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<br />REQUEST FOR COUNCIL ACTION <br />Date: June 6, 2022 <br />Item No.: 10.g <br />Department Approval City Manager Approval <br />Item Description: Amend Midland Legacy Estate Improvement Contract <br />1 D ISCUSSION <br />2 On March 3, 2022, Council approved the Public Improvement Contract (PIC) related to the Midland <br />rd <br />3 Legacy Estate 3Addition. The developer has requested the PIC be amended since the cost estimate <br />4 has changed. The new costs presented by the developer reduces the public improvement cost from <br />5 $379,500.00 to $303,336.00. As such, the escrows and engineering fees are reduced. Staff has <br />6 amended the contract with these changes. These are the only changes to the PIC. <br />7 The public improvements detailed in the PIC include re-alignment of County Road B and Eustis <br />8 Street, installation of a pathway adjacent to the development on County Road B and Eustis Street, <br />9 installation of new storm sewer, installation of new water and sewer mains to serve the new homes. <br />10 The details of such improvements are specified in the Public Improvement Contract (Attachment A) <br />11 and shown in the plans (Attachment B). <br />12 All work would be done through the developer’s contractor. All costs for the improvements would <br />13 be paid by the developer. The estimated cost of construction of the public infrastructure is <br />14 $303,336.00. The developer will provide a financial security in the amount of 125% of the <br />15 estimated cost of construction, $379,170.00,in the event the developer fails to perform. <br />16 The City will oversee the construction. The developer will pay the City $12,133.44 for these <br />17 inspection services. <br />18 The public improvements are planned to be completed by October 1, 2022. <br />19 F INANCIAL I MPLICATIONS <br />20 The estimated cost of these improvements, based on figures provided by the developer, is <br />21 approximately $303,336.00. The developer will provide a financial security in the amount of 125% <br />22 of the estimated cost of construction, $379,170.00. <br />23 The contract, as presented, has the developer paying for all the costs of the improvement including: <br />24 design, inspection, construction and City staff time related to the improvement. The developer will <br />25 pay the City $12,133.44 to cover staff time overseeing the project. <br />26 S TAFF RECOMMENDATION <br />27 Staff recommends that Council approve the amended Midland Legacy Estate Public Improvement <br />28 Contract. <br />Page 1 of 2 <br /> <br />