Explanation
1. BACKGROUND
This ordinance authorizes the Department of Public Service to perform construction administration and inspection services relative to the East Dublin-Granville Improvements project (the “Project”) and the encumbrance and expenditure of up to $282,110.01 to support those activities.
Administered by Hamilton Crossing LLC (the “Developer”), the aforementioned project encompasses the reconstruction of East Dublin-Granville Road from Hamilton Road to a point 2,300’ east of Hamilton Road, the construction of a roundabout at the intersection of East Dublin-Granville Road and Albany Park Drive, and various other public infrastructure improvements.
Ordinance 0507-2018 authorized the Director of Public Service to execute a Construction Guaranteed Maximum Reimbursement Agreement, effective April 19, 2019, with the Developer, whereby the City agreed to reimburse the Developer for eligible construction costs.
The purpose of this legislation is to provide funding for costs associated with the inspection and acceptance of the aforementioned improvements by the Department of Public Service.
2. FISCAL IMPACT
Funding in the amount of $282,110.01 is available within the Northeast Preserve Incentive TIF Fund, Fund 7438. An amendment to the 2019 Capital Improvement Budget is necessary for the purpose of providing sufficient spending authority for the aforementioned project expenditure. Funds will also need to be appropriated and transferred within Fund 7438 to the proper project.
3. EMERGENCY DESIGNATION
Emergency action is requested so as to prevent unnecessary delays in the completion of planned improvements.
Title
To amend the 2019 Capital Improvement Budget; to authorize the transfer of cash and appropriation between projects within the Northeast Preserve Incentive TIF Fund; to authorize the appropriation of $282,110.01 within the Northeast Preserve Incentive TIF Fund; to authorize the expenditure of up to $282,110.01 from the Northeast ...
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