TO: LINDA REICH, CITY MANAGER
FROM: HYE JIN LEE, PE, DIRECTOR OF PUBLIC WORKS
SUBJECT
title
Amendment to the Construction Reimbursement Agreement with LS College Park, LLC for the design/construction of public improvements on Edison Avenue between Central Avenue to Oaks Avenue in the amount of $2,500,000 for a total contract amount not to exceed $16,200,000.
end
RECOMMENDATION
recommendation
1) Appropriate $2,500,000 to the Transportation Fund (320 Fund) and schedule a corresponding year-end transfer from the Citywide Circulation (Streets, Signals, & Bridges) Development Impact Fee program (220 Fund); 2) increase the project budget for ST163, Edison Avenue between Central and Oaks Avenues, by $2,500,000 bringing the total project budget to $16,200,000; 3) approve an amendment to the construction reimbursement agreement with LS College Park, LLC for the design and construction of public improvements on Edison Ave between Central Avenue and Oaks Avenue, increasing the agreement amount by $2,500,000, for a total not to exceed $16,200,000; and 4) authorize the City Manager to execute all the necessary documents of behalf of the City.
body
FISCAL IMPACT
Requires an appropriation to the Transportation Fund. There is sufficient balance in the Citywide Circulation (Streets, Signals, & Bridges) Development Impact Fee program (220 Fund) for the year end transfer of $2,500,000 to offset the costs to the Transportation Fund (320 Fund). There is no fiscal impact to the General Fund with the approval of this amendment.
Funding Type
Budget
Expenditures
Remaining
Successor Agency Funds
$ 8,431,000
$ (8,431,000)
$ -
Measure I CPNA
$ 2,000,000
$ (342,463)
$ 1,657,537
Citywide Circulation DIF
$ 5,769,000
$ -
$ 5,769,000
Total
$ 16,200,000
$ (8,773,463.43)
$ 7,426,537
CITY OF CHINO MISSION / VISION / VALUES / STRATEGIC ISSUES
The recommenda...
Click here for full text