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a. Approve the Advance/Refund Agreement between the County of Monterey and the Monterey County Water Resources Agency for the Pajaro River Bench Excavation Project Phase I authorizing an amount not to exceed $1,550,000 from Capital Projects Fund 404; and
b. Authorize the County Administrative Officer to execute the Advance/Refund Agreement between the County of Monterey and the Monterey County Water Resources Agency for the Pajaro River Bench Excavation Project Phase I.
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RECOMMENDATIONS:
It is recommended that the Board of Supervisors:
a. Approve the Advance/Refund Agreement between the County of Monterey and the Monterey County Water Resources Agency for the Pajaro River Bench Excavation Project Phase I authorizing an amount not to exceed $1,550,000 from Capital Projects Fund 404; and
b. Authorize the County Administrative Officer to execute the Advance/Refund Agreement between the County of Monterey and the Monterey County Water Resources Agency for the Pajaro River Bench Excavation Project Phase I.
SUMMARY/DISCUSSION:
The Monterey County Water Resources Agency (Agency) is undertaking a two-phased project, entitled the Pajaro River Bench Excavation Project (Project), partnering with the Santa Cruz Flood Control District, hereinafter referred to as "District" to excavate and remove 336,000 cubic yards of material from eleven locations along 7.5 miles of the levee benches of the Pajaro River between Highway 1 and Murphy Road Crossing, in excavation sites spanning 39.1 acres within Santa Cruz and Monterey Counties.
Phase I of the Project is scheduled for accomplishment in calendar year 2012 and consists of excavation of approximately 145,000 cubic yards of excess sediment from select locations (Sites 1R through 4R) along the upper terrace benches inside the Pajaro River levees in order to improve the flood carrying capacity of the levee system, at an estimated cost of $3.1 million.
The County of Monterey (County) agrees to assist the Agency in providing cash flow for the project by advancing funds up to $1,550,000 to the Agency, as set forth in the attached Advance/Refund Agreement, utilizing available fund balance in the Capital Projects Fund, Fund 404, Unit 8174, Appropriation Unit RMA015.
OTHER AGENCY INVOLVEMENT:
Monterey County Water Resources Agency has requested cash flow assistance from the County. The Office of County Counsel has reviewed and approved the Advance/Refund Agreement as to form. The Auditor-Controller has reviewed the Advance/Refund Agreement as fiscal terms.
FINANCING:
There is no impact on the General Fund. The advancement of funds not to exceed $1,550,000 is provided by the County Capital Projects Fund, Fund 404, Unit 8174, Appropriation Unit RMA015 utilizing available fund balance. As the project schedule for Phase I is anticipated to be complete by the end of October 2012, there is no anticipated impact to the on-going projects currently being funded out of the Capital Projects Fund, Fund 404. A separate program will be established within Fund 404 to monitor expenditures incurred in support of this project. Per the Agreement, full reimbursement of advanced funds will be provided to Capital Projects Fund 404 by no later than June 30, 2013. Resource Management Agency will be returning to the Board during the first quarter of FY 2012-13 to recommend amending budget for Fund 404 to incorporate this project, as well as incorporate other changes that may be required.
Prepared by: Shawne Ellerbee, Finance Manager III, (831) 755-4794
Approved by:
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Paul H. Greenway, P.E., Acting Director of Public Works
Approved by:
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Benny J. Young, RMA Director
Dated: June 13, 2012
Attachment: Advance/Refund Agreement