Funding Contribution from INDOT. INDOT agrees to provide the 50% of the estimated Project costs as enumerated below in federal-aid highway funds and/or state funds to complete the Project. Nothing in this Agreement shall be deemed to restrict INDOT’s ability to manage available funding sources in providing funds for the Project.
Funding Contribution from INDOT. INDOT agrees to provide all funds necessary to cover the costs of the Interchange Project. The Parties anticipate that INDOT will contribute federal-aid highway funds in the approximate amount of $30,000,000.00 to complete both the SR 267 Project and Interchange Project, and that INDOT will provide an additional $10,000,000.00 to cover costs of the Project that would be reimbursed by the Town as provided herein. Nothing in this Agreement shall be deemed to restrict INDOT’s ability to manage available funding sources in providing funds for either the SR 267 Project or Interchange Project. INDOT shall be entitled to reimbursement from the Town for up to $10,000,000.00 as described in Section 1.4A above.
Funding Contribution from INDOT. INDOT shall be solely responsible for the costs of the Intersection improvement in an amount not to exceed $1,500,000.00.
Funding Contribution from INDOT. INDOT agrees to provide additional federal-aid highway funds for the Project in an amount up to but not to exceed $100,000,000.00 (the “INDOT Contribution”). Nothing in this Agreement shall be deemed to restrict INDOT’s ability to manage available funding sources in providing funds for the Project. INDOT take all reasonable actions within its statutory power to allocate funds sufficient to provide the INDOT Contribution to the Project and meet INDOT’s other obligations under this Agreement. In the event that the bid price of the Project is less than expected and does not require the entire amount of INDOT’s Contribution, the Local Parties may use any remaining funds from the INDOT Contribution to construct additional phases of the Project north of 146th Street on S.R. 37 (the “Additional Projects”, as defined in Exhibit B, Section H). The balance of funds shall not be available to the Local Parties for use on other projects (any project not directly improving S.R. 37 in Xxxxxxxx County). INDOT shall retain the balance of any INDOT Contribution funds not used on the Project or the Additional Projects.
Funding Contribution from INDOT. INDOT agrees to contribute toward the costs of the Project in an amount not to exceed $200,000.00 in state highway funds. INDOT shall make a one-time lump sum payment in the amount of $200,000.00 to the CITY for the preliminary engineering, construction and inspection costs upon execution and approval by the Office of the Indiana Attorney General of this Agreement. The CITY shall invoice INDOT for INDOT’s Contribution following receipt of the fully executed Agreement. INDOT shall remit payment to the CITY thirty-five (35) days following receipt of the CITY’s invoice.
Funding Contribution from INDOT. INDOT shall pay the costs of the Project to the CITY within thirty-five (35) days of receipt of the invoices from the CITY for work completed in accordance with Section 2.16.
Funding Contribution from INDOT. INDOT agrees to contribute toward the costs of the Project in an amount up to and including $1,410,638.87. INDOT shall be responsible for any and all change orders, except for those costs for enhancements requested by the CITY not within the original Project scope. Nothing in this Agreement shall be deemed to restrict INDOT’s ability to manage available funding sources in providing funds for the Project.
Funding Contribution from INDOT. INDOT agrees to contribute federal-aid highway funds to cover all additional of costs (excluding the Town’s Cash Contribution and costs of right of way acquisition) of the Interchange Project. Nothing in this Agreement shall be deemed to restrict INDOT’s ability to manage available funding sources in providing funds for the Interchange Project.
