AgdaPkt 2003-07-21 - Laserfiche WebLink

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eAd REPORT To the Honorable Mayor and City Council and the Redevelopment Agency Board From the City Manager July 21, 2003 Subject Amendment No. 2 to the Construction and Reimbursement Agreement for Relocation of a Reinforced Concrete Box Culvert in the Downtown Area Recommendation Approve and authorize execution of Amendment No. 2 to the Agreement with BHV Innisfree Ventures I, LLC (Developer) for approving the asbestos abatement and demolition of existing buildings on the western end of Block 1, at an estimated cost of $50,000. Background On February 24, 2003, the City and the Redevelopment Agency authorized the City Manager and Redevelopment Director to enter into a. Construction and Reimbursement Agreement with the Developer for the relocation of a reinforced concrete box culvert. The Developer's contractor, Power's Engineering Contractors, has completed approximately 65% of the culvert, but cannot proceed due to the conflict with the existing vacant buildings that the City and Agency have acquired. Due to the critical nature of completing the culvert before the winter rains, and staying on schedule for the "On Broadway" project, the vacated buildings in the path of the culvert need to be cleared of asbestos and demolished. The work will be preformed by the Developer's contractors, and paid by the City. This cost will be reimbursed by the Developer to the City /Agency not later than the close of escrow for developer's acquisition of the air rights over the garage. Alternative Council can elect to not approve Amendment No. 2, which would delay the "On Broadway" project. Fiscal Impacts Funds in the amount of $50,000 are available in the Redevelopment Agency's $2 Million carryover Retail- Cinema Account. The Agency will be reimbursed by the developer at a later date. Brian Lee Bruce Liedstrand Ed Everett _ Senior Civil Engineer Community Development Services Director City Manager BL ss S /library/reports/brian /Amendment No. 2 RCBC