Res 1999-199 - Laserfiche WebLink

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Part II - OtTer of Financial Assistance 1. The allowable costs of the project shall not include any costs determined by the State to be ineligible for consideration as to allowability under the V.T.C.A. Transportation Code, Title 3, Chapters 21-22, et seq., (Vernon and Vernon Supp). 2. It is estimated that project costs will be approximately $120,000 (Amount A). It is further estimated that approximately $120,000 (Amount B) of the project costs will be eligible for financial assistance, and that financial assistance will be for ninety percent (90%) of the eligible project costs. Project costs eligible for financial assistance shall be determined by the State. It is estimated that the Sponsor's share of the project costs will be approximately $12,000 (Amount C) and the state's financial assistance share of eligible project costs will be approximately $108,000 (Amount D). Financial assistance is subject to the availability of state funds. This grant should not be construed as block grant funds for the Sponsor, but as a grant for funding of the scope items as listed on page one of this agreement. It is the intent of the Agent to provide funding to complete the approved work items of this grant and not to amend the scope of work to include items outside of the current determined needs of this project. Scope of work may be amended as necessary to fulfill the unforeseen needs of this specific development project within the spirit of the approved scope, subject to the availability of state and/or local funds. 3. Should actual eligible project costs exceed the amount shown above (Amount B), the State may participate in the additional eligible costs to the extent of the aforesaid appropriate percentages and subject to the availability of funds. Participation in additional costs may require approval by the Texas Transportation Commission. The State will not authorize expenditures in excess of the dollar amounts identified in this Agreement and any amendments hereto, without the consent of the Sponsor. Conversely, it is mutually understood and agreed that it: during the life of the project, the State determines that the grant amount exceeds the expected costs of the project scope, the grant amount can be reduced by amendment. Upon issuance of either of the aforementioned supplements, the maximum obligation of the State is adjusted to the amount specified. 4. After consultant fee negotiations, if the estimated eligible total project costs exceed Amount A, above, the Sponsor may request the State to void this Agreement, whereupon the State shall agree to void this Agreement upon the satisfaction of the following conditions: a. the Sponsor's request to the State to void the Agreement shall be in writing and dated; and Page 2 of 14