AgdaPkt 2020-12-07 Amended Joint SA PFA

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5.A. - Page 17 of 29 Furthermore, without committing the Parties to financial obligations beyond this Agreement, the Parties agree to meet and confer to discuss possible solutions to regional flooding issues. F. Meet and Confer regarding Post-MOU Activities. Promptly upon completion of Project construction, if sufficient funds are not available through project savings to fund beyond the five-year post -construction Operation and Maintenance Activities and Mitigation Activities, the Parties will meet and confer to discuss the potential for one or more separate agreement(s) setting forth the Parties' respective obligations for performing and funding Operation and Maintenance Activities and Mitigation Activities and any other Project -related responsibilities beyond the Term of this MOU ("Future Project -Related Responsibilities"). Possible agreements include, by way of example only, the District agreeing to perform and fund Future Project -Related Responsibilities if it has, by that point, secured a dedicated long-term funding source for such activities; or the Parties agreeing to work collaboratively and in good faith to secure additional funding for Future Project -Related Responsibilities, including through grants, developer impact fees, and monetary contributions from private actors and/or other governmental jurisdictions or agencies. However, if after meeting and conferring the Parties are unable to successfully negotiate one or more separate agreement(s) setting forth the Parties' respective obligations regarding Future Project -Related Responsibilities, Redwood City, Menlo Park, the County, and the District shall each be responsible for an equal (one-fourth) share of all remaining unfunded Future Project -Related Responsibilities ("Default Share"). A Party's liability for its Default Share shall survive its withdrawal from this MOU unless all remaining Parties agree to absorb the withdrawing Party's (or Parties') Default Share. However, notwithstanding the foregoing, the District shall not be responsible for its Default Share unless it has secured a long-term funding source. 5. Proiect Costs and Payment Calculations. A. Project Cost Estimates. The estimated costs to complete the construction, operation and maintenance and mitigation activities and all related tasks outlined in the Scope of Work total $8,590,000 ("Estimated Amount"). The California Department of Water Resources (DWR) has awarded a grant in the amount of $1,135,000 to the City of Redwood City for the Project (the "Grant"), provided that construction is completed by December 31, 2021, and thereby subjecting the Project to the terms of the Grant, as amended. A copy of the Grant agreement has been provided to the Parties under separate cover. Subtracting this DWR grant amount from the Estimated Amount leaves a residual estimated cost of $7,455,000, which is the amount to be shared by the Cities and County ("Shared Obligation") as follows: Contributing Jurisdiction Town of Atherton City of Menlo Park City of Redwood City County of San Mateo Maximum Contribution and Percentage of Shared Obligation Under this MOU $1,350,000 (18.11%) $1,153,000 (15.47%) $2,658,000 (35.65%) $2,294,000 (30.77%) TOTAL $7,455,000 (100%) Promptly following the District's receipt of construction bids for the Project and then, again, after completion of the Project construction, the Parties shall meet and confer to reassess the Project costs and determine whether any adjustment in the Estimated Amount and Shared Obligation is warranted in light of revised anticipated design, permitting and construction costs and the anticipated costs for Future ATTY/AGR.2020.270/FSLRRD, Atherton, Menlo Park and County (MEMORANDUM OF UNDERSTANDING) (Page 4 of 15)