For City Council Meeting [June 11, 2019]
TO: Honorable Mayor and City Council
APPROVAL: Sean Grayson, Interim City Administrator
FROM: Robb Steel, Assistant CA/Development Services Director
Title
Request City Council to Accept Public Improvements, Approve GASB 34 Report for the Project, Authorize Release of Final Payment Request for $531,591.59 all related to the Miro Way Improvement Project, and Certify Final Project Costs of $11,735,342.53.
(ACTION)
Body
BACKGROUND:
On March 24, 2015, the City adopted Resolution No. 6694 approving a Construction Reimbursement Agreement with Lewis-Hillwood Rialto Company, LLC ("LHR"). On September 8, 2015, the City Council adopted Resolution No. 6822 approving the Amended and Restated Construction Reimbursement Agreement ("LHR Construction Agreement") for construction of the Miro Way Improvement Project ("Project"). The LHR Construction Agreement authorized LHR to bid, award contract(s), manage and construct the Project in accordance with procedures established in the LHR Construction Agreement. The Project included sewer, water, storm drain, roadway and dry utility improvements. The City monitored the bidding process to ensure competitive bidding and fair pricing. LHR reviewed, approved and submitted all payment requests and invoices to the City for payment processing. The executed Amended and Restated Construction Reimbursement Agreement is attached hereto as Exhibit A.
On June 26, 2015, the City deposited the amount of $8,120,000 in the MWI Escrow Account. The deposit represented contributions from the Drainage Development Impact Fee ($5,724,000), Regional Traffic Development Impact Fee ($524,000), and the Wastewater Collection Development Impact Fee ($1,872,000). On October 28, 2015, the City deposited the balance of funding from the Airport Escrow Account ($5,551,780). The total deposited funds equal $13,671,780.
In accordance with various development agreements, Panattoni subsequently contributed the ...
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