Resolution:
BE IT RESOLVED, that Hennepin County hereby agrees to increase its funding commitment for the capital costs of the METRO Green Line Extension Project (Southwest LRT) by $190,358,000, up to an amount not-to-exceed $592,953,000, which is in addition to the approximately $175 million of Counties Transit Improvement Board (CTIB) funding paid to the project since 2011 and is in addition to the approximately $42 million in cash remaining in the CTIB Depository Account, subject to conditions and provisions in the subsequent resolving clauses in this resolution; and
BE IT FURTHER RESOLVED that Hennepin County agrees to provide capital funding during the engineering phase, beyond the CTIB engineering funding commitment, with the terms and conditions of this additional engineering phase funding to be addressed through the grant agreement(s); and
BE IT FURTHER RESOLVED that Hennepin County’s funding commitment to the METRO Green Line Extension Project is subject to the following:
a) The conditions set forth in Hennepin County Resolution #17-0207 and in resolutions approved by CTIB, including Resolution #70-CTIB-2016, Resolution #44-CTIB-2016, Resolution #52-CTIB-2015, Resolution #49-CTIB-2014, and Resolution #71-CTIB-2012;
b) That all project contingency funds be managed pursuant to the revised Executive Change Control Board Operating Procedures attached as Exhibit A;
c) The additional project considerations, as attached in Exhibit B;
d) That project decision making proceed as set forth in Exhibit C;
e) FTA approval and execution of a Full Funding Grant Agreement in the amount of at least $928.8 million; and
BE IT FURTHER RESOLVED that Hennepin County’s funding commitment shall also be subject to the following: availability and provision of sufficient funding from proceeds of taxes authorized by Minnesota Statutes, section 297A.993 and associated financings; payment of the funding commitment in any year is subject to appropriation by the county; and the execution and fulfillment of grant agreement(s) by the Metropolitan Council; and
BE IT FURTHER RESOLVED that Hennepin County designates its two representatives to the Executive Change Control Board as the Board Chair and Public Works Committee Chair, with alternates to be further designated.