Explanation
BACKGROUND: This legislation authorizes the Director of the Department of Development to enter into an Amendment to Contract Regarding Asbestos Abatement and Demolition at Columbus Coated Fabrics (the Amendment) with Campus Partners for Community Urban Redevelopment (Campus Partners) to amend the Contract Regarding Asbestos Abatement and Demolition at Columbus Coated Fabrics (the Contract) with Campus Partners for the removal of asbestos and the demolition of buildings at the former Columbus Coated Fabrics site at East Fifth Avenue and Grant Avenue in Columbus. $1.6 million was originally authorized for the demolition and asbestos removal contract, based on pre-bid estimates of the costs of the demolition and asbestos abatement work and the associated professional services and oversight requirements. However, at the time the Contract was signed, bids had been received which indicated that the total cost would likely exceed $1.6 million, although the actual total of all the costs was not known at the time the Contract was signed. As a result, the Contract provided for a guaranteed maximum price of $1.6 million, "subject to increase to any larger amount hereafter authorized by Columbus City Council," with the verbal understanding between the City and Campus Partners that the Contract would be amended subsequently to amend the guaranteed maximum price to the total of all approved and appropriate actual costs once those costs were known. It is now known that the total of all such costs will be $1.75 million. This legislation allows the Amendment to increase the guaranteed maximum price to the total of all approved and appropriate costs for that asbestos removal and demolition, which is consistent with the understanding with Campus Partners at the time that the Contract was entered into.
FISCAL IMPACT: The expenditure of $150,000 from 2007 Capital funds.
Title
To authorize the Director of Development to enter into an Amendment to Cont...
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