Laserfiche WebLink
COOPERATIVE AGREEMENT NO. C-1-3099 <br />1 WHEREAS, the CITY has agreed to provide non federal funding in the amount of Five <br />2 Hundred Fifty Four Thousand One Hundred Seventy Dollars ($554,170) or (10%) as the required <br />3 local match for the PROJECT; and <br />4 WHEREAS, the AUTHORITY is the designated grant recipient for Federal Transit <br />5 Administration (FTA) Section 5307 funds and will reimburse CITY for eligible expenditures, <br />6 contingent upon funds being approved by FTA; and <br />7 WHEREAS, AUTHORITY and CITY agree CITY must fulfill M2 eligibility requirements prior <br />8 to release of M2 funds; and <br />9 WHEREAS, CITY and AUTHORITY agree that the total full funding for the PROJECT <br />10 including project development activities and Preliminary Engineering shall be Five Million Five <br />11 Hundred Forty One Thousand Seven Hundred Dollars ($5,541,700) in accordance with EXHIBIT A <br />12 "FUNDING PLAN", attached hereto and incorporated by reference; and <br />13 WHEREAS, under the direction of the AUTHORITY, the CITY agrees to be responsible for <br />14 project development and Preliminary Engineering Phases of said PROJECT; and <br />15 WHEREAS, CITY and AUTHORITY are mutually desirous of advancing PROJECT and will <br />16 work cooperatively to identify potential funding sources to continue that effort; and <br />17 WHEREAS, CITY agrees to fulfill M2 Comprehensive Transportation Funding Program <br />18 Guidelines and FTA funding compliance and reporting requirements; and <br />19 WHEREAS, CITY and AUTHORITY agree if reimbursement procedures differ between M2 <br />20 Comprehensive Transportation Funding Program and FTA reimbursement procedures, FTA <br />21 reimbursement procedures shall take precedence; and <br />22 WHEREAS, this Cooperative Agreement defines the specific terms, conditions, and funding <br />23 responsibilities between AUTHORITY and CITY for completion of the PROJECT; and <br />24 WHEREAS, AUTHORITY's Board of Directors approved this Cooperative Agreement on <br />25 <br />26 <br />Page 3 of 17 <br />25D-6