Explanation
1. BACKGROUND
This ordinance authorizes the Director of Public Service to enter into agreements with and to accept contributions from Metro Development LLC, an Ohio limited liability company (the “Developer”), relative to the construction of the Roadway Improvements - Hamilton Road Extension - Central College to Walnut Road project (the “Project”). This ordinance also authorizes the Department of Public Service to accept and expend additional deposits from the Developer (if necessary), and authorizes the City Auditor to appropriate these additional deposits and establish auditor certificates for the expenditure of these funds at the request of the Director of Public Service without submitting additional legislation.
The Project encompasses various improvements to Hamilton Road and Central College Road: widening Hamilton Road to the south of Central College Road and extending Hamilton Road approximately 1,100 feet to the north of Central College Road; widening Central College Road for development of turn lanes at the Hamilton Road intersection and at the intersection of High Rock Drive; and installing a new span wire traffic signal at the intersection of Hamilton Road and Central College Road. Other improvements include sidewalk, shared use path, new waterline, storm sewer trunk line, lighting, and pedestrian facilities.
The Developer is developing a residential development west of Hamilton Road and recently commissioned the construction of a new right-in, right-out, entry drive to permit ingress and egress from that location and to support the flow of traffic on North Hamilton Road (the “Additional Improvements”). The City and the Developer are engaged in a Public Private Partnership (3P) to facilitate the construction of the Additional Improvements, which will be funded by a contribution from the Developer in an amount currently estimated to be $51,075.00. The final amount of the contribution may increase once the work begins if the actual cos...
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