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TO: |
Board of Trustees |
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THROUGH: |
Mary DeLoretto, Interim Executive Director |
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FROM: |
William Greene, Chief Financial Officer |
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PRESENTER(S): |
William Greene, Chief Financial Officer |
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TITLE:
title
Contract: Pass Through Funding Agreement - Depot District 2022 Funding (Utah Department of Transportation)
end
AGENDA ITEM TYPE:
Non-Procurement Agreement
RECOMMENDATION:
Approve the Agreement to pass through $500,000 from UDOT to fund the Depot District Project at UTA
BACKGROUND:
In Senate Bill 3, Item 169, the 2021 Utah State Legislature allocated a one-time total of $500,000 from the state’s General Fund to support construction of UTA’s Depot District project.
Utah Code Section 63J-1-220(2) mandates that UDOT may not provide UTA with state pass through funding unless an agreement is executed.
DISCUSSION:
The attached agreement (Exhibit A) details the terms of the agreement including the objective, payment schedule, key activities, budget and deliverables and roles of the parties to the agreement.
Upon execution of the agreement, UDOT commits to make four (4) equal payments to UTA on a quarterly basis.
CONTRACT SUMMARY:
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Contractor Name: |
Utah Department of Transportation |
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Contract Number: |
21-P00135 |
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Base Contract Effective Dates: |
November 10, 2021 - June 30, 2022 |
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Extended Contract Dates: |
N/A |
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Existing Contract Value: |
N/A |
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Amendment Amount: |
N/A |
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New/Total Amount Contract Value: |
$500,000 |
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Procurement Method: |
Pass Through Funds Agreement |
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Funding Sources: |
State General Fund |
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ALTERNATIVES:
Not accept the funds from the State.
FISCAL IMPACT:
These funds support the completion of the Depot District Project.
ATTACHMENTS:
Contract