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WHEREAS, the initial dollar value of the grant match was based on the conceptual-level <br /> project estimate included in the grant application which was calculated to be$198,063 of the total <br /> $782,563 project cost estimate as specified in the Grant application; and <br /> WHEREAS, after bidding the Jetty Landing Restroom Capital Project,the actual Project <br /> cost increased to $1,140,000.00 and that amount exceeded the Parties' respective basic financial <br /> commitments plus contingency. As a result, the First Interlocal Agreement automatically <br /> terminated according to its terms; and <br /> WHEREAS, The Parties believe it is in the best interest of the public, their respective <br /> constituents and public recreation to continue with the Jetty Landing Restroom project. As a result, <br /> they have agreed to cover the Project construction cost increase in allocated shares as set forth in <br /> this Interlocal Agreement. The total grant match by the Port,the County and the City has increased <br /> to $555,500; and <br /> WHEREAS, pursuant to the powers accorded to the Port, the County, and the City <br /> pursuant to Chapter 39.34 RCW, the Parties possess the authority and also have the desire to <br /> execute an intergovernmental cooperation agreement for this purpose: <br /> NOW, THEREFORE, in consideration of the mutual benefits of this Successor <br /> Interlocal Agreement,the Parties agree as follows: <br /> SECTION 3.TERMS AND CONDITIONS <br /> 3.1 Subject to the provisions of this Interlocal Agreement, the Port, the County, and the City <br /> each, respectively, hereby authorize this Interlocal Agreement and commit their own agency to <br /> pay an allocation of the costs and expenses for the Jetty Landing Restroom Capital Project (the <br /> "Project") as set forth herein. The City shall pay a fixed amount of$118.191.00 as its share and <br /> the County shall pay a fixed amount of$170,191.00 as its share, both of which shall be paid after <br /> Project completion within thirty(30)days after receiving an invoice from the Port,supported by a <br /> complete accounting of Project expenses. As the Port's allocation, the Port shall pay all costs of <br /> the Project including, without limitation, all costs arising from change orders and contractor <br /> claims, that exceed $872,691.00 ($584,500.00 grant amount + $118,191.00 (City amount) + <br /> $170,191.00(County amount). <br /> 3.1.1 The Port will execute the Project as set forth in this Interlocal Agreement and in <br /> accordance with all applicable laws, with the City and County each reimbursing the Port <br /> their shares for Project expenses, net of Grant reimbursements, so that the Port, City, and <br /> County each share Project expenses in accordance with this Interlocal Agreement. <br /> 3.1.2 Any work product generated from and paid for with funds allocated for this Project <br /> will become the property of the Parties in their most native and/or useable form. <br /> 3.2 The Port will execute the Project on a schedule required by the Grant. <br /> 2 <br /> B NC\0322110065101021319.v 1 <br />