Explanation
1. BACKGROUND
This legislation authorizes the Director of Public Service to enter into a Construction Guaranteed Maximum Reimbursement Agreement with Daimler Group, Inc., hereinafter “Daimler”, relative to the Downtown Streetscape - 80 East Rich Street project.
The aforementioned project will result in the redevelopment of the last parcel of the former City Center site at the southwest corner of Third and Rich streets into a mixed-use development that will include residential, retail, and commercial office space. As part of that effort, Daimler will: install a curb extension at the northwest corner of Third and Rich streets; reconstruct the on-street parking and drop-off area on Rich Street; and replace sidewalks and install granite curb, raised landscaping beds, street lighting, and street trees on the west side of Third Street and north side of Rich Street.
The City has agreed to reimburse Daimler up to $600,000.00 for eligible costs incurred during the completion of said streetscape improvements.
2. CONTRACT COMPLIANCE INFORMATION
The contract compliance number for Daimler is CC004651, which expires April 25, 2020.
3. FISCAL IMPACT
Funding in the amount of $600,000.00 is available for this project in the Streets and Highways Bond Fund, Fund 7704. A transfer of cash is necessary to establish funding in the proper project.
Title
To authorize the City Auditor to transfer cash and appropriation between projects within the Streets and Highways Bond Fund; to authorize the Director of the Department of Public Service to enter into a Construction Guaranteed Maximum Reimbursement Agreement with Daimler Group, Inc.; to authorize the expenditure of up to $600,000.00 within the Streets and Highways Bond Fund; and to declare an emergency. ($600,000.00)
Body
WHEREAS, Daimler Group, Inc. (“Daimler”) is administering the Downtown Streetscape - 80 East Rich Street project, which will result in the redevelopment of the last parcel of the for...
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