Fiscal Note
These estimates are preliminary at this point. An updated 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 - Phase I.
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.
This Project Agreement shall authorize the payment for oversight and review, which shall be funded in the 2010 Capital Budget project 810625:
Oversight and Review
Cost: $35,000
State/Federal Cost $28,000
City Cost $7,000
The total construction cost shall be covered in the 2011 Capital Budget:
Total Cost: $4,972,003
Total State/Federal Cost: $3,121,651
Total City Cost: $1,850,352
Title
SUBSTITUTE Authorizing the Mayor and City Clerk to execute an agreement with the State of Wisconsin Department of Transportation for the improvement of Central Park - Phase I with the use Federal grant money for the construction of the park.
Body
PREAMBLE
The City is proposing construction of Phase I of the Central Park project, an urban park located in the East Isthmus Corridor on the near east side. Phase I of the Central Park project includes the area known as the Great Lawn, the Gateway Crossing of the rail road tracks and preliminary grading of the Skate Park. The Skate Park will not be designed or constructed at this time. The City has received a Federal grant for the construction of this project. Those funds will be applied to Phase I construction (approximately $3.1 million). The design will be funded with local funds. Funds for design are included in the 2009 and 2010 Capital Budget. Funds for the construction of this project will be available in the 2011 Capital Budget.
WHEREAS, The project ...
Click here for full text