Explanation
BACKGROUND: This legislation authorizes the Director of Public Utilities to enter into a Guaranteed Maximum Reimbursement agreement with GAY STREET CONDOMINIUM, LLC. for improvements to the Long Street Sewer.
Upon passage of this Ordinance, the City of Columbus will agree to pay a guaranteed maximum reimbursement of $124,582.07 to GAY STREET CONDOMINIUM, LLC. for improvements on the Long Street Sewer. The developer has agreed to construct the improvements at their cost and then obtain reimbursement from the City.
Improvements to the Long Street Sewer are needed to facilitate the maintenance and operation of a public sewer;
A guaranteed maximum cost reimbursement with GAY STREET CONDOMINIUM, LLC. provides that they construct the public improvement on the City's behalf; and that the project is publicly bid and subject to reimbursement agreement with the City.
CONTRACT COMPLIANCE NO.: 20-4285575 | Exp 08/02/2012 | MAJ
EMERGENCY DESIGNATION: The Department of Public Utilities is requesting an emergency designation at this time to facilitate this project's completion.
FISCAL IMPACT: This legislation authorizes the Director of Public Utilities to transfer within and expend up to $124,582.07 from the Sanitary Sewer General Obligation Bond Fund, Fund 664, for the Long Street Sewer Project and amend the 2012 Capital Improvements Budget.
Title
To authorize the Director of Public Utilities to enter into a Guaranteed Maximum Reimbursement agreement with GAY STREET CONDOMINIUM, LLC., pursuant to Section 186 of the Columbus City Charter for the construction of needed improvements to the Long Street Sewer for the Division of Sewerage and Drainage; to authorize the transfer within and expenditure up to $124,582.07 from the Sanitary Sewer General Obligation Bond Fund; to authorize an amendment to the 2012 Capital Improvements Budget; and to declare an emergency. ($124,582.07)
Body
WHEREAS, the Director of Public Utilities needs to ...
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