For City Council Meeting [October 22, 2019]
TO: Honorable Mayor and City Council
APPROVAL: Rod Foster, City Administrator
FROM: Sean Grayson, Acting Public Works Director
Title
Request City Council to Accept Public Improvements, Approve GASB 34 Report for the Project, Authorize Release of Final Payment of $137,864.63 all related to the Renaissance Parkway East Improvement Project, and Certify Final Project Costs of $3,354,399.80.
(ACTION)
Body
BACKGROUND:
On March 28, 2017, the City approved a Construction Reimbursement Agreement by and between the City of Rialto and Ayala and 210 Partners ("Developer"). On January 23, 2018, the City Council approved Amendment #1 to the Construction Reimbursement Agreement (collectively, the Construction Reimbursement Agreement and the Amendment #1 are the "Agreement"). The Agreement authorized the Developer to bid, award contract(s), manage and construct the Renaissance Parkway improvements situated east of Ayala Drive along the frontage of the Renaissance Plaza development in accordance with procedures established in the Agreement ("Project"). 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. The Developer reviewed, approved, and submitted all payment requests and invoices to the City for payment processing. The original Agreement and Amendment #1 are attached hereto as Exhibit A and Exhibit B, respectively.
On February 20, 2018, the City deposited $3,806,718 in a third-party escrow account administered by First American Trust ("FSB"). The deposit represented contributions from the Drainage Development Impact Fee ($200,915), Regional Traffic Development Impact Fee ($1,958,795), RSA Bond Funds ($1,234,282), Water Development Impact Fee ($202,625), and the Wastewater Collection Development Impact Fee ($210,101).
ANALYSIS/DISCUSSION:
The Developer first bid and then awarded the various cons...
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