ikea Way. The roadway will consist of 3 lanes including a two-way left turn lane, except for the section through the conservation easement and over the existing 72" storm culvert where it will narrow to 2 lanes. Ceres Drive will be constructed with full-depth pavement, curb and gutter, sidewalks, street lighting, storm sewer and street trees, and other work as may be necessary to complete the contract in accordance with the plans and specifications set forth in the Bid Submittal Documents.
N.P. Capital Management Corp. recently deposited $1,788,541.59 with the City Treasurer to support the performance of those services. Ordinances 2622-2020 and 1909-2023 authorized the execution of a Construction Reimbursement Agreement for this project.
The estimated Notice to Proceed d...
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