DATE: December 18, 2024
TO: Honorable Mayor and City Councilmembers
FROM: Public Works Department
TITLE: AMENDMENT 1 WITH OSIDE ARENA HOLDINGS, LLC TO AGREEMENT FOR REIMBURSEMENT OF COSTS FOR EL CORAZON SIGNAGE
RECOMMENDATION
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Staff recommends that the City Council approve Amendment 1 to the Agreement with Oside Arena Holdings, LLC for Reimbursement of Costs for the City's portion of costs in the amount of $30,000, for a total not to exceed amount of $128,220, pertaining to the El Corazon signage; and authorize the City Manager to execute the amendment upon receipt of all supporting documents.
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BACKGROUND AND ANALYSIS
The adopted sign program for El Corazon contemplates a variety of signs associated with both the City venues and private development planned for the property. Several of these signs were recently installed in conjunction with the Frontwave Arena and the soon to open Luma at El Corazon apartment community. The City of Oceanside ("City") entered into an agreement with Oside Arena Holdings, LLC ("Oside") for reimbursement of costs for the El Corazon gateway, directional and monument signage for the easterly side of El Corazon between Dr. Hugh La Bounty Drive and Senior Center Drive on August 13, 2024 ("Reimbursement Agreement"). The original Reimbursement Agreement, approved under the City Manager's signature authority, is in the amount of $98,220, and at this time staff is requesting to enter into Amendment 1 with an increase to the City's share of costs in the amount of $30,000 to the Reimbursement Agreement for a total of $128,220. The increase in costs pertain to costs for concrete bracing of the City's two new monument signs due to existing slope areas at the signage locations for the Senior Center and Aquatic Center, along with reflective signage additions for two existing signs, and added contingency funds for potential minor signage alterations, if necessary.
The City and Oside Arena Holdings, LLC are parties to that certa...
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