Agmt25 Peninsula Corridor Joint Powers Board - PSR MOU

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B. Funding and Payment Each Party will provide funding to cover half of the cost of performance of the Scope of Work (Scope of Work Costs), not to exceed $250,000 per party. Insufficient Funding: In the event that additional funding is needed to complete the Scope of Work, the Parties will identify the additional amounts needed and will work together to identify potential sources of funding. The Parties are not required, but may choose to contribute additional funds to complete the Scope of Work. Use of Funds: The Parties will use the allocated City funds only for the Scope of Work to be performed by the selected consultant. Reimbursement Basis: The JPB will make payments to the selected consultant for Scope of Work Costs. The JPB will submit reimbursement requests to the City for half of the Scope of Work Costs incurred after the Execution Date. Scope of Work Costs must be incurred and paid by the JPB prior to requesting reimbursement. Sufficient documentation must accompany all requests for reimbursement. Invoices and Payments: No more than once a month and no less than once every three months, the JPB must prepare and submit billing statements consistent with all required supporting documentation. Supporting documentation may include: copies of associated vendor invoices and backup documentation. The City will endeavor to disburse reimbursements for approved Scope of Work Costs within thirty (30) days after the City’s approval of each claim. Invoices shall be delivered to: Engineering & Transportation Division Attn: Malahat Owrang City of Redwood City l 0 17 Middlefield Road Redwood City, CA 94063 Payments shall be delivered to: Caltrain Billing Peninsula Corridor Joint Powers Board 1250 San Carlos Avenue San Carlos, California ATTY/AGR.2025.069/Caltrain (MOU with Caltrain- Grade Separation Project) (Page 2 of 18)