2021.02.23 City Council Packet - Laserfiche WebLink

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NOW THEREFORE, in consideration of the mutual promises and benefits that each party shall derive herefrom, the parties hereby agree as follows: ARTICLE I. PURPOSE The purpose of this Agreement is to accommodate and facilitate in an efficient manner the construction of the identified improvements and facilities proposed within the respective jurisdictions of the parties to this Agreement. By this Agreement the parties intend to assign authority and responsibility to contract for the described work and to identify financial responsibilities of the respective parties for the project. ARTICLE II. CONTRACT ADMINISTRATION The City agrees to advertise and let the contract for the improvements to Lions Park and the parking lot and associated improvements that are located within Long Lake Regional Park. The City further agrees to administer the contract and oversee the construction work, except as otherwise provided herein. The parties hereby agree to delegate to the City such authority as may be needed to award the contract and carry out the construction of the improvements as identified in this Agreement. The County is not liable for any costs or other liabilities associated with the administration of the contract. ARTICLE III. COSTS The parties to this Agreement shall be responsible for paying the costs associated with this project as indicated below. A. Lions Park and Long Lake Regional Park Parking Lot The City will fund 100 percent of the cost for the Lions Park improvements located in Lions Park. Initially, the City will fund 100 percent of the cost for the parking lot and associated improvements to Long Lake Regional Park. The County will reimburse the City for 50 percent of the parking lot and associated improvements. The County intends to apply for Metropolitan Regional Park System bond funds in order to pay for its share of the costs when these funds become available. When awarded the bond funds, the County will reimburse the City for the County's share of the parking lot and associated improvements as shown in paragraph (B) below. Should the County not acquire funding from bond funds by the December 31, 2020, the County will reimburse the City for the County's share of the parking lot and associated improvements over a three year term, by making monthly payments (the final payment must be made by December 31, 2023). The estimated amount of the reimbursement to be made by the County to the City based on the approved project plans, and the low -bid Contractor's unit prices received by the City in October of 2016 is $432,165.89. The actual reimbursement amount will be based upon the statement of final constructed quantities. -2 488663v2 SJS NE136-24