Explanation
1. BACKGROUND
On August 29, 2008, the City entered into the Columbus Coated Fabrics Economic Development Agreement (EDA) with Wagenbrenner Development, Inc. to address the redevelopment of the site with housing, green space and improved roadways.
On July 17, 2009, the City entered into the Columbus Coated Fabrics Design Agreement with Wagenbrenner Development, Inc. for the design of public roadway and infrastructure improvements on and around the site.
On November 9, 2010, the City entered into the Columbus Coated Fabrics Construction Guaranteed Maximum Reimbursement Agreement (GMRA) for the construction of public roadway and infrastructure improvements on and around the site.
The City has committed to funding the design and construction of street and utility improvements up to $12.85 million. The cost of design is $1,060,000.00. The cost of roadway improvements, including utility upgrades and inspection, will be $11,790,000.00.
Ordinance 1565-2009 authorized the expenditure of $6,760,000.00 for Grant Avenue improvements including construction inspection costs.
This ordinance authorizes the Directors of Public Service and Public Utilities to modify the construction Guaranteed Maximum Reimbursement Agreement with Wagenbrenner Development, Inc. to provide for utility relocation expenses including inspection costs.
Work to be performed as part of this modification consists of relocation of utility poles along Grant Avenue to the utility easement along the west side of the CSX Railroad between 5th and 9th Avenues. The Division of Power and Water(Power) will be inspecting this work in accordance with the MELP Relocation Plan (Weinland Park) dated February 11, 2011.
The original GMRA amount is: $3,406,946.63
The amount of this GMRA modification is : $ 216,557.24 (construction)
The total GMRA amount is: $3,623,503.87
The amount for inspection is...
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