Explanation
1. BACKGROUND
This ordinance authorizes: 1) the Director of Public Service to enter into agreements with Easton Town Center II, LLC (Easton Town Center) relative to the completion of Resurfacing - 2022 Project 1, and 2) to accept contributions from Easton Town Center relative to that effort; 3) the City Auditor to appropriate funds received from Easton Town Center for Resurfacing - 2022 Project 1 and to establish Auditor Certificates as needed to expend the funds; 4) the Director of Public Service to expend funds received from Easton Town Center for Resurfacing - 2022 Project 1, and 5) to provide a refund, as necessary, to Easton Town Center after final accounting has been performed or after the Department of Public Service, Division of Design and Construction, certifies that any funds remaining on deposit are no longer needed for the project and can be refunded.
Resurfacing - 2022 Project 1 encompasses repairing 96 City streets and constructing 396 ADA curb ramps along those streets. As part of that effort, the Department of Public Service has agreed to install ADA curb ramps and pavement markings at four intersections adjacent to Easton Town Center:
· Easton Loop and Charter Oak Way
· Easton Loop and Easton Station
· Easton Loop and Townsfair Way
· Easton Loop and Worth Avenue
Easton Town Center will contribute funding to defray construction and inspection costs incurred during the completion of improvements for these intersections.
2. FISCAL IMPACT
Based on preliminary cost estimates, Easton Town Center has agreed to deposit $30,682.00 with the City to support its share of anticipated construction and inspection costs incurred during the completion of Resurfacing - 2022 Project 1, with the understanding that the actual amount owed for that work may vary based on final quantities and costs. An amendment to the 2021 Capital Improvement Budget and the appropriation of $30,682.00 within the Street & Highway Improvement Non-Bond Fund are necessary ...
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