Explanation
1. BACKGROUND
This ordinance seeks authorization for the Director of Public Service to enter into a Construction Guaranteed Maximum Reimbursement Agreement with SID Public Services Association doing business as Capital Crossroads Special Improvement District (the “Developer”) for construction work associated with the Alley Rehabilitation - Downtown SID Improvements project.
The City is currently in the process of completing the construction work along Lynn and Pearl alleys. The scope of the project is required to be revised in order to accommodate additional construction items needed to complete the project and ensure appropriate safety measures are implemented within the public right-of-way. The Developer will initially pay for the costs of these items in order to complete the project and the City will reimburse the Developer for the items. The estimated cost for the construction of the additional items is $143,165.31.
2. FISCAL IMPACT
Funding in the amount of $143,165.31 is available for this project in the Streets and Highways Bond Fund within the Department of Public Service. An amendment to the 2017 Capital Improvement Budget is necessary for the purpose of providing sufficient spending authority for the aforementioned project expenditure.
3. EMERGENCY JUSTIFICATION
Emergency legislation is required to allow for immediate execution of the Construction Guaranteed Maximum Reimbursement Agreement, which is necessary to facilitate the construction of the public infrastructure project to maintain the project schedule and to coincide with the established development timeline.
Title
To amend the 2017 Capital Improvements 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 SID Public Services Association, dba the Capital Crossroads Special Improvemen...
Click here for full text