Explanation
1. BACKGROUND
The purpose of this ordinance is to authorize the Director of Public Service to modify a Construction Guaranteed Maximum Reimbursement Agreement (CGRMA) with Coulter Properties, LLC and Coulter Ventures, LLC dba as Rouge Fitness (Coulter Properties) to provide for the reimbursement of additional work associated with the NCR - Milo Grogan and Miscellaneous Economic Development - Weinland Park Phase 3A projects currently being completed by the City.
The aforementioned capital improvement projects consist of improvements to Cleveland Avenue from New York Avenue to just north of Starr Avenue and Fifth Avenue from Grant Avenue to I-71 ramps in support of the $32 million redevelopment of the former Timken site by Coulter Properties.
Ordinance No. 3048-2015 previously authorized the Director of Public Service to enter into a CGMRA with Coulter Properties in the amount of up to $150,000.00 for the installation of a stormwater quality device to treat stormwater runoff from within the public right-of-way as part of its redevelopment of the Timken site.
This legislation provides for the reimbursement of eligible costs incurred by Coulter Properties for additional work related to the southern approach of the Timken site, which includes the installation of new sidewalks, curbs, and curb ramps. The Department of Public Service has committed up to $48,000.00 toward those costs, bringing the total value of the amended CGRMA to $198,000.00.
2. CONTRACT COMPLIANCE INFORMATION
The contract compliance number for Coulter Properties, LLC is 26-8707426 and expires November 17, 2017.
3. FISCAL IMPACTS
Funds in the amount of $48,000.00 are available for this project in the Streets and Highways G.O. Bond Fund within the Department of Public Service.
4. EMERGENCY DESIGNATION
Emergency action is requested to allow the construction of planned improvements to proceed immediately, thereby allowing the City and Coulter Properties to maintain the current ...
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