2009-073 Council Resolution - Laserfiche WebLink

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• III. COSTS A. The contract cost of the work, or if the work is not contracted, the cost of all labor, materials, reimbursable utility relocations, normal engineering costs and equipment rental required to complete the work shall constitute the actual "construction costs" and shall be so referred to herein. "Estimated costs" are good faith projections of costs which will be incurred for the Project. Actual costs may vary from the estimated costs and actual costs are what the parties are responsible for. B. Participation in the cost of the final design for the Project is as follows: 1. The estimated fmal design costs for the Project are $912,500 as shown in the attached Exhibit A. 2. The Project has been awarded an appropriation of federal funds for fmal design. i. Federal HPP funds capped at $730,000. 3. The County shall pay One Hundred percent (100 %) of the remaining final design cost after federal funds have been applied. The cost to the County is $182,500. C. Participation in the cost of land acquisition for the Project is as follows: • 1. The estimated land acquisition costs for the Project are $5,600,000 as shown in . the attached Exhibit A. • 2. The County shall pay for forty percent (40 %) of the cost of the land acquisition. The cost to the County is $2,240,000. 3. The City shall pay for sixty percent (60 %) of the cost of the land acquisition. The cost to the City is $3,360,000. D. Participation in the cost of construction for the Project is as follows: 1. The estimated construction costs for the Project are $14,000,000 as shown in the attached Exhibit A. 2. The Project has been awarded two amounts of federal funds for construction. i. Federal STP funds capped at $5,775,000 (20% local match required). ii. Federal ARRA funds capped at $6,825,000. 3. The County agrees to contribute forty percent (40 %) to the remaining construction cost after federal and state funds have been applied. The estimated local cost (total cost less federal and state funds) of the construction is $1,435,000 as shown in Exhibit A. The cost to the County is $574,000. 3