DATE: December 30, 2014
TO: Board of Mayor and Aldermen
FROM: Eric Stuckey, City Administrator
David Parker, City Engineer/CIP Executive
Paul P. Holzen, Director of Engineer
SUBJECT:
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Consideration of Road Impact Fee Offset Agreement - As Amended (COF Contract 2014-0116) with Embrey Partners, Ltd for the Construction of a Traffic Signal at the Intersection of Cool Springs Blvd and Windcross Court in the amount of $156,761.18. (01/13/15 WS)
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Purpose
The purpose of this memorandum is to provide the Franklin Board of Mayor and Aldermen (BOMA) with the information to consider a Road Impact Fee Offset Agreement with Embrey Partners, Ltd.
Background
Embrey Partners, Ltd. was required to design and construct a traffic signal at Windcross Court and Cool Springs Blvd. On February 11, 2014 the Board of Mayor and Aldermen approved a road impact fee agreement with Embrey Partners, Ltd for the Artessa Development. The Road Impact Fee Agreement was to allow an offset for 50% of the estimated cost ($192,125.00). On November 12, 2014 city staff received a letter requesting reimbursement of a portion of the total cost associated with the design and construction of the signal. Supporting documentation can be found in Exhibit B of the proposed contract.
Financial Impact
$279,853.20 Contract with Stansell Electric Co. Inc. and Engineering Design Fees
$ 20,201.49 Contractors General Requirements (7.5% of Cost of Work)
$ 13,467.66 Overhead Fee (5% of cost of work)
$313,522.35 Final Project Cost
On February 11, 2014 the Board directed staff to prepare an offset for 50% of the final project cost. The Financial Impact and reimbursement will be in the amount of $156,761.18.
Recommendation
Staff Recommends approval of the Road Impact Fee Offset Agreement - As Amended (COF Contract #2014-0116) with Embrey Partners, Ltd for the Construction of a Traffic Signal at the intersection of Cool Springs Blvd and Windcross Court in the amount of $156,761.18