Explanation
1. BACKGROUND
This legislation authorizes the Director of Public Service to execute a Contribution Agreement with NWD Investments, LLC (NWD) relative to work performed pursuant to the Bridge Rehabilitation - Annual Citywide Contract (2019).
Each year, the Department of Public Service administers an annual citywide bridge maintenance project which provides for the rehabilitation of bridges within the City of Columbus. The scope of work to be performed pursuant to the Bridge Rehabilitation - Annual Citywide Contract (2019) encompasses necessary improvements to the Ludlow Alley pedestrian bridge.
The City and NWD previously executed a Tax Increment Financing Agreement, effective September 17, 2009, for the purpose of funding public infrastructure improvements in the Arena District. Pursuant to that agreement, NWD has agreed to pay construction costs associated with the rehabilitation of the Ludlow Alley pedestrian bridge. Said expenses are eligible for reimbursement from the Arena TIFs.
2. CONTRACT COMPLIANCE
The contract compliance number for NWD Investments, LLC is CC005598, which expires October 2, 2020.
3. FISCAL IMPACT
NWD has agreed to deposit the sum of $273,803.00 with the City Treasurer to support necessary improvements to the Ludlow Alley pedestrian bridge and shall be reimbursed from the Arena TIFs pursuant to the existing TIF Agreement.
4. EMERGENCY DESIGNATION
Emergency action is requested to facilitate the execution of the aforementioned contribution agreement and the receipt and expenditure of requisite construction funding as soon as reasonably practicable so as to prevent unnecessary and avoidable delays in the completion of needed public infrastructure improvements.
Title
To authorize the Director of Public Service to execute a Contribution Agreement with and to accept funding from NWD Investments, LLC relative to work performed pursuant to the Bridge Rehabilitation - Annual Citywide Contract (2019); and to declare an eme...
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