Fiscal Note
The proposed resolution approves the addendum to the development contract for an expanded project scope. The cost of the addendum may result in an amount not to exceed $5,000, which can be provided by the City via sufficient authorized funding within the Engineering Major Streets Rural to Urban capital program as adopted in the 2017 capital budget.
MUNIS:
11136-402-170: 54410 (96339)
Title
Approving Addendum No. 2 to Village at Autumn Lake, Surface Paving and authorizing construction to be undertaken by the Developer, Private Contract No. 7605. (17th AD)
Body
WHEREAS, the developer, VAL, LLC, has entered into a Contract For the Construction of Public Improvements To Be Accepted by the City of Madison Village At Autumn Lake - Surface Paving, hereinafter the “Contract” with the City of Madison, and;
WHEREAS, the Developer will be constructing public improvements in Phase 4 which will expand the scope of work for the project to include Village at Autumn Lake surfacing paving in Phases 1, 2 and 4; and;
WHEREAS, the Developer shall provide a bond rider to amend the original surety or provide new surety to provide surface paving to serve Phases 1, 2 and 4 in Village at Autumn Lake.
NOW, THEREFORE, BE IT RESOLVED:
1. That the Mayor and City Clerk are hereby authorized and directed to execute Addendum No. 2 to Village at Autumn Lake, Surface Paving, Contract No. 7605, with VAL, LLC.
2. That the plans and specifications for the surface pavement necessary to serve this subdivision are hereby approved.
3. That the developer is authorized to construct the surface pavement in accordance with the terms of the Contract For the Construction of Public Improvements That Will be Accepted by the City of Madison at the sole cost of the developer, except as follows: Reimbursement not to exceed the statutory limit for the cost of street improvements that benefit the City and abut lands owned by the City, in accordance with Section 16.23(9)(d)(6)(d).
4. That ...
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