Submitted By
Jill Velan, Director of Parking and Mobility Services
Reviewed By
LKS
Agenda Item Title
Title
A Resolution Authorizing the Purchase and Installation of Streetscape Materials Related to Curbs, Gutters and Sidewalks Adjacent to the Lake and Forest Development and Directing the Village Manager to Execute Any and All Documents to Effectuate the Purposes of this Resolution Pursuant to the Fourth Amendment to the Amended and Restated Redevelopment Agreement between the Village of Oak Park and WDF-3 Wood Oak Park Owner, LLC.
End
Overview
Overview
The Village has entered into a redevelopment agreement with WDF-3 Wood Oak Park Owner, LLC (RDA). Included in this redevelopment agreement are provisions for streetscape improvements which include the use of materials that are of the same palette as Marion Street. Staff has worked with the developer and recommends the elimination of granite curbs and gutter from the palette. Section 5.4 of the RDA calls for the Village to pay for a portion of the upgraded cost.
Body
Staff Recommendation
Approve the Resolution.
Fiscal Impact
With the savings realized from removal of the granite curb and gutters, the Village's portion of the net cost difference for the sidewalk materials, including bluestone pavers, will be approximately $50,000, and the demolition change orders will be approximately $30,000. The streetscape was included in the Lake and Forest Development budget as well as a contingency for demolition work, and will be paid for with bond proceeds.
Background
The RDA for the Lake and Forest Development requires WDF-3 Wood Oak Park Owner, LLC (Developer) to install upgraded materials as the same palette as Marion Street including public walks, curbs and gutters. The RDA requires the Village to reimburse the Developer for a portion of the costs to install the upgraded materials.
The Lake Street Streetscape Committee was created at the direction of the Village Board to rev...
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