Agenda - Council Work Session - 06/07/2011

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The City will contribute up to $3.1 million (to be negotiated) for completion of the Project for one or more of the following purposes: 3: D. Met Council Funding 4- Formatted: Normal, No bullets or numbering, Tab stops: 0", Left + Not at 0.75" The Met Council will contribute $1.3 million for completion of the Project. ARTICLE V FINANCIAL MANAGEMENT OF THE PROJECT A. General. The Met Council will be responsible for maintaining the official and complete accounting records for the Project. It will provide to the other Parties the structure for coding and tracking expenditures. This coding will be used for costs incurred for the Project regardless of source of funds or repayment status. B. Grant Management. As Grantee of FTA funds, -- --- -the Met Council has primary responsibility for compliance with federal requirements. Accordingly, the. Met Council will oversee and coordinate all activities relating to budgets, procurement and project controls. The Met Council — will provide assistance to the other Parties so that the Project will comply with said federal requirements. C. Funding Agreements. , has entered into or will enter into separate Funding - ... Formatted: Highlight -------------------------------------------------------- Agreements ("Funding Agreements") with other parties to this agreement or other entities to provide a method of transfer of Project funds to those parties for acquisition of property or equipment, or for other Project services. D. Project Budget. The budget for the Project ("Project Budget") is attached hereto and incorporated herein as Exhibit B. ARTICLE VI CONSTRUCTION AND IMPLEMENTATION OF THE PROJECT Met Council will coordinate construction and implementation of the Project with individual Project activities being carried out by the various parties to this agreement. The project management team organization chart and key staff is attached hereto and made a part hereof as Exhibit C. The following describes the responsibilities of the Parties with respect to construction and implementation of the Project. A. Met Council Met Council will obtain the local approvals and permits it deems necessary for the Project. Where compliance with building, mechanical, electrical, elevator, fire or other construction code is either required by the laws of the State of Minnesota or is determined to be advisable by Met Council, and the enforcement has been delegated by the Met Council to another Party, Met Council and/or its contractors will prepare permit applications, and pay, for any and all permits normally required by the Party for work regulated by the code(s). 0