To

Mayor and Council

Subject

Amendment to Resolution 314-05 Authorizing MOU for Riverwalk

Initiator

Planning Department

Recommendation

Approval is requested to amend Resolution No. 314-05, authorizing the City \n \n Manager to enter into a Memorandum of Understanding with Eagle and Phenix \n \n Joint Venture, LLC and Uptown Columbus, Inc., for the construction of the \n \n southern portion of the 12th Street streetscapes and a new section of \n \n Riverwalk from the River Club for a sum not to exceed $1.4 million.

Approval

Approved

Background

The development of the River Walk behind Eagle and Phenix Mill from the River

Club to 13th Street has been a part of the RiverWalk Master Plan. This area is

between the river and the Eagle and Phenix Mill property. Eagle and Phenix

Joint Venture, LLC is in the process of redevelopment of the Eagle and Phenix

site. The redevelopment will consist of a mixed use property to include

residential lofts and condominiums, office buildings, retail stores and

restaurants.

Analysis

Resolution No. 314-05 authorized the use of a single contractor for the

development of the 12th Street streetscapes project and new construction for

the Riverwalk between 12th and 13th Streets. The total cost for the City for

these projects was set at $3.4 million, with $1.4 coming from Capital

Improvement Program funds, and $2 million from the Georgia Department of

Transportation's (GDOT) Transportation Enhancement grants. Due to GDOT's

regulations, it is necessary to separate this $2 million out from the other

funds, and to develop the project in two phases. Phase I will now consist of

construction costs totaling $1.4 million, and Phase II will cost out at $2

million, with a required match of $400,000.

Financial Considerations

Funding for Phase I is available from Capital Improvement Program (40202)

funds. Matching funds for Phase II will be utilized from SPLOST Streetscape

(20236) funds.

Projected Annual Fiscal Impact Statement

Legal Considerations

The City Attorney has reviewed the proposed Memorandum of Understanding and has

approved it.

Recommendations/ Actions

Approval is requested to amend Resolution No. 314-05, authorizing the City

Manager to enter into a Memorandum of Understanding with Eagle and Phenix

Joint Venture, LLC and Uptown Columbus, Inc. for the construction of the

southern portion of the 12th Street streetscapes the new section of Riverwalk

from the River Club for a sum not to exceed $1.4 million.

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