Title
Transportation Department recommending Chairman be authorized to sign the Construction Responsibility and Reimbursement Agreement with El Dorado Irrigation District for the Latrobe Road Realignment, Widening, and Bridge Project, Suncast Lane to Golden Foothill Parkway, Project 72403.
RECOMMENDED ACTION: Approve.
FUNDING: El Dorado Irrigation District (EID) will fund its share of the costs. For the County share, the provisions of the Funding, Credit, and Reimbursement Agreement between West Valley, LLC, and the County of El Dorado require that the developer of West Valley advance fund the construction of the Latrobe Road project through the prepayment of El Dorado Hills Traffic Impact Mitigation (TIM) fees. A bond was issued and a portion of the proceeds were used to prepay $23 million in El Dorado Hills TIM fees. These prepaid fees are held in a segregated fund and will be utilized to fund the Latrobe Road and White Rock Road improvements, which include these EID facilities costs.
Body
BUDGET SUMMARY:
Total Estimated Cost $ 2,450,000
Funding
Budgeted $
New Funding $
Savings $
Other * $ 2,450,000
Total Funding Available $ 2,450,000
Change To Net County Cost $ 0
* to be included in FY 07-08 midyear update and FY 08-09 budget
Fiscal Impact/Change to Net County Cost:
The total construction cost associated with the EID work is estimated at $2,106,000. EID shall be responsible for 62.93% of the actual costs associated with the installation of all EID facilities, which is estimated to be $1,325,000. EID will also pay the County an additional 26% of their share of the direct construction costs as reimbursement for the indirect construction items, including flagging, construction management, traffic control, water and dust pollution controls, and other related costs, bringing the total estimate to $1,670,000. The County shall be responsible for 37.07% of the actual costs, w...
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