V.1. CR 2015-010 Approve Master Funding Agreement Between the City of Hopkins and Met Council - SWLRT
January 14, 2015 Council Report
2015-010
MASTER FUNDING AGREEMENT – SOUTHWEST LRT
Proposed Action
Staff recommends adoption of the following motion: Move to approve the Master
Funding Agreement between the City of Hopkins and the Metropolitan Council.
With this motion the Master Funding Agreement will be executed.
Overview
As a city directly involved in the construction of the SW LRT project, Hopkins is an
interested party in how the line is developed. Throughout the planning and design the
City of Hopkins has recommended items that are necessary to fully-connect and
enhance the project’s benefits. Several of those items have not been included in the
project base budget and may be items that the City elects to pay for through design,
environmental and construction phases.
The Master Funding Agreement (MFA) provides a mechanism for the transfer of SW
LRT project funds from the City to the Project for non-project components including
Locally Requested Capital Investments (LRCIs), or from the Project to the City when the
City is providing services or materials in support of the project. Subordinate Funding
Agreements will follow the MFA, relating to specific activities such as the City’s LRCIs.
The Hopkins City Attorney has been representing the SW LRT communities on the
negotiation of the agreement and is comfortable with the terms.
Primary Issues to Consider
What are the major terms of the Master Funding Agreement?
Supporting Information
Master Funding Agreement
____________________________
Kersten Elverum
Director of Planning & Development
Financial Impact: $0 Budgeted: Y/N _____ Source: ________________
Related Documents (CIP, ERP, etc.): _______________________________________
Council Report 2010-010
Master Funding Agreement
Page 2
Analysis of the Issues
What are the major terms of the Master Funding Agreement (MFA)?
The MFA details the Subordinate Funding Agreement form and the terms under which
funds would be transferred between the two parties. For work agreed to be added by
the Metropolitan Council, but paid for by the City, the Council will add the following fees:
Contract Administration 3%
Construction Inspection 2%
Survey and Staking 2%
Materials Inspection 1%
The agreement also details the federal requirements that are passed on to the City via
the agreement and provides for a dispute resolution process.
Alternatives
The City Council has the following alternatives regarding this issue:
Approve the Agreement as proposed
Recommend modifications to the Agreement
Elect not to enter into the Agreement