Title
Transportation Department recommending the Board take the following actions:
(1) Authorize the Director of said Department to execute Contract Change Order (CCO) No. 25 and CCO No. 25 Supplement 01 in the amount of $265,185.20 for the Latrobe Road Realignment, Widening and Bridge Project, Suncast Lane to Golden Foothill Parkway, Project 72403;
(2) Authorize a Contingency Budget increase in the amount of $266,000 to $1,191,000 for the Latrobe Road Realignment, Widening and Bridge Project, Suncast Lane to Golden Foothill Parkway, Project 72403.
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 have been held in a segregated fund and have been utilized to fund the Latrobe Road and White Rock Road improvements which include this project.
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BUDGET SUMMARY:
Total Estimated Cost $266,000.00
Funding
Budgeted $266,000.00
New Funding $
Savings $
Other $
Total Funding Available $266,000.00
Change To Net County Cost $0
Fiscal Impact/Change to Net County Cost:
The cost associated with the construction phase of the project was estimated at and was programmed in the Department's 2008 Capital Improvement Program at $11,460,000.00. Given the bid results at the time of award the cost associated with the construction phase of the project was revised and the new estimate was $9,147,769.50. The budget provided for the following:
Bid Price $6,627,769.50
Supplemental Items $ 195,000.00
Construction Support $1,400,000.00
Contingency Budget $ 925,000.00
Total $9,147,769.50
Contingency Budget ...
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