Explanation
1. BACKGROUND
This ordinance seeks authorization for the Director of Public Service to execute a second amendment to the Construction Guaranteed Maximum Reimbursement Agreement (“CGMRA”) with Edwards Communities Construction Company, LLC (the “Developer”) relative to the NCR Weinland Park (7th to 9th) project (the “Project”).
Pursuant to Ordinance 0981-2017, the City and the Developer entered into the CGMRA, effective May 22, 2017, whereby the City agreed to reimburse the Developer up to $550,000.00 for eligible construction costs incurred during the completion of the Project. However, the lowest, responsive, responsible, and best bid to construct the Project substantially exceeded earlier cost estimates, and pursuant to Ordinance 1180-2017, the City and the Developer modified the existing CGMRA to fund the increased cost of construction in the amount of $351,456.00.
This is an unplanned modification. During the course of construction additional costs have been identified and incurred relative to the stormwater revisions, utility relocation, and other aspects of the Project, making it necessary to execute a second modification and to authorize the expenditure of additional monies to pay for those costs.
This ordinance authorizes the Department of Public Service to modify the CGMRA with the Developer in the amount of $75,000.00, for a total expenditure of $976,456.00 to facilitate the completion of the Project.
Original CGMRA: $550,000.00 (Ord 0981-2017, PO077517)
Modification No. 1: $351,456.00 (Ord 1180-2017, PO077540)
Modification No. 2: $75,000.00 (This Ordinance)
Total CGMRA Amount, including all modifications: $976,456.00
2. CONTRACT COMPLIANCE INFORMATION
Edwards Communities Construction Company, LLC currently does not have a valid contract compliance number and will be required to become contract compliant before this agreement is fully executed.
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