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Y . Council Staff Report — Agency Construction Management Agreement <br />March 20, 2001 <br />Page 2 of 4 <br />On December 7, 1999 the Agency Board approved the list following list of projects recommended <br />for funding by the Santa Ana River Citizens Advisory Committee. <br />1. <br />Improvements to Dauer Park <br />$ <br />160,000 <br />2. <br />Improvements to Cooley Park <br />$ <br />44,000 <br />3. <br />City Entrance Sign — WashingtonYWaterman <br />$ <br />3,900 <br />4. <br />Hunts Lane Street Lights <br />$ <br />17,000 <br />5. <br />Hunts Lane Landscape/Sidewalk <br />$ <br />39,000 <br />6. <br />Washington Street Median/Drainage <br />$ <br />980,000 <br />7. <br />Reche Canyon Widening/Sidewalk <br />$ <br />367,000 <br />8. <br />Landscape Improvements —SEC Wash/Barton <br />$ <br />20,000 <br />9. <br />Signal Modifications —Hunts/Steel Rd. <br />$ <br />73,200 <br />10. <br />Signal Modifications — Wash./Reche Cyn. <br />$ <br />73,200 <br />11. <br />Signal Modifications —Wash./ Hunts Lane <br />$ <br />73,200 <br />12. <br />New Signal — Hunts Lane & Cooley Lane <br />$ <br />146,400 <br />13. <br />Reche Canyon Realignment <br />$ 403.100 <br />Total Estimated Cost <br />$ <br />2,400,000 <br />On February 1, 2000 the City Council adopted Resolution R-08-00 which made certain findings of <br />benefit and authorized the Agency to use the bond proceeds for this list of public improvements. <br />Following this approval, Agency staff solicited cost proposals from several design and engineering <br />firms. On June 20, 2000 the Agency Board awarded a professional services contract for the design <br />of the major public improvements to LD King. On December 5, 2000 the City Council adopted <br />Resolution No. R-92-00, which again made certain findings of benefit and authorized the Agency to <br />use some of its bond proceeds for the construction of two traffic signals in Reche Canyon. <br />Currently the design work for all of the projects is nearly complete and should go out to bid within 1- <br />2 months. Please refer to copy of status report on the Santa Ana River public improvement <br />projects, attached hereto as Exhibit "A'. <br />However, certain provisions of the bond indenture and loan agreement requires the Agency to <br />complete construction and/or have the bond proceeds committed within three years of acquiring the <br />funds. The deadline for expending or encumbering these bond proceeds is April 1. 2001. Since <br />these public improvement projects have not been completed and the Agency has not yet <br />irrevocably committed these funds for the construction of these projects, the Agency is currently in <br />jeopardy of losing these bond proceeds unless certain actions are taken prior to April 1, 2001. To <br />preserve the use of these funds for the construction of these public improvements, the Agency must <br />enter into an agreement with the City committing the bond proceeds for the construction of the <br />projects and place the bond funds into an escrow account(s) specifically for payment of these <br />construction costs. A copy of the proposed "Santa Ana River Public Projects Funding and <br />Construction Management Agreement' is attached to the staff report as Exhibit "B" <br />Discussion <br />The Construction and Management Agreement will require the agency to commit a minimum of <br />$1,469,025 in available bond proceeds toward the construction of the following projects: <br />Proiect Name Estimated Cost <br />Dauer Park Improvements $160,000 <br />Cooley Park Improvements <br />$84,000 <br />Hunts Lane <br />$56,000 <br />Washington Street Median/Landscape <br />$1,003,900 <br />Signal Mod ifications(Washington) <br />$100,000 <br />New Signal at Hunts/Cooley <br />$146,400 <br />Reche Canyon Traffic Signals <br />$119,600 <br />Total Amount of Projects <br />$1,669,900 <br />