TITLE
Approval of Master Development Agreement between Monroe County School District and Gorman and Company, LLC for Sugarloaf Affordable Housing Project RFQ 2020022
BACKGROUND INFORMATION
MCSD and Gorman and Company, LLC intend to construct approximately 20 apartment units and on-site amenities for residents. The Project will be developed in financially feasible manner, compliant with applicable federal, state, and local rules and laws. The Project will be affordable to tenants whose incomes are on average at or below the area median income.
This Contract does not obligate the Board to pursue this project to construction. The Board will be faced with a decision in December 2020 to either move forward with the project by leasing or deeding the SLS Housing Subarea to Gorman, or to cancel the project and this contract. Included in this Contract is a Predevelopment Phase Project Fee Schedule, setting forth the timeline for costs to be incurred by the vendor during the design phase of this project. Costs incurred by Gorman will be owed by the District only if the development is not completed, with the Project Fee Schedule setting forth the estimated costs to the District if the project is cancelled before the Development Phase begins, and only to the extent these costs have been incurred by Gorman prior to cancellation of the Agreement.
BUDGET INFORMATION
Item Budgeted?
Total Cost: $106,998 (Predevelopment Costs if Contract Cancelled in Lieu of Development)
Budget Coding:
Requisition Attached?
CONTRACT INFORMATION
Contract with: Gorman and Company, LLC
Contract value: $106,998 (Predevelopment Costs if Contract Cancelled in Lieu of Development)
Budget coding:
Contract Purpose / Description: To design and develop 20 workforce housing units at the Sugarloaf School.
Contract Originator: Gaelan Jones, Board Attorney
RECOMMENDATION
Approval of Master Development Agreement between Monroe County School District and Gorman and Company, LLC for...
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