Title
Transportation Department recommending the following pertaining to the Latrobe Road Realignment, Widening and Bridge Project, Suncast Lane to Golden Foothill Parkway, Project 72403:
1) Award construction contract to the lowest responsive, responsible bidder; said bidder to be determined after the bid opening scheduled for March 27, 2008;
2) Authorize Chairman to sign said contract with the lowest responsive, responsible bidder, subject to review and approval of the final contract documents by County Counsel and Risk Management; and
3) Authorize Director of said Department to execute Contract Change Orders with an individual value up to $150,000, provided the cumulative total of all change orders is within the contingency budget established for the project.
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 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 this project.
Body
BUDGET SUMMARY:
Total Estimated Cost $ 12,650,000
Funding
Budgeted $ 7,105,000
New Funding $
Savings $
Other* $ 5,545,000
Total Funding Available $12,650,000
Change To Net County Cost $0.00
*to be included in FY 08-09 budget.
Fiscal Impact/Change to Net County Cost:
The FY 07-08 budget appropriated $7,105,000 for construction costs for this project with the balance to be budgeted in FY 08-09. The recently adopted Five Year CIP estimates the same total cost but indicates that only $4,585,000 will be expended during FY 08-09.
The cost associated with ...
Click here for full text