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Appendix C <br /> Proiect funding and schedule <br /> Project Funding <br /> It is expected that the Illinois Public Water Supply Program(which is administered by the IEPA) <br /> will fund up to $10 million of the costs associated with engineering and construction of the South <br /> Elevated Water Storage Tank, Booster Pump Station, and the Water Distribution Main from the <br /> South Water Treatment Plant (SWTP)to the City's elevated water tanks on East Garfield and West <br /> Division. Staff anticipates that a portion of the loan will be offset with$2.5 million in American <br /> Reinvestment Recovery Act (ARRA) funds with the balance being paid by a 0% interest loan as <br /> outlined below. The actual loan amount will not be determined until the conclusion ofthe project <br /> when actual costs are known. Engineering and construction costs in excess of$10 million will be <br /> paid by the City. Construction contingencies of 10%will be included in the loan amount to cover <br /> any unforeseen problems that may arise, especially with construction through older sections of the <br /> city. <br /> Project Budget Water Main Water Both <br /> Tank/Pump Projects <br /> Station <br /> Engineering Design $355,000 $169,000 $524,000 <br /> Low Bid $5,758,140 $2,588,000 $8,346,140 <br /> Construction $575,814 $258,800 $834,614 <br /> Contingencies <br /> Construction Engineeritlg $550,000 $150,000 $700,000 <br /> Total Project Cost $7,238,954 $3,165,800 $10,404,754 <br /> Loan Forgiveness ($1,816,050) ($683,950) ($2,500,000) <br /> Total $5,422,904 $2,481,850 $7,904,754 <br /> Project Timeline <br /> I-EPA Issued a Preliminary Environmental Impact Determination (PEID) <br /> (A PEID is a document issued by the I-EPA when they determine the August 3, 2009 <br /> proposed action will have no significant effect on the environment.) <br /> Facilities Plan Approval from EPA August 3, 2009 <br /> Both projects were advertised for bids August 9, 2009 <br /> PEID was advertised, for public input August 13, 2009 <br /> A Public Hearing was held concerning the PEID August 24, 2009 <br /> Pre-Bid Conference was held at the Civic Center September 2, 2009 <br /> Project Plan Approval from the I-EPA September 17, 2009 <br /> Bids Opened by the City September 29, 2009 <br /> City Council Approves I-EPA Loan Agreement October 5, 2009 <br /> Page � 7 <br />