8816-15 Authorize $676,500 loan with OPWC for Watermain Replacement Project

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APPENDIX D LOCAL SUBDIVISION CONTRIBUTION, PROJECT FINANCING AND EXPENSES SCHEME AND DISBURSEMENT RATIO t) OPWC/LOCAL SUBDIVISION PARTICIPATION PERCENTAGES: For the sole and express purpose of financing/reimbursing costs of the Project defined and described in Appendix A of this Agreement, the estimated costs of which are set forth and described in this Appendix D, the Recipient hereby designates its Local Subdivision Percentage Contribution as amounting to a minimum total value of 59% percent of the total Project Cost. The OPWC participation percentage shall be 41% percent. However, in the event of a cost over -run, the maximum OPWC dollar contribution shall not exceed the amount identified in Appendix C. 2) PROJECT FINANCING AND EXPENSES SCHEME: The Recipient further designates the Project's estimated financial resources and estimated costs certified to the OPWC under this Agreement for the Project as defined and described in Appendix A of this Agreement to consist of the following components: a) PROJECT FINANCIAL RESOURCES i) Local In -kind Contributions $0 ii) Local Public Revenues $973,500 iii) Local Private Revenues $0 iv) Other Public Revenues: $1.650.000 - ODOT /FHWA $0 - OEPA $0 - OWDA $0 - CDBG $0 - Other $0 SUBTOTAL 97$ 3,500 v) OPWC Funds: - Loan $676,500 SUBTOTAL $676,500 TOTAL FINANCIAL RESOURCES $1.650.000 b) PROJECT ESTIMATED COSTS: i) Project Engineering Costs: - Preliminary Engineering $10,000 - Final Design $115,000 - Construction Administration $125,000 ii) Right -of -Way $0 iii) Construction Costs $1,385,000 iv) Materials Purchased Directly $0 v) Permits, Advertising, Legal $15,000 vi) Construction Contingencies $0 TOTAL ESTIMATED COSTS $1,650,000