DATE: August 15, 2017
TO: Board of Mayor and Aldermen
FROM: Eric Stuckey, City Administrator
Paul Holzen, Director of Engineering/City Engineer
SUBJECT:
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*Consideration of Amendment No. 1 (COF Contract No. 2015-0172) to the Carothers Parkway and Meridian Boulevard / Gillespie Drive Intersection Improvements Agreement with the Meridian Cool Springs Owner’s Association, Inc.
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Purpose
The purpose of this memorandum is to provide information to the Franklin Board of Mayor and Aldermen (BOMA) concerning Amendment No. 1 to COF Contract No. 2015-0172
Background
On October 13, 2016, the City of Franklin entered into an agreement with Meridian Cool Springs Owner’s Association, Inc to make intersection improvements at Meridian Blvd and Carothers Parkway. The purpose of the project was to improve the overall capacity of the intersection by removing the current split phase operation. The City’s estimated cost for design, permitting, construction management and construction for the project was $221,000. During final paving operations, the City requested additional milling and resurfacing at the intersection and on Gillespie Drive as this area was in need of repaving. The overall cost of the project was $672,263.38 and the City is responsible for $331,483.50 ($185,632.17 for the intersection improvements and $145,851.33 for additional milling/resurfacing).
Financial Impact
Funding for the project was to paid out of the FY 2017 TOC Capital Budget and the FY 2017 Street Department resurfacing budget. Staff will work with Finance Department to pay this cost out of the appropriate annual budget.
Recommendation
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Staff recommends approval of Amendment No. 1 (COF Contract No. 2015-0172). Approval shall be contingent upon final contract review and approval by the City Administrator and City Attorney.