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Type:
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Budget
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Status:
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Passed
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On agenda:
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10/23/2024
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Final action:
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10/31/2024
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Title:
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AUTHORIZE the Chief Executive Officer to:
A. ESTABLISH the I-105 ExpressLanes Project 475004 Life-of-Project (LOP) Budget by increasing the existing Preconstruction Budget and by establishing funding for the Segment 1 (Identified Work Package 1) construction, from Sepulveda Blvd. to Central Avenue on the I-105 Freeway. This action increases the existing Preconstruction Budget of $119,391,538 by $638,148,678 to a Life-of-Project Budget of $757,540,216 (Attachment A);
B. NEGOTIATE AND EXECUTE project-related agreements, including contract modifications, up to the authorized LOP;
C. ESTABLISH an LOP budget of $44,254,826 for the I-105 Express Lanes project segments 1, 2, and 3 Roadside Toll Collection System (RTCS) Project 275004; and
D. AMEND FY25 budget for Project 475004 by $47,234,197 from $126,112,511 to $173,346,708 and for Project 275004 by $3,824,193 from $2,129,990 to $5,954,183.
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Indexes:
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Bids, Board approved Contract, Budget, Budgeting, Construction, Contractors, Contracts, Debt, Environmental Impact Report, Express lanes, Federal Highway Administration, Gateway Cities subregion, Grant Aid, I-105, I-105 Expresslanes Development (Project), I-105 ExpressLanes Project, I-110, I-405, I-710, Inglewood, Low-Income Fare is Easy (LIFE), Maps, Measure M, Metro Vision 2028 Plan, Norwalk, Outreach, Procurement, Project, South Bay Service Sector, Southern California Highways, Surveys, Toll collection, Tolls, Transportation Infrastructure Finance and Innovation Act of 1998, Watts, Willowbrook
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Meeting_Body CONSTRUCTION COMMITTEE OCTOBER 23, 2024 Subject SUBJECT: I-105 EXPRESSLANES CONSTRUCTION MANAGER/GENERAL CONTRACTOR SEGMENT 1 (IDENTIFIED WORKS PACKAGE 1) LIFE- OF-PROJECT BUDGET AND ROADSIDE TOLL COLLECTION SYSTEM LIFE-OF-PROJECT BUDGET Action ACTION: APPROVE RECOMMENDATION Heading RECOMMENDATION Title AUTHORIZE the Chief Executive Officer to: A. ESTABLISH the I-105 ExpressLanes Project 475004 Life-of-Project (LOP) Budget by increasing the existing Preconstruction Budget and by establishing funding for the Segment 1 (Identified Work Package 1) construction, from Sepulveda Blvd. to Central Avenue on the I-105 Freeway. This action increases the existing Preconstruction Budget of $119,391,538 by $638,148,678 to a Life-of-Project Budget of $757,540,216 (Attachment A); B. NEGOTIATE AND EXECUTE project-related agreements, including contract modifications, up to the authorized LOP; C. ESTABLISH an LOP budget of $44,254,826 for the I-105 Express Lanes project segments 1, 2, and 3 Roadside Toll Collection System (RTCS) Project 275004; and D. AMEND FY25 budget for Project 475004 by $47,234,197 from $126,112,511 to $173,346,708 and for Project 275004 by $3,824,193 from $2,129,990 to $5,954,183. Issue ISSUE The I-105 Express Lanes project (Project) has been advanced using the Construction Manager/General Contractor (CM/GC) delivery method. Leveraging this delivery method, Metro staff worked with the general contractor and Caltrans, benefiting from contractor design input to advance a number of value engineering opportunities. The general contractor then provided a bid to construct the project, which in this case is IWP 1. Staff has concluded negotiations with the CM/GC contractor on IWP 1 and is now seeking Board approval to increase funding which will enable advancement of IWP 1. Awarding IWP 1 is necessary to comply with the Project's state grant funding requirements, secure toll-backed financing, and ensure that construction progresses ... Click here for full text
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