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6.5.1.
Regular City Council Meeting
Meeting Date:
03/23/2021
Information
Agenda Item
Resolution - Engineering:
Consider a resolution authorizing the Mayor to execute an Economic Development Agreement, with Westwind Realty, L.P., for the construction of Wausau Avenue from the Marsha Sharp Freeway (MSF) to 82nd Street.
Item Summary
The City Council established Capital Improvement Project (CIP) 92651, Wausau Avenue from MSF to 82nd Street. The CIP was intended for improvements in and along Wausau Avenue between Marsha Sharp Freeway and 82nd Street. Westwind Realty, L.P. is in the process of developing the property adjacent to the area that CIP 92651 encompasses. It is the intention that both parties can benefit from significant cost savings by utilizing the same contractor for the construction of Wausau Avenue.
The construction costs will be divided between the City of Lubbock and Westwind Realty, L.P., as stipulated in the agreement. The construction will follow the City's procurement process and will be bid out and procured by the City.
The Westwind Realty, L.P. contribution will not exceed $400,594.58.
Fiscal Impact
This agreement is the additional funding of not to exceed $400,594.58, that is proposed to be added to CIP 92651, Wausau Avenue from MSF to 82nd Street, in the prior agenda item.
Staff/Board Recommending
Jesica McEachern, Assistant City Manager
Attachments
Resolution
Agreement
Location Exhibit
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