City of Columbus - File #: 0834-2010

• File #: 0834-2010
• Version: 1
• Type: Ordinance
• Status: Passed
• File created: 5/27/2010
• In control: Finance & Economic Development Committee
• On agenda: 6/28/2010
• Final action: 7/1/2010
• Title: To amend the 2010 Capital Improvement Budget; to authorize the transfer of cash between projects; to authorize the Director of Public Service to enter into a Guaranteed Maximum Reimbursement Agreement with Gay Street Condominiums, LLC pursuant to Section 186 of the Columbus City Charter for up to $223,881.94 to construct right-of-way improvements around the Gay Street Condo Neighborhood Section 2 and to provide for construction inspection up to $55,970.49; to authorize the expenditure of up to $106,220.00 from the Streets and Highways G.O. Bond Fund; to authorize the expenditure of up to $173,632.43 from the Northland and Other Acquisitions Fund; to waive the provisions of Chapter 329 of Columbus City Code; and to declare an emergency. ($279,852.43)

Date	Ver.	Action By	Action	Result
7/1/2010	1	CITY CLERK	Attest
6/30/2010	1	MAYOR	Signed
6/28/2010	1	Columbus City Council	Approved	Pass
6/28/2010	1	COUNCIL PRESIDENT	Signed
6/15/2010	1	CITY ATTORNEY	Reviewed and Approved
6/15/2010	1	Dev Drafter	Sent to Clerk's Office for Council
6/14/2010	1	SERVICE DIRECTOR	Reviewed and Approved	Fail
6/14/2010	1	Service Drafter	Sent for Approval
6/14/2010	1	Dev Drafter	Sent for Approval
6/14/2010	1	CITY AUDITOR	Reviewed and Approved
6/14/2010	1	CITY AUDITOR	Reviewed and Approved
6/14/2010	1	Dev Drafter	Sent for Approval
6/8/2010	1	Service Drafter	Sent for Approval
6/7/2010	1	Finance Reviewer	Reviewed and Approved
6/7/2010	1	FINANCE DIRECTOR	Reviewed and Approved
6/7/2010	1	Dev Drafter	Sent for Approval
6/4/2010	1	Finance Reviewer	Reviewed and Approved
6/1/2010	1	Dev Drafter	Sent for Approval
6/1/2010	1	DEVELOPMENT DIRECTOR	Reviewed and Approved
6/1/2010	1	Dev Drafter	Sent for Approval
6/1/2010	1	Finance Reviewer	Reviewed and Approved

Explanation

Background: Gay Street Condominiums, LLC is developing a mix of townhouse and garden flat condominiums on seven acres downtown encompassing nine quarter-blocks. Important features of this "condo" neighborhood are backyards, parks, benches, courtyards and garages. Plans are to build 300 units over the next 5 to 6 years at a cost of $100 million. Forty-seven units have been completed, 39 sold with six in contract. Thirteen more are currently under construction and fourteen more will start construction this summer. New sidewalks, curbs and streetscape amenities will complement this private development. The City has agreed to reimburse the developer for the construction of right-of-way improvements. This legislation authorizes the Director of Public Service to enter into a Guaranteed Maximum Reimbursement Agreement with the developer to complete the improvements.

Fiscal Impact: $279,852.43 is available as cash in the 2010 Capital Improvement Budget.

Emergency Justification: Emergency action is requested so that construction can begin in June in order to complete the improvements this construction season.


Title

To amend the 2010 Capital Improvement Budget; to authorize the transfer of cash between projects; to authorize the Director of Public Service to enter into a Guaranteed Maximum Reimbursement Agreement with Gay Street Condominiums, LLC pursuant to Section 186 of the Columbus City Charter for up to $223,881.94 to construct right-of-way improvements around the Gay Street Condo Neighborhood Section 2 and to provide for construction inspection up to $55,970.49; to authorize the expenditure of up to $106,220.00 from the Streets and Highways G.O. Bond Fund; to authorize the expenditure of up to $173,632.43 from the Northland and Other Acquisitions Fund; to waive the provisions of Chapter 329 of Columbus City Code; and to declare an emergency. ($279,852.43)


Body

WHEREAS, Gay Street Condominiums, LLC, is developing a 7-acre co...