title
Resolution Authorizing the City Manager to Enter into Amendment #1 to the Roadway Improvement Agreement with NNP IV-Cape Fear River, LLC and The Proximity Watermark, LLC, for the Installation of a Roundabout and Associated Roadway Improvements at the Intersection of Independence Boulevard and River Road and Pedestrian Improvements on Independence Boulevard
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Department: |
Engineering |
Meeting Date: |
6/3/2025 |
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Contact Name: |
Mike Naklicki |
Public Hearing: |
No |
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Contact Phone: |
910.341.5897 |
Advertising Date/Advertised By: |
N/A |
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Attachments: |
Attachment #1: Ind Blvd & River Road RAB - Amendment Resolution |
PURPOSE:
The purpose of this resolution is to authorize the City Manager to negotiate and amend the Roadway Improvement Agreement for installation of a roundabout and associated road improvements at the intersection of Independence Boulevard and River Road and pedestrian improvements on Independence Boulevard to increase the maximum cost of the improvements, maintain the proportional cost shares in the original agreement, and adjust the not-to-exceed cost share amounts to reflect the project costs based on final design and results of the bid for construction.
BACKGROUND:
The City of Wilmington (City), NNP IV-Cape Fear River, LLC (Riverlights), and The Proximity Watermark, LLC (Watermark) entered into a Roadway Improvement Agreement dated June 27, 2024. The projects costs identified in the agreement were based on concept designs and estimated costs of the improvements.
With the design complete and bids received for construction of the project, the City, Riverlights, and Watermark now wish to enter into an amendment to the agreement to increase the maximum cost of the improvements and adjust the not-to-exceed amounts for each party to reflect the updated project costs. The proportional cost share of the improvements will remain unchanged from the original agreement with the City obligated for 30% of the roundabout costs, Riverlights obligated for 56% of the roundabout costs, and Watermark obligated for 14% of the roundabout costs. The City is 100% obligated for the cost of the pedestrian improvements on Independence Boulevard and the property acquisition costs for the full scope of the project. The Right of Way and easements on the Watermark property required to construct the roundabout and associated roadway improvements are being dedicated at no cost to the City by Watermark. No additional City funding beyond what has been previously appropriated to the project is needed to construct the improvements.
Construction is expected to begin in June of 2025 with completion in December of 2025.
budget
BUDGET IMPACT:
A total appropriation in the amount of $314,800 from Riverlights and Watermark is needed for the roundabout work.
recommendation
RECOMMENDATION / ACTION REQUESTED:
Staff recommend approval of the resolution.