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City Council <br /> Meeting Minutes <br /> February 19, 2013 <br /> Page 8 of 11 <br /> 2) Section 4. The City's total contribution to the $12,500,000 project is a total of <br /> $3,518,195 by payment in three installments. <br /> 2013 Payment (Full Payment due 12/31/13) $1,172,732.00 <br /> 2014 Payment (Full Payment due 12/31/14) $1,172,732.00 <br /> 2015 Payment (*) $1,172,732.00 <br /> Total City Funding $3,518,195.00 <br /> *The 2015 payment is due no later than December 31, 2015 or 30 days after the <br /> date of the final acceptance of the work, whichever first occurs. <br /> 3) As referred to in Recital 5, CDOT will secure funding from RTD and Superior <br /> through separate agreements. Specifically, RTD will provide $3.5 Million towards <br /> the transit facilities in the project and Superior will provide $4,518,195 as their <br /> contribution to the project. Exhibit C of the agenda materials includes a <br /> spreadsheet detailing the cost allocation. <br /> 4) CDOT will provide $963,000 of FASTER funding towards the Project as identified <br /> in Recital 9. <br /> 5) Staff has requested one change to the contract to recognize that 2014 and 2015 <br /> payments are subject to future budgeting and appropriation, consistent with the <br /> three-year payment option and TABOR requirements. An updated contract from <br /> CDOT with this change is expected prior to the Mayor signing it. <br /> COUNCIL COMMENT <br /> Mayor Muckle voiced his appreciation to the Louisville and Superior planning and public <br /> works staff. He agreed this was a very rapid process and noted it will improve the <br /> transit on the highway. <br /> MOTION: Mayor Pro Tern Dalton moved to approve Resolution No. 9, Series 2013, <br /> seconded by Council member Loo. Roll call vote was taken. The motion carried by a <br /> vote of 7-0. <br /> Council member Keany requested the Council Comments, Committee Reports be made <br /> before the executive session. There was consensus. <br /> COUNCIL COMMENTS, COMMITTEE REPORTS, AND IDENTIFICATION OF <br /> FUTURE AGENDA ITEMS <br /> Councilmember Keany reported at the February 18 Finance Committee meeting it was <br /> announced the City is within a few hundred thousand dollars of the 2005 high for sales <br />