Title
RESOLUTION TO APPROVE A COST SHARING AGREEMENT WITH THE CITY OF ANN ARBOR FOR GEOTHERMAL ADVISORY AND PROFESSIONAL SERVICES
Memorandum
Whereas, Through partnership with the City of Ann Arbor, the DDA has begun work on a new DDA Development and TIF Plan, including working with the Office of Sustainability and Innovations to assess geothermal feasibility downtown;
Whereas, In March of 2024 City Council authorized a Professional Services Agreement with Stantec Consulting Services, Inc. for Geothermal Advisory and Design Services;
Whereas, Included in the Stantec Professional Services Agreement is a detailed study of the geothermal potential in three areas of the City, including the DDA District;
Whereas, The City and DDA have drafted the attached cost-sharing agreement, with the DDA’s share not to exceed $110,000;
Whereas, The DDA's FY24 CIP budget includes capacity for this study;
RESOLVED, That the DDA Board approves the agreement between the City of Ann Arbor and the DDA for Geothermal Advisory and Design Services to be paid from its General/TIF Fund in an amount not to exceed $110,000;
RESOLVED, That all amounts herein are approved without regard to fiscal year;
RESOLVED, That the DDA Executive Director is authorized to execute the agreement with the City of Ann Arbor.