Explanation
Background: This legislation authorizes payment to Limited Brands in the amount of $9,098.00 for reimbursement of costs for standard materials used in the construction of a traffic signal at the intersection of Easton Way and Sunbury Road.
Subsequent to completion of traffic signal warrant studies that determined this intersection met several warrants contained in the Ohio Manual of Uniform Traffic Control Devices the Traffic and Transportation Commission approved the installation of a traffic signal at this location on July 10, 2001.
The developer, Limited Brands, made it known to the City they would prefer that the signal be built to their "Easton Blue" standards. The City agreed to build the signal to these standards if Limited Brands would pay all costs above and beyond those of a standard City signal. It was also decided that Limited Brands would purchase all the non-standard materials and that the City would reimburse Limited Brands up to the cost of standard materials.
City engineering and signal construction personnel identified those items that had significant cost differences in order to build a signal to the "Easton Blue" standard versus the City standard. It was determined that five extraordinary items impacted construction; these items have a standard City cost of approximately $10,378.00. The City directly paid the $1,280.00 cost of one item, the directional drilling of underground conduit. Limited Brands purchased all of the other items.
The City is reimbursing Limited Brands for the City's standard cost for the items Limited Brands purchased ($10,378.00) minus the additional cost that the City has already paid to build to the "Easton Blue" standard ($1,280.00) or $9,098.00.
Fiscal Impact: The Transportation Division budgeted $1.35 million in the 2004 Capital Improvement Budget in the 1995, 1999 Voted 1999 Streets and Highways Fund for traffic signal installation. Other legislation (Ordinance 0545-2004 passed Apri...
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