Fiscal Note
Private Contract, No City Funds Are Required.
Title
Accepting street and terrace improvements constructed by Private Contract in Park and Regent Redevelopment PUD Street PUD, Private Contract No. 2223. (8th AD)
Body
WHEREAS, Park and Regent Development, LLC has satisfactorily completed the installation of street and terrace improvements (including incidental storm sewer improvements) by private contract, in accordance with the City of Madison Standard Specifications for Public Works Construction, in: Park and Regent Redevelopment PUD.
NOW, THEREFORE, BE IT RESOLVED
1. That said street and terrace improvements (including incidental storm sewer improvements) be and are hereby accepted.
2. That the street and terrace on the following streets be and are hereby accepted:
· N. Park Street from Regent Street to College Court
· Regent Street from N. Park Street to 110 ft west
· College Court from N. Park Street to 140 ft west
The attached Schedule "A" representing the actual cost of construction of these improvements, which shall increase the street infrastructure value for Project No. 53B2223 $44,170.00 for a useful life of 40 years.