Explanation
1. BACKGROUND: This legislation authorizes the Director of Public Utilities to enter into a Guaranteed Maximum Reimbursement Agreement (GMRA) with WTD Development LLC to receive and accept a payment of $160,000.00 for lining repair work for part of the Franklin Main Interceptor sewer running between 2nd Ave to 3rd Ave. in the 2nd Ave./King Ave. The project is known as the Franklin Main Sewer Rehabilitation - West Third Avenue to King Avenue Segment, CIP 650404-100043.
WTD Development LLC recently purchased the above listed property and plans to develop it. The proposed development will straddle the Franklin Main sewer and it has been agreed that the City of Columbus will rehabilitate/line the sewer for WTD Development LLC and they will reimburse the City through the Department of Public Utilities.
2. PROJECT TIMELINE: The project completion date is estimated for three to four months from the start of the repair project.
3. CONTRACT COMPLIANCE NUMBER: Not applicable as WTD Development LLC will be reimbursing the City. No payments will be made from the City to WTD Development LLC.
4. FISCAL IMPACT: WTD Development LLC will provide reimbursement to the Department Public Utilities, Division Sewerage and Drainage for 100% of the repair and lining work associated with Franklin Main Sewer Rehabilitation - West Third Avenue to King Avenue Segment.
5. EMERGENCY DESIGNATION: The Department of Public Utilities is requesting an emergency designation at this time. The execution of this reimbursement will allow for a timely rehabilitation of the existing sewer line and coordination with the construction of the Founders Park project.
Title
To authorize the Director of Public Utilities to enter into a Guaranteed Maximum Reimbursement Agreement with the WTD Development LLC, for the repair and lining part of the sewer line in the Franklin Main Sewer Rehabilitation - West Third Avenue to King Avenue Segment; and to authorize the receipt and deposit of ...
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