Explanation
1. BACKGROUND: This legislation authorizes the Director of Public Utilities to enter into a Guaranteed Maximum Reimbursement agreement with 1354 Ida Avenue LLC for the Ida Avenue Water Line Improvements Project, Division of Water Contract No. 2058.
The 1.5-inch and 2-inch water mains along Ida Avenue were installed in the early 1920’s and are near the end of their expected useful life. Using asset management principles, the mains were identified to be replaced as part of the Division of Water’s Capital Improvement Plan. This project will replace the water mains with a 6-inch water main.
Upon passage of this Ordinance, the City of Columbus will agree to pay a guaranteed maximum reimbursement of $230,185.00 to 1354 Ida Avenue LLC. 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 1354 Ida Avenue LLC 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.
2. ECONOMIC IMPACT/ADVANTAGES; COMMUNITY OUTREACH; PROJECT DEVELOPMENT; ENVIRONMENTAL FACTORS/ADVANTAGES OF PROJECT: By entering into an agreement with the developer, water mains that are inadequately sized and have reached the end of their useful life will be replaced.
3. BID INFORMATION: The Department of Public Utilities will assist the developer with competitively bidding this project through the Vendor Services website.
4. CONTRACT COMPLIANCE NO.: 46-2617685 | exp. 6/27/15 | MAJ
Searches in the Excluded Party List System (Federal) and the Findings for Recovery list (State) produced no findings against 1354 Ida Avenue LLC.
5. FISCAL IMPACT: A transfer within the Water Works Enlargement Voted Bonds Fund will be necessary as well as an amendment to the 2013 Capital Improvements Budget.
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