Loading...
Item C08' CM ounty of onroe BOARD OF COUNTY COMMISSIONERS  Mayor Heather Carruthers, District 3 Mayor Pro Tem George Neugent, District 2 TheFloridaKeys Danny L. Kolhage, District 1 David Rice, District 4 Sylvia J. Murphy, District 5 County Commission Meeting July 20, 2016 Agenda Item Number: C.8  Agenda Item Summary #1795 BULK ITEM: DEPARTMENT: Yes Engineering / Roads TIME APPROXIMATE:STAFF CONTACT: Debra London (305) 453-8754 N/A AGENDA ITEM WORDING: Approval of Amendment 1 to the contract with Metric Engineering Inc for Engineering Design and Permitting Services for the Pigeon Key Ramp Restoration Project to transfer funds from the Foundation Investigation task to the Geotechnical task for a lead survey, with no change to the original total contract amount. ITEM BACKGROUND: Monroe County contracted with Metric Engineering, Inc for Engineering Design and Permitting Services for the Pigeon Key Ramp Restoration Project. A lead survey is required for the project which was not included in the original contract. Since a balance remains unused in the Foundation Investigation task, $2,300.00 will be transferred from the Foundation Investigation task to the Geotechnical task to fund the lead survey. The total contract amount remains the same at $205,959.71. The project is funded by a Florida Department of Transportation Local Agency Program (LAP) agreement through the Transportation Alternatives Program (TAP). PREVIOUS RELEVANT BOCC ACTION: June 2014 - The BOCC approved the local ranking committee results of the 2014 TAP cycle applications which included the Pigeon Key Ramp project. October 2014 - The BOCC approved the Local Agency Program (LAP) agreement with FDOT in the amount of $100,000. February 2015 - the BOCC approved contract negotiations with Metric Engineering, Inc., for the Engineering Design and Permitting Services for the Pigeon Key Ramp Project. April 2015 - the BOCC approved a contract with Metric Engineering, Inc., for the Engineering Design and Permitting Services for the Pigeon Key Ramp Project. April 2015 - the BOCC approved a Supplemental LAP agreement to increase grant funds for the project by $86,447.71 due to FDOT required design modifications. CONTRACT/AGREEMENT CHANGES: Increase Geotechnical task $2,300.00; decrease Foundation Investigation Task $2,300.00 4EGOIX4K ' STAFF RECOMMENDATION: Approval of Amendment 1 to Metric Engineering, Inc contract for Engineering Design and Permitting Services for the Pigeon Key Ramp Restoration Project. DOCUMENTATION: Metric 1st Amendment Lead Survey Contract - Metric - EXEC - 4-15-2015 FINANCIAL IMPACT: Effective Date: July 20, 2016 Expiration Date: 30 days after construction completion Total Dollar Value of Contract: Total Cost to County: Current Year Portion: Budgeted: Source of Funds: CPI: Indirect Costs: Estimated Ongoing Costs Not Included in above dollar amounts: Revenue Producing: If yes, amount: Grant: County Match : Insurance Required: Additional Details: No change to $ contract amount. REVIEWED BY: Judith Clarke Completed 06/21/2016 2:17 PM Christine Limbert Completed 06/21/2016 2:20 PM Budget and Finance Completed 06/21/2016 2:27 PM Maria Slavik Completed 06/21/2016 2:35 PM Kathy Peters Completed 06/21/2016 3:24 PM Board of County Commissioners Pending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ttachment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z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