1. BACKGROUND
This ordinance seeks authorization for the Director of the Department of Public Service to enter into a Construction Guaranteed Maximum Reimbursement Agreement with The Annex at River South II, Ltd., for up to $260,000.00 to construct the Downtown Streetscape - Trautman Building (High Street) project.
The City of Columbus and The Annex at River South II, Ltd. are engaged in a Public-Private Partnership (3P) to make streetscape improvements in support of the redevelopment of the Trautman and HUB buildings in the River South District of downtown Columbus as part of the Downtown Streetscape - Trautman Building (High Street) project.
2. CONTRACT COMPLIANCE INFORMATION
The contract compliance number for The Annex at River South II, Ltd. is 31-1691172. The expiration date is 1/7/16.
3. FISCAL IMPACTS
Funds in the amount of $260,000.00 are available for this project in the Streets and Highways Bond Fund within the Department of Public Service. An amendment to the 2015 Capital Improvement Budget is necessary for the purpose of providing sufficient spending authority for the aforementioned project expenditure.
4. EMERGENCY DESIGNATION
The Department of Public Service is requesting emergency designation in order to allow the Director of the Department of Public Service to immediately execute a Construction Guaranteed Maximum Reimbursement Agreement, which is necessary to facilitate the construction of these improvements to maintain the project schedule and meet community commitments.
Title
To amend the 2015 Capital Improvement Budget; to authorize the City Auditor to transfer cash and appropriation between projects within the Streets and Highways Bond Fund; to authorize the Director of Public Service to enter into a Construction Guaranteed Maximum Reimbursement Agreement with The Annex at River South II, Ltd.; to authorize the expenditure of up to $260,000.00 from the Streets and Highways Bond Fund to pay for the agreement; and to declare an emergenc...
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