Explanation
1. BACKGROUND
This ordinance authorizes the Director of Public Service to execute a construction reimbursement agreement with and to accept deposits from NWD Investments to be used for construction inspection and administration for the Miscellaneous Economic Development - Hamilton Parker Phase 1 project, to establish an Auditor Certificate Direct Invoice (ACDI) for the payment of construction inspection and administration services for the project, and to expend funds relative to the project on construction inspection and administration. It also authorizes the refund of any unused funds deposited by NWD Investments for construction inspection and administration for this project upon the completion of final accounting for the Miscellaneous Economic Development - Hamilton Parker Phase 1 project or when the Department of Public Service determines remaining funds are no longer needed for construction inspection and administration for the project.
Per Ordinance 2043-2019, the City is engaged in a Public-Private Partnership (3P) with NWD Investments to facilitate the construction of widening and resurfacing Vine Street from approximately 600 feet west of Neil Avenue to Armstrong Street, Neil Avenue from Vine Street to Spruce Street, Spruce Street from Neil Avenue to Armstrong Street, and Kilbourne Street from Convention Center Drive will be resurfaced. Improvements consist of storm sewer, water main, curb, sidewalks, raised planters, pervious pavers, brick veneer retaining wall, street lighting, and electric duct bank.
NWD Investments will oversee the construction of those public infrastructure improvements and has deposited funds with the Department of Public Service that will be used for construction inspection and administration, to be performed by the Department of Public Service, for the Miscellaneous Economic Development - Hamilton Parker Phase 1 project. It is necessary to establish an ACDI to allow the funds to be expended for that purpose. It a...
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