Loading...
The URL can be used to link to this page
Your browser does not support the video tag.
Home
My WebLink
About
Ordinance 120-14
RECORD OF ORDINANCES Dayton Legal Blank Inc. Ordinance No. Passed F No. 30043 2© AN ORDINANCE AUTHORIZING THE CITY MANAGER TO ENTER INTO AN AGREEMENT WITH THE OHIO DEPARTMENT OF TRANSPORTATION (ODOT) TO FINANCE THE I- 270 /US 33 INTERCHANGE IMPROVEMENT PRO]ECT THROUGH THE STATE INFRASTRUCTURE BANK PROGRAM, AND DECLARING AN EMERGENCY. WHEREAS, the City's 2015 — 2019 Capital Improvements Program has programmed the construction of the I- 270 /US 33 interchange improvement project to be initiated in 2015; and WHEREAS, it is necessary to obtain financing for the construction of the project; and WHEREAS, in 1995, Ohio became one of eight states allowed to implement a State Infrastructure Bank (SIB) program; and WHEREAS, the SIB allows the State of Ohio to provide low interest loans to finance infrastructure projects approved by ODOT; and WHEREAS, the City has received preliminary approval from ODOT for participation in the SIB program for the I- 270 /US 33 Interchange improvement project; and WHEREAS, it is necessary for the City to enter into an agreement with ODOT acknowledging the preliminary terms and conditions for participation in the SIB program. NOW THEREFORE, BE IT ORDAINED by the Council of the City of Dublin, State of Ohio, of the elected members concurring, that: Section 1. The City Manager is hereby authorized to enter into the attached agreement with the Ohio Department of Transportation to finance the I- 270 /US 33 interchange improvement project through the State Infrastructure Bank program. Section 2. The public hearing be waived in order for the agreement to be executed immediately. Section 3. This Ordinance is declared to be an emergency measure necessary for the public peace, health, safety and welfare of this City and for the further reason to allow the final term sheet to be prepared and the project financing to be in place prior to awarding the construction contract for the project. This ordinance shall therefore be effective upon passage. Passed this '7`'L day of , /� ty- ' 2014. GtiMayor - Presiding Officer Attest: 120 -14 Clerk of Council Office of the City Manager 5200 Emerald Parkway • Dublin, OH 43017 -1090 City of Dublin Phone: 614 - 410 -4400 • Fax: 614 - 410 -4490 To: Members of Dublin City Council From: Marsha I. Grigsby, City ManagerXV\%.1- Date: December 4, 2014 Initiated By: Angel L. Mumma, Director of Finance Memo Re: Ordinance No. 120 -14 - An Ordinance Authorizing the City Manager to Execute an Agreement with the Ohio Department of Transportation to Provide the Financing for the I- 270 /US 33 Interchange Improvement Project Background In 1995, Ohio was one of eight states selected for designation under the State Infrastructure Bank (SIB) pilot program authorized by the 1995 National Highway System Bill. The purpose of the SIB program is to encourage economic development and public investment in public transportation facilities that contribute to the multi -modal and intermodal transportation capabilities of the state, develop a variety of financing techniques to expand the availability of funding resources, reduce direct state costs, maximize local participation in financing projects and improve the efficiency of the state transportation system by using and developing the advantages of each transportation mode to the fullest extent. As the administrator of the SIB, the objective of the Ohio Department of Transportation (ODOT) is to maximize the use of Federal and State funds in order to make direct loans to eligible projects. Repayments from these loans are made to ODOT and then re- loaned to subsequent projects, thus creating a SIB revolving loan program. The SIB revolving loan program enhances the number of transportation projects that can be completed within the State that otherwise would not have been considered. The City participated in the SIB program beginning in 1999 for the financing of the Avery- Muirfield Drive /US 33 interchange improvement program. Current Project - I270 /US 33 Interchange Improvement Project As Council is aware, construction of the Phase 1 improvements to the I- 270 /US 33 interchange are slated to begin in early 2015. The cost of construction of this phase is estimated to be $73 million with $40 million being paid by ODOT, $25 million by MORK, and $8 million by the City. In addition, the City is responsible for the costs of the project features ODOT determines to be above and beyond that which is necessary for the construction of the interchange transportation infrastructure. Such features include the landscaping and art details described in a memo dated August 7, 2014 - I- 270 1US 33 Interchange Project Update (see Exhibit A). It is anticipated that the additional aesthetic costs that the City will be responsible for will total approximately $2 million, bringing the City's total contribution to the construction to $10 million. In working with MORK, the City agreed to fund initially the $25 million MORK portion as well as the $10 million City portion, for a total of $35 million. MORPC's $25 million would be secured by the City through a SIB loan with repayment of the loan coming from MORPC's annual federal Memo re. Ord. 120 -14 December 4, 2014 Page 2 of 2 allocation, which is administered by ODOT. Additionally, the City agreed that costs in excess of the $25 million principal amount (i.e. interest and loan fees) would be the responsibility of the City. (MORPC Resolution T -10 -13 is attached for reference.) The City's portion of the construction costs could be financed in any manner deemed most financially appropriate. Staff has evaluated utilizing the SIB loan versus traditional financing methods and has determined that utilization of the SIB will result in savings of approximately $446,600 versus issuing tradition general obligation debt. The term of the loan is 20 years with no interest assessed on the loan for the first 12 months. From the 13"' month through final maturity, the interest rate will be 3.0 %. In order to utilize the SIB, there is a $10,000 fee, which is incorporated in the loan amount. Based on an anticipated project sale date of February 2015, the City would anticipate the first payment to be made in August 2016. Funding to repay this debt was incorporated in the 2015 — 2019 Capital Improvements Program. The source of repayment will come from services payments from the Ruscilli, Pizzuti, and Upper Metro Tax Increment Financing districts with income tax revenues available as backup funding if necessary. Ordinance 120 -14 authorizes the City Manager to sign the preliminary project term sheet related to the I- 270 /US 33 interchange improvement. Additional legislation will be required once the final loan documents are prepared by ODOT's bond counsel Recommendation Staff recommends that Council dispense with the second reading /public hearing and approve Ordinance 120 -14 by emergency action at the December 8, 2014 meeting in order to expedite the preparation of the final term sheet and loan documents. Office of the City Manager 5200 Emerald Parkway • Dublin, OH 43017 -1090 City of Dublin Phone: 614-410 -4400 • Fax: 614 - 410 -4490 Memo To: Members of Dublin City Council From: Marsha I. Grigsby, City Manager Date: August 7, 2014 Initiated By: Angel Mumma, Director of Finance Megan O'Callaghan, Director of Public Service Re: I- 270 /U.S. 33 Interchange Project Update Background The Ohio Department of Transportation (ODOT) is leading the design and construction of the I- 270/U.S. 33 Interchange project. CH2M Hill is the design consultant for the project. The transportation improvements will be constructed in two phases. Phase 1: The first construction phase is shown on the following page in Figure 1 and includes the following improvements: • The loop ramps in the northwest and southeast quadrants will be eliminated. The new ramps replacing these movements will pass over I -270 south of US 33, and pass under US 33 east of I -270. New bridges will be installed at these locations. • The southbound I -270 to westbound US 33 movement will be split into two ramps, one for drivers existing onto Avery- Muirfield Drive and one for drivers continuing west on US 33 beyond Avery- Muirfield Drive • US 33 will be widened to four lanes in each direction between Avery- Muirfield Drive and I- 270. • A traffic signal will be introduced for northbound I -270 to eastbound US 33. The signal will assign right of way between this movement and the eastbound US 33 through movement. The first phase of construction is scheduled to begin in early 2015. The cost of construction of Phase I is estimated to be $73 million with $25 million being paid by MORPC, $8 million by the City of Dublin, and $40 million from ODOT. The City will be responsible for initially funding the $25 million MORK portion as well as the $8 million City portion in late 2014 /early 2015. The $25 million will be secured by the City through a State Infrastructure Bank (SIB) loan with repayment of the loan coming from MORPC. Staff are evaluating options for securing the $8 million City portion, considering both SIB program as well as the traditional bond market to see which is more cost effective. The City will utilize TIF revenues to repay the $8 million debt issued for the construction. Interchange Project Update August 7, 2014 Page 2 of 3 4 k Figure 1. I -270 & US 33 Interchange Improvements - Phase 1 Phase 2. The second phase of construction will include the following improvement: • The loop ramp in the northeast quadrant will be eliminated. The new ramp replacing this movement will pass over US 33 and I -270. This will be a significant new bridge. The construction of phase two is expected to occur in 10 to 15 years. Dublin staff has been working closely with ODOT to finalize the construction plans in preparation for the bidding of this project. Aesthetics Creative Design Resolutions ("CDR'), the artist firm for the project, recently submitted final construction plans. These plans depict a Scioto River scene for the retaining walls with Celtic knotwork appearing on the bridge piers and bridge parapets and reflect feedback from Dublin and the selection committee. In late February, City Council indicated its desire to include text identifying "Dublin" on the bridge parapets. Accordingly, CDR designed such text and "Dublin" is now included on the bridge parapets in the plans. Detailed drawings of the art are attached to this memo. CT Consultants /EDGE Group has also finalized the landscape plans for the project. The landscape design includes a series of grids consisting of various grasses that provide a contrast of color and texture outlined by a horizontal hardscape. Detailed drawings of the landscaping are also attached to this memo. Staff has been coordinating with ODOT to incorporate the art and landscaping plans into ODOT's complete interchange construction plans. Aesthetics Funding Dublin is responsible for the costs of the project features ODOT determines to be above and beyond that which is necessary for the construction of the interchange transportation Interchange Project Update August 7, 2014 Page 3 of 3 infrastructure. In case at hand, such features include the landscaping and art details described above. Staff has been negotiating the specific items of work associated with these aesthetic features with ODOT. Further, staff has been working with ODOT to draft a Cooperative Funding Agreement to memorialize the funding scenario and commitments of Dublin and ODOT as it relates to the interchange improvements. It is anticipated that the additional aesthetic costs that the City will be responsible for will total approximately $1.9 million. We do not expect any additional cost for the artwork component. The City previously entered into a professional services agreement with CH2M Hill for the landscape and artwork design for the Interchange, with the City selecting sub - consultants that CH2M Hill hired to perform certain functions. The total of that contract was $536,585 with funding attributable to the artwork (estimated at $331,170) being paid for by Hotel /Motel Tax Fund revenue. The balance of the contract has been or will be paid for from the Upper Metro TIF. Schedule ODOT distributed the final draft of the construction plans for review and comment on June 4, 2014 with comments due on July 8. Dublin staff performed a comprehensive review of the draft plans and provided extensive comments to ODOT on July 8. ODOT is in the process of addressing the comments. ODOT plans on bidding a tree removal contract on October 30, 2014 with activities expected to begin in December of 2014. The scope of this tree removal contract is to clear 3" diameter and above trees and other necessary clearing and grubbing of trees, shrubs, and brush within the project limits prior to the start of Phase 1 of the interchange improvements. Phase 1 of the interchange improvements is scheduled to bid on January 22, 2015 with construction activities expected to begin toward the end of February of 2015. Phase 1 will significantly improve the safety and operations of the interchange, removing the critical weave areas. Next Steps ODOT requires local public agencies to provide what it refers to as "Preliminary Legislation" indicating in general terms the governing body agrees to participate in the project prior to bidding a project. Staff will present City Council with a Resolution authorizing the City Manager to enter into a Cooperative Funding Agreement with ODOT at the August 25, 2014 Council Meeting. ODOT will also require what it refers to as "Final Legislation" and construction funding in late December or early January prior to the Phase 1 bid opening. Recommendation Information only. BRIDGE REAR ABUTMENT � PATTERN KEY ELEVATION: FRA -033 -271 L (WEST BOUND) -I STiVE: mc- ro• r r I I r I I � I � I L� H � -'� Y M ao R A c e c n o r e c c n o I n i r IW n O - g oL I BRIDGE FORWARD ABUTMENT 2 PATTERN KEY ELEVATION: FRA-033 -271 L T BOUND) p I scA1E: IlIC- I' r ' I� ° a BRIDGE REAR ABUTMENT � PATTERN KEY ELEVATION: FRA -033 -271 L (WEST BOUND) -I STiVE: mc- ro• r r I I r I I � I � I IV OP�PROI Mr .TOLL 9QSIIIeL111HL D1UY fal R1AIQ'rJlMf — ..' +�- _ L 1 " � ��� y-.•J � -�`. -- BRIDGE REAR ABUTMENT r3] ELEVATION: FRA-033 -271 L (WEST BOUND) -1 SCALE: IA7 - ra ffl — �17 W ------------ __ - . __.._... _..-_____.__. fOK1QlRrWIRG. M. El ,RRIl IItlI R.AUCt V � _ _ _ �iwuinna. _--- - -- -- --- --- --- -- --- --- --- -- ---- -- - - - ________ ___ __ _______ ----------- _ _ T ------------- - --------------------- _____ __ ------ - -------- - - - -- -------- --- ---------- -- ------- — raa•erumt (ORO¢RMWAf., M. wuTararev rRllm QIQ M. BRIDGE FORWARD ABUTMENT r41 ELEVATION: FRA -033 -27 I L (WE5T BOUND) -I BOVE: IA'P -1'd r¢aeesa Y/UIRIGIYW MmaVL[.M H � -'� Y M ao R A c e c n o r e c c n o I n i r IW n O - g oL I BRIDGE FORWARD ABUTMENT 2 PATTERN KEY ELEVATION: FRA-033 -271 L T BOUND) p I scA1E: IlIC- I' r ' I� IV OP�PROI Mr .TOLL 9QSIIIeL111HL D1UY fal R1AIQ'rJlMf — ..' +�- _ L 1 " � ��� y-.•J � -�`. -- BRIDGE REAR ABUTMENT r3] ELEVATION: FRA-033 -271 L (WEST BOUND) -1 SCALE: IA7 - ra ffl — �17 W ------------ __ - . __.._... _..-_____.__. fOK1QlRrWIRG. M. El ,RRIl IItlI R.AUCt V � _ _ _ �iwuinna. _--- - -- -- --- --- --- -- --- --- --- -- ---- -- - - - ________ ___ __ _______ ----------- _ _ T ------------- - --------------------- _____ __ ------ - -------- - - - -- -------- --- ---------- -- ------- — raa•erumt (ORO¢RMWAf., M. wuTararev rRllm QIQ M. BRIDGE FORWARD ABUTMENT r41 ELEVATION: FRA -033 -27 I L (WE5T BOUND) -I BOVE: IA'P -1'd r¢aeesa Y/UIRIGIYW MmaVL[.M H Z m ® ; z o o ° a UJ i J 4 ¢ RRIWnWl1RliR/RIIIIOIr. W O¢1J SALT. rat Ma.� Z Z> GENERAL NOTE o on I. DO NOT SCAM OFF fRDAI DRAWING. Q m ? Q . r 2. DRAWINGS ARE ONLY GRAPHIC FJPRESBITATION. ALL REQUIRED c STRUCTURAL COMPONENT5 $ INFORMATION ARE OMITTED ANDIDR F I MINN= rOKTHE MjRP05E Of GRAPHIC CLARITY, CONTRACTOR W SKULL REFER TO 5TRIXTURAL DRAWINGS FOR IMVRNIATION OF ALL F- I 5TMOURAL COMPONOYT5 RECILIMAEM. Tn I 3. CONTRACTOR TO REFER STRUCURAL DRAWINGS FOR ACCURATE W Q DIM[ 606 Of REWNING WALL. ABUTMERr. WING WALL. NMI! I WALL AND ALL A55"TED COMPONENTS. i .4. CONTRALTORTO REFER STRUCTURAL ORAWING9 TOR WALL JOINT co — _ i--- — SPACING. n o_ n 5. CONTRACTOR TO 5EE SHEET AM -2 FOR AEMEnC Of PATTERN o i INFORMATION t DErARS. RM N 6. CONTRACTOR TO REFER 5HCEr A5-1 TOR CONCRETE PINW I 5CM UIE 4 NOTE. Q o � a 7. ALL BLANK PANELS WITHOUT MOK401CLATUM 5HOMN ON KEY � MATONIS SHALL BE FORM® BY CONTRACTOR. NO CUSTOM a Herr PATTIM %%L BE PRE5EW ON FINERIED SURFACE, U.O.N. 8. CONTRACTOR 5HALL BE FM% - DNMU TO BLOCK OUT CORR6P'OlDING CI15TOM rnMINBKS ® VERTICAL WALL JON15 AE - 12 WHERE NECM5ARY A5 MDICATED IN EIEVAMONS. txr 3 c �4 ra rosmnem 4 �6MORICIQW.M f 1 j � I � EOWQ e � =J � ewtet �ruros $ - ; w� canoe iaKlnnaaee io•® w mnnnoc i 4 taros w,e p IM'D. M. - Qa e[w GEION pp @@ •Y �� u[waaml 4 ? - • sw,� �p ew�I. U 'i1 y C � NORTH SIDE E � I rorw 90NH SIR - ownl nua Iaraacviaes nnll waswiu. m. � rams rN:s • 1 f. • E�C I I r I I L aNOme1mnc.m mlocle raonc uewndm cam dM. cwvee laoix: urwnrm wa�o BRIDGE FRA- 270 -1716 BRIDGE FRA- 270 -1716 BRIDGE FRA- 270 -1716 PIER ELEVATION: WEST FACE � PIER ELEVATION: NORTH FACE r31 PIER ELEVATION: SOUTH FACE Ke SCNE: IH'- I.O K-0 9CNE: H'- 1-0' K-0 SENE: 1/Y- 1-0' U) TE W a Z roo Z N O� i q F Q o z w N o W <O Z fr O_ .b W EL o EL U � n acYw W amraia�c roeu•I roseaamart. m. a Ld _ ucwaerw r, mm � ao.Iaew.M GBTERAL NOTE W Q snaomw 1 Do NOT SCALE OM FROM DRAWING. camiao roeew[�mrwt 2. DRAWINGS AR[ ONLY AGRAPHIC RCPRES@IrAT10N, ALL RCOUIF" 5nd cNRAI. COMFctcm 4 INFO"TION ARE OMITTED ANIPM MlrMlaD FORrH[ PURPOSE OF GRAPHIC CLARITY CONTRACTOR Rv o I 5HAU. REFER TO STRUCNIRAL DRAWNGS FOR INFORMATION Or ALL ri "� 9TRUQURAL COMPONWf9 REOUIRLI.RNT9 ENLARGED ELEVATION: 3. CONTRACTOR TO REM STRUCTURAL DRAWINGS FOR ACC URATE OI CONNECTION @ PIER 4 ANGLED PIER CAP DIMENSKM OF BRIDGE SFAN AND ALL A550CIATI D COMPONENS N i Kd SCALE I Ire - RP 4. CONTRACTOR TO 5M SHEET AM-I FOR AESTHETIC PATTERN QI o INFORMATION 4 MA R5. 5. FIER HEVATION A EAST FACE IS OMITTED FOR REDUNDANCY. AND a xem SHALL BE REVERSE OF WEST FACE MWATIOIS. G. CONTRACTOR TO REFER SHEET AS- I FOR CONCRETE MN15H AE -8 SCHEDULE 4 NOTES. NING WALL KEY ELEVATION: KW-5 0--� �- - �--, V j5 ��AINING WALL ELEVATION: RW-5 '--------------- U /�^ " ==. . . . . . . . . . . . . . . '- K� all In I U 1, ------_-------------'__ ______________________ ________________ _____ _ K U �~~~~~~� RErAINING WALL ELEVATION: KW-5 0 � >� w g� � o � � Ld CA597AL NOTE I . DO NOT SCALE Off FROM DRAYANG. 00 2. DRAVAWS ARE ONLY A GRAPHIC FVRE50UATIM. ALL R=AF= 5TWCTURAL COMPONENTS 4 INFORMATION ARE OMITM ANWK MINIM= POK THE PURPOSE OF GRAPHIC CLARITY. I 3. CONTRACTOR. TO RUM STRUCTURAL DRAVIOING5 FOR ACCURATE DIMfNSK)N5 Of RETAINING < WALL SPAIN AND ALL ASSOCIATE[) COMPONENTS. 4. CONTRACTOR TO SEE SHEET AM-3 FOR AESTHETIC M5E PANEL PATTERN INFORMATION 4 PERIMETER EDGE OF FAM TO MATCH CU5TOM MSE PANEL. AE-20 Q CONTRACTOR TO REM WET A5-1 POR CONCRETE FINISH 5CMCDULr t NOTES L UT RLI nIMIIYV YYnLL "r Vn11Vl'�% nnV 3 CIP RETAINING WALL ELEVATION: RW -3 (CONTINUE) 1. 00 NOT SCAR OFF FROM DRAWING. 2. DRAWING ARM ONLY A GRAPHIC RVRMWATION. All REOIINIM STWICTLIM COIAOENTS t MEORAMTION ARE OMNTED AND= MIIRM® FORTHM P W05E OF GRAPHIC CLARITY. CONTRACTOR 5HALL REFMTO 5TRIUCTURAL DRAWING FOR INFORMATION OF ALL STRUCTURAL COMP'O ENT5 R[OIRRMMENTS. 3. CONTRACTOR TO RITMR 5TM)MRAL DRAWINGS FOR ACCURATE DIME51ON5 OF RETAINING WALL. ABUTMENT. WING WAIL. NOISE WALL AND ALL ASSOCIATED OOAPOIENTS. 4. CONTRACTOR TO IVM 5TRJCNRAL DRAWING FOR WALL JOINT SPACING, 5. CONTRACTOR. TO SEE 5HEEf AM-2 FOR AESTHETIC CIP PATTERN INFORMAMON { DETAILS. 6. CONTRACTOR TO REFER. SHAT A5-I FOR CONCRETE RNM SCHEDULE t NOTES. 7. ALL MAMC PANES WRHOUT NOK&EMOATURE SHOWN ON KEY ELEVATIONS SHAM BE FORMCD BY CONTRACTOR NO CUSTOM PATTERNS 5ML BE PRESENT ON RN15HMD 51JRFACE. U.O.N. B. CONTRACTOR SNWL CE RE5PO 5AMZ TO BLOCK OUT COMM5POIDING CUSTOM FORMUIRR5 0 VIXTICAL WALL JONT5 WISE NECESSARY AS INOCATED'N CIEVATIOLS. ao Y� ° o I 0y g cL O U 1 (n z O M F i > J W J J z Q o�3 �a Q? az U � Fw wce N W Q 00 N C I O n d N Z Q o IY a AE -1, I CIP RETAINING WALL PATTERN KEY ELEVATION: RW -3 -17 SOV6 ulr- ro e [ ♦ r e ♦ e e G r e r e • c e c r [ a • c c e A c G r e O [ P 3 �pC a [ a q e c P c e [ r e � e r. .F. G .➢. l TI o G H � r 1 �o - --- --- -- -- -- 1 -- ---- - - -- ---'--- --- -- ----i --- - -- -- - -- —, « — - - ---- ----L---- - 0 I I NO WALL PATTERN KEY ELEVATION: NW- I I 9CAIr Ins. ro• 2 NOISE WALL PATTERN KEY ELEVATION: NW- I (CONTINUE) I 9CAIE� uIS- r-a u 8 e e e r [ o 111 e e e r i r c r e c n i n � - - - -- _- 1 - -- - -- - - - -- U 1 I 3 NO WALL PATTERN KEY ELEVATION: NW- I (CONTINUE) -I sour: ins- I•a rm Im 3 oAb °ka Ios � 3 Iranir wt cro r¢awwM_ f'�+ °�•{ au anw rlvA[w• roawu[rvsr. M. 4 .1 m __ O - U ---- _ --- - __________ _______ _ _________ rR tre+A�OtwUiaarlek rcrar.r art m[nec[wlwurroor lLe' TPO[A?ImR I�mOMC M. NRIwtIGYLM IW1mQr0[. M, e.V IVAll.rrr 4 N015E WALL PARTIAL ELEVATION: NW -I -I SfiNr: I/S' - ra wuoue 3 waouc ena rrtawwo lerRMLL�N6f.M • x _ Z Q 1 ------------ _ ________ _________ _________ __________ __________ ________ J -_ �oeae,r[mlwrw r[nwvAa. ewmlvu.mm. 2 W Z J 5 NOISE WALL PARTIAL ELEVATION: NW I (CONTINUE) c 3 urao[ac (L I w GOVA NOR p W Z d su. rmtM. I DO NOT 5Mf OFF FROM DRAWING. _ - 2. DRAWTNG5 AM ONLY A GRAPHIC FIF05MATION. ALL REQUIRED ~' N STRUCTIIRAI. CXM.PONdfS 4 INFORMA710N ARE OMIT= AND= A. CONTRACTOR MINIMIM FORTHE PURPOSE Or GRAPMIC IXRITY Q _ - 5HAI1 RLRR TO 5nWCfURM DRANANGS FOR INFORMATION OF P11 STRUCTURAL COMPORIE TT5 REGURMVQX 8 meaesmiwuwrw:ew ersaa�r[4m nIBm GAOL M. - 3. CONTRACTOR TO REFER 5TRUCNRAL DRAWINGS FOR ACCURATE RTI 6 N015E WALL PARTIAL ON NW- I CONTINU DIME45KIN5 OF RErAJNM WALL. ADUTMW VANG WALL. NOISE -I SCAM W - I.-D, WAIL AND ALL A550CIATED COMP'OTENTS. 4. CONTRACTOR TO FVM 5T%)=M DRAWTNG5 FOR WALL JOINT a O N SPACING. t =m 5. CONTRACTOR TO SEE 5MEET AM -2 FOR AESTMERC CIF FATMN INPORMATION {DETAILS. O I r e _ a G. NT COWYLTOR TO IUM SHEET AS- FOR COT CKM 141,115H 141,115H N Z SCM D= { NOTE. Q o - 7. ALL BL" PANn5 WTHOUT NCMZNCiATURE SHOWN ON KEY E a 1i ELNATION5 SMML BE rORMC00Y CONTRACTOR NO USTOM PATTBM59MALL BE PRESEM ON flN5MED 5URfA(Z, U.O.N. 1 ro[orewmcwurorarneY L mor��r ifdLDQIQ M. e110mtMYLM, 7 N015E WALL PARTIAL ELEVATION: NW -I (C.ONTINUE) B' U= OUT q J5� NM V17FICALWALLJOINT5 AE -19 -I 9CAIC 173 - I O WHIM NB=5ARY AS INDICATTD IN EIPVATIOl5- y A _r. �. _ i �. ,. tJ �#` ...�1',.'� .. 13�? NCl �gC�l` ICRwiOFial{ s' �' i '.AFLh�]C4.�. {r_lsic�%�r��vH.._ t +fi� c,+ ��.k �,A �1�: �� � : fix �� �f. � ��"���"���'�r���'. _ ... r . k �, •f, .-� �r r7�r b� y, � t.r, 't 5 ,a 1 _1 x s � ;mil y1 }A � � �'�'f t'' a�J���� i 5: . ` p� � _•A Rr � w v k' +�; '��� S `� _ �,Rr 7�� -4 `' �` A 'c. 1 ��'*,�j k � fi.; '�F �A �E 4 r '� T ' A+ ' 1 1�� 44 �� 1 ! � ' �e1� 1�!' } " l � F I � f � A4 _ . { ��j.Q S 1 �4'. _ t�3 i '}� Y4. _�. R r " -. ��i.� .�.�., — r � rae �' � . � r. �' LR 4 �6 Y � • ,� �r M ? A 4 �� � � t t�7. ;{ r � f�' k y ,�- •l V, e �� ^� Ry �° >< T'Tr�,.� A rr . y� l � � ,. 1 'K ,ar.. �? � _ ut � E f . s ` } at , Y J `, y 4� ✓✓% 1 1��� i������Y ��k�i �� +��� e d Y �� r ' F . � +� � A'�� ?P C_�� t� y^�� f ! s'l " ��� F Y�{ ��A�I ,� , ■ . - e,� � �, ;a , `�� " } � � r,�1 <zd � �� ai �.. r �..Yiprp�� �, ""'.. ��"* ....: l �,� ��°��� � t w�'4 k �F 'i �A. t. Tw�� ������ ti � 443k k , FFF x' s ,,� i.�� '^ �� �:,�� � '�, �� �� �. ,,� � 1 _ _.__ _. -. w_� -cam- ! • s sx' �r _ - - _�.. - - +msµ - i e�N ^•� - - 1 J n , e, s r s,'t RECORD OF ORDINANCES Da yton Legal Blank, Inc. Forth No 30043 120 -14 Ordinance No. Passed 20 AN ORDINANCE AUTHORIZING THE CITY MANAGER TO ENTER INTO AN AGREEMENT WITH THE OHIO DEPARTMENT OF TRANSPORTATION (ODOT) TO FINANCE THE I- 270 /US 33 INTERCHANGE IMPROVEMENT PROJECT THROUGH THE STATE INFRASTRUCTURE BANK PROGRAM, AND DECLARING AN EMERGENCY. WHEREAS, the City's 2015 — 2019 Capital Improvements Program has programmed the construction of the I- 270 /US 33 interchange improvement project to be initiated in 2015; and WHEREAS, it is necessary to obtain financing for the construction of the project; and WHEREAS, in 1995, Ohio became one of eight states allowed to implement a State Infrastructure Bank (SIB) program; and WHEREAS, the SIB allows the State of Ohio to provide low interest loans to finance infrastructure projects approved by ODOT; and WHEREAS, the City has received preliminary approval from ODOT for participation in the SIB program for the I- 270 /US 33 Interchange improvement project; and WHEREAS, it is necessary for the City to enter into an agreement with ODOT acknowledging the preliminary terms and conditions for participation in the SIB program. NOW, THEREFORE, BE IT ORDAINED by the Council of the City of Dublin, State of Ohio, of the elected members concurring, that: Section 1. The City Manager is hereby authorized to enter into the attached agreement with the Ohio Department of Transportation to finance the I- 270 /US 33 interchange improvement project through the State Infrastructure Bank program. Section 2. The public hearing be waived in order for the agreement to be executed immediately. Section 3. This Ordinance is declared to be an emergency measure necessary for the public peace, health, safety and welfare of this City and for the further reason to allow the final term sheet to be prepared and the project financing to be in place prior to awarding the construction contract for the project. This ordinance shall therefore be effective upon passage. Passed this day of , 2014. Mayor - Presiding Officer Attest: Clerk of Council State of Ohio -Ohio Department of Transportation State Infrastructure Bank Federal Loan Dublin, Ohio I- 270/US 33 Interchange Improvement Project Preliminary Term Sheet November 5, 2014 Outlined below are the terms and conditions of the Ohio Department of Transportation ( "ODOT "), State Infrastructure Bank ( "SIB "), direct loan transaction with the City of Dublin (the "Borrower "), for the improvement of the I- 270/US 33 interchange. The project will include the construction of a cloverstack interchange in the northeast and southwest quadrants of the existing interchange, which will be removed. The Project is scheduled to sell in February 2015 and award is scheduled for March 2015. Construction is anticipated to begin late March 2015 and is expected to be completed by fall of 2017. The following information contains the terms as related to the structure of the SIB direct loan. Loan #: PID #: TIP #: STIP ID: Sources & Uses of Funds: 150003 88310 1946 2014AM05ID0301FDCO See attached Schedule I. (Estimated) Sources: SIB Loan $ 35,010,000 MORPC portion $ 25, 000, 000 City of Dublin portion $10.010.000 City of Dublin $ 8,719,898 TRAC /State of Ohio $ 51,607,043 Total $ 95,336,941 Uses: Environmental $ 5,282,933 Right -of -Way Acquisition $ 11,500,000 Construction $ 73,000,000 Detailed Design $ 3,544,008 Aesthetic Component $ 2,000,000 Transaction Costs $ 10,000 Total $ 95,336,941 Estimated SIB Loan Repayment Schedule: Page 1 of 5 See attached Schedule II. (Estimated) 9, JL Di Estimated Break -out Repayment Schedule Dublin vs. MORPC: See attached Schedule III. (Estimated) I. Proposed Terms of the SIB Direct Loan Loan Amount from SIB: $ 35,010,000 Lender: State of Ohio, Ohio Department of Transportation Borrower: City of Dublin Contact: Angel L. Mumma Director of Finance (614) 410 -4401 amumma @dublin.oh.us Address of Borrower: 5200 Emerald Parkway Dublin, OH 43017 Closing: February 1, 2015 (Estimated) Final Maturity of Loan: February 1, 2035 (Estimated) Term of Loan: 20 years Loan Repayments: There will be no interest assessed on the loan from the date of closing through the last day of the 12'' month. From the first day of the 13 month after closing through final maturity, the interest rate will be 3.0 %. The Borrower will be required to make principal and interest payments commencing on the first day of the 19 month after the Closing Date. The interest amount due, in arrears, will be based upon the outstanding principal amount of the loan from time to time. The projected SIB Loan principal and interest payments are estimated in Schedule II. The break -out of the Dublin and MORPC principal and interest obligations are outlined in Schedule III. Expected Project Start Date: Expected Project Completion Date: February 28, 2015 September 15, 2017 Page 2 of 5 Prepayment of Loan: Prepayment of the State loan, in whole or in part, will be at the option of the Borrower. Any prepayment of the loan prior to the 36 month following closing will be subject to a 3.0% premium. Interest Rate: The following interest rates will be assessed during the designated time periods: Months Interest Rate 1 -12 0.00% 13 -240 3.00% Source of Repayment: The Mid -Ohio Regional Planning Commission ( MORPC) will agree to allow ODOT to use its Annual Federal Allocation which is administered by ODOT to repay $25,000,000 of the total SIB Loan principal obligation. If these federal funds are not received by ODOT in the future and a substitute source of funds are provided by the federal government, MORPC will agree to use these substitute funds and/or allow ODOT to use these funds to repay the SIB Loan. The remaining $10,010,000 balance of the SIB Loan, as well as 100% of MORPC's interest obligation will be repaid by the City of Dublin. The City of Dublin will agree to pledge its city income tax and tax increment finance revenues. Currently, the city's income tax revenue is also being used to secure $12,909,433 and TIF revenues are being used to secure $35,068,708 in debt. However, the income tax receipts alone will provide significant coverage ( >5x) for the City of Dublin's obligation. In addition, the City will agree that in the event the Annual Federal Allocation is insufficient to make the total SIB Loan payment as scheduled in any one year as due, the City will use its Motor Vehicle License Tax funds received to make up any and all SIB Loan repayment shortfalls. See Schedule II and Schedule III attached for Loan repayment details. Closing Requirements of The Borrower: Page 3 of 5 a) Provide evidence that all other Project funding sources are secured; b) Fund cost overruns, if any, in order to complete the Project; c) On an annual basis, the City of Dublin will provide to ODOT, audited financial statements and a Certificate of Available Resources for its portion of the loan repayment amount; d) Provide all environmental approvals, if any, for the Project prior to the closing; e) Provide a guaranteed fixed price for the construction of the Project prior to the drawdown of funds, if applicable, and, f) Pay prevailing wages on all construction contracts, if applicable. Acceptance: Page 4 of 5 DIPWM Advisors Upon acceptance of the terms herein, please sign and submit to the Ohio Department of Transportation, Melinda Lawrence, 1980 W. Broad Street, Mailstop 2130, Columbus, Ohio 43223. Upon execution of this term sheet, the Borrower has the right to terminate this agreement prior to the Loan closing. This agreement will be terminated if not signed and received by December 31, 2014. The SIB loan documents must be executed by June 30, 2015 or the loan will be canceled and closed. If an application is resubmitted for the same project, an application fee of $5,000 will be assessed. Ohio Department of Transportation By: Date: Its: The City of Dublin hereby accepts the foregoing terms and conditions on the date set forth below. By: Date: Its: Page 5 of 5 I DiPema Advisors 1112512014 Schedule I: Sources and Uses of Funds Ohio Department of Transportation State Infrastructure Bank City of Dublin in partnership with the Mid -Ohio Regional Planning Commission (MORPC) I- 270 /US 33 Interchange Improvement Project Schedule I Sources and Uses of Funds & Financing Terms Pagel Sources State Infrastructure Bank Loan MORPC Portion City of Dublin Portion City of Dublin TRAC /State of Ohio $ 25, 000, 000.00 $ 10,010,000.00 8,719,898.00 51,607,043.00 Total Sources of Funds $ 95,336,941.00 Uses Environmental Right -of -Way Acquisition Construction Detailed Design Aesthetic Component Transaction Costs $ 35,010,000.00 $ 5,282,933.00 11,500,000.00 73,000,000.00 3,544,008.00 2,000,000.00 10,000.00 Total Uses of Funds $ 95,336,941.00 i Loan Term (years) 20.00 Interest Rate from 02/01/15 to 01/31/16 0.000% Interest Rate from 02/01/16 to 01/31/35 3.000% Semi - Annual Payments beginning on 08/01/16 to 02/01/35 $1,215,411.81 Total MORPC Obligations ($25,000,000 Loan Principal Payments) Total City Obligations ($10,010,000 Loan plus 100% of MORPC Interest) s JL Wema Adviwm 1112512014 Ohio Department of Transportation State Infrastructure Bank City of Dublin in partnership with the Mid -Ohio Regional Planning Commission (MORPQ I- 2701US 33 Interchange Improvement Project Schedule II Estimated Total Payment Schedule Date Principal Interest 3.00% Total Payment Outstanding Balance 02/01115 $ 35,010,000.00 08/01/15 35,010,000.00 02/01/16 35,010,000.00 08/01/16 690,261.81 525,150.00 1,215,411.81 34,319,738.19 02/01117 700,615.74 514,796.07 1,215,411.81 33,619,122.45 08/01/17 711,124.98 504,286.84 1,215,411.81 32,907,997.47 02/01/18 721,791.85 493,619.96 1,215,411.81 32,186,205.62 08/01118 732,618.73 482,793.08 1,215,411.81 31,453,586.89 02/01/19 743,608.01 471,803.80 1,215,411.81 30,709,978.89 08/01/19 754,762.13 460,649.68 1,215,411.81 29,955,216.76 02/01/20 766,083.56 449,328.25 1,215,411.81 29,189,133.20 08/01/20 777,574.81 437,837.00 1,215,411.81 28,411,558.38 02/01/21 789,238.44 426,173.38 1,215,411.81 27,622,319.94 08/01/21 801,077.01 414,334.80 1,215,411.81 26,821,242.93 02/01/22 813,093.17 402,318.64 1,215,411.81 26,008,149.76 08/01/22 825,289.57 390,122.25 1,215,411.81 25,182,860.20 02/01/23 837,668.91 377,742.90 1,215,411.81 24,345J 91.29 08/01/23 850,233.94 365,177.87 1,215,411.81 23,494,957.34 02/01/24 862,987.45 352,424.36 1,215,411.81 22,631,969.89 08/01/24 875,932.26 339,479.55 1,215,411.81 21,756,037.63 02/01/25 889,071.25 326,340.56 1,215,411.81 20,866,966.38 08/01/25 902,407.32 313,004.50 1,215,411.81 19,964,559.06 02/01/26 915,943.43 299,468.39 1,215,411.81 19,048,615.64 08/01/26 929,682.58 285,729.23 1,215,411.81 18,118,933.06 02/01/27 943,627.82 271,784.00 1,215,411.81 17,175,305.24 08/01/27 957,782.23 257,629.58 1,215,411.81 16,217,523.01 02/01/28 972,148.97 243,262.85 1,215,411.81 15,245,374.04 08/01/28 986,731.20 228,680.61 1,215,411.81 14,258,642.84 02/01/29 1,001,532.17 213,879.64 1,215,411.81 13,257,110.67 08/01/29 1,016,555.15 198,856.66 1,215,411.81 12,240,555.52 02/01130 1,031,803.48 183,608.33 1,215,411.81 11,208,752.04 08/01/30 1,047,280.53 168,131.28 1,215,411.81 10,161,471.51 02/01/31 1,062,989.74 152,422.07 1,215,411.81 9,098,481.77 08/01/31 1,078,934.59 136,477.23 1,215,411.81 8,019,547.18 02/01/32 1,095,118.60 120,293.21 1,215,411.81 6,924,428.58 08/01/32 1,111,545.38 103,866.43 1,215,411.81 5,812,883.19 02/01/33 1,128,218.56 87,193.25 1,215,411.81 4,684,664.63 08/01/33 1,145,141.84 70,269.97 1,215,411.81 3,539,522.79 02/01/34 1,162,318.97 53,092.84 1,215,411.81 2,377,203.82 08/01/34 1,179,753.76 35,658.06 1,215,411.81 1,197,450.06 02/01/35 1,197,450.06 17,961.75 1,215,411.81 (0.00) Totals $ 35,010,000.00 $ 11,175,648.87 $ 46,185,648.87 Schedule II: Estimated Total Repayment Schedule Page 2 DiPe— &i-, 1112512014 Schedulelll: Breakout Repayment Schedule Ohio Department of Transportation State Infrastructure Bank City of Dublin w padoen hip with the Mid -Ohio Regional Planning Commission (MORPQ I- 270 /US 33 Interchange Improvement Project Schedule III Breakout Repayment Schedule hSC /JN7K9.7 .. eY'7.TY�i77.7A'lil.71r.7.Y.TFi Date Principal MORK Payment Outstanding Balance Principal Interest 3.00% City Loan Payment MORK Interest Total City Payment Outstanding Balance Total Outstanding Balance 02,01/15 $ 25,000,00000 $ 10,010,00000 $ 35,010,00000 06,01/15 - 25,000,00000 - - - 10,010,00000 35,010,00000 02,01/16 - 25,000,00000 - - - 10,010,00000 35,010,00000 06,01/16 $ 492,90332 $ 492,90332 24,507,09666 $ 197,36849 $ 150,15000 $ 347,50649 $ 375,00000 $ 722,508.49 9,612,64151 34,319,738.19 02,01/17 500,29667 500,29667 24,006,799.61 200,31887 147,16962 347,508.49 367,60645 715,11494 9,612,322.64 33,619,12245 06,01/17 507,60133 507,60133 23,496,998.46 203,32365 144,16464 347,50649 360,10200 707,610.49 9,406,99809 32,907,99747 02,01/16 515,41634 515,41634 22,963,680.14 206,37351 141,13408 347,50649 352,46408 699,993.47 9,202,626.49 32,166,205 62 06,01/16 523,14962 523,14962 22,460,43052 209,46911 136,03936 347,50649 344,75370 692,262.19 8,993,15636 31,453,68669 02,01/19 530,99666 530,99666 21,929,43365 212,61114 134,69735 347,50649 336,90646 664,41495 6,760,54523 30,709,97889 06,01/19 536,961.62 536,96162 21,390,47163 215,60031 131,70616 347,50649 326,94150 676,44909 6,564,74492 29,955,21676 02,0120 547,04624 547,04624 20,643,42669 219,03732 126,47117 347,508,49 320,86706 666,36557 6,345,707,61 29,169,13320 06,0120 665,25104 666,25104 20,288,17365 222,32288 125,18661 347,50649 312,65136 660,15967 6,123,36473 26,411,66836 02,0121 563,68072 563,68072 19,724,59293 225,65772 121,86077 347,508.49 304,32260 651,63109 7,697,72701 27,622,31904 06,0121 572,034.43 572,034.43 19,152,66851 229,04259 116,46601 347,50649 295,86889 643,37736 7,666,664.43 26,621,24203 02,0122 680,61494 680,61494 16,571,W 56 232,47622 115,03027 347,50649 267,28836 634,79667 7,436,206 20 26,006,14976 06,0122 689,324.17 689,324.17 17,962,61939 235,96540 111,54309 347,50649 276,57915 626,06764 7,200,24060 25,162,66020 02,0123 596,16403 596,16403 17,364,45536 239,50488 106,00361 347,50649 269,73929 617,24776 6,960,73603 24,345,19129 06,0123 607,136.49 607,136.49 16,777,31887 243,09745 104,41104 347,50649 260,76663 606,27532 6,717,638.46 23,494,95734 02,0124 616,24354 616,24354 16,161,07533 246,74301 100,76456 347,508,49 251,65976 599,16627 6,470,69456 22,631,96969 06,0124 625,467.19 625,467.19 15,535,688.14 250,44507 97,06342 347,50649 242,41613 689,92462 6,220,449.49 21,756,03763 02,0125 634,669.50 634,669.50 14,900,718.64 254,20175 93,30674 347,508.49 233,03362 680,54231 5,966,24774 20,666,96636 06,0125 644,39254 644,39254 14,256,326.10 268,01477 69,49372 347,50649 223,51076 571,01927 6,706,23297 19,964,66906 02,0126 654,068.43 654,068.43 13,602,26766 261,88600 86,62349 347,50649 213,64469 561,35336 5,446,347,97 19,046,61564 06,0126 663,66931 663,66931 12,936,39636 265,61327 61,69522 347,50649 204,03401 661,54251 5,160,53470 16,116,93306 02,0127 673,62735 673,62735 12,264,57101 269,60047 77,70602 347,50649 194,07608 541,684.47 4,910,73423 17,175,30524 06,0127 663,93476 663,93476 11,680,63625 273,64746 73,66101 347,50649 163,96657 531,47706 4,636,66676 16,217,52301 02,0126 694,19376 694,19376 10,886,442.46 277,96619 69,66330 347,508,49 173,70954 521,21603 4,368,93157 15,245,37404 06,0126 704,60669 704,60669 10,161,636.79 262,12452 65,36307 347,50649 163,29664 510,606.13 4,076,60705 14,256,64264 02,0129 715,17579 715,17579 9,466,66001 266,35636 61,15211 347,506.49 152,72754 500,23603 3,790,450.67 13,257,11067 06,0129 725,903.42 725,903.42 6,740,75656 290,65173 56,65676 347,50649 141,99900 469,50639 3,499,79604 12,240,66552 02,01/30 736,79107 736,791,97 6,003,96461 295,01151 52,49606 347,50649 131,11135 476,61964 3,204,767,43 11,206,75204 06,01/30 747,64386 747,64386 7,256,12076 299,43666 46,07161 347,50649 120,05947 467,56796 2,905,35075 10,161,47151 02,01/31 759,06151 759,06151 6,497,05925 303,92623 43,56026 347,50649 106,64161 456,35030 2,601,422.52 9,096,46177 06,01/31 770,447.43 770,447.43 6,726,61161 306,46715 39,02134 347,50649 97,45689 444,96436 2,292,93537 6,019,54716 02,01/32 762,004.14 762,004.14 4,944,60767 313,11446 34,39403 347,506,49 65,69916 433,40767 1,979,62001 6,924,42656 06,01/32 793,73421 793,73421 4,150,673.46 317,61116 29,69731 347,50649 74,16912 421,67761 1,662,00973 5,612,663.19 02,01/33 605,64022 605,64022 3,345,233.24 322,57634 24,93015 347,506.49 62,26310 409,77150 1,339,43139 4,664,66463 s Page 3 oae 1112512014 Schedulelll: Breakout Repayment Schedule Ohio Department of Transportation State Infrastructure Bank City of Dublin w paimen hip with the Mid -Ohio Regional Planning Commission (MORPQ I- 270 /US 33 Interchange Improvement Project Schedule III Breakout Repayment Schedule MORPCObligatiom City ofDahin Obligations Total Date Principal MORK Outstanding Principal Interest City Loan MORK Total City Outstanding Outstanding Payment Balance 3.00% Payment Interest Payment Balance Balance 06,01/33 617,72462 617,72462 2,527,508.42 327,41702 20,09147 347,50649 50,17650 397,66699 1,012,01437 3,539,522.79 02,01/34 629,99070 629,99070 1,697,51772 332,32627 15,16022 347,50649 37,91263 365,421.12 679,666.10 2,377,203 62 06,01/34 642,44056 642,44056 655,07716 337,31320 10,19529 347,50649 25,46277 372,97126 342,37290 1,197,45006 02,01/35 655,077.16 655,077.16 000 342,37290 5,13559 347,50649 12,62616 360,33465 (000) (000) Totals $ 25,000,000.00 $ 25,000,000.00 $ 10,010,000.00 $ 3,195,322.63 $ 13,205,322.63 $ 7,960,326.24 $ 21,165,646.67 s Page 4 oae-s RESOLUTION T-10-13 `PROVIDING ADDITIONAL MORPC-ATTRIBUTABLE FUNDING FOR THE I- 270 /US 33 NORTHWEST INTERCHANGE° WHEREAS, the Policy Committee of the Mid -Ohio Regional Planning Commission Is designated as the Metropolitan Planning Organization (MPO) for the Columbus metropolitan planning area; and WHEREAS, the MPO Is responsible for allocating certain federal transportation funds that are attributed to it; and WHEREAS, the Policy Committee by Resolution T -3-12, "ADOPTING 'PRINCIPLES FOR MANAGING MORPC-ATTRIBUTABLE FEDERAL FUNDS' AND'APPLICATION PROCEDURE FOR MORPG ATTRIBUTABLE FUNDING PROGRAMS'" established the process to allocate these funds; and WHEREAS, these principles include a biennial project solicitation process to select projects to use MOPRC- attributable funding; and WHEREAS, in accordance with these principles, in June 2012 project applications were solicited, received, evaluated by MORK staff and the Federal Funding Committee, and the projects selected to receive these funds and their amounts were included in Resolution T -113 "ADOPTING PROJECTS TO USE MORPC- ATTRIBUTABLE FEDERAL FUNDING "; and WHEREAS, Resolution T -113 included a commitment of $7M for Phase 1 of the 1- 270 /US 33 Northwest Interchange project; and WHEREAS, the Ohio Department of Transportation (ODOT) has requested MORPC- attributable funding totaling $25 million (an addition of $18 million) for the construction of this project structured through a State Infrastructure Bank (SIB) loan for 20 years; and WHEREAS, a working group of Policy Committee members was convened under the leadership of Policy Committee Secretary Matt Greeson to address: 1) Response to this $25 million request that was made outside of MORPC's normal funding decision process, and 2) Response to such requests in the future; and WHEREAS, the working group met several times to understand the project and the ODOT request Including a joint meeting of the working group with the ODOT Chief of Staff and the Chief Engineer to discuss the project and the ODOT request; and WHEREAS, after careful consideration the working group recommends: 1) to provide the requested funding; 2) continue to pursue additional cost savings or funding opportunities; 3) establish procedures for future out of cycle requests; and WHEREAS, MORK and Dublin with support from ODOT on June 3 submitted a TIGER application requesting $15,000,000 for the project to the U.S. Department of Transportation; and WHEREAS, MORPC and Dublin are continuing to pursue other possible funding sources in order to reduce the MORPC - attributable and Dublin shares of the project; and WHEREAS, the Citizen Advisory Committee at its meeting on June 3, 2013, and the Transportation Advisory Committee at its meeting on June 5, 2013, recommended approval of funding for this project to the Policy Committee; now therefore Resolution T -10-13 Page 2 BE IT RESOLVED BY THE POLICY COMMITTEE OF THE MID-OHIO REGIONAL PLANNING COMMISSION: Section 1. That MORK commits up to $25,000,000 in MORPC- attributable funding for the right -of -way and /or construction phases of the 1- 270 /US 33 northwest interchange project pending continued availability of MORPC - attributable federal funding. Section 2. That the funds will be made available through a 20 year State Infrastructure Bank (SIB) loan. The City of Dublin will be the SIB loan recipient with the MORK funding paying back the Principle. Section 3. That it requests that the ODOT SIB lower the interest rate below the current 3 percent rate to 2.5 percent to help reduce the financial burden of this system interchange project on the local partners. Section 4. That if U.S Department of Transportation TIGER funding is secured for this project that the MORPC - attributable funding is reduced by two-thirds of the award amount and the Dublin funding is reduced by one -third of the award amount. Section 5. That if other (non- TIGER) funding is secured that is not shown in Attachment 1 or there are cost savings that bring the total project cost below those shown in Attachment 1 that the reduction first be applied to the Dublin contribution up to the amount of SIB interest being paid by Dublin and if additional funding or cost savings are secured they would be applied by reducing the MORPC- attributable funding by two-thirds and the Dublin funding by one -third of the additional funding or cost savings. Section 6. That MORK Executive Director is authorized to enter into agreements with ODOT or Dublin as necessary to execute the provisions of this resolution. Section 7. That this resolution will be transmitted to ODOT and Dublin for appropriate action. Section 8. That it directs MORK staff and the Federal Funding Committee to incorporate a procedure for out of cycle requests into the update of the Principles for Managing MORPC Attributable Federal Funds that includes the following considerations: • Guidelines on when the chair should establish an ad -hoc committee to consider the request or if to assign it to a standing committe • Regional significance /regional benefit of the project • If a local sponsor is willing to act as the applicant to MORK • The portion of the project cost provided by applicant compared to its total operating and capital financial capacity Resolution T -10 -13 Page 3 Section 9. That the Policy Committee finds and determines that all formal deliberations and actions of this committee concerning and relating to the adoption of this resolution were taken in open meetings of this committee. a1v Eric S. Phillips, Ming Chair MID-OHIO REGIONAL PLANNING COMMISSION (01 Date Prepared by: Transportation Staff Attachment 1: Funding Plan for 1- 270 /US 33 Northwest Interchange Phase 1 Attachment 1 to Resolution T-1043 Funding Plan for {- 270 /1.11S 33 Northwest Interchange Phase 1 Funding Sources Project Phase ODOT/TRAC Dublin MORPC Total Preliminary Engineering $1.5 M $2.75 M $4.25 M Detailed Design $4 M 3 M 7 M Right-0f- Way /Utilities $4 M $3.5 M $7.5 M Construction 40 M 8 M 25 M 73 M Total 50 M $17.25 M 25 M $91.75 M SIB Interest $4.5 M $4.5 M Total Including SIB Interest $50 M $21.75 M $25 M $96.25 M