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Funding Breakdown <br /> The City funding source breakdown for the various items detailed on the Amendment to the Local <br /> Agency Agreement is given on Table 1 below. Costs are based on the low bid prices provided by <br /> Otto Baum Company, Inc. <br /> Table 1. Franklin Streets cape Project Fundis <br /> ITEP City Bond <br /> 1 Type of Work Grant city City Funds City MFT Fund & Total City <br /> % /o Source Cost Gen Fund Cost <br /> Cost <br /> 2 Sidewalk and Landscaping(Bid Price) 80% 20% MFT $243,057 $243,057 <br /> 3 Street Lighting(Bid Price) 50% 50% MFT $395,773 $395,773 <br /> 4 Street Improvements(Bid Price) 0% 100% MFT $20,208 $20,208 <br /> 5 Festival Power and Fiber Optic Conduit 0% 100% Bond Fund $57,200 $57,200 <br /> (Bid Price) <br /> 6 Construction Engineering(Chastain) 80% 20% MFT $10,000 $10,000 <br /> 7 Construction Engineering(City) 80% 20% General $35,075 $35,075 <br /> Fund <br /> 8 Total Construction Costs $669,038 $57,200 $716,238 <br /> 9 Total Construction Engineering Costs $10,000 $35,075 $45,075 <br /> Project Schedule <br /> Bids for this project were opened by IDOT on April 25, 2014. They generally sign a formal <br /> construction contract within 6-8 weeks of the letting, probably the middle to end of June. Until the <br /> contract is signed and a preconstruction meeting is held the planned schedule will not be known. The <br /> contract specifications require the Contractor to be shut down prior to the Decatur Celebration so it is <br /> likely that limited construction, if any, will be conducted prior to the Celebration. <br /> The project is to be completed by July 2015. All work will be under the control of the Illinois <br /> Department of Transportation. <br /> POTENTIAL OBJECTION: There are no known objections to these resolutions. <br /> INPUT FROM OTHER SOURCES: Illinois Department of Transportation <br /> STAFF REFERENCE: Richard Marley, Public Works Director and Matt Newell, City Engineer. <br /> Richard Marley will be in attendance at the City Council meeting to answer any questions of the <br /> Council on this item. <br /> Page 13 <br />