Explanation
1. BACKGROUND
This legislation authorizes the Director of Public Service to enter into a Construction Reimbursement Agreement with 85 North High Street, LLC (the “Developer”) and to separately encumber funds required for the City to perform construction administration and inspection services relative to the construction of the Downtown Streetscape - 85 North High Street - Edwards project (the “Project”).
The Project consists of installing new sidewalks, curb, landscaping and lighting along the west side of North High Street between West Gay Street and West Long Street, and removing and replacing existing sidewalks and curb along the south side of West Long Street between North High Street and North Wall Street and the north side of West Gay Street between North High Street and North Wall Street. Additionally, a concrete bus pad will be installed on East Long Street between Wall Street and North High Street for the benefit of the Central Ohio Transit Authority.
2. CONTRACT COMPLIANCE INFORMATION
85 North High Street, LLC currently does not have a valid contract compliance number and will be required to become contract compliant before entering into agreement with the City.
3. FISCAL IMPACT
Funds in the amount of $820,000.00 are available for this project within the Development Taxable Bonds Fund. An amendment to the 2018 Capital Improvement Budget is necessary for the purpose of providing sufficient spending authority for the aforementioned project expenditure.
4. EMERGENCY DESIGNATION
Emergency action is requested in order to allow for the timely execution of the requisite reimbursement agreement to maintain the current project schedule and to meet community commitments.
Title
To amend the 2018 Capital Improvement Budget; to authorize the City Auditor to transfer cash and appropriation between projects within the Development Taxable Bonds Fund; to authorize the Director of Public Service to enter into a Construction Guaranteed Maxim...
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