City Council Minutes 2004 09 21 - Laserfiche WebLink

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Louisville City Council Meeting September 21, 2004 Page 8 of 11 on September 13, 2004. Changes included formatting and more substantive changes on Page 3, 4 and 9. Resolution No. 43, Series 2004 authorizes the Mayor to negotiate and approve final revisions to the agreement, so that the City may address Superior's final requested changes. Balser reviewed the highlights of the agreement as follows: 1) Affirmation that the northeast loop remains the preferred alternative of both parties for the second phase improvements. 2) Louisville and Superior shall share equally in the full project cost after application of Louisville's $5,000,000 credit and any non-party funds (federal, state, private or other local sources). The project includes both the southwest loop (first phase) and the northeast loop or other improvements (second phase). 3) Louisville shall directly incur and pay consultant costs for the second phase improvements, which costs shall be shared equally by the parties, as Superior is currently handling for the first phase improvements. Louisville's $5,000,000 credit identified under the July 1997 IGA will first be applied to project costs. 4) The project cost shall include a 4% administrative fee for both phases, with Superior managing the first phase and Louisville the second phase. 5) Within 30 days of the final EIS, the committee (consisting of two elected officials and one staff official from each community) shall meet and identify the second phase improvements to be designed and constructed. 6) The parties shall prepare an estimated budget for the second phase improvements as soon as possible after issuance of the FEIS. Concurrently with the preparation of such estimated budget, each party shall prepare a draft financing plan outlining the manner in which each party will provide the funds for its respective portion of the costs of the second phase improvements. 7) The parties will enter into a subsequent maintenance and operations agreement to address responsibilities for maintenance, operation and repairs of interchange improvements. 8) In the event either party defaults and construction is delayed, the non-defaulting party may proceed with construction in accordance with the terms of this agreement, and the defaulting party shall be liable for its share of the costs of the improvements. Balser reported the Town of Superior has initiated an investigation into possible interim improvements to help with traffic operations during the coming peak holiday season. The latest cost estimate for interim improvements is $70,000, with 15% estimated as throwaway. It is estimated the work would be in operation for ten evenings and would start the last week of September or the first week of October. Automated message boards will be displayed three to four days prior to construction.