Pikes Peak Rural Transportation Authority, Project MTF M240-208 (25190)

Cost of Work Estimate

Pikes Peak Rural Transportation Authority has estimated the total cost of the Work to be $6,145,450.00, which is to be funded as follows:

1. FUNDING
   1. State Funds (50% of MMO Award): $3,072,725.00
   2. Local Agency Funds (50% of MMO Award): $3,072,725.00
   3. TOTAL FUNDS ALL SOURCES: $6,145,450.00
2. ESTIMATED PAYMENT TO LOCAL AGENCY
   1. State Funds Budgeted: $3,072,725.00
   2. Less Estimated State Share of CDOT-Incurred Costs: $0.00
   3. TOTAL ESTIMATED PAYMENT TO LOCAL AGENCY (50%): $3,072,725.00
   4. TOTAL ESTIMATED FUNDING BY LOCAL AGENCY (50%): $3,072,725.00
3. FOR CDOT ENCUMBRANCE PURPOSES
   1. Total Encumbrance Amount (Only State funds are encumbered): $3,072,725.00
   2. Less ROW Acquisition 3111 and/or ROW Relocation 3109: $0.00
   3. NET TO BE ENCUMBERED BY CDOT IS AS FOLLOWS: $3,072,725.00

Note: No funds are currently available. Design and Construction funds will become available after execution of an Option letter (Exhibit B) or formal Amendment.

• WBS Element 25190.10.30, Performance Period Start*/End Date N/A, Design 3020, $0.00
• WBS Element 25190.20.10, Performance Period Start*/End Date N/A, Design 3301, $0.00

*The Local Agency should not begin work until both of the following are in place: 1) the execution of the document encumbering funds for the respective phase; and 2) Local Agency receipt of the official Notice to Proceed. Any work performed before these two (2) milestones are achieved will not be reimbursable.

Funding Ratios

The funding ratio for the State funds for this Work is 50% State funds to 50% Local Agency funds, and this ratio applies only to the $6,145,450.00 that is eligible for State funding. All other costs are borne by the Local Agency at 100%. If the total cost of performance of the Work exceeds $6,145,450.00, and additional State funds are not available, the Local Agency shall pay all such excess costs. If the total cost of performance of the Work is less than $6,145,450.00, then the amounts of Local Agency and State funds will be decreased in accordance with the funding ratio described in A1. This applies to the entire scope of Work.

Maximum Amount Payable

The maximum amount payable to the Local Agency under this Agreement shall be $3,072,725.00. For CDOT accounting purposes, the State funds of $3,072,725.00 will be encumbered, but the Local Agency funds of $3,072,725.00 will NOT be encumbered. The total budget of this project is $6,145,450.00, unless this amount is increased by an executed amendment before any increased cost is incurred. The total cost of the Work is the best estimate available, based on the design data as approved at the time of execution of this Agreement, and any cost is subject to revisions agreed to by the parties prior to bid and award. The maximum amount payable will be reduced without amendment when the actual amount of the Local Agency’s awarded Agreement is less than the budgeted total of the State funds and the Local Agency funds. The maximum amount payable will be reduced through the execution of an Option Letter as described in Section 6 of this contract. This applies to the entire scope of Work.