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REQUEST FOR COUNCIL ACTION Date: April 10, 2023 Item No.:10.g Department ApprovalCity Manager Approval Item Description:Approve Lexington Plaza Project Agreementat 1754 Lexington Avenue 1 B ACKGROUND 2 As part of the Lexington Plaza Site Redevelopment,located at 1754 Lexington Avenue, the 3 developer, Lexington Plaza, LLC, has worked with the City to develop a project agreementrequired 4 for partial reconstruction of the south side of Roma Avenue adjacent to the project. As part of the 5 project, perpendicular parking within the roadway and private property will be removed and the 6 street will be reconstructed with new curb and gutter matching the cross section of Roma Avenue. 7 Additionally, new public sidewalk improvements will be constructed as part of the site 8 redevelopment. The new sidewalk will be constructed on the south side of Roma Avenue, from the 9 building’s driveway to the alley within the existing right-of-way. The detailsof such improvements 10 are specified in the ProjectAgreement(Attachment A) and shown in the plans (AttachmentB). 11 All work would be done through the developer’s contractor. All costs for the improvements would 12 be paid by the developer. The estimated cost of construction of the public infrastructure is $61,300. 13 Thedeveloper will provide a constructionsecurity in the amount of 150% of the estimated cost of 14 construction, $91,957, in the event the developer fails to perform. 15 The City willobservethe construction. The developer will pay the City $3,678for these inspection 16 services. 17 The public improvements are planned to be completed by October 1, 2023. 18 The City Attorney has reviewed the agreement. 19 P OLICY O BJECTIVE 20 It is City policy to keep City-owned infrastructure in good operating condition and to keep systems 21 operating in a safe condition. 22 B UDGET I MPLICATIONS 23 The estimated cost of these improvements, based on preliminary figures provided by the developer’s 24 contractor, is approximately $61,300. The developer will provide a constructionsecurity in the 25 amount of 150% of the estimated cost of construction, $91,957. 26 The agreement, as presented, has the developer paying for all the costs of the improvement 27 including: design, inspection, construction and City staff time related to the improvement. The 28 developer will pay the City $3,678to cover staff time overseeing the project. 29 There are no costs to the City for this agreement. 30 R ACIAL E QUITY I MPACT S UMMARY 31 There should be no equity impacts associated with this agreement. Page 1of 2