Title
Resolution Approving the Settlement IGA with the URA & SACWSD
Body
Summary & Background
· In 2004 the City and the URA executed a Master Development Agreement (MDA) with Kroenke for construction of an MLS soccer stadium and various infrastructure improvements, the most notable being Quebec & 56th Avenue, all of which were known as the Prairie Gateway project
· The infrastructure improvements included work on South Adams County Water & Sanitation District (SACWSD) service mains, valves and lines
· When project construction was completed in 2007-2008 there were disputed punch list items estimated to cost $265,000 remaining on SACWSD service mains, valves and lines
· Some items on the punch list were resolved in the following years but the majority remained unresolved
· The unresolved punch list items held up the final project close-out and a final reimbursement from Kroenke to the City (approximately $1.8 million)
· Staff has negotiated the proposed resolution of the remaining punch list items by a payment of $145,500 to SACWSD as detailed in the proposed intergovernmental agreement called the Settlement IGA
· SACWSD has approved the Settlement IGA
· The Settlement IGA is now ready for Council's approval.
Staff Responsible: Roger Tinklenberg
Staff Presenting: Roger Tinklenberg
Financial Impact
· Pay $145,500 to SACWSD
Funding Source
· Reimbursement payment from Kroenke
Recommended City Council Action:
· Approval of resolution approving the Settlement IGA with SACWSD.