Description
Title: Resolution to Approve a Cost Share Agreement ($1,960,484) with the City of Ann Arbor for the Ann Street Improvements Project.
Summary
The document outlines an agreement between the City of Ann Arbor and its Downtown Development Authority (DDA) regarding the Ann Street Improvements Project. This project involves various enhancements including water main replacement, stormwater system installation, curb bump-outs, and road resurfacing along Ann Street. The total estimated project cost is approximately $7.3 million, with funding responsibilities allocated as follows: 73% by the City, 24% by the DDA, and 3% from parking revenues. The City will manage the project, including contracting with Bailey Excavating, Inc. for construction. This collaboration is significant as it formalizes cost-sharing and operational responsibilities, ensuring improvements are made efficiently while enhancing community infrastructure.