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FINAL ACCEPTANCE AND FINAL PAYMENT OF CONTRACT K-1718-60 BY AND BETWEEN THE NORMAN TAX INCREMENT FINANCE AUTHORITY AND G & S SIGN SERVICES, L.L.C. FOR THE UNIVERSITY NORTH PARK ROBINSON STREET ENTRANCE SIGN PROJECT.
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BACKGROUND: Council approved the University North Park ("UNP") Tax Increment Finance District ("TIF") Project Plan on May 23, 2006. The Project Plan authorized public improvements within the TIF, including Traffic and Roadway Improvements, a Hotel Conference Center and Cultural Facilities and an Economic Development Component that would foster special employment opportunities in the UNP development.
City Council expressed a desire for entrance signage into the UNP development at the intersection of Robinson and 24th Avenue. Amendment No. 1 to Development Agreement No. 5 set out a funding and cost-sharing mechanism for the decorative entrances into the UNP development. Costs for the Robinson Street Entrance were shared equally by the UNP Business Improvement District (the "BID", funded through TIF sales and property tax apportionments and business owner assessments) and the Developer of the south half of the UNP District, UTC, LLC.
On April 25, 2017, City Council approved Contract K-1617-123 with Goppold Architecture for the design and construction oversight for the Robinson Street Entrance.
On October 10, 2017, City Council approved Contract K-1718-60 with G & S Sign Services for the construction of the Robinson Street Entrance. The construction budget was $300,885 but the low bid from G & S Sign Services was in the amount of $373,820. Since this exceeded the budget, the project architect and the contractor worked to identify any excess quantities contained in the bid as well as substitute materials to bring the project within budget.
Council approved Change Order No. 1 to Contract K-1718-60 contemporaneously with approval of the contract reducing the overall project by $37,521. UNP BID funds, based on a unanimous recommendation...
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