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2010-06-23 CC Packet
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2010-06-23 CC Packet
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III. COSTS <br />The contract costs of the work, or if the work is not contracted, the cost of all labor, materials, <br />normal engineering costs and equipment rental required to complete the work, shall constitute <br />the actual "construction costs" and shall be so referred to herein. "Estimated costs" are good <br />faith projections of the costs, which will be incurred for this project. Actual costs will vary and <br />those will be the costs for which the relevant parties will be responsible. <br />The estimated construction cost of the total project (including County furnished materials) is <br />$10,714,642.03. Federal funds available for the Project are capped at $10,514,150.00. The <br />federal funds shall be split based on the ratio of eligible cost incurred by each party to the total <br />eligible project cost. Eligible costs are the costs of items that can participate in federal funding <br />as shown on Exhibit B. Participation in the construction cost is as follows: <br />The total estimated cost to the City for the project is summarized below: <br />1 3" Bituminous Walk $ 2,750 <br />2 Concrete Curb and Gutter B424 $ 5,432 <br />3 Truncated Domes $ 806 <br />4 EVP for Traffic Control Signal System A (21 Ave) $ 2,000 <br />$2,198. <br />Total Estimated Share of Construction Cost To The City $ 10,988 <br />Estimated Federal Funds available to the City $ 8,790 <br />Total Cost less Federal Funds $ 2,198 <br />The total estimated construction cost to the City (less Federal Funds) for the project is <br />Upon award of the contract, the City shall pay to the County, upon written demand by the <br />County, ninety five percent (95 %) of its portion of the cost of the project estimated at $ 2,088. Prior to <br />billing, this estimate will be updated by the County to reflect the actual bid prices as awarded. An <br />updated cost estimate shall be provided to the City at the time of billing. The City's share of the cost of <br />the project shall include only construction expense and does not include administrative expenses incurred <br />by the County. <br />Upon final completion of the project, the City's share of the construction cost will be based upon <br />actual construction costs. If necessary, adjustments to the initial ninety five percent (95 %) charged will <br />be made in the form of credit or additional charges to the City's share. Also, the remaining five percent <br />(5 %) of the City's portion of the construction costs shall be paid. <br />
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