CT2015-070 Intergovernmental Agreement

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2. Complete the conceptual design of the East Side Detention Facility and Larimer and Weld Canal Crossing, including modeling and collaboration with the Lake Canal Ditch Company to determine the acceptable crossing structure to accomplish the goals of the Authority's Master Plan; 3. Initiate Final Design efforts (including Phase II of the geotechnical investigation - seismic site, seepage and stability analysis) for the East Side Detention Facility and Larimer and Weld Canal Crossing in order to prepare estimated costs for use in a loan application to the Colorado Water Conservation Board; 4. Initial coordination, meetings and preparation for United States Army Corps of Engineers permitting and coordination with the Colorado Office of the State Engineer;and 5. Coordination, preparation, design and engineering for conditional letter of map revision (CLOMR) and letter of map revision (LOMR) which are required by the Projects extending from the detention facility to where Boxelder Creek crosses under Interstate 25. (c) The work described in Subsection 2.2(b)is intended to allow Authority to maintain an efficient design, submittal and construction schedule focused on an expedited completion of the Projects in a timely manner with a targeted completion by the end of 2014. (d) The Authority hereby agrees to maintain appropriate documentation and make any reports,data or design deliverables produced for the Authority available for the TDA's review and use. 2.3 Funding. (a) Following the design engineering phase described above,the TDA hereby agrees that it shall provide funds toward the Authority's Construction Costs and Financing Costs of the Projects ("Costs") in an amount not to exceed twenty-five percent (25%) of the Costs actually incurred by the Authority (the "Funding Contribution"). The Costs of the Projects are currently estimated to be $9,900,000. Payments under this agreement shall be due within 45 days of receipt of an invoice prepared by the Authority and are contingent upon a satisfactory showing that the Authority has readily available funds to match the funds requested from the TDA in the amount of three (3) dollars for every one (I) dollar requested from the TDA by the Authority. In the event that the Costs exceed the estimate stated above, the Authority agrees to meet with TDA and provide documentation to TDA confirming the need to increase the estimated Costs of the Projects. Moreover,the parties agree that any Project Cost increases in excess of 25% of the estimated budget shall be subject to mutual approval by the parties. The parties understand and agree that a part of the purpose of the ongoing design and engineering for the Projects is to provide more accurate information as to the Costs of the Projects. Page 4 of 10