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r . I <br /> � � <br /> ECONOMIC AND URBAN DEVELOPMENT MEMORANDUM <br /> Memo No. 07-84 <br /> July 11, 2007 , <br /> TO: Honorable Mayor Paul Osborne and City Council ' <br /> FROM: Steve Garm City Manager '' <br /> Greg C. C , Director of Economic & Urban Developmen� <br /> SUBJECT: Olive Garden Site Costs <br /> SUMMARY RECOMMENDATION: It is recommended that the City Council approve the <br /> attached resolution reimbursing GMRI, Inc. $15,361.00 for site improvement costs associated <br /> with the construction of Olive Garden at Mound Center. <br /> BACKGROUND: 'The requested reimbursements for site improvements agreed upon in the <br /> Purchase Agreement between the City and GMRI were approved by City Council on March 20, <br /> 2006. The requested site improvement costs include: <br /> A. Use of Hot Tap to shut off Water Main: $3,451.00. <br /> B. Storm Sewer Excavation:$6,893.00. <br /> C. Replacement of Unsuitable Soils: $1,802.00. <br /> D. Jack and Bore under the Gas Line:$3,215.00. <br /> INPUT FROM OTHER SOURCES: The requested reimbursements have been reviewed and <br /> certified by the site engineer, Phil Cochran <br /> POTENTIAL OBJECTION: N/A <br /> STAFF REFERENCE: An additional uestions ma be forwarded to Gre Crowe at 424- <br /> Y 9 Y g <br /> 2727 or at gccrowe(�a,decaturnet.or�. <br /> BUDGET/TIME IMPLICATIONS: Part of the cost for the site improvement costs <br /> ($5,319.36)will be reimbursed to GMRI, Inc.out of an escrow account established at the time of <br /> closing. The remaining amount ($10,041.64)will be taken out of the Planning Fund. <br />