Fiscal Note
A construction cost estimate shall be provided in a future resolution for approving the plans and specifications and authorizing the City to let the construction contract for Central Park. The original City share for Oversight and Review was originally approved by RES-10-00226, ID No. 17536.
The proposed indemnification language in the Project Agreement has been reviewed by the Risk Manager. While the City’s risk exposure is increased by this agreement, the exposure is covered by the City’s insurance policy subject to its terms and conditions. Any impact on costs would not be immediately known.
The Project Agreement for Construction of Central Park shall authorize the payment, which shall be funded in the 2012 Capital Budget project 810625:
Estimated Construction Cost:
Total Project Cost: $ 3,922,947
State/Federal Cost $ 2,602,947
Park Fees $ 50,000
City Cost $ 1,270,000
Title
Authorizing the Mayor and City Clerk to execute a Project Agreement for Construction of Central Park with the State of Wisconsin Department of Transportation with the use Federal grant money .
Body
PREAMBLE
The City is proposing construction of the Central Park project, an urban park located in the East Isthmus Corridor on the near east side. City has received approximately $3.1 million from a Federal grant for the construction and land acquisition for this project. The design will be funded with local funds. Funds for design were included in the 2011 Capital Budget. Funds for the construction of Phase I of this project are available in the 2012 Capital Budget.
WHEREAS, A Project Agreement between the City and the Wisconsin Department of Transportation will be required for construction of the park as well as for administration of the Federal funds by the Wisconsin Department of Transportation, and,
WHEREAS, Resolution RES-11-00180, ID 21245 has previously approved a Project Agreement between the City and the Wisconsin Department of Transportation for ...
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