HUMPHRIES, VALERIE R. - Laserfiche WebLink

Home Browse Search

5. PUBLICLY FUNDED IMPROVEMENTS. Subject to the conditions set forth in Section 5.2 below; Agency and City hereby agree to cause to be made or funded, at no cost or expense to Owner or the other owners of the Properties, the improvements described in Section 5.1) below and in Exhibit "D" (the "Publicly Funded Improvements"). The City and Agency shall establish funding and contracting arrangements under which work on the Publicly Funded Improvements to commence not later than the second (2nd) anniversary of the Implementation Date and to be completed not later than the fourth (4th) anniversary of the Implementation Date. 5.1 Scope of Improvements (a) Project A: Public Improvements (1) Minnie Street from McFadden Avenue to Wakeham Avenue to be reconfigured as a one way street traveling in a northern direction. (2) Minnie Street from Wakeharn Avenue to Grant Street; Grant Street from Minnie Street to the alley; and Wakeham Avenue from Minnie Street to be resurfaced. (3) Entrance monuments and signage installed at MacFadden Avenue and Minnie Street; Wakeham Avenue and Grant Street (at alley). (4) New street lighting with underground wiring and mailbox bases installed along Minnie Street as required. (b) Project B: Landscaping and Parking Area Improvements (1) Parkway landscaping, front/side yard landscaping, and install irrigation system (to be maintained by Association); (2) Repair or install as needed wrought iron fences along the front of all properties, between buildings, and at side yards along McFadden Avenue. (3) Resurfacing and re -striping of alleys and parking lots; (4) Construct trash enclosures in parking lots (1 enclosure/2 buildings for 10 unit buildings); (5) Install fence along railroad tracks; (b) Repair and fortify the. fence along the alley between Minnie Street and Standard Avenue, 5.2 Conditions Precedent. (a) Improvement Costs. Attached hereto as Exhibit "T" is a good faith estimate of the cost to be incurred by the City and the Agency for the Publicly Funded Improvements, itemized in accordance with the separate contracts by which the work will be bid and performed. It shall be a condition for the benefit of the City and the Agency to their obligation to commence to cause such work to be performed that the lowest responsible bid received by entity awarding the contract(s) for such work not exceed the sum that equals one hundred ten percent (110%) of 10