R2016-31 TO AUTHORIZE ADDITIONAL FUNDS

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Public Works Memorandum NO. 2016-12 DATE: March 10,2016 TO: Honorable Mayor Julie Moore Wolfe and City Council Members FROM: Tim Gleason, City Manager Richard G. Marley, P.E., Public Works Director SUBJECT: Resolution to Authorize Additional Funds to Pay the City's Final Cost for the Eldorado Street Enhancement Project City Project 2006-25, State Section 06-00625-00-SW SUMMARY RECOMMENDATION: It is recommended that the City Council authorize the additional sum of$29,578.74 in the General Capital Improvements fund for the final payment required under the Agreement with the State of Illinois for the Eldorado Street Enhancement project which was completed in 2010. PRIOR COUNCIL ACTION: Appendix A provides a summary of the prior Council actions related to this item. BACKGROUND: Project Status and Schedule The original Local Agency Agreement between the City and the State of Illinois was executed by IDOT on April 13, 2009. The Local Agency Agreement established maximum expenditures for Illinois Transportation Enhancement Program (ITEP) funds and Illinois Department of Transportation(IDOT) funds. FINAL PROJECT COSTS AND AUTHORIZED FUNDING Item Total Cost ITEP Funds IDOT Funds City Funds Final Streetscape Construction Cost $1,414,843.91 $1,131,875.13 $282,968.78 Final 100%City Costs $6,747.06 $6,747.06 Final Eldorado Street Paving and Curb&Gutter Cost $1,065,408.90 $1,065,408.90 �$48,142.90 City Reimbursement for Eldorado Street Pavement Work $72,734.00 $72,734.00 Final Project Cost $2,559,733.87 $1,131,875.13 $1,138,142.90 $337,858.74 Maximum Authorized Amount for Construction $2,635,596.00 $1,237,316.00 $1,090,000.00 $308,280.00 Amount Under Authorized(Overage) $75,862.13 $105,440.87 I($48,142.90) 2($29,578.74) �' Note 1: The City owes for expenses in excess of the maximum amount. Note 2: The final project amount owed by the City. Page � 1