AGENDA CAPTION:
Title
Receive a project update and hold discussion on the pre-development services relating to the new Public Services Center, and provide direction to the City Manager.
Body
Meeting date: April 7, 2020
Department: Public Services - Tom Taggart, Director
Amount & Source of Funding
Funds Required: NA
Account Number: NA
Funds Available: NA
Account Name: NA
Fiscal Note:
Prior Council Action: Resolution 2019-197R, Awarding a Predevelopment Services Agreement to Hunt Companies, Inc.
City Council Strategic Initiative: [Please select from the dropdown menu below]
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Comprehensive Plan Element (s): [Please select the Plan element(s) and Goal # from dropdown menu below]
? Economic Development - Choose an item.
? Environment & Resource Protection - Choose an item.
? Land Use - Choose an item.
? Neighborhoods & Housing - Choose an item.
? Parks, Public Spaces & Facilities - Choose an item.
? Transportation - Choose an item.
? Core Services
? Not Applicable
Master Plan: [Please select the corresponding Master Plan from the dropdown menu below (if applicable)]
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Background Information:
A Predevelopment Services Agreement (PSA) was awarded to Hunt Companies, Inc. (Hunt) in the not-to-exceed amount of $1,500,000 for pre-development phase services including financial development, design development, constructability reviews, cost estimating/budgeting, procurement of additional professional services, etc. prior to the execution of a Development Agreement and financial closing.
Within 4 months of the execution of the Predevelopment Services Agreement, Hunt will provide the City with a Guaranteed Maximum Purchase Price (GMPP) proposal for review and negotiation based on a detailed development schedule and preliminary construction drawings and specifications. The GMPP is the total cost to complete the project comprised of financing costs, design fees, construction cost, project contingen...
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