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to City of Mebane specifications and in consultation with the Mebane's engineer and public <br />works staff. <br />When the project was approved, it was to be funded using the Central Efland /North Buckhorn <br />SRF loan. The bids for that project were significantly lower than projected, which left room in <br />the total loan amount to finance this project. In discussions with the State Infrastructure <br />Finance Division regarding adding this project to the Central Efland project, the State requested <br />that the County instead apply for a separate SRF loan to fund this project. Work was done to <br />this end, and the BOCC approved a Resolution on March 13, 2012 requesting a separate SRF <br />loan for the McGowan Creek Interceptor project. Since that time, the loan has been approved <br />and the value of the project ($755,450) has been added to the County's approved Capital <br />Investment Plan (CIP). This amount includes engineering, easement acquisition and <br />construction costs. <br />Loan Timeline: The SRF Loan program has a specific timeline which includes several <br />milestones. The County is well situated to meet all the milestones, but the loan money will not <br />become available until the State approves the construction contract for this project. This is a <br />reimbursement loan, so the money spent on the project between now and the approval of the <br />contract can be reimbursed once the loan funds are released. However, there will be expenses <br />incurred before then, most notably this engineering contract. These expenses will have to be <br />paid from the County General Fund until the SRF Loan funds are released. <br />The following timeline represents the State SRF required project delivery and completion <br />milestones: <br />TASK <br />END BY DATE <br />BOCC Action: McGowan Creek Interceptor Engineering Contract <br />Approved <br />1/24/13 <br />Construction Drawings and Specifications submitted to State <br />6/3/13 <br />Construction Drawings/Specifications/Perm its approved by State <br />9/2/13 <br />Advertise, Bid, Receive Bids and Receive State Authority to Award <br />12/2/13 <br />BOCC Action: Award Contract for Construction <br />12/10/13 <br />Execute Construction Contracts <br />1/2/2014 <br />It is anticipated that the project will proceed more rapidly than these required deadlines and be <br />ready to award earlier than the milestone date shown above, but these dates represent the <br />worst case scenario. Missing any of these State SRF deadlines will result in forfeiture of the <br />SRF loan funding. The actual construction time is expected to be 6 -7 months, depending on <br />the weather and the subsurface conditions encountered. <br />FINANCIAL IMPACT: The full project cost of $755,450 has been included in the FY2012 -13 <br />Capital Improvement Project budget. The CIP budget has a line item of $75,000 for <br />Professional Services, which was an initial estimate of the engineering costs when the CIP <br />project was created. This will need to be increased to cover the $94,200 for this engineering <br />contract for McGill Associates. However, the estimated Construction cost of $630,450 for this <br />project in the CIP included some Construction Phase engineering services, so reducing the <br />Construction line item by $19,200 and transferring this amount to the Professional Services line <br />item would be appropriate as part of the upcoming 2013 -14 CIP process. As noted above, the <br />SRF loan funds will not be available until the construction contract has been signed, so any <br />