IV.6. Amendment to SW LRT Subordinate Funding Agreement - 06; ElverumSeptember 25, 2018 Council Report 2018-112
AMENDMENT TO SW LRT AGREEMENT - 06
Proposed Action
Staff recommends adoption of the following motion: Move to approve Amendment One
to SW LRT Subordinate Funding Agreement 06 (Local Funding Contribution).
With this motion, the amendment will be executed and the new payment schedule
adopted.
Overview
In July 2015, the City of Hopkins passed Resolution 2015-053, committing $500,000 as
a City contribution to the SW LRT project. The commitment was formalized through
Subordinate Funding Agreement 06.
The payment schedule for the contribution was based on the anticipated project
schedule. Since that time, there have been significant delays in the project. The
Metropolitan Council has proposed a revised payment schedule to reflect the current
status of the project.
Under the new payment schedule, payments will be made 30, 182 and 548 days from
Limited Notice to Proceed. Based on the anticipated schedule, the City will be paying
the first two payments later than the current schedule but could be required to pay the
third payment sooner than that original schedule.
Primary Issues to Consider
This action does not change the amount the City of Hopkins will contribute, rather it
reflects the current schedule of the project and the dates by which payments are due.
Supporting Information
• Amendment Number One to Contract for Services Metropolitan Council
Contract No. 14I059F
____________________________
Kersten Elverum
Director of Planning & Development
Financial Impact: $0 Budgeted: Y/N _N___ Source: Related Documents (CIP,
ERP, etc.): Excess TIF
Contract 14I059F Page 1
METROPOLITAN COUNCIL
390 North Robert Street, St. Paul, MN 55101-1805
(651) 602-1000
AMENDMENT NUMBER ONE
to
CONTRACT FOR SERVICES
Metropolitan Council Contract No. 14I059F
City of Hopkins and the Metropolitan Council (“COUNCIL”) agree that the contract entered into on
January 26, 2017, relating to “Subordinate Funding Agreement City of Hopkins 06 Local Funding
Contribution ,” is amended in the following particulars.
1. EXHIBIT B TO CONTRACT Payment Schedule for Funding Contribution amended
in the following particulars:
DELETE the Exhibit B and REPLACE with the following
EXHIBIT B: Payment Schedule for Funding Contribution
Payment # Payable on or before Amount
1 30 Days following SWLRT
Project Civil Contract
Limited Notice to Proceed
1
$166,666.67
2 182 Days following
SWLRT Project Civil
Contract Limited Notice to
Proceed 1
$166,666.67
3 548 Days following
SWLRT Project Civil
Contract Limited Notice to
Proceed 1
$166,666.66
Except as amended hereby, the provisions of the above-referenced contract shall remain in force and effect
without change.
IN WITNESS WHEREOF, the parties have caused this amendment to be executed by their duly authorized
officers on the dates set forth below.
CITY OF HOPKINS METROPOLITAN COUNCIL
By: ______________________________ By: ___________________________________
(Please print name legibly below)
______________________________
Signer
Its: ______________________________ Its: Regional Administrator
Date: ______________________________ Date: ___________________________________
Contract 14I059F Page 2
By:
(Please print name legibly below)
______________________________
Its: ______________________________
Date: ______________________________