Explanation
1. BACKGROUND
This ordinance authorizes the Director of Public Service to execute agreements, including any future amendments or modifications thereto, if needed, with and to accept funding from Delaware County relative to the completion of the Roadway Improvements - Lyra Drive Extension project. It also authorizes the Auditor's Office to appropriate funds received from Delaware County for the project and to establish auditor certificates as needed and requested by the Director of the Department of Public Service to allow funds received from Delaware County to be spent on construction, construction administration, and construction inspection expenses for the project.
The City is engaged in a Public-Private Partnership (3P) with NP Capital Management Corporation to facilitate the construction of certain public infrastructure improvements in the Polaris area. One of the improvements encompasses the construction of a roadway extension within the newly dedicated public rights-of-way from Lyra Drive and Costco/Cabela to East Powell Road. A portion of the planned improvements will benefit Delaware County, which has agreed to contribute funding to support that effort.
The City will manage the construction project and requires a deposit from Delaware County to fund Delaware County's portion of the construction. The initial deposit is based upon an engineer's estimate of the cost of the project. Additional funding contributions from Delaware County may be needed if the estimated amount is insufficient to fund the Delaware County portion of the construction.
This legislation also authorizes, as necessary, the issuance of a refund for the unspent balance of the funds deposited by Delaware County after the project and final accounting have been completed or when the Department of Public Service, Division of Design and Construction, certifies said funds are no longer needed and can be returned to Delaware County.
2. FISCAL IMPACT
Delaware County has agr...
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