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TO: |
Board of Trustees |
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THROUGH: |
Jay Fox, Executive Director |
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FROM: |
Dave Hancock, Chief Capital Services Officer |
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PRESENTER(S): |
Dave Hancock, Chief Capital Services Officer |
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Tracy Young, Grants Director |
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Jared Scarbrough, Director of Capital Design and Construction |
TITLE:
title
Contract: Transit Transportation Investment Program Funds (TTIF) Cooperative Funding Agreement for Sharp / Tintic Project - UTA Local Match (Utah Department of Transportation)
end
AGENDA ITEM TYPE:
Non-Procurement Agreement
RECOMMENDATION:
Approve and authorize UTA’s Executive Director to execute the agreement and authorize the cumulative payments up to $1,128,843.86 to the Utah Department of Transportation (UDOT).
BACKGROUND:
As part of the plan for the FrontRunner South extension to Payson, there is a section in the city of Springville where a connection needs to be made between the Sharp/Tintic railroad corridors to ultimately provide a path for the FrontRunner South extension.
This project is a cooperative effort between UDOT and UTA, developed over several years. Following the passage of HB322, UDOT assumed management of this project. The Utah Transportation Commission recently approved Transit Transportation Investment Fund (TTIF) monies for this project, contingent on the project receiving the required local match.
There are several municipalities who have contributed local match to this project. This payment request amount will make up the difference on the remaining match necessary to make the TTIF approved funds of $16,000,000.00 eligible for use on this project.
DISCUSSION:
To access the $16,000,000.00 TTIF approved funds, it is contingent on the full match contributions from local municipalities and UTA.
To date, UDOT has identified $22,638,299.00 in funding sources, inclusive of the TTIF approved funds towards the needed project value of $23,767,142.86. The balance between the amounts, $1,128,843.86 represents UTA’s remaining portion, and is contingent on accessing the full match amount being committed.
Current estimates anticipate this amount will carry the project through the design phase as well as funding most of the construction.
The general terms of the contract are 10 years from date of signature. UTA is anticipating making payments in 2025-2028 with the bulk of the funds distributed in 2028.
CONTRACT SUMMARY:
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Contractor Name: |
Utah Department of Transportation |
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Contract Number: |
24-P00425 |
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Base Contract Effective Dates: |
10 years from Agreement |
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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 Contract Value: |
$1,128,843.86 |
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Procurement Method: |
NA - Non Procurement Agreement |
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Budget Authority: |
2025 Approved Capital Budget |
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ALTERNATIVES:
UTA could negotiate revisions to the Agreement with UDOT that are deemed prudent. Without this match, UDOT would not have access to the $16,000,000.00 in TTIF funds.
FISCAL IMPACT:
The 2025 capital budget for MSP215 project includes a progress payment to UDOT, a portion of the $1,128,843.86 amount. UTA anticipates a not-to-exceed amount for payments in 2025, 2026, and 2027 of $30,000.00 respectively, and the balance of $1,038,843.86 to be disbursed in 2028. All of these funds are UTA funds. The breakdown below outlines the amounts approved in the 2025 Capital Budget and 2025-2029 Five Year Capital plan which show sufficient amounts for the aforementioned projected expenditures occurring in each year:
2025 Capital Budget: $70,000.00
2026 Five Year Capital Plan Amount: $70,000.00
2027 Five Year Capital Plan Amount: $70,000.00
2028 Five Year Capital Plan Amount: $1,500,000.00
All funding would be coming from the MSP215- Sharp/Tintic Rail Corridor Connection capital project.
Note - there are no encumbrances currently for MSP215 for the budget and plan years of 2025-2028
ATTACHMENTS:
UDOT TTIF Cooperative Agreement PIN 14988_LegalSigned