Explanation
BACKGROUND: This legislation authorizes the Director of Public Utilities to enter into a Guaranteed Maximum Reimbursement Agreement GMRA) with the Homewood Corporation for the Big Walnut Sewer Trunk, Central College Road project, pursuant to Section 186 of the Columbus City Charter. The project will include extension of the Central College Subtrunk sewer from its current terminus just east of the intersection of Central College Road and Course Drive to just east of Hamilton Road, and north into the proposed Homewood Development. The project consists of 5,474 linear feet of sewer installation ranging in size from 30-in diameter to 12-in diameter. This project consist of two parts: Part 1 - West - North of the Central College / Hamilton Intersection (estimated cost: $4,800,946.81) and Part 2 - East of Hamilton (estimated cost: $1,842,905.00).
Upon passage of this Ordinance, the City of Columbus will agree to pay a guaranteed maximum reimbursement of up to $6,643,851.81 to the Homewood Corporation for the Central College Big Walnut Subtrunk Project. 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 Homewood Corporation 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.
DESIGNATION: An emergency designation is not requested for this legislation.
CONTRACT COMPLIANCE NO.: 31-0685947 | Exp. 08/20/2017 | MAJ | Vendor # 004216
FISCAL IMPACT: This ordinance authorizes the appropriation and transfer of $6,643,851.81 from the Sanitary Sewer Reserve Fund to the Sanitary Sewer General Obligation (G.O.) Bond Fund, Fund 6109; to authorize the expenditure of up to $6,643,851.81 from the G.O. Bond Fund, Fund 6109 and amend the 2016 Capital Improvements Budg...
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