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Locally Funded Agreement and Three-Party Escrow Agreement With Department of Transportation for Utility Work Design Portion of US 301 From Pasco County Line to State Road 50/Cortez Boulevard Project
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BRIEF OVERVIEW
On November 6, 2023, the Board approved a Utility Work by Highway Contractor Agreement (UWHCA) between Hernando County Utilities Department (HCUD) and the Florida Department of Transportation (FDOT) for the utility construction portion of US 301 from Pasco County Line to SR50/Cortez Boulevard project. FDOT now requires HCUD to participate in a Locally Funded Agreement and Three-Party Escrow Agreement (FPN 447536 3 32 01) to cover the utility design portion of the project, estimated at $146,007.00.
Board approval of the agreements, budget amendment, and the wire transfer of funds allows for the timely execution of the work required to design the utility portion of the project.
FINANCIAL IMPACT
Funds will be available in HCUD Renewal and Replacement accounts: Improv-Water Line Upgrade 4121-07201-5626302 in the amount of $99,285.00 and Improv-Wtr PLNT/Well/Stor 4121-07201-5626303 in the amount of $46,722.00 upon approval of the Budget Amendment attached.
LEGAL NOTE
The Board has the authority to act on this matter pursuant to Chapter 125, Florida Statutes.
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RECOMMENDATION
It is recommended that the Board approve and authorize the Chairperson’s signature on the attached Locally Funded Agreement and Three-Party Escrow Agreement, as well as approve the wire transfer of funds to FDOT in the amount of $146,007.00. It is further recommended that the Board approve and authorize the Chairperson’s signature on the attached associated budget amendment.