Title
A Resolution authorizing the execution of a sewer improvement agreement between Regency Park, LLC, and the City of Coral Gables, subject to the requirements of the Public Works Department and provided that the executed agreement be made part of this resolution authorizing an amendment to the fiscal year 2023-2024 annual budget to recognize $475,000 contribution toward the city sewer improvement fund as revenue and to appropriate such funds to be used towards sewer improvements.
Body
Regency Park, LLC has agreed to fund the partial construction of sewer improvements consisting of pipe upsizing from 18” to 24” of approximately 590 linear feet of gravity sewer pipe along Alcazar Avenue, from Ponce de Leon Boulevard to Alhambra Circle, and approximately 346 linear feet of gravity sewer pipe along Galiano St. from Alhambra Cir. to Alhambra Plaza (Pump Station 2).
This project will generate the necessary sewer capacity for their respective projects, Regency on the Park and 1000 Ponce, as well as future developments in and around the improvement area located within the Sanitary Sewer Basin City 2. Upon completion of these sewer improvements, the City will assume ownership and maintenance of the sewer system.
The total cost of the city sewer project is $1,941,960 which will be funded by the developer’s contribution of $475,000, a $1.1M FEMA Hazard Mitigation grant and the remaining balance will be funded by the City’s Sanitary Sewer fund.
Fiscal Impact
These improvements will allow for future sewer capacity and reduce the City’s maintenance in this section.