Explanation
1. BACKGROUND
This ordinance seeks authorization for the Director of the Department of Public Service to enter into Guaranteed Maximum Reimbursement Agreements with CDS Wall Street Construction, Inc., for up to $265,000.00 to design and construct Phase 1 and design Phase 2 improvements to Wall Street from West Main Street to West Rich Street.
CDS Wall Street Construction, Inc. (“CDS”) is undertaking a $20 million renovation of the historic Julian building at 272 South Front Street. Built in 1921, the former shoe factory will be converted into 90 market-rate loft apartment units with parking on the lower levels of the building. Building renovation began in Summer 2013 and is anticipated to be completed in Spring 2015.
In support of the Julian building renovation, the city has engaged CDS in a Public-Private Partnership (3P) through which the Department of Development has committed $1,099,157.90 toward improvements to Wall Street from West Main Street to West Rich Street. Currently in the design stage, these improvements will be constructed in two phases in an effort to more efficiently coordinate the Julian building renovation with right-of-way improvements to Wall Street.
Phase 1 will be constructed in 2014 as part of a private plan that will make improvements to Wall Street from West Main Street to a point 107 feet north of the West Main Street centerline. Phase 2 is anticipated be constructed in 2015 as part of a City capital improvement project known as Downtown Streetscapes - Casto Julian - Wall Street, CIP No. 530801-100013, that will make improvements to Wall Street from the northern end of the Phase 1 project limits to West Rich Street.
The scope of improvements for Phase 1 and Phase 2, improvements to Wall Street from West Main Street to West Rich Street, include, but are not limited to, the reconstruction of Wall Street from West Main Street to West Rich Street. The roadway will be rebuilt with brick pavers on a concrete base, match...
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