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Budget Based on previous similar projects, staff is requesting a 15% project contingency in the amount of $59,914 to fund unforeseen change orders. Typical pavement change orders relate to isolated soil conditions that require removal and replacement. Unsuitable soils are not known until such time as the pavement is removed during local base repair and the soil condition is exposed in the field, requiring either remedial treatment or removal. As a result of this contingency, as well as required testing services and the separate purchase of traffic video detection equipment, the projected total project budget is $481,020. Since the ARRA program funds projects on a reimbursement basis, the City will initially need to use local funding to meet the cash flow needs of the project. Staff is proposing to use funds remaining in the completed Annual Resurfacing of Various City Streets project, CIP No. 095003 (presented for acceptance concurrently with the award of this project). At the time the Annual Resurfacing contract was awarded, the City was aware that the State might delay or reduce some street funding; therefore, the construction budget was limited to cash on hand ($1,801,008) rather than using the originally budgeted amount of $2,250,000. The balance remaining in the approved construction budget for the Annual Resurfacing project is $115,439. The Annual Curb and Gutter project, CIP No. 085009, is being accepted concurrently with the award of this pavement rehabilitation project. Staff is recommending the transfer of that project balance ($40,578) to the resurfacing project, CIP No. 095003, since a portion of the funding for the curb and gutter project was provided by the former resurfacing project. Additional funds are currently available from gas tax monies the City has received from the State in the amount of $267,863, representing July, August and September 2009 revenues. All totaled, the balance of these available funds is $423,880. The City of Pleasanton expects to receive another five months' worth of gas tax payments in April, as well as nine months' worth of delayed Proposition 42 funding in April and May 2010. Those funds would be used to complete the funding of the originally budgeted resurfacing project. Funds are, therefore, expected to be received for CIP No. 095003 before the final $57,140 is necessary for this pavement rehabilitation project. Additionally, partial reimbursement requests may be submitted for ARRA funds in order to assist with cash flow if necessary. Once ARRA funding has been received, staff will reimburse the Annual Resurfacing project. Submitted by: Fiscal Review: Appro ed by: cod Brian Dolan David P. Culver Nelson Fialho Director of Director of Finance City Manager Community Development Attachments: 1. Bid summary 2. Funding and Estimated Expenditures Summary 3. Draft construction contract Page 3 of 3