Explanation
BACKGROUND: This legislation authorizes the Director of Public Utilities to enter into a Guaranteed Maximum Reimbursement agreement with HOMEWOOD CORPORATION for the Big Walnut Sewer Trunk, Central College Road project. The project will include extension of the Central College Subtrunk sewer from its current terminus just east of the intersection of Central College Road and Course Drive to Hamilton Road, then north into the proposed Homewood development. The project consists of 5,474 linear feet of sewer installation ranging in size from 30-in diameter to 12-in diameter.
Upon passage of this Ordinance, the City of Columbus will agree to pay a guaranteed maximum reimbursement of $2,631,071.81 to HOMEWOOD CORPORATION for the Central College Big Walnut Subtrunk Project. The developer has agreed to construct the improvements at their cost and then obtain reimbursement from the City. Funding for the reimbursement is provided by the Department of Public Utilities.
A guaranteed maximum cost reimbursement with HOMEWOOD CORPORATION provides that they construct the public improvement on the City's behalf; and that the project is publicly bid and subject to reimbursement agreement with the City.
DESIGNATION: An emergency designation is not requested for this legislation.
CONTRACT COMPLIANCE NO.: 31-0685947 | Exp. 04/15/2015 | MAJ
FISCAL IMPACT: This legislation authorizes the Director of Public Utilities to transfer within and expend up to $2,631,071.81 from the Sanitary General Obligation Bond Fund, Fund 664, for the Central College Big Walnut Subtrunk Project and to amend the 2013 Capital Improvements Budget.
Title
To authorize the Director of Public Utilities to enter into a Guaranteed Maximum Reimbursement agreement with HOMEWOOD CORPORATION, pursuant to Section 186 of the Columbus City Charter for a sewer extension as part of the Central College Big Walnut Subtrunk Sewer Project for the Division of Sewerage and Drainage; to author...
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