City Council Minutes 2001 01 16 - Laserfiche WebLink

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Louisville City Council Meeting January 16, 2001 Page 9. Sisk stated that his concern is the cost of the construction of 96th Street and the fact that the City does not get the interest on the initial $12 million allocated. Mayer voiced his concern that the City might be at risk if the project is held up for any reason. He stated that the contractor may come back and say they cannot build the road for what they agreed to. He felt the City would be vulnerable. Davidson stated that in this agreement, the City is getting substantially more money. He noted that the net gain to Louisville is $9-10 million dollars and it compensates Louisville and Boulder County for their open space. He felt that the Agreement is in Louisville's best interest and that the Agreement is enforceable in court. Howard concurred with Mayor Davidson. He asked Hogan if a proportional part of the fines for any contractor delays, could be forwarded to the City of Louisville. Davidson asked Hogan if that sort of amendment would be acceptable, or would it have to go back to all the city councils to be voted on. Hogan stated that would be acceptable if the jurisdictions agree to administrative amendments. He stressed that the Agreement needs to be approved so that the project can move forward. Sisk asked Hogan, as the Executive Director of the Northwest Parkway Authority, if the Agreement maintains that the Authority that builds the Northwest Parkway, will also build the 96th Street Project and that the 96th Street Project will be built by the same contractor, without any additional compensation request from the City of Louisville. Hogan stated that the 96th Street project that is agreed upon will be built for $12 million dollars. Public Works Director Phare asked Hogan when the City would have to be on board to obtain a fixed price guarantee and the Authority's project schedule. Hogan stated that he would like to have a commitment as soon as possible, however, the absolute deadline is the end of March. He stated that The Northwest Parkway Authority Board must formally adopt the plan of finance and identify all documents of the bond sales. Phare asked if the adoption would be subject to approval and permits. Hogan stated that they need to be a decision on who will construct the 96th Street Project, the Authority or the City. Phare stated that he believed that Staff could work with the Authority to identify a fairly tight project in that time period, however it would be based on contingencies such as the railroad and wetlands. 9