Label
2% Funds for Marina District Sanitary Sewer Project
Economic Development / Engineering Services
B. Sehlhorst (x1692) / C. Soncrant (x2851)
(Revised)
Title
Approving the use of the Sanitary Sewer Infrastructure Development Fund (2% Fund) to pay for the additional cost associated with the installation of a sanitary sewer line within the City of Toledo right-of-way for the Marina District project; authorizing the mayor to enter into the necessary agreements; appropriating and expending an amount not to exceed $32,011 from the unappropriated balance of the Sanitary Sewer Infrastructure Development Fund (2% Fund); and declaring an emergency.
Body
SUMMARY & BACKGROUND:
Pursuant to Ordinance 530-17 passed by Toledo City Council on December 14, 2017, the Mayor entered into a Development Agreement with Continental Real Estate ("Developer") for the $55 million Marina District project in East Toledo. The Ordinance and development agreement authorized the expenditure of $120,000 from the Sanitary Sewer Infrastructure Development Fund (2% Fund) to fund the construction of a new sanitary sewer on Morrison Drive. Now that the project is complete, it has been brought to the City's attention that the final cost of the sanitary sewer project was $32,011 more than what Ordinance 530-17 appropriated.
The City would like to reimburse the developer for the $32,011 cost overage incurred from the sanitary sewer project. The reimbursement will come from the unappropriated balance of the Sanitary Sewer Infrastructure Development Fund (2% Fund).
Summary
NOW, THEREFORE, Be it ordained by the Council of the City of Toledo:
SECTION 1. That this Council approves the use of the Sanitary Sewer Infrastructure Development Fund (2% Fund) to reimburse the developer for eligible costs incurred from the installation of a new sanitary sewer in the Morrison Drive right-of-way in an amount not to exceed $32,011.
SECTION 2. That the Mayor is authorized to exec...
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