Explanation
1. BACKGROUND
This ordinance authorizes the Department of Public Service to perform construction administration and inspection services relative to the Roadway - Edgar Waldo Way and Generations Pass project (the “Project”); to expenditure of up to $143,463.00 to fund those services; and to, as neccessary, accept additional monies for that purpose or refund the unexpended balance of monies deposited with the City Treasurer for that purpose after final accounting is complete or the Department of Public Service determines the remaining funds are no longer needed to support the aforementioned activities.
Administered by White Castle Management Co. (the “Development Team”), the aforementioned project will result in the construction of two new public roadways in the vicinity of the 555 W. Goodale Street site: Edgar Waldo Way and Generations Pass. Construction also will include new street lighting, storm sewer, retaining walls, and a waterline included in the Generations Pass and Edgar Waldo Way Waterline Improvement Plan.
Ordinance 1384-2019 authorized the Director of Public Service to execute a Construction Guaranteed Maximum Reimbursement Agreement with the Development Team, whereby the City agreed to reimburse the Development Team for eligible construction costs.
The Development Team shall, however, assume and bear the cost of all construction administration and inspection services performed by the Department of Public Service, which is necessary to the acceptance of the aforementioned improvements by the City. The Development Team previously deposited $143,463.00 with the City Treasurer for that purpose based on a preliminary cost estimate. Should that amount be insufficient to fund construction inspection and administration services for the Project, the Development Team will be required to deposit such additional sum as may be necessary to satisfy the obligation owed for that purpose. Should an unexpended balance remain from the funds previously de...
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