File #: 2021-0011   
Type: Motion / Motion Response Status: Passed
File created: 1/28/2021 In control: Board of Directors - Regular Board Meeting
On agenda: 1/28/2021 Final action: 1/28/2021
Title: APPROVE Motion by Directors Barger, Najarian, Krekorian, Kuehl, and Sandoval that the Board of Directors authorize the CEO to execute an agreement with Caltrans based on the recently negotiated term sheet for the advance of funding to cover the cost of a life of project budget increase for the I-5 North Project, and; WE FURTHER MOVE that the Board of Directors direct the CEO to: 1. Amend the proposed cost management policy and funding plan for this item, as appropriate, to ensure that there is a clear method of repayment of the funds that would be advanced by the I-5 North Project/San Fernando Valley Subregion in order to fulfill the proposed life of project budget increase for the I-5 North Project; 2. Ensure that the funds repaid to the I-5 North Project/San Fernando Valley Subregion carry a maximized flexibility of use; 3. Bring the amended life of project budget increase proposal and associated cost management policy to the San Fernando Valley Council of Governments for its con...
Sponsors: Board of Directors - Regular Board Meeting
Indexes: Ara Najarian, Budgeting, Burbank, I-5, I-5 North Corridor, Kathryn Barger, Motion / Motion Response, Paul Krekorian, Policy, Project, San Fernando Valley subregion, Shelia Kuehl, Southern California Highways, SR-1, SR-118, SR-134, Tim Sandoval
Related files: 2020-0724, 2021-0022

Meeting_Body

REGULAR BOARD MEETING

JANUARY 28, 2021

 

Preamble

 

 

Motion by:

 

DIRECTORS BARGER, NAJARIAN, KREKORIAN, KUEHL, AND SANDOVAL

 

Related to Item 35: 1-5 North Capacity Enhancements From SR-118 To SR-134; Segment 3

 

Subject

SUBJECT:  MOTION TO AMEND 1-5 NORTH CAPACITY ENHANCMENTS FROM SR-118 TO SR-134; SEGMENT 3

 

Heading

RECOMMENDATION

 

Title

APPROVE Motion by Directors Barger, Najarian, Krekorian, Kuehl, and Sandoval that the Board of Directors authorize the CEO to execute an agreement with Caltrans based on the recently negotiated term sheet for the advance of funding to cover the cost of a life of project budget increase for the I-5 North Project, and;

 

WE FURTHER MOVE that the Board of Directors direct the CEO to:

 

1.                     Amend the proposed cost management policy and funding plan for this item, as appropriate, to ensure that there is a clear method of repayment of the funds that would be advanced by the I-5 North Project/San Fernando Valley Subregion in order to fulfill the proposed life of project budget increase for the I-5 North Project;

 

2.                     Ensure that the funds repaid to the I-5 North Project/San Fernando Valley Subregion carry a maximized flexibility of use;

 

3.                     Bring the amended life of project budget increase proposal and associated cost management policy to the San Fernando Valley Council of Governments for its consideration and concurrence prior to Metro Board action on this item;

 

4.                     Begin coordinating with the Los Angeles County state legislative delegation to identify potential direct funding that could eventually offset the required local advance and corresponding Caltrans District 7 repayment;

 

5.                     Explore additional funding options that may offset the amount required to be advanced from the I-5 North Project/San Fernando Valley Subregion 3rd decade credits and corresponding Caltrans District 7 repayment;

 

6.                     Begin coordinating with Caltrans and the City of Burbank on their “unmet needs list” to properly inspect and confirm that damages are related to freeway construction activities and work together on project development to address these issues, as appropriate, and;

 

7.                     Return to the Board in February Metro Board cycle with an updated report and recommendation for a life of project budget increase based on the above directives, and include a corresponding action to ensure that the I-5 North Project contractor’s existing claim is funded.