PROJECT COST ESTIMATE AND FUNDING SOURCES Sample Clauses

PROJECT COST ESTIMATE AND FUNDING SOURCES. ‌ The CIG Project cost estimate is $1.724 billion in YOE dollars, including $180 million in financing costs. A full breakdown of the Project cost is provided in Standard Cost Category (SCC) worksheets provided to FTA by NJT. A higher- level breakdown of the sources and uses of funds is provided in Appendix B. The total cost of the Portal North Bridge Project is $1.888 billion, including financing costs and the intercity rail portion of the overall project. While joint intercity rail and public transportation projects are eligible for CIG funds, the law specifies that CIG funding may be used only on the capital cost attributable to public transportation based on projected use of the corridor. Thus, of the total project cost, $1.724 billion (91.3 percent) is attributable to public transportation and proposed to be funded with CIG funds. This percentage is higher than public transportation’s share of existing average weekday ridership in the peak hour in the peak direction in the corridor (i.e., 90 percent) because the public transportation component of the Project includes elements that are entirely public transportation costs (e.g., commuter rail cars). The remaining $164 million of the overall project cost is attributable entirely to intercity rail, and will be funded by Amtrak through various Federal sources. The public transportation portion of the overall project is referred to in this report as the CIG Project, to distinguish between the public transportation cost and the total project cost including the intercity rail portion. The CIG funding request of $767 million is the single largest funding source, covering 44.5 percent of the CIG Project cost, and 40.6 percent of the overall project cost. The CIG funds are assumed to be available to NJT as follows: $248 million in 2021; $125 million in 2022; $100 million per year, 2023-2025; and $94 million in 2026. The remaining Project funds ($957 million, 55.5 percent of CIG Project cost) are sourced as follows: • CMAQ funds, $57 million. The NJTPA TIP for fiscal years 2020-2023 includes $370 million in CMAQ funds for NJT railcar procurement. Of this total, $57 million is being used to acquire 25 railcars for the CIG Project. The CMAQ funds are an existing source that is considered committed because the total amount of funding is already included in an approved TIP/STIP. • Amtrak Contribution, $94 million. Amtrak and NJT executed a "Funding and Coordination Agreement" on December 27, 2018, whereby NJT agreed ...
Sample 1
AutoNDA by SimpleDocs

Related to PROJECT COST ESTIMATE AND FUNDING SOURCES

  • Construction Cost Estimate At 50% completion of the contract documents, the design team will present and submit copies of the project plans and manual. The Construction Administrator will prepare and issue the fourth of five construction cost estimates. The estimate shall be derived from actual takeoffs, subcontractor and vendor input, and material and labor cost data. All quantitative systems information shall be provided in detail.

  • Cost Estimate An estimate of the total project cost including but not limited to direct expenses, indirect expenses, land cost, and capital expenses.

  • Preliminary Cost Estimate Consulting Engineer/Architect shall furnish City an estimate of probable Construction Cost based on the preliminary design. Consulting Engineer/Architect's estimate of probable Construction Cost is to be made on the basis of Consulting Engineer/Architect's experience and qualifications and represent Consulting Engineer/Architect's best judgment as an experienced and qualified design professional, familiar with the construction industry.

  • Preliminary Cost Estimates The Engineer shall develop a preliminary cost estimate using the Average Low Bid Unit Price. The Engineer shall estimate the total project cost including preliminary engineering, final engineering, right-of-way (ROW) acquisition, environmental compliance and mitigation, construction, utility relocation, and construction engineering inspection (CEI).

  • Cost Estimates If this Agreement pertains to the design of a public works project, CONSULTANT shall submit estimates of probable construction costs at each phase of design submittal. If the total estimated construction cost at any submittal exceeds ten percent (10%) of CITY’s stated construction budget, CONSULTANT shall make recommendations to CITY for aligning the PROJECT design with the budget, incorporate CITY approved recommendations, and revise the design to meet the Project budget, at no additional cost to CITY.

  • Project Cost Overruns In the event that the Recipient determines that the moneys granted pursuant to Section II hereof, together with the Local Subdivision Contribution, are insufficient to pay in full the costs of the Project, the Recipient may make a request for supplemental assistance to its District Committee. The Recipient must demonstrate that such funding is necessary for the completion of the Project and the cost overrun was the result of circumstances beyond the Recipient's control, that it could not have been avoided with the exercise of due care, and that such circumstances could not have been anticipated at the time of the Recipient's initial application. Should the District Committee approve such request the action shall be recorded in the District Committee's official meeting minutes and provided to the OPWC Director for the execution of an amendment to this Agreement.

  • Project Costs Simultaneously with the execution of this Agreement, the Company shall disclose to the Department all of the Project Costs which the Company seeks to include for purposes of determining the limitation of the amount of the Credit pursuant to Section 5-30 of the Act and provide to the Department a Schedule of Project Costs in the form as attached hereto as Exhibit C.

  • Cost Estimating The Model may be used to develop cost estimates based on the approximate data provided and conceptual estimating techniques (e.g., volume and quantity of elements or type of system selected).

  • Project Cost a. The estimated cost of the Project is $ 97,740.00. This amount is based upon the Schedule of Financial Assistance in Exhibit "B", attached to and incorporated in this Agreement. Exhibit “B” may be modified by mutual execution of an amendment as provided for in paragraph 5.i.

  • Construction Cost Budget The total cost to District of all elements of the Project designed or specified by the Architect, as adjusted during and at the end of the design phase in accordance with this Agreement and the Agreement for Architectural Services. The Construction Cost Budget does not include the compensation of the Project Design Team, the Program Manager (if any), the Construction Manager and any subconsultants, the cost of the land, rights-of-way, or financing which are the responsibility of the District.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!