Explanation
1. BACKGROUND
Ordinance No. 0508-2014 authorized the Director of Public Service, on behalf of the Department of Development, to enter into Guaranteed Maximum Reimbursement Agreements with Long and High Loan Holdings, LLC, for up to $250,000.00 to design and construct the Downtown Streetscape - Atlas Building project.
The Director of Public Service has already entered into a Design Guaranteed Maximum Reimbursement Agreement, under the authority of Ordinance 0508-2014, in the amount of $56,204.91. It was anticipated that the Director of Public Service would enter into a Construction Guaranteed Maximum Reimbursement Agreement, under the authority of Ordinance 0508-2014, in the amount of $193,795.09.
Due to unforeseen conditions, additional work is required for the project that will stabilize a section of sidewalk impacted by the Atlas Building’s underground vault that encroaches into the City’s right-of-way. The estimated cost for this additional work is $83,659.00. The Department of Development has committed up to $35,000.00 for this additional work.
This ordinance authorizes the Department of Public Service to amend the total dollar amount of the Guaranteed Maximum Reimbursement Agreements by adding an additional $35,000.00, for a total reimbursement amount of up to $285,000.00.
2. CONTRACT COMPLIANCE INFORMATION
The contract compliance number for Long and High Loan Holdings, LLC is 463121374. The expiration date is 2/5/16.
3. FISCAL IMPACTS
Funds in the amount of $35,000.00 are available for this project in the Streets and Highways G.O. Bond Fund within the Department of Development. An amendment to the Capital Improvements fund is necessary for the purpose of providing sufficient spending authority for the aforementioned project expenditure.
4. EMERGENCY DESIGNATION
The Departments of Development and Public Service is requesting this ordinance to be considered an emergency measure in order to allow design and construction of the project...
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