21.11.02 IGA Option 1 Letter - PO_ 400001584 - OLA_ 33100261 $147,120 PO # / OLA #: 400001584 / 331002617
Routing #: 22-HA3-XC-00223-ZM0001
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Rev. 12/09/2016
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IGA OPTION LETTER
Date State Fiscal Year Option Letter No.
11/02/2021 2022 1
Project Code Original Contract #
22-HA3-XC-00223 C M058-003 (24776)
Vendor Name: TOWN OF AVON
SUBJECT
Option to unilaterally add phasing to include Design, Construction, Environmental, Utilities, ROW incidentals or
Miscellaneous and to update encumbrance amount(s).
REQUIRED PROVISIONS
In accordance with the terms of the original Agreement 22-HA3-XC-00223 between the State of Colorado,
Department of Transportation and TOWN OF AVON, the State hereby exercises the option to add a phase that will
include Design and to encumber funds for the phase based on changes in funding availability and authorization. The
total encumbrance is now increased by $147,120.00. A new Exhibit C-1 is made part of the original Agreement and
replaces Exhibit C.
The total encumbrance as a result of this option and all previous options and/or amendments is now $147,120.00, as
referenced in Exhibit C-1. The total budgeted funds to satisfy services/goods ordered under the Agreement remains
the same: $2,500,000.00 as referenced in Exhibit C-1.
The effective date of this option letter is upon approval of the State Controller or delegate.
APPROVALS
State of Colorado:
Jared S. Polis, Governor
_____________________________________________ Date: __________________
By: Stephen Harelson, P.E., Chief Engineer
For: Shoshana M. Lew, Executive Director, Colorado Department of Transportation
ALL CONTRACTS MUST BE APPROVED BY THE STATE CONTROLLER
CRS §24-30-202 requires the State Controller to approve all State Contracts. This Contract is not valid until
signed and dated below by the State Controller or delegate. Contractor is not authorized to begin
performance until such time. If Contractor begins performing prior thereto, the State of Colorado is not
obligated to pay Contractor for such performance or for any goods and/or services provided hereunder.
State Controller
Robert Jaros, CPA, MBA, JD
By: __________________________________
Date: _________________________________
DocuSign Envelope ID: 65BEB86E-9205-4D12-8921-C951E83A24A3
11/4/2021
11/5/2021
Exhibit C-1 - Page 1 of 1
EXHIBIT C-1 – FUNDING PROVISIONS C M058-003 (24776)
A. Cost of Work Estimate
The Local Agency has estimated the total cost of the Work to be $2,500,000.00 which is to be funded as follows:
1. BUDGETED FUNDS
a. State Funds
(80.00% of Costs)
$2,000,000.00
b. Local Agency Matching Funds
(20.00% of Costs)
$500,000.00
TOTAL BUDGETED FUNDS
$2,500,000.00
2. ESTIMATED PAYMENT TO LOCAL AGENCY
a. State Funds Budgeted $2,000,000.00
TOTAL ESTIMATED PAYMENT TO LOCAL AGENCY
$2,000,000.00
3. FOR CDOT ENCUMBRANCE PURPOSES
a. Total Encumbrance Amount (Only CDOT Funds are encumbered) $2,000,000.00
b. Less ROW Acquisition 3111 and/or ROW Relocation 3109 $0.00
Net to be encumbered as follows: $2,000,000.00
Note: Only $147,120.00 in Design funds are currently available. Additional funds will become available
after execution of an Option letter (Exhibit D) or formal Amendment.
WBS Element 24776.10.30 Performance Period Start*/End Date
N/A / N/A
Design
3020
$147,120.00
WBS Element 24776.20.10 Performance Period Start*/End Date
N/A / N/A Const. 3301 $0.00
*The Local Agency should not begin work until both of the following are in place: 1) The execution of the document encumbering funds for the respective phase; and
2) Local Agency receipt of the official Notice to Proceed. Any work performed before these two (2) milestones are achieved will not be reimbursable.
B. Matching Funds
The matching ratio for this Work is 80.00% State funds to 20.00% Local Agency funds, it being understood that such ratios applies
only to the $2,500,000.00 that is eligible for State funding, it being further understood that all non-covered costs are borne by the
Local Agency at 100%. If the total cost of performance of the Work exceeds $2,500,000.00, and additional State funds are made
available for the Work, the Local Agency shall pay 20.00% of all such costs eligible for State funding and 100% of all non-covered
costs; if additional State funds are not made available, the Local Agency shall pay all such excess costs. If the total cost of performance
of the Work is less than $2,500,000.00, then the amounts of Local Agency and State funds will be decreased in accordance with the
funding ratio described herein.
C. Maximum Amount Payable
The maximum amount payable to the Local Agency under this Agreement shall be $2,000,000.00 (for CDOT accounting purposes,
the State Funds of $2,000,000.00 will be encumbered, but the Local Agency matching funds of $500,000.00 will NOT be
encumbered), unless such amount is increased by an appropriate written modification to this Agreement executed before any
increased cost is incurred. The total budget of this project is $2,500,000.00. It is understood and agreed by the parties hereto that
the total cost of the Work stated hereinbefore is the best estimate available, based on the design data as approved at the time of
execution of this Agreement, and that such cost is subject to revisions (in accord with the procedure in the previous sentence)
agreeable to the parties prior to bid and award.
The maximum amount payable shall be reduced without amendment when the actual amount of the Local Agency’s awarded
contract is less than the budgeted total of the federal participating funds and the local agency matching funds. The maximum amount
payable shall be reduced through the execution of an Option Letter as described in Section 6 of this contract.
DocuSign Envelope ID: 65BEB86E-9205-4D12-8921-C951E83A24A3