2002 AGN JUN 04 I13 - Laserfiche WebLink

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WHEREAS, the public work improvement projects described in the City Council Resolution No. R-26-00 are hereinafter collectively referred to as the "Mount Vernon Corridor Projects"; and WHEREAS, the City and the Agency each desire to immediately commence the installation and construction of the Mount Vernon Corridor Projects, and WHEREAS, the Agency may draw available funds from the Bonds Proceeds Account to pay for the installation and construction of the Mount Vernon Corridor Projects. NOW, THEREFORE, THE CITY OF COLTON AND THE REDEVELOPMENT AGENCY OF COLTON DO HEREBY AGREE AS FOLLOWS: I. PURPOSE OF AGREEMENT. This Agreement provides for the design, construction, installation and financing of certain public work improvements for the Mount Vernon Corridor Projects. The design and financing for the cost of improvement of each of the Mount Vernon Corridor Projects has previously been considered and approved by the City pursuant to City Council Resolution No. R-26-00, dated April 4, 2000. Subject to the terms and conditions of this Agreement, the Agency shall pay for the cost of the design, installation and improvements of each of the Mount Vernon Corridor Projects in a total aggregate amount of $2,349,697 and the City shall be responsible for the acquisition and installation, as well as the management and supervision of all aspects of the design, installation and improvements of each of the Mount Vernon Corridor Projects, including all public right-of-way and easements acquisition as necessary and appropriate for any of them, together with the payment of any additional costs for the completion of the Mount Vernon Corridor Projects as specifically identified in Section 2 of this Agreement in excess of the sum of $2,349,697 as contributed by the Agency from the Bonds Proceeds Account. 2. DESCRIPTION OF MOUNT VERNON CORRIDOR PROJECTS. The Mount Vernon Corridor Projects consist of the following sub -projects each of which shall be designed, constructed and installed by the City pursuant to one or more "public works contracts", as this term is defined in Public Contract Code Section 1101: MOUNT VERNON CORRIDOR CONSTRUCTION PROJECTS (i) Mount Vernon Streetscape (ii) Residential Curbs and Gutters (iii) Fairway Street Widening (iv) Colton Avenue Bikepath (v) Scenic Drive Fencing/Skate Park AGENCY APPROVED BUDGET: $1,500,000 $ 316,250 $ 409,447 $ 100,000 $ 24,000 TOTAL FOR ALL MOUNT VERNON CORRIDOR PROJECTS: $2,349,697 SB2002:1 OR53.1