Explanation
1. BACKGROUND
This ordinance seeks authorization for the Director of the Department of Public Service to enter into a Design Guaranteed Maximum Reimbursement Agreement with Townsend Construction for up to $27,074.58 for design of the Signal Installations-Hamilton Road at Warner Road project.
The City of Columbus created the Albany Crossing Incentive District (the “Albany Crossing TIF”) and nine other Tax Increment Financing (TIF) Districts in the Northeast Columbus Area (hereafter, the “NORTHEAST TIFs”) on December 14, 2005, pursuant to Ordinance No. 2117-2005.
The Albany Crossing TIF is one of the five NORTHEAST TIFS that are generally located to the east of the intersection of Lee Road and Central College Road that encompass the properties that compose the land area in the Northeast Memorandum of Understanding (the “Northeast MOU”) signed on February 23, 2006, under the authorization of Ordinance No. 2153-2005 passed by Council on December 12, 2005; and the subsequent First Amendment to the NORTHEAST MOU signed on August 16, 2010, under the authorization of Ordinance No. 0942-2010 passed by Council on June 28, 2010.
On November 20, 2009, the Director of Public Service issued a letter to Townsend Construction agreeing to enter into a reimbursement agreement for a proposed traffic signal at the intersection of Hamilton Road and Warner Road upon meeting the necessary signal warrants.
An Administrative Revision to the Northeast MOU executed on May 5, 2011, added a traffic signal at the intersection of Hamilton Road and Warner Road, hereafter known as Signal Installations - Hamilton Road at Warner Road, as one of the public improvement projects included in the NORTHEAST MOU.
On December 28, 2010, Cardinal Title Holding Company, a company holding title to property for the benefit of Townsend Construction, entered into a professional services agreement with E.P. Ferris and Associates to design the Signal Installations - Hamilton Road at Warner Road p...
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