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Financial Implications <br /> <br />The maximum award available for each project is $1,000,000. The TAB reserves the <br />right to partially fund any project. The local (nonfederal) match in funding for any <br />project must be at least twenty percent (20%) of the total project cost. Project <br />construction and materials, right of way and land acquisition are all eligible costs. <br />Engineering, study completion and design are NOT eligible for reimbursement. Projects <br />selected from this solicitation will be programmed in fiscal year 2017; July 1, 2017 to <br />June 30, 2018. <br /> <br />The preliminary estimate for this project is a total project cost of $2,017,522.50, <br />including engineering. The table below breaks down the total project costs: <br /> <br />Construction Cost Breakdown <br />Federal Match $ 700,000.00 <br />City/County Match $ 846,767.25 <br /> Total $ 1,546,767.25 <br /> <br />The following table lists the local project costs after the federal match has been applied. <br /> <br />Local Project Costs- after federal match <br />Construction Costs $ $645,015.00 <br />Contingencies (15%) $ 201,752.25 <br />Engineering (35%) $ 470,755.25 <br />Total Costs $ 1,317,522.50 <br /> <br />The local match is estimated to be $cost participation <br />policy states the County may contribute up to 50% of the trail construction cost on <br />projects like these. The County will be entering this project into their Transportation <br />Improvement Program (TIP). Their participation is limited to items necessary for the <br />trail construction. We anticipate that they will contribute approximately $125,000- <br />$150,000. This actual amount will not be finalized until the project moves into design. <br /> <br />Council Action Requested <br /> <br />A motion to adopt Resolution No. 2014-004: A Resolution supporting Federal <br />Transportation Alternatives Program funding application submittal for an off street <br />shared use trail on Old Highway 10 from Lake Valentine Road (Valentine Park) to <br />County Road E and County Road E from Old Highway 10 to the Highway 51 bridge. <br /> <br />Attachments <br /> <br />Attachment A: Project Map <br />Attachment B: Resolution No. 2014-004 <br /> <br />P:\Admin\Council\Agendas & Packet Information\2014\01-13-14-R\Michelle\memo.doc <br /> <br /> <br />Page 2 of 2 <br />