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RESOLUTION AUTHORIZING EXECUTION OF INTERGOVERNMENTAL AGREEMENT WITH THE COLORADO DEPARTMENT OF TRANSPORTATION REGARDING THE POTOMAC STREET OVER O’BRIEN CANAL BRIDGE REPLACEMENT PROJECT
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Summary and Background Information:
The Public Works Department recommends the approval of this IGA and the appropriation of these funds for the construction of a new bridge located over the O’Brien Canal on Potomac Street.
Staff Responsible (Department Head): Joe Wilson, Director of Public Works
Staff Member Presenting: Brent Soderlin, CIty Engineer
Financial Impact: The total grant awarded as a part of this IGA is $950,000. The IGA is broken out as an 80/20 split between CDOT and the City. CDOT is contributing $760,000 and the City is contributing $190,000.
Funding Source: The Potomac Street Bridge budget is broken out as follows: $760,000 grant from CDOT, and $552,460 from the Capital Improvements and Preservation Plan fund. For a total budget of $1,312,460.
Staff Recommendation: Public Works recommends executing the IGA with CDOT.
Suggested Motion: I move to approve Resolution #2020-45.