Ord 2014-027/Dedicating fifty percent of its tax increment from the FM 110 transportation reinvestment zone and approving an interlocal agreement with Hays County

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CSJ # 3545 -01 -005, 3545 -02 -007, 3545 -02 -008, 3545 -02 -009, 3545 -03 -003, 3545 -03 -004 District # 14 - Austin Code Chart 64 # 50106 Project: FM 110 Federal Highway Administration CFDA # 20.205 Not Research and Development 12. Local Project Sources and Uses of Funds A. A Project Budget Estimate is provided in Attachment C. The State and the Federal Govemment will not reimburse the Local Government for any work performed before the federal spending authority is formally obligated to the Project by the Federal Highway Administration. After federal funds have been obligated, the State will send to the Local Government a copy of the formal documentation showing the obligation of funds including federal award information. The Local Govemment is responsible for one hundred percent (100 %) of the cost of any work performed under its direction or control before the Federal spending authority is formally obligated. B. If the Local Govemment will perform any work under this contract for which reimbursement will be provided by or through the State, the Local Government must complete training before federal spending authority is obligated. Training is complete when at least one individual who is working actively and directly on the Project successfully completes and receives a certificate for the course entitled Local Government Project Procedures Qualification for the Texas Department of Transportation. The Local Government shall provide the certificate of qualification to the State. The individual who receives the training certificate may be an employee of the Local Govemment or an employee of a firm that has been contracted by the Local Government to perform oversight of the Project. The State in its discretion may delay the start of this project if the Local Government has not designated a qualified individual to oversee the Project. C. A Source of Funds estimate based on the Transportation Improvement Program (TIP) is also provided in Attachment C. Attachment C shows the percentage and estimated dollar amount to be contributed to the project by federal, state, and local sources. The parties agree that the LPAFA may be amended from time to time as required to meet the funding commitments based on revisions to the TIP, Federal Project Authorization and Agreement (FPAA), or other federal document. D. The Local Government is responsible for all non - federal and non -state funding, including any project cost overruns, unless otherwise provided for in this agreement or through amendment of this agreement. E. The State will deliver the project for a guaranteed maximum price ( "GMP "). The GMP assumes completion by a specific date, the "Completion Deadline." The Completion Deadline shall be December 31, 2017, provided that the Local Govemment has completed sufficient right -of -way acquisition and utility relocations to allow construction to begin by June 30, 2015, and further provided that all right -of -way acquisition and utility relocations are completed by Local Government in a manner which does not adversely impact the ability of the State or its contractor to complete the Project by the Completion Deadline. For purposes of this LPAFA, "completion of the Project" means that the Project can safely be opened to traffic in its entirety with traffic traveling at normal posted speed limits. In the event the Local Govemment fails to timely complete the required right -of -way acquisition and /or utility relocations, the Completion Deadline and the Payment Deadline shall be extended by agreement of the parties. F. The GMP shall be based on the project budget approved by the State and the Local Govemment and shall include costs of: construction, construction inspection, management, oversight and contingency, in addition there will also be a factor for the time value of money (4.20 %), the "TVM factor ", provided that the TVM factor shall be reduced to 3.5 %, and recalculated accordingly, if the GMP and associated TVM factor (as recalculated) are paid in AFA -LPAFA ShortGen.doc Page 3 of 9 Revised 02/06/2014