REQUEST FOR CITY COUNCIL ACTION
DATE: 06/05/2024
TO: Honorable Mayor and City Council Members
FROM: Public Works Department
SUBJECT:
Title
FIRST AMENDMENT TO THE COST SHARING AGREEMENT WITH REST AREA, LLC UP TO THE AMOUNT OF $143,500 FOR THE CORONA MALL SOUTH PARKING LOT IMPROVEMENTS PROJECT
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EXECUTIVE SUMMARY:
This staff report asks the City Council to approve an amendment to the Cost Sharing Agreement (Agreement) with Rest Area, LLC for design of the Corona Mall South Parking Lot Improvements Project (Project).
RECOMMENDED ACTION:
Recommended action
That the City Council:
a. Approve the First Amendment of the Cost Sharing Agreement with Rest Area, LLC for the CORONA MALL SOUTH PARKING LOT IMPROVEMENTS Project, in a fair share amount up to $143,500.
b. Authorize the City Manager, or his designee, to execute the First Amendment of the Cost Sharing Agreement with Rest Area, LLC in a fair share amount not to exceed $143,500, including any non-substantive extensions, change orders, purchase orders, and amendments.
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BACKGROUND & HISTORY:
The City has an existing Disposition and Development Agreement with Rest Area, LLC. to revitalize the Corona Mall South to stimulate economic development and reinvestment in the Downtown. This revitalization project fulfills multiple Strategic Plan and General Plan goals to promote a strong and diversified economic base and revitalize Downton Corona into a thriving and vibrant destination. The Corona Mall South parking lot improvements is one of the many components included in the 6th Street Beautification and Revitalization Capital Improvement Project No. ST-2022-02.
On April 5, 2023, the City entered into a Cost Sharing Agreement with Rest Area, LLC to redesign the South Mall Parking Lot in order to provide a refreshed parking lot that will enhance the center in both function and design. This Agreement was entered into as the proposed improvements would be mutually beneficial for Rest Area, LLC as we...
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