Explanation:
1. BACKGROUND
The Ohio State University (OSU) is currently planning several improvement projects within the University Area. As part of this process, OSU has proposed to make certain modifications to adjacent public roadways for the purpose of improving pedestrian and vehicular ingress and egress to its facilities.
Section 901.01(f) of Columbus City Codes, 1959, currently requires entities wishing to make such roadway improvements to enter into an "Agreement to Improve Streets" with the Director of Public Service and to provide to the City a surety bond, or letter of credit, equal to the amount estimated to complete each of these roadway improvements. However, as a public entity OSU is also required to obtain a surety bond, or letter of credit, from their contractor(s) for all proposed work, including work within the public right-of-way on City streets. Therefore, the current requirements of the City and OSU would result in these proposed public roadway improvements being bonded twice, thereby doubling OSU's cost for ensuring this work is completed in a satisfactory manner, while providing little or no additional benefit . Therefore, OSU requests that these surety bonds be waived, on a project by project basis, for all proposed work, including work within the public right-of-way on City streets.
In an effort to eliminate this expense to another public entity, this ordinance authorizes the Director of Public Service to waive on a project by project basis the surety bonding/letter of credit requirements associated with Section 901.01(f) of Columbus City Code, 1959, from within future "Agreements To Improve Streets" between the City and the Ohio State University for public roadway improvements associated with the University area and each agreement shall remain in effect for so long as the Ohio State University remains in compliance with the following condition:
1. In lieu of surety bonding/letter of credit, the Ohio State University s...
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