AgdaPkt 2003-03-24 - Laserfiche WebLink

Browse Search

Cv•Z E -Z professional liability insurance, and budget estimates. These changes are still within the normal requirements of the City for similar agreements. The overall cost of the project remains the same, $3.7 million. The schedule for construction of the new culvert is expected to be from approximately March 25, 2003 to November 1, 2003 and is subject to the acquisition by the City of certain properties. The work will begin in the public parking lot (Main Street lot) located behind the Post Office and City Hall and in the driveway between the two aforementioned properties. It is anticipated that Jefferson Ave. may need periodic lane closures during the months of June to August 2003 to allow for the culvert to cross (at a right angle) and relocation of PG&E and PacBell facilities. The culvert will then continue through Block One and connect to the existing culvert in the vicinity of the Middlefield and Winslow intersection. This segment will be completed in conjunction with the excavation for the underground public parking garage. Public notices have been sent out and flyers have been placed on vehicles in the Main Street parking lot to inform the businesses and citizens of the impact to parking. Continued public parking announcements will be made on the progress of the project as well as furnishing a telephone "hotline" number for responding to the public's inquiries. Alternatives 1. Do not amend the construction and reimbursement agreement with BHV Innisfreee Ventures I, LLC. In this case, the culvert and the proposed underground public parking structure under Block One could not be constructed because some of the terms of the agreement could not be fulfilled. 2. Do not approve the appropriation of the necessary funds in which case the culvert could not be constructed. 3. Direct staff to seek alternative solutions. Fiscal Impact The estimated cost of constructing a new culvert is approximately $3.7 million. The funding for this will be included in the Redevelopment Agency bond issuance for the underground public parking garage and other downtown projects. The initial cash outlay for this cost will be provided from the $20 million that the City loaned to the Agency. This will be paid back from the proceeds of the future bond issuance. 1 1 Patricia J. Webb —t Economic Development Coordinator Liedstrand Director Michael Church Executive Director i Ed Everett City Manager Attachments: First Amendment to the Construction and Reimbursement Agreement Resolution Appropriating Funds K