Agenda - Public Works Committee - 07/16/2013

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The Estimated Cost of the Project is $1,374,100. B. The Actual Project Costs for this project, above the Federal Funding and Anoka County Contribution, will be split between the City of Anoka and City of Ramsey using a percentage split with 55% of said costs being assigned to the City of Anoka and 45% being assigned to the City of Ramsey. This cost split is based on the "Project Cost and Financing Summary document created by Bolton Menk dated March 29, 2013 and is summarized as Exhibit A of this document. These percentages were determined by assigning the estimated project cost east of the center of the westerly bridge to the City of Anoka and the estimated project cost west of the center of the westerly bridge to the City of Ramsey. C. The City of Anoka has been named the project manger of this project. As such, the City of Anoka will apply for the available Metropolitan Council federal Transportation Enhancement Grant funds, estimated to be $440,100 and allocate said funds to the overall total project cost. Funding obligations not covered by the federal funds will be paid for by the City of Anoka. The City of Anoka will then invoice the City of Ramsey their funding obligation based on the percentages described in paragraph III. B. D. The County shall not be required to pay for any of the Actual Project Costs until such time as the County receives funding from the Metropolitan Council's Regional Park and Trail grant program. E. At the time the County receives funding from the Metropolitan Council's Regional Park and Trail grant program, the County agrees to reimburse the Cities for part of the Actual Project Costs in an amount not to exceed $340,000 if the Actual Project Costs equal or exceed $1,026,070. If the Actual Project Cost is less than $1,026,070, the County agrees to reimburse the difference between the Actual Project Costs less the amount of $686,070. In no case shall the County's obligation to reimburse the Cities for the Actual Project Costs exceed $340,000. F. Upon receipt of County reimbursement funds, the City of Anoka will receive 55% of said reimbursement funds and the City of Ramsey will receive 45%. IV. TERM This Agreement shall continue in force until such time as the TIdILspu1tation Enhancement funding grant is 'open' and shall sunset upon the closure of this grant by the Metropolitan Council or closure of the reimbursement by Anoka County of the Anoka County procured grant, whichever is later, and concurrence by the parties named within this JPA. V. DISBURSEMENT OF FUNDS All funds disbursed by the City(ies) pursuant to this Agreement shall be disbursed by each entity pursuant to the method provided by law. VI. CONTRACTS AND PURCHASES 3