TO: LINDA REICH, CITY MANAGER
FROM: HYE JIN LEE, PE, DIRECTOR OF PUBLIC WORKS
SUBJECT
title
Amendment No. 2 to the Construction Reimbursement Agreement and Partial Acceptance of Improvements for the Ontario Ranch Business Park Project (referred to as the REDA Project) - Merrill Avenue Widening, Interconnect, and Euclid Avenue Median Improvements Project R2501.
end
RECOMMENDATION
recommendation
1) Accept the completed portions of the public improvements associated with the Merrill Avenue widening and Euclid Avenue improvements; 2) approve a budget increase for Project R2501 – Merrill Avenue Widening, Interconnect, and Euclid Avenue Median Improvements for the remaining change order work and landscaping on Merrill Avenue, increasing the project budget by $984,250 for a revised total project budget not to exceed $18,677,118; 3) appropriate $868,150 to Transportation Fund 320 and approve an immediate budget transfer in the same amount from The Preserve Circulation Development Impact Fee Fund (Fund 260); 4) appropriate $116,100 from the Euclid Ave. Relinquishment Program; 5) approve an Amendment No. 2 to the Construction Reimbursement Agreement between the City of Chino and Euclid Land Venture, LLC, a Delaware limited liability company, increasing the reimbursement amount by $984,250 for a total not-to-exceed amount of $18,677,118; and 6) authorize the City Manager to execute all the necessary documents on behalf of the City.
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FISCAL IMPACT
Increase the Project R2501 budget by $984,250, with corresponding budget transfers of $868,150 from The Preserve Circulation Development Impact Fee Fund 260 and an appropriation of $116,100 from the Euclid Ave Relinquishment Reserves Program. Sufficient funds are available in all the funds listed below for this purpose.
Funding Source
Current Budget
Appropriation-Amendment
Revised Budget
Scannell Deposit (Fund 320-35335)
$ 4,764,984
$ -
$ 4,764,984
Preserve DIF (Fund 260)
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