Item Description:
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Neg Amd 1 to Agmt PR00005488 with Met Council and HC for Blue Line Extension Project, extend to 06/30/26, incr NTE to $248,905,000
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Resolution:
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BE IT RESOLVED, that the Hennepin County Regional Railroad Authority authorizes the Executive Director to negotiate Amendment One to Agreement PR00005488, Capital Grant Agreement for the METRO Blue Line Extension Light Rail Transit Project with the Metropolitan Council and Hennepin County, extending the grant activity period to June 30, 2026; increasing the Maximum Grant Amount by $173,600,000 for a new Maximum Grant Amount of $248,905,000, of which the Authority will contribute up to $50,661,000 (CP 1000941) and the County will contribute up to $198,244,000 (CP 1005877); and allowing the Project Decisions Board to authorize use of grant funds for project expenditures that cannot be paid with federal funds; and
BE IT FURTHER RESOLVED, that the Authority authorizes the Chair to execute Amendment One to Agreement PR00005488, after review and approval by the County Attorney's Office; and
BE IT FURTHER RESOLVED, that the Authority authorizes the Controller to transfer and disburse funds as necessary to carry out the intent of this Resolution.
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Background:
Since the inception of the METRO Blue Line Extension Light Rail Transit (LRT) Project (CP 1000941), HCRRA has disbursed approximately $54 million to the project through four separate agreements with the Metropolitan Council. The most recent agreement is PR00005488, Capital Grant Agreement for the Project, with the Metropolitan Council and Hennepin County. This Agreement established a maximum grant amount of $75,305,000, of which the HCRRA contributed up to $15,061,000 and the County contributed up to $60,244,000. The Agreement's end date is December 31, 2024.
To date, approximately $225 million has been obligated to the Project. This amount includes $75 million from the current Capital Grant Agreement PR00005488; $18.1 million pr...
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