HomeMy WebLinkAboutMULBERRY LEMAY CROSSINGS, LOT ONE, FILING ONE - FINAL PUD - 36-96D - MEDIA - (17)L..,ocal
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rt Collins Coloradoan
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house
on owed
funds
Road repair
money sent back
to developer
By MATTHEW BENSON
The Coloradoan
Fort Collins' City Coun-
cil on Monday authorized
the reimbursement of
$984,565.26 to the devel-
oper of the Mulberry-
Lemay Crossings shop-
ping center for the con-
struction of a four -lane in-
tersection at the corner of
Mulberry Street and
Lemay Avenue.
Council's unanimous
vote also stipulates the city
will pay the developer,
Mark Goldberg, an addi-
tional $278,174 for im-
provements to the inter-
section — 40 percent of the
cost increases the project
has incurred over the past
year.
Goldberg's accepted bid
for the project is $695,435
more than it would have
cost a year ago — mostly,
Mayor Ray Martinez said,
due to increases in the
price of materials and the
time delay.
"You wait a year, and the
price is going to go up. You
just know that," he said.
The intersection lies at
the doorstep of the
375,000-square-foot Mul-
berry-Lemay Crossings
shopping center now un-
der construction. Its an-
chor, a Wal-Mart Super -
center, is slated to open in
late August.
The city had planned to
construct a roundabout at
the intersection. Under
that plan, Goldberg paid
the city $984,565.26 — plus
$200,000 for a pedestrian
bridge over the Poudre
River.
In late February, how-
ever, construction bids
for the roundabout came
back about $1 million over
the city's estimate, and
the roundabout was
killed.
According to the city's
contract with Goldberg,
he's responsible for im-
provements to the corner if
it's built as a traditional
four -lane intersection.
Thus, the city refunded
Goldberg his contribution
on Monday — and another
$32,294 the city earned in
interest while it held the
money.