ACTION REQUESTED:
Title
Communication from the City Manager and the Corporation Counsel with a Request to Approve an Agreement Between RED CARPET PROPERTIES, INC. and the City of Peoria.
Body
BACKGROUND:
Red Carpet Properties, Inc. owns the property identified as 711 W. Glen Avenue (the “Property”) within the City of Peoria. Red Carpet Properties, Inc The Property has a large stormwater drainage improvement underneath private property but connecting public infrastructure. The stormwater improvement needs replaced and it is in the best interests of the City to have the infrastructure placed both in the public right of way and in a public easement. This Agreement defines the scope and responsibilities of the parties jointly undertaking the construction of new stormwater drainage improvements on the Property.
FINANCIAL IMPACT: The City of Peoria will pay for 50% of the cost of the new stormwater drainage improvements, up to a maximum amount of $400,000.00.
NEIGHBORHOOD CONCERNS: None.
IMPACT IF APPROVED: The new improvements will ensure adequate stormwater drainage and alleviate water drainage issues in the area.
IMPACT IF DENIED: Inadequate stormwater drainage could lead to excessive water buildup and flooding in the area.
ALTERNATIVES:
EEO CERTIFICATION NUMBER:
WHICH OF THE GOALS IDENTIFIED IN THE COUNCIL’S 2014 - 2029 STRATEGIC PLAN DOES THIS RECOMMENDATION ADVANCE?
1. Attractive Neighborhoods with Character: Safe and Livable
WHICH CRITICAL SUCCESS FACTOR(S) FROM THE COMPREHENSIVE PLAN DOES THIS RECOMMENDATION IMPLEMENT?
1. Invest in our infrastructure and transportation.
DEPARTMENT: Legal