Explanation
1. BACKGROUND
This ordinance authorizes the establishment of an Auditor’s Certificate to provide for construction administration and inspection cost overruns incurred during the completion of the 500 West Broad Streetscape project.
Constructed through a public-private partnership between the City of Columbus and The Gravity Project LLC, an affiliate of Kaufman Development (the “Development Team”), the 500 West Broad Streetscape project encompassed various improvements to Broad Street and May Avenue, including: installation of two loading zones on Broad Street east of May Avenue and one loading zone on May Avenue north of Broad Street; construction of new curb, sidewalk and street lighting on the north side of Broad Street and the East side of North May Avenue; and installation of a new mast arm signal at the intersection of Broad Street and North May Avenue and new pavement markings on Broad Street and North May Avenue.
Ordinance 3031-2018 authorized the Director of Public Service to enter into a Construction Guaranteed Maximum Reimbursement Agreement with the Development Team, wherein the City agreed to subsidize a portion of the construction costs by reimbursing the sum of $636,345.00 to the Development Team, provided that the Development Team assume and bear all construction administration and inspection costs incurred during the completion of the aforementioned project. Pursuant to that agreement, the Development Team deposited $85,856.61, which represented the estimated cost of said services, with the City Treasurer for that purpose, and Ordinance 0983-2019 authorized the Director of Public Service to accept and expend those funds.
However, upon performing final accounting following the acceptance of the aforementioned improvements earlier this spring, the Department of Public Service determined it was owed the additional sum of $27,553.78 by the Development Team for performing construction administration and inspection services and withheld...
Click here for full text