(7)AR 052008 Valley Blvd/BNSF Grade Separation project

Browse Search

Cooperative Agreement No. C08161 fifty-one dollars ($2,434,751), is AUTHORITY's share and shall be funded by public funds such as Measure I or other public funds available to AUTHORITY, as detailed in Table 1 —Cost Estimate and Cost Share Breakdown Between the CITY and AUTHORITY. b) CITY agrees to reimburse AUTHORITY for its share of cost estimated at one million fifty three thousand two hundred seventy-five dollars ($1,053,275) as detailed in Table 1—Cost Estimate and Cost Share Breakdown Between the CITY and AUTHORITY. c) AUTHORITY agrees its share of cost for this PROJECT is estimated at two million four hundred thirty-four thousand seven hundred fifty-one dollars ($2,434,751) as identified in Table 1—Cost Estimate and Cost Share Breakdown Between the CITY and AUTHORITY. d) CITY agrees AUTHORITY is providing Project Management/Administration services and agrees to reimburse AUTHORITY for actual costs incurred for Project Management/Administration services rendered by AUTHORITY which may be lower or higher than $459,728. These costs consist of AUTHORITY staff and project management consultant salaries, overhead, a fee, and other direct costs, as estimated in Table 1. Table 1 identifies AUTHORITY staff by position and hourly rate for the purposes of establishing a budget; however, it does not preclude AUTHORITY from being reimbursed for AUTHORITY staff and project management consultant salaries not listed in Table 1. e) CITY agrees if it cannot meet the requirement of funding 19.6% of the PA&ED/PS&E costs with developer contributions, AUTHORITY may consider this a breach and AUTHORITY reserves the right to terminate this Agreement pursuant to the Termination for Cause provisions in Section 1. f) CITY and AUTHORITY agree the cost estimate (refer to Table 1) is an "estimate" and is subject to change, and as a result, PARTIES agree that the stipulated cost is an "estimate" to be used for budgetary and planning purposes and it is understood that there is a potential for cost increases or decreases. Both PARTIES agree to share the increases or decreases in costs per the fixed, fair share percentages identified in this Section of the Agreement. In the event the cost estimates change, increasing monetary obligations, CITY and AUTHORITY agree to consider to amend this Agreement, including Table 1, if necessary and at a time as mutually agreed, to update the respective cost share for the PARTIES; and to obtain the necessary budget amendment authorization from the governing bodies of the PARTIES to fully fund the PA&ED or PS&E phases of the PROJECT. SECTION III Project Management/Administration a) AUTHORITY shall render project management services and provide engineering support services utilizing AUTHORITY's available staff which will be supplemented with consultants that are specifically procured for the PROJECT. b) AUTHORITY will procure the necessary professional services to establish a project team as identified in Figure 1— Project Team Organization & Roles and Responsibilities Overview and to supplement the team as warranted by the PROJECT. c0816Ldocx 4 of 10