Title
AN ORDINANCE APPROVING THE NORTH GATEWAY MONUMENT SUPPLEMENTAL FUNDING AGREEMENT BY AND BETWEEN THE CITY OF LEE’S SUMMIT, MISSOURI, THE LEE’S SUMMIT MISSOURI MUNICIPAL BUILDING AUTHORITY, INC. AND THE INDUSTRIAL DEVELOPMENT AUTHORITY OF LEE’S SUMMIT, AUTHORIZING THE CITY MANAGER TO EXECUTE THE SAME BY AND ON BEHALF OF THE CITY, AND RATIFYING THE CITY’S ORIGINAL CONTRIBUTION TO THE NORTH GATEWAY MONUMENT PROJECT.
(NOTE: City Council, First Reading - July 27, 2017.)
Body
Issue/Request:
The North Monument project, located near I-470 and Lakewood Blvd, is a project managed by the Lee’s Summit, Missouri Municipal Building Authority (LSMMBA) in cooperation with the Lee’s Summit Industrial Development Authority (IDA), and the City of Lee’s Summit. The project contractor identified some needed project modifications base on site location and conditions. The cost of the change order necessary to complete these modifications is 14, 508.38. This additional cost will exceed the available project funds. The City and the IDA previously agreed to a matched contribution of $50,000 from each entity toward the project funding. The IDA has approved an additional $7500 toward the costs as a matching grant to a like contribution by the City.
Proposed City Council Motion:
I move for adoption of AN ORDINANCE APPROVING THE NORTH GATEWAY MONUMENT SUPPLEMENTAL FUNDING AGREEMENT BY AND BETWEEN THE CITY OF LEE’S SUMMIT, MISSOURI, THE LEE’S SUMMIT MISSOURI MUNICIPAL BUILDING AUTHORITY, INC. AND THE INDUSTRIAL DEVELOPMENT AUTHORITY OF LEE’S SUMMIT, AUTHORIZING THE CITY MANAGER TO EXECUTE THE SAME BY AND ON BEHALF OF THE CITY, AND RATIFYING THE CITY’S ORIGINAL CONTRIBUTION TO THE NORTH GATEWAY MONUMENT PROJECT.
Background:
In 2008, the City of Lee's Summit commissioned a "Gateway Monument Study" to develop a comprehensive approach to our monument program. A citizen committee worked with the consultant Bowman, Bowman, and Novack and presented their final report and recommendation to the City Council on June 5, 2008. The City Council accepted this report.
Community leaders raised funds to complete a monument just west of the I-470 and View High interchange. This monument was funded through a combination of funds from the Lee's Summit Industrial Development Authority (IDA), personal cash donations, and donated services and/or discounted materials. In total the cost for this monument was approximately $105,224.
LSMMBA and IDA entered into an agreement for the construction of a similar monument to be located at a point at or near the west side of Interstate 470, just north of Lakewood Boulevard, between the main line and southbound off-ramp. LSMMBA is the managing agency for this current project and is responsible for overseeing the project design and construction.
In order to fund the project, LSMMBA provided approximately $22K in private funding, the City (by Council action October 8, 2015) contributed $50K; the IDA gave $4500 in additon to matching the City’s $50K investment.
Since that time, the project has been bid for construction and a contractor selected. In reviewing the site and preparing for development it was determined that modifications were needed to relative dimensions of the monument and the placement if structure on the site. The cost of these modifications is $14, 508.38 over the available project funds. The IDA agreed to fund $7500 of that cost as a match to a like investment by the City.
Presenter
Presenter: Conrad Lamb, Finanace Director
Recommendation
Recommendation: Staff recommends approval.