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HomeMy WebLinkAbout07/29/2013 Staff: Committee members: Steven Teglia, Assistant to the City Manager Willie Rivera, Chair Ken Weir Terry Maxwell REGULAR MEETING OF THE BUDGET AND FINANCE COMMITTEE of the City Council - City of Bakersfield Monday, July 29, 2013 12:00 p.m. City Hall North 1600 Truxtun Avenue, Bakersfield, CA 93301 First Floor, Conference Room A A G E N D A 1. ROLL CALL 2. ADOPT FEBRUARY 25, 2012 AGENDA SUMMARY REPORT 3. PUBLIC STATEMENTS 4. NEW BUSINESS A. Discussion Regarding Funding for TRIP Projects – Smith / Tandy 5. COMMITTEE COMMENTS 6. ADJOURNMENT Committee Members: Staff: Steven Teglia Ken Weir, Interim Chair Assistant to the City Manager Terry Maxwell AGENDA SUMMARY REPORT SPECIAL MEETING OF THE BUDGET AND FINANCE COMMITTEE Monday, February 25, 2013 12:00 p.m. City Hall North – Conference Room A 1600 Truxtun Avenue Bakersfield, CA 93301 The meeting was called to order at 12:00 PM 1. ROLL CALL Committee members present: Councilmember Ken Weir, Interim Chair Councilmember Terry Maxwell Staff present: Alan Tandy, City Manager Ginny Gennaro, City Attorney Rhonda Smiley, Asst. to the City Manager Josh Rudnick, Deputy City Attorney Steven Teglia, Asst. to the City Manager Doug McIsaac, Community Development Chris Huot, Administrative Analyst Ryan Bland, Community Development Nelson Smith, Finance Director 2. ADOPT MARCH 26, 2012 AGENDA SUMMARY REPORT Adopted as submitted. 3. PUBLIC STATEMENTS None AGENDA SUMMARY REPORT Budget and Finance Committee Meeting Monday, February 25, 2013 Page 2 4. NEW BUSINESS A. Discussion and Committee Recommendation Regarding FY 2013-14 CDBG Action Plan – McIsaac Community Development Director Doug McIsaac summarized the Annual Entitlements received by the City through the U.S. Department of Housing and Urban Development (HUD). These entitlements help to improve the quality of life of low to moderate income neighborhoods, improve infrastructure in the neighborhoods, and promote job opportunities for low income individuals. The HUD Community Development Block Grant Program (CDBG), HOME Investment Partnership (HOME) and Emergency Shelter Grant (ESG) entitlements for FY13-14 are $3,867,786. Staff is projecting $7,000 in program income for CDBG and $30,000 for HOME. The total proposed budget for CDBG, HOME and ESG for FY13-12 is $3,904,786. FY 2013-14 Proposed CDBG: The total resources available for FY 2013-14 are $2,713,993. This amount includes the CDBG entitlement of $2,706,993, and the project program income of $7,000. The total resources are allocated as follows:  Total Administration – 20% Cap: $542,799  Long Term Obligations: $407,483  Public Services: $350,170. Services include Fair Housing, Downtown, Old Town Kern and Southeast Police Patrol, and the Bakersfield Senior Center.  Low-Mod Benefit: $1,053,016. Services include Home Access Grant Program, and New Construction Assistance. FY 2013-14 Proposed Capital Improvement Projects: Net resources available for Capital Improvement Projects (CIP) are $360,525. Staff submitted the following consideration:  Planz Park Improvements Director McIsaac stated staff continues to work with the Department of Finance regarding the redevelopment funding for several housing projects in the amount of $4,200,000. He then presented the following programs that would be included in the CDBG program: Home Investment Partnership (HOME): The total funding available for FY 2013-14 is $954,293, 10% of which was set aside for administrative costs. This amount includes the HOME Entitlement of $954,293 and $30,000 of projected program income. AGENDA SUMMARY REPORT Budget and Finance Committee Meeting Monday, February 25, 2013 Page 3 Proposed Housing Programs: Staff estimates that the total Program/Project Costs and Direct Delivery for FY 2013-14 is $808,864. This Program/Project cost includes $138,644 in HUD mandated Community House Development Organization (CHDO) sponsored projects, and $670,220 for New Construction. Emergency Solutions Grant (ESG): Staff proposes $236,500 in emergency shelter to fund the Bakersfield Rescue Mission ($61,000), Bethany Homeless Shelter ($61,000), and Alliance Again Family Violence ($19,900); and $76,863 in homeless prevention to fund the Bakersfield Homeless Center Rapid Rehousing. Committee member Maxwell asked if there were any additional organizations seeking funding for emergency services, and if so, to include them with the three already chosen. Community Development Coordinator Ryan Bland stated Flood Ministries submitted an application for funding for the first time this year to fund a case management position. Mr. Bland stated they could be included in the funding for emergency shelter. Committee member Maxwell requested staff include Flood Ministries request and recalculate the amounts allocated to each organization. Committee member Ken Weir stated the same organizations appear to receive funding yearly and asked if there were any analysis or documentation displaying each organization is accomplishing its goals. Mr. Bland stated the HUD requirements have become more stringent and each organization is required to submit a greater amount of details data. There has been an overall improvement with each organization. Committee member Maxwell made a motion to adopt the proposals with the addition of a fourth organization receiving Emergency Shelter funding. The motion was unanimously approved. B. Discussion and Committee Recommendation Regarding Annual Audit Reports FY Ending 2012 – Smith Finance Director Smith provided a review of six separate audit reports for the fiscal year ending 2012. AGENDA SUMMARY REPORT Budget and Finance Committee Meeting Monday, February 25, 2013 Page 4 1. Comprehensive Annual Financial Statement This report represents the City’s financial statements as of June 30, 2012. The City complied, in all material respects, with accounting principles generally accepted in the United States. 2. Agreed Upon Conditions Report This report is designed to increase efficiency, internal controls, and/or financial reporting. There were two reportable conditions, the first of which pertains to an unrecorded liability that was discovered during the audit process. Staff has implemented additional procedures to ensure that year-end accruals are identified and payments are recorded in the correct period. The second condition identified pertains to internal controls related to take home vehicles. Some IRS commuting rules could have been misapplied and that daily logs tracking business miles were not maintained. Staff has reviewed the current take home vehicle policies and has discontinued the take home vehicle program with the exception of sworn personnel who are exempted from the IRS rule. The report also addresses one condition identified in the prior year report, which has been resolved to the auditor’s satisfaction. 3. Single Audit Report This report pertains to federal program monies expended by the City during the specified fiscal year. The City complied, in all material respects, with federal program guidelines. 4. Independent Auditors Report There were no audit findings. 5. Appropriations Limit There were no audit findings. 6. Rabobank Arena, Theater, Convention Center, Bakersfield Ice Sports Center, and Bright House Networks Amphitheater The report presents the financial statements for the operational unit as of June 30, 2011. There were no significant issues with the audit. Committee member Weir asked why the Rabobank Arena, Theater, Convention Center, Bakersfield Ice Sports Center, and Bright House Networks Amphitheater report contained no comparable information. AGENDA SUMMARY REPORT Budget and Finance Committee Meeting Monday, February 25, 2013 Page 5 Finance Director Smith stated that there is several inserts of comparable information throughout the report in summary format. The information for all the facilities is condensed together in the report. Committee member Maxwell asked for a detailed report on the expenses associated with each of the Rabobank facilities. Committee member Weir asked if any solar energy opportunities have been analyzed for installation on or around the arena. Administrative Analyst Chris Huot stated Public Works staff has reviewed several solar opportunities. Each facility has its own challenges; the most significant being the unknown results of a High Speed Rail Project. Committee member Maxwell made a motion to have the reports presented to the full Council for approval. The motion was unanimously approved. C. Discussion and Committee Recommendation Regarding Adoption of the 2013 Committee Meeting Schedule – Teglia The scheduled was adopted as submitted. 5. COMMITTEE COMMENTS None 6. ADJOURNMENT The meeting adjourned at 12:38 PM cc: Honorable Mayor and City Council  Bu d g e t  / Fi n a n c e  Co m m i t t e e   Di s c u s s i o n  on  TR I P  Fi n a n c i n g   an d  Pr o j e c t  Co s t  Es t i m a t e s Ju l y  29 ,  20 1 3 1 Di s c u s s i o n  Ou t l i n e  Re v i e w  es t i m a t e d  co s t s  an d  fu n d i n g  fo r  TR I P  projects  Re v i e w  th e  ba s i s  fo r  th e  es t i m a t e d  bo r r o w i n g  amount  Re v i e w  co s t  es t i m a t i n g  pr a c t i c e s  an d  gu i d e l i n e s  Re v i e w  re c e n t  ac t u a l  bi d  re s u l t s  fo r  tw o  pr o j e c t s 2 Es t i m a t e d  Pr o j e c t  Co s t s  an d  Lo c a l  Fu n d i n g  Needs 3 Pro j e c t  to  da t e  Ex p e n s e s  /Futur e  Ye a r s  Es t .  Co s t s T o t a l  Overall Estimated  Bu d g e t  th r o u g h  Ju n e  20 1 3 F Y  20 1 3 ‐14  an d  be y o n d C o s t s  ‐ All Combined To t a l  Pro j e c t  Co s t s  ‐   All  Co m b i n e d SR  17 8  Wid e n i n g 1 4 , 9 5 3 , 3 7 8 $                                                41 , 5 7 9 , 8 3 1 $                                        56,533,209 $                                  Ho s k i n g s  In t e r c h a n g e 4 , 7 0 0 , 0 0 0 $                                                    31 , 0 0 0 , 0 0 0 $                                        35,700,000 $                                  24 t h  Str e e t  Im p r o v e m e n t s 2 9 , 2 0 6 , 0 2 0 $                                                35 , 5 7 7 , 0 0 3 $                                        64,783,023 $                                  Ce n t e n n i a l  Co r r i d o r 6 1 , 2 3 6 , 8 4 8 $                                                64 8 , 9 7 1 , 4 0 0 $                                    710,208,248 $                                To t a l s  ‐   All  Pr o j e c t s 1 1 0 , 0 9 6 , 2 4 6 $                                            75 7 , 1 2 8 , 2 3 4 $                                    867,224,480 $                                Pro j e c t  De s c r i p t i o n Es t i m a t e d  Pr o j e c t  Co s t s  an d  Lo c a l  Fu n d i n g  Needs 4 Pro j e c t  to  da t e  Ex p e n s e s  /Futur e  Ye a r s  Es t .  Co s t s T o t a l  Overall Estimated  Bu d g e t  th r o u g h  Ju n e  20 1 3 F Y  20 1 3 ‐14  an d  be y o n d C o s t s  ‐ All Combined Fe d e r a l  / Sta t e  Fu n d i n g : SR  17 8  Wid e n i n g 1 3 , 2 1 5 , 3 6 7 $                                                11 , 1 5 7 , 7 3 1 $                                        24,373,098 $                                  Ho s k i n g s  In t e r c h a n g e ‐ $                                                                            ‐ $                                                                    ‐ $                                                   24 t h  Str e e t  Im p r o v e m e n t s 2 5 , 8 5 6 , 0 9 0 $                                                7,0 3 8 , 5 4 0 $                                            32,894,630 $                                  Ce n t e n n i a l  Co r r i d o r 5 2 , 9 5 7 , 7 7 6 $                                                33 1 , 9 3 1 , 9 6 3 $                                    384,889,739 $                                To t a l s  ‐   All  Pro j e c t s 9 2 , 0 2 9 , 2 3 3 $                                                35 0 , 1 2 8 , 2 3 4 $                                    442,157,467 $                                Pro j e c t  De s c r i p t i o n Es t i m a t e d  Pr o j e c t  Co s t s  an d  Lo c a l  Fu n d i n g  Needs 5 Pro j e c t  to  da t e  Ex p e n s e s  /Futur e  Ye a r s  Es t .  Co s t s T o t a l  Overall Estimated  Bu d g e t  th r o u g h  Ju n e  20 1 3 F Y  20 1 3 ‐14  an d  be y o n d C o s t s  ‐ All Combined Lo c a l  Fu n d i n g  Ne e d s :   (in c l u d e s  Co u n t y  fu n d s ) SR  17 8  Wid e n i n g 1 , 7 3 8 , 0 1 1 $                                                    30 , 4 2 2 , 1 0 0 $                                        32,160,111 $                                  Ho s k i n g s  In t e r c h a n g e 4 , 7 0 0 , 0 0 0 $                                                    31 , 0 0 0 , 0 0 0 $                                        35,700,000 $                                  24 t h  Str e e t  Im p r o v e m e n t s 3 , 3 4 9 , 9 3 0 $                                                    28 , 5 3 8 , 4 6 3 $                                        31,888,393 $                                  Ce n t e n n i a l  Co r r i d o r 8 , 2 7 9 , 0 7 2 $                                                    31 7 , 0 3 9 , 4 3 7 $                                    325,318,509 $                                To t a l s  ‐   All  Pro j e c t s 1 8 , 0 6 7 , 0 1 3 $                                                40 7 , 0 0 0 , 0 0 0 $                                    425,067,013 $                                Pro j e c t  De s c r i p t i o n Ba s i s  fo r  Es t i m a t e d  Bo r r o w i n g 6 To t a l  Es t i m a t e d  Lo c a l  Fu n d i n g  Ne e d s  =  40 7 , 0 0 0 , 0 0 0 $                       Es t i m a t e d  Co s t  of  Fi n a n c i n g  (t r a d i t i o n a l  bo n d  tr a n s a c t i o n ) 2 , 5 0 0 , 0 0 0 $                                  (T I F I A  Lo a n  wo u l d  be  le s s  ex p e n s i v e ) Le s s  Co n t r i b u t i o n s  fr o m  Ke r n  Co u n t y  : ( 5 7 , 5 0 0 , 0 0 0 ) $                         Le s s  Co n t r i b u t i o n s  fr o m  Ke r n  CO G  : ( 4 , 0 0 0 , 0 0 0 ) $                             Ne t  Ci t y  Fu n d i n g  Ne e d s  =  34 8 , 0 0 0 , 0 0 0 $                       Le s s  An n u a l  Ca s h  Fl o w  fo r  ne x t  fo u r  (4 )  ye a r s  : FY  20 1 3 ‐14 ( 1 9 , 5 0 0 , 0 0 0 ) $                         FY  20 1 4 ‐15 ( 1 9 , 5 0 0 , 0 0 0 ) $                         FY  20 1 5 ‐16 ( 1 9 , 5 0 0 , 0 0 0 ) $                         FY  20 1 6 ‐17 ( 1 9 , 5 0 0 , 0 0 0 ) $                         Es t i m a t e d  Lo c a l  Lo n g  Te r m  Bo r r o w i n g  Ne e d s  =  27 0 , 0 0 0 , 0 0 0 $                       Pr e l i m i n a r y  Fi n a n c i n g  Pl a n  Fe d e r a l  TI F I A  Lo a n  Es t i m a t e d  An n u a l  De b t  Se r v i c e  = $1 4  mi l l i o n  pe r  year  Pl a n n e d  Pl e d g e  of  th r e e  sp e c i f i c  re v e n u e  so u r c e s  Ga s  Ta x  Tr a n s p o r t a t i o n  De v e l o p m e n t  Fe e s  Ut i l i t y  Su r c h a r g e / F r a n c h i s e  Fe e s 7 Su m m a r y  of  Lo c a l  Fu n d s   Hi s t o r i c a l l y  Us e d  fo r  Ro a d  Pu r p o s e s 8 200 7 ‐08 2 0 0 8 ‐09 2 0 0 9 ‐10 2 0 1 0 ‐11 2 0 1 1 ‐12 2 0 1 2 ‐13 Una u d i t e d 2 0 1 3 ‐14 Budget Gen e r a l  Fun d 1 0 , 4 0 2 , 5 8 8               10, 3 5 8 , 2 0 7               8,5 4 1 , 3 2 4                   8,3 4 7 , 7 7 3                   8,4 0 9 , 7 4 0                   10, 8 6 7 , 3 7 7                               14,315,000             Cap i t a l  Outl a y  Fun d 3 , 7 6 9 , 4 5 0                   3,8 4 1 , 4 1 7                   3,7 0 9 , 5 2 4                   3,2 4 1 , 2 2 8                   4,2 9 1 , 3 1 0                   7,2 1 1 , 1 7 9                                   6,090,000                 Sub t o t a l  ‐  Gen e r a l  Roa d s 1 4 , 1 7 2 , 0 3 8               14, 1 9 9 , 6 2 4               12, 2 5 0 , 8 4 8               11, 5 8 9 , 0 0 1               12, 7 0 1 , 0 5 0               18, 0 7 8 , 5 5 6                               20,405,000             Des i g n a t e d  Fun d i n g :   Gas  Tax  Rev e n u e s 5 , 2 4 1 , 6 5 4                   7,2 6 8 , 6 9 2                   8,1 7 3 , 1 8 1                   8,2 5 5 , 9 9 2                   9,2 5 7 , 4 0 4                   8,3 6 2 , 8 4 8                                   7,320,000                 Tra n s p o r t a t i o n  Dev .  Fee s 1 2 , 5 1 6 , 5 1 6               12, 7 6 8 , 2 3 4               9,3 3 9 , 9 5 0                   6,8 9 7 , 1 4 7                   10, 1 5 9 , 8 8 3               16, 7 8 3 , 1 8 5                               12,000,000               Utili t y  Sur c h a r g e  Fee s ‐                                             ‐                                             3,9 5 0 , 7 9 3                   4,4 9 3 , 0 2 4                   4,6 3 3 , 6 0 2                   4,9 4 0 , 1 3 4                                   4,675,000               Tot a l  Roa d  Rel a t e d  Rev e n u e s 3 1 , 9 3 0 , 2 0 8               34, 2 3 6 , 5 5 0               33, 7 1 4 , 7 7 2               31, 2 3 5 , 1 6 4               36, 7 5 1 , 9 3 9               48, 1 6 4 , 7 2 3                               44,400,000             9 10 En g i n e e r ’ s  Es t i m a t i n g  Po l i c y  11  Ca l t r a n s  es t i m a t i n g  st a n d a r d s  Es t a b l i s h e d  in  Ch a p t e r  20 :  Pr o j e c t  De v e l o p m e n t  Cost  Es t i m a t e s ,  Ca l t r a n s  Pr o j e c t  De v e l o p m e n t  Pr o c e d u r e s   Ma n u a l  Un i t  Pr i c i n g  up d a t e d  tw i c e  a ye a r  (t h o u s a n d s  of  items)   Ac t i v e l y  co m p a r e  un i t  pr i c i n g  wi t h  si m i l a r  pr o j e c t  bids  ac r o s s  st a t e  Va l i d a t e d  by  FH W A  on  an n u a l  ba s i s  Sp e c i a l i z e d  an d / o r  ex p e n s i v e  it e m s  mo n i t o r e d  fo r  up‐to‐ da t e  pr i c i n g Ca l t r a n s  /F H W A   Co n t i n g e n c y  Pe r c e n t a g e  Gu i d a n c e 12 Ca l t r a n s Pr o j e c t  Fe a s i b i l i t y C o s t   Es t i m a t e : 30 %  to  50 % Pr o j e c t  St u d y  Re p o r t  Co s t   Es t i m a t e :   25 %   Dr a f t  Pr o j e c t  Re p o r t  Co s t   Es t i m a t e : 20 %   Pr o j e c t R e p o r t  Co s t  Es t i m a t e : 15 %   Pr e l i m i n a r y  En g i n e e r ’ s  Co s t   Es t i m a t e  fo r  Pr o j e c t  De s i g n : 10 %  of  th e   co s t   es t i m a t e Fi n a l  En g i n e e r ’ s  Co s t  Es t i m a t e   fo r  Pr o j e c t  De s i g n : 5%  or  le s s   So u r c e :  Ca l t r a n s  Pr o j e c t  De v e l o p m e n t  Pr o c e d u r e s  Ma n u a l  Ch a p t e r  20  –P r o j e c t  De v e l o p m e n t  Co s t   Es t i m a t e s Sp e c i a l N o t e : TR I P  Pr o g r a m s  ma y  em p l o y  FH W A  Co n t i n g e n c y  Gu i d a n c e Ca l t r a n s  Co n t i n g e n c y 13 14 CO S T  DI F F E R E N T I A L S  $‐  $1 0 , 0 0 0 , 0 0 0  $2 0 , 0 0 0 , 0 0 0  $3 0 , 0 0 0 , 0 0 0  $4 0 , 0 0 0 , 0 0 0  $5 0 , 0 0 0 , 0 0 0  $6 0 , 0 0 0 , 0 0 0 EI R 6 0 %  De s i g n 1 0 0 %  De s i g n P r i o r  to  Bi d B i d WESTSIDE PARKWAY P1 SR‐178 &MORNING DRIVE WESTSIDE PARKWAY P4 SR‐58 GAP CLOSURE Tr a d i t i o n a l  Co s t  Br e a k d o w n s  fo r  Pr o j e c t 15  En v i r o n m e n t a l  Ph a s e  It e m s :  En v i r o n m e n t a l  Im p a c t  Re p o r t  Pr e l i m i n a r y  Fo u n d a t i o n  Re p o r t  Pr e l i m i n a r y  En g i n e e r i n g  En v i r o n m e n t a l  Pe r m i t t i n g  Ri g h t  of  Wa y  It e m s :  RO W  Su r v e y s  Ti t l e  & Es c r o w ,  Pl a t s  & Le g a l s ,   Ap p r a i s a l s  Ut i l i t y  Re l o c a t i o n s  Ac q u i s i t i o n  Su p p o r t  Se r v i c e s  Le g a l  Se r v i c e s  Co n d e m n a t i o n / S e t t l e m e n t  De m o l i t i o n  De s i g n / E n g i n e e r i n g  It e m s :  De s i g n e r  Fe e s  Fi n a l  Fo u n d a t i o n  Re p o r t  De s i g n  Re l a t e d  Pe r m i t t i n g  Co n s t r u c t i o n  It e m s :  Co n s t r u c t i o n  Bi d  Ch a n g e  Or d e r s  Co n s t r u c t i o n  Pe r m i t t i n g  i. e .  St o r m  Wa t e r  Da t a  Re p o r t ,  Habitat  Co n s e r v a t i o n  Pl a n  Su p p l e m e n t a l  Su p p o r t  Costs  i. e .  Ag e n c y  Fu r n i s h e d  Materials, Dispute  Re s o l u t i o n  Bo a r d  Ex p e n s e s  Co n s t r u c t i o n  Ma n a g e m e n t  Services  De s i g n  Su p p o r t  Du r i n g  Construction 16 En g i n e e r ’ s  Es t i m a t e  vs .  Co s t  at Bid PR O J E C T YE A R B I D EN G I N E E R ' S ES T I M A T E (P o s t e d w i t h B i d ) CO S T A T B I D % DI F F E R E N T I A L CO S T A T B I D W / CH A N G E O R D E R S % DIFFERENTIAL SR - 1 7 8 & F A I R F A X 20 0 7 $ 4 1 , 6 0 2 , 6 2 5 $ 2 8 , 9 2 9 , 4 4 6 -3 0 . 5 % $ 3 3 , 4 9 6 , 5 7 7 -19.5% WE S T S I D E P A R K W A Y P 1 20 0 8 $ 4 8 , 3 1 0 , 0 0 0 $ 2 7 , 7 2 8 , 2 2 0 -4 2 . 6 % $ 2 8 , 1 6 0 , 7 0 1 -41.7% WE S T S I D E P A R K W A Y P 2 20 0 9 $ 1 6 2 , 9 0 0 , 0 0 0 $ 7 8 , 5 5 2 , 9 4 5 -5 1 . 8 % $ 9 5 , 0 8 6 , 1 5 3 -41.6% WE S T S I D E P A R K W A Y P 4 20 1 0 $ 2 8 , 1 0 0 , 0 0 0 $ 2 2 , 1 6 7 , 1 5 6 -2 1 . 1 % $ 2 4 , 4 4 3 , 9 2 7 -13.0% WE S T S I D E P A R K W A Y P 6 A 20 1 1 $ 4 , 0 0 0 , 0 0 0 $ 4 , 6 4 4 , 2 2 2 16 . 1 % $ 4 , 3 9 0 , 7 3 5 9.8% WE S T S I D E P A R K W A Y P 6 B 20 1 1 $ 2 0 , 4 0 0 , 0 0 0 $ 1 2 , 4 2 1 , 7 0 0 -3 9 . 1 % $ 1 2 , 4 3 8 , 2 0 0 -39.0% WE S T S I D E P A R K W A Y P 6 C 20 1 2 $ 3 2 , 8 9 5 , 0 0 0 $ 3 0 , 1 6 7 , 2 2 2 -8 . 3 % $ 2 9 , 2 2 7 , 2 2 2 -11.1% SR - 1 7 8 & M O R N I N G D R I V E 20 1 3 $ 3 3 , 8 9 0 , 0 0 0 $ 2 7 , 5 1 2 , 0 0 0 -1 8 . 8 % SR - 5 8 G A P C L O S U R E 20 1 3 $ 1 5 , 9 0 8 , 4 6 0 $ 1 4 , 9 5 7 , 0 0 6 -6 . 0 % Ri g h t  of  Wa y  Co s t  Es t i m a t i n g  17  Th e  Ca l t r a n s  Ri g h t  of  Wa y  ha s  sp e c i f i c  gu i d e l i n e s  fo r  estimating  ri g h t  of  wa y  co s t s  wh i c h  in c l u d e :  Ac q u i s i t i o n  of  pr o p e r t y  ne e d e d  fo r  th e  pr o j e c t  Re l o c a t i o n  As s i s t a n c e  to  th o s e  pa r t i e s  di s p l a c e d  by  th e  pr o j e c t  Cl e a r a n c e / D e m o l i t i o n  of  st r u c t u r e s  to  cl e a r  th e  ri g h t  of  way  Ut i l i t y  Re l o c a t i o n s  ca u s e d  by  th e  pr o j e c t  R/ W  Su p p o r t  se r v i c e s  (a p p r a i s a l s ,  R/ W  co n s u l t a n t s ,  ti t l e  & escrow)  Co n d e m n a t i o n / S e t t l e m e n t s  Th e s e  co s t  es t i m a t e s  ar e  ba s e d  on  cu r r e n t  ma r k e t  da t a  Th e n  a 20 ‐25 %  co n t i n g e n c y  is  ad d e d  to  pr o v i d e  fo r  ch a n g e s  in market  co n d i t i o n s  al o n g  wi t h  a 3%  pe r  ye a r  es c a l a t o r  to  ac c o u n t  fo r  project  de l a y s Pr o j e c t  Sc h e d u l e  Ju l y  20 1 3 18 No n ‐TI F I A TR I P  Pr o j e c t s Pr o j e c t  Sc h e d u l e  Ju l y  20 1 3 19 TI F I A TR I P  Pr o j e c t s In  Su m m a r y 20  Pr o c e s s  fo r  es t i m a t i n g  co n s t r u c t i o n  co s t s  hi s t o r i c a l l y  ar e  hi g h e r  than the  ac t u a l  bi d s .  Re m a i n i n g  TR I P  Pr o j e c t s  ar e  we l l  al o n g  in  pr o c e s s .  Th e  fu r t h e r  along, the  le s s  su b j e c t  to  ne g a t i v e  ch a n g e .    $1 . 3  Bi l l i o n  Pr o g r a m  go e s  in t o  th e  lo c a l  ec o n o m y .  As  mu c h  as  80  pe r c e n t    of  wo r k e r s  ha v e  be e n  lo c a l  re s i d e n t s  on projects  Th e  20 0 8  bo r r o w i n g  es t i m a t e  wh e n  Co u n c i l  ap p r o v e d  th e  TR I P  Program  ($ 2 4 6  Mi l l i o n )  is  re m a r k a b l y  ac c u r a t e  to  th e  $2 7 0  mi l l i o n  es t i m a t e d  today  Le v e r a g i n g  $8 2 0  mi l l i o n  in  fe d e r a l  & st a t e  fu n d s  no w  fo r  ou r  lo c a l  roads  sy s t e m  pr o v i d e s  ne e d e d  im p r o v e m e n t s  th a t  wo u l d  ot h e r w i s e  be more  co s t l y  if  de l a y e d .  TR I P  Pr o j e c t s  ca n  be  fu n d e d  wh i l e  ma i n t a i n i n g  ad e q u a t e  fu n d s  for other  lo c a l  ne e d s .    Co n t i n u e  to  se e k  al t e r n a t i v e  fu n d i n g  re s o u r c e s  an d  ap p l i c a t i o n s ;  TIGER V,  Ur b a n  Gr e e n i n g  Pr o j e c t s ,  et c . Qu e s t i o n s 21