title
Authorize the Town Manager to Finalize Arrangements for Construction of the Elliott Road Extension Project.
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Staff:
Department:
Lance Norris, Director
Public Works
Bergen Watterson, Transportation Planning Manager
Planning
Chris Roberts, Manager of Engineering and Infrastructure
Public Works
Overview: On February 12, 2020 staff provided an update on the Elliott Road Extension design and plans for construction. The roadway plans are nearly complete, and staff has negotiated a not-to-exceed cost for the road construction with BR Chapel Hill, LLC. Staff is seeking guidance on funding options for the increased cost.
Recommendation(s):
That the Council approve a reimbursement resolution and authorize the Town Manager to execute a reimbursement agreement with The Park at Chapel Hill JV, LLC to construct the road.
Key Issues:
* The construction cost estimate is now higher than it was when Council authorized staff to proceed with construction in 2018.
* The total cost to construct the road is estimated to be $7,531,000.
* Additional funding is needed to construct the road.
* Construction is expected to begin in summer 2020.
Fiscal Impact/Resources: The original funding plan allocated $5 million to the Elliott Road Extension (Phase II). Due to a combination of project cost increases and project budget decreases that were discussed at the February 12, 2020 Council work session, there is a funding gap of $4.5 million. The Town is expecting an additional $434K from the North Carolina Department of Transportation (NCDOT) but we do not know the timeline for receipt of funds. If we receive these funds, the funding gap would be $4.1 million.
Where is this item in its process?
Attachments:
* Resolution
* Reimbursement Resolution
* Draft Staff Presentation
* Staff Memorandum
A RESOLUTION AUTHORIZING THE TOWN MANAGER TO SIGN A REIMBURSEMENT AGREEMENT WITH THE PARK AT CHAPEL HILL JV, LLC TO CONSTRUCT ELL...
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