Title
Infrastructure Reimbursement Agreement
Action
Action:
Authorize the City Manager to negotiate and execute an Infrastructure Reimbursement Agreement with White Point Pace Partners LLC in an amount not to exceed $5,000,000 for the design and construction of portions of two City projects, which agreement includes 20 percent MWSBE subcontracting goal on the infrastructure improvements.
Body
Staff Resource(s):
Tracy Dodson, City Manager's Office
Mike Davis, Engineering and Property Management
Veronica Wallace, Engineering and Property Management
Explanation
* White Point Pace Partners LLC (White Point) purchased property located at 340 East 16th Street (Council District 2). The property is located just north of Uptown adjacent to Parkwood Avenue, 16th Street, and the Charlotte Area Transit System LYNX Blue Line Extension (BLE).
* City Council approved rezonings for this redevelopment on May 16, 2016 and December 19, 2016 (Rezoning Petition numbers 2016-029 and 2016-130 respectively), which includes 83,000 square feet of office space and around 55,000 square feet of retail space, including a 22,000-square-foot food hall.
* There are two City projects in the vicinity of the Optimist Hall redevelopment project. The two projects are:
* Parkwood Avenue Streetscape project (Northeast Corridor Infrastructure Program), and
* 16th Street Streetscape project (Applied Innovation Corridor).
* White Point and the City agreed to partner in an effort to minimize impacts to the surrounding community. White Point has agreed to include portions of these active City projects as part of their development project.
* Coordinating this work with the developer now will eliminate future City project impacts to the Optimist Hall Development and other surrounding developments.
* Infrastructure improvements identified in the City projects include:
* Curb, gutter, storm drainage, new median, striping, and temporary traffic signal at Belmont Avenue and Parkwood Avenue, and
* Realign...
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