Explanation
1. BACKGROUND
This ordinance authorizes the City’s Real Estate Office to acquire the Real Estate needed for the Department of Public Utilities to complete the Central College Subtrunk Phase 3 project, C.I.P. No. 650033-100003, and to expend up to $30,000.00 more than amounts already authorized to be spent for this acquisition.
The City’s Department of Public Utilities (“DPU”) is engaged in acquiring real estate for the Central College Subtrunk Phase 3, C.I.P. No. 650033-100003 (“Public Project”). The City must acquire in good faith and accept certain fee simple and lesser real estate located in the vicinity of the intersection of Central College Road and New Albany Road West (collectively, “Real Estate”) for DPU to complete the Public Project. Accordingly, DPU requested the City’s Real Estate Office to acquire the Real Estate in good faith and contract for associated professional services (e.g. surveys, title work, appraisals, etc.) in order for DPU to timely complete the Public Project.
The amount needed to acquire real estate when an ordinance is submitted for City Council approval is an estimate. Ordinance 3428-2018, passed by City Council on 01/28/19, authorized the expenditure of up to $325,000.00 to acquire the Real Estate needed to complete this Public Project. This initial estimate was not sufficient to complete the acquisition. Ordinance 0159-2021, passed by City Council on 02/01/21, authorized up to an additional $500,000.00 to acquire the needed Real Estate. This additional estimated amount also was not enough to complete the acquisition. Ordinance 1927-2021, passed by City Council on 07/26/21, authorized up to $100,000.00 in additional funds to complete the acquisition. The acquisition of the needed Real Estate is now nearly complete. This ordinance is requesting an additional $30,000.00 to finalize the acquisition.
2. CONTRACT COMPLIANCE
Not applicable.
3. FISCAL IMPACT
Funding in the amount of $30,000.00 is available ...
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