Explanation
1. BACKGROUND
This legislation authorizes the Director of the Department of Public Utilities on behalf of the City of Columbus, Ohio (the “City”) to enter into a Construction Guaranteed Maximum Reimbursement Agreement with The Gravity Project, LLC, an Ohio limited liability company, (hereinafter the “Development Team”). The Gravity Project, LLC, is an affiliate of Kaufman Development.
The Development Team shall abandon an existing sanitary sewer located within the limits of vacated Broderick Street between N. May Avenue and the CSX property, and the relocate it into Broad Street. The relocation includes construction of sanitary sewer and installation of four six-inch lateral to allow connection by the future private development north of Broad Street. The City agrees to reimburse the Development Team up to five hundred thousand dollars ($500,000) to aid in the cost of the relocation.
2. CONTRACT COMPLIANCE INFORMATION
The contract compliance number for The Gravity Project, LLC is 021278 with no expiration date.
3. FISCAL IMPACTS
Funds in the amount of five hundred thousand dollars ($500,000.00) are available for this project in the Streets and Highways G.O. Bonds Fund under the Department of Development. An amendment to the 2016 Capital Improvements fund is necessary for the purpose of providing sufficient spending authority for the aforementioned project expenditure.
4. EMERGENCY JUSTIFICATION: Emergency action is requested so that the project can continue without delay.
Title
To amend the 2016 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 the Department of Public Utilities to enter into a Construction Guaranteed Maximum Reimbursement Agreement with The Gravity Project, LLC; to authorize the expenditure of five hundred thousand dollars ($500,000.00) within the Streets and Highways G.O. Bonds Fund; and to de...
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