Explanation
BACKGROUND: This legislation authorizes the Director of Public Utilities to enter into a Guaranteed Maximum Reimbursement agreement with BJM Company, 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 BJM Company, 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 causing flooding of the area. Construction of this storm sewer will correct this issue.
A guaranteed maximum cost reimbursement with BJM Company, 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: This legislation includes a transfer of funds in the amount of $300,254.03 within the Storm Recovery Zone Super Build America Bonds Fund and an amendment to the 2011 Capital Improvements Budget to allow sufficient cash and authority in the proper account to fund the necessary improvements. 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 BJM Company, 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 amend the 2011 Capital Impr...
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