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Transportation Department recommending the Chairman be authorized to sign the Plans and Contract Documents for the White Rock Road Realignment and Widening of Manchester Drive to Latrobe Road Project 72401; and requesting authorization for construction bids to be received on Thursday, October 11, 2007.
RECOMMENDED ACTION: Approve.
FUNDING: 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 White Rock 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 this project.
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BUDGET SUMMARY:
Total Estimated Cost $ 4,760,000
Funding
Budgeted $ 980,000
New Funding $
Savings $
Other * $ 3,780,000
Total Funding Available $ 4,760,000
Change To Net County Cost $0.00
* to be included in addenda for FY 07-08. The draft Capital Improvement Program for DOT includes this entire amount of $4.7 million.
Fiscal Impact/Change to Net County Cost:
The cost associated with the construction phase of this project is estimated at $ 5,360,000, which includes an estimated bid of $4,760,000: a base cost of $4,240,000, supplemental items at $87,000 and contingency of $433,000. Construction management and material testing, which will not be a part of the subject bid, add an additional $600,000 to the project cost.
Funding for all costs associated with this project have been advanced by the Developer of the West Valley View project through prepayment of impact fees. There is no net cost to the County General Fund associated with this agenda item.
Reason for Recommen...
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