Title
CIP Amendment for R-334, Interchange at I-235 and US-54. District 2.
Body
Recommended Action: Approve the amendment to the 2016 CIP.
In 2012, Sedgwick County, the City of Wichita and the Kansas Department of Transportation entered into an agreement to finance and construct interchange improvements at I-235 and US-54. In order to maximize the County’s use of federal funds, the agreement provided for the use of County allocated federal funds directly to the project which results in saving the 10% discount rate that KDOT applies to the exchange of state funds for federal funds. The agreement calls for payments by Sedgwick County totaling $11,600,000 ($4,000,000 in 2016; $4,000,000 in 2017; $3,600,000 in 2018).
Several factors have necessitated an amendment to the CIP in order to change the type and amount of funding. They are:
1. Implementation of the MAP-21 federal transportation act by KDOT has resulted in an overall decrease in the allocation of federal funding to Sedgwick County. MAP-21 has been replaced by FAST-Act but the KDOT (statutory) allocation formula remains the same as in MAP-21.
2. The loss of some federal funds now necessitates an increase in the local funding. The amendment identifies other local fund sources (savings in other projects) to make up the difference.
3. KDOT has used other federal funds for the project and has informed the County that they are counting on the use of non-federal funds from the County to match their other federal funds.
4. KDOT has agreed to allow the County to exchange federal funds for state funds at the rate of 100% rather than the standard 90% in order to make the County whole under the new financial arrangements.
5. The County has a balance of 2015 federal exchange funds (90% rate) that can be applied to the project.
6. There is a slight decrease in overall cost due to the change ...
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