80A - JOINT - PARKING GARAGES - Laserfiche WebLink

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F. The recommended actions provide an opportunity to affirm the use of bond proceeds pursuant to the Official Statement and budgeted capital project funds for the Publicly Owned Improvements. NOW, THEREFORE, the parties hereto do mutually agree as follows: SCOPE OF WORK A. The City will be contracting with the lowest and best bidder to perform the Parking Structure/Lot construction improvements pursuant to plans and specifications to be prepared by the City. The work consists of capital improvements to the parking structures/lots, architectural upgrades for structural efficiency, ADA compliance, addition of new security systems and installation of operational equipment within the Merged Project Area. B. The City will be contracting for the implementation of the way-finding signage program for the Downtown including, but not limited to, construction of signage for the parking structures and public surface parking lots. C. It is the responsibility of the City to pay all development and construction costs in connection with these Publicly Owned Improvements from funds paid to the City by the Agency under this Agreement. D. The City shall perform its obligations hereunder in accordance with all applicable provisions of federal, state and local laws, including its obligation to comply with environmental laws such as CEQA, and shall timely complete the work required for the Publicly Owned Improvements referenced herein. 2. COMPENSATION AND METHOD OF PAYMENT The Agency shall contribute to the construction of the Publicly Owned Improvements in an amount not to exceed Nine Million Four Hundred Fifty Five Thousand Dollars ($9,455,000.00), with the breakdown of project costs as shown in Exhibit A attached hereto and incorporated herein. The Agency shall pay the City the actual cost incurred by the City for the Publicly Owned Improvement construction work set forth in Section 1. The amount to be paid by the Agency hereunder shall be paid in the same fiscal year as the year in which the debts are incurred by the city. LIABILITY AND INDEMNIFICATION In contemplation of the provisions of Section 895.2 of the Government Code of the State of California imposing certain tort liability jointly upon public entities solely by reason of such entities being parties to an agreement as defined by Section 895 of said Code, the parties hereto, as between themselves, pursuant to the authorization contained in Section 895.4 and 895.6 of said Code, will 2 8OA-46