HomeMy WebLinkAboutC-1564 - Financing agreement for street improvements - Lafayette, Lido Park Drive, and 31st StreetCITY OF NEWPORT BEACH
TO: FINANCE DIRECTOR
FROM: City Clerk
SUBJECT: Contract No. 1,,564E
Description of Contract
CALIFORNIA
City Hall
3300 W. Newport Blvd.
Area Code 714
673 -2110
Lafayette, Lido Park Drive and 319t
Authorized by Resolution No. BUS , adopted on AaWmt 13, 1973
Effective date of Contract At*ust 28, 'QTA
Contract with Qt.,An (Qngtn1e+ m Tnc,_
Address CIS- - 6th AAftrilke
Amount of Contract sae amtrlact
City Clefk
• •
AGREEMENT
(Improvement of Portions of Lafayette Avenue,
Lido Park Drive and 31st Street)
THIS Agreement is made and entered into this .2 4 TH
day of A v G V S l , 1973, by and between SWAN CONSTRUCTORS,
INC., a corporation, hereinafter refered to as "SWAN ", and the CITY OF
NEWPORT BEACH, a municipal corporation, hereinafter referred to as "CITY"
W I T N E S S E T H
WHEREAS, CITY desires to improve portions of Lafayette
Avenue, Lido Park Drive and 31st Street; and
WHEREAS, a portion of these improvements are the responsi-
bility of SWAN as set forth by the CITY in the conditions of approval for
Use Permit Number 1482, approved June 18, 1970; and
WHEREAS, it is desirable and necessary that an agreement
be entered into setting forth the manner in which SWAN is to fulfill its
responsibilities;
NOW, THEREFORE, in consideration of these premises, it is
hereby agreed by and between the parties hereto as follows:
I
SWAN agrees that it shall:
A. Bear the cost of construction of those street improve-
ments set forth hereinafter in Paragraph III -A.
B. Deposit with the CITY prior to award of the contract
for the construction of the work described in Paragraph II, the amount
of Thirteen Thousand Dollars ($13,000) (or a modified amount of deposit as
provided for in Paragraph III -B) representing the estimated cost of con-
struction engineering, administration and construction of those street
improvements which are SWAN's responsibility.
•
II
0
CITY agrees that it shall:
A. Improve portions of Lafayette Avenue, Lido Park Drive,
and 31st Street. The improvements shall include, but not be limited to,
those shown on Exhibit "A ", which is attached hereto and by this reference
made a part hereof.
III
The parties hereto further mutually agree as follows:
A. That for the purposes of this agreement, SWAN shall
be responsible for all street improvements, including street lights, to
be constructed in the shaded area delineated on Exhibit "A."
B. That prior to award of the CITY construction contract,
SWAN may directly cause to be constructed a portion of the street improve -
ments which are SWAN's responsibility. Said street improvements shall be
constructed in a manner which meets CITY's approval. SWAN's deposit may
accordingly be reduced to that amount estimated by CITY to be needed for
completion of the balance of the street improvements which are SWAN's
responsibility.
C. That CITY shall present to SWAN a final accounting of
the actual cost of construction of street improvements built under CITY
construction contract which are SWAN's responsibility promptly after such
cost becomes determinable. The actual cost of construction of such street
improvements shall be the sum of the following costs:
(1) The costs of construction of the street
improvements computed on the basis of
actual items and quantities constructed
at the unit bid prices by CITY's contractor.
2
ON
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(2) The cost of construction engineering, and
overhead which shall be computed as eight
percent (8%) of total cost payable by SWAN
under Paragraph III -C(1).
D. That if upon final accounting the deposit by SWAN
is in excess of the costs set forth in Paragraph III -C, that excess
deposit shall be refunded by CITY to SWAN within thirty days (30) after
final accounting.
E. That if upon final accounting the actual cost of con-
struction of street improvements which are SWAN's responsibility exceeds
the deposit required in Paragraph I -B, SWAN shall pay the excess amount
to the CITY within thirty days (30) after being presented with a final
accounting.
IN WITNESS WHEREOF, the parties hereto have executed this
Agreement on the date first above written.
y:
ATTEST:
APPROVED AS TO FORM:
Assistant City Attorney
CITY OF NEWPORT BEACH
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RONALD I MGELLIQUt
YICE PRESIDENT
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CITY OF NEWPORT BEACH
PUBLIC WORKS DEPARTMENT
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DRAWN f+• ^'r'• DATE
APPROVED � DA
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HSS'T. PUBLIC WORKS DIRECTOR
R.E. NO. 6Ed 6
DRAWING NO.,
13 1973
Cy Me CITY COUNCIL RESOLUTION NO. 8 06 G
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF NEWPORT BEACH AUTHORIZING THE
EXECUTION OF AN AGREEMENT BETWEEN THE
CITY OF NEWPORT BEACH AND SWAN CONSTRUC-
TORS, INC. FOR THE COST OF DESIGN AND
CONSTRUCTION OF CERTAIN STREET AND STORM
DRAIN IMPROVEMENTS OF PORTIONS OF LAFAYETTE
AVENUE, LIDO PARK DRIVE AND 31ST STREET
WHEREAS, there has been presented to the City Council
of the City of Newport Beach a certain agreement between the
City of Newport Beach and Swan Constructors, Inc., for the
cost of design and construction of certain street and storm
drain improvements of portions of Lafayette Avenue, Lido Park
Drive and 31st Street; and
WHEREAS, the City Council has considered the terms
and conditions of said agreement and found them to be fair
and equitable;
NOW, THEREFORE, BE IT RESOLVED that said agreement
is approved, and the Mayor and City Clerk are hereby authorized
and directed to execute the same on behalf of the City of
Newport Beach.
ADOPTED this day of AUG 1 3 1973_, 1973.
Mayor
ATTEST:
ty Clerk
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