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Cooperative Endeavor Agreement Between the City of New Orleans and the Regional Transit Authority for Algiers Ferry Terminal Funding
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DESCRIPTION: Requesting Board authorization to approve a Cooperative Endeavor Agreement between the City of New Orleans and Regional Transit Authority for Algiers Ferry Terminal Funding |
AGENDA NO: Click or tap here to enter text. |
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ACTION REQUEST: ☒ Approval ☐ Review Comment ☐ Information Only ☐ Other |
RECOMMENDATION:
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Authorize the Chief Executive Officer to execute a Cooperative Endeavor Agreement between the City of New Orleans and the Regional Transit Authority for capital funding for the renovation of the Algiers Ferry Terminal.
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ISSUE/BACKGROUND:
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The RTA is seeking to renovate the Algiers Ferry Terminal at Morgan Street in the Algiers Point neighborhood (“Algiers Ferry Terminal”). The RTA has sought and been awarded two capital grants from the Federal Transit Administration to support this project.
In 2019, the City of New Orleans secured $291,000 in funding from the State of Louisiana (“State Funding”) for the renovation of the Algiers Ferry Terminal. The proposed Cooperative Endeavor Agreement (“CEA”) between the City of New Orleans and the RTA is the mechanism by which the State Funding can flow from the City to the RTA to support the project. The CEA outlines standard terms and conditions for disbursement of the State Funding to the RTA and the respective responsibilities of the RTA and City to ensure a successful project and mutually satisfactory oversight of its design and construction. The CEA is included here as an attachment to this summary.
Including the State Funding, the renovation of the Algiers Ferry Terminal is fully funded and ready to start construction in 2025.
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DISCUSSION:
The terms of the CEA have been reviewed and agreed upon by both the RTA’s Chief Legal Officer and the City Attorney’s Office for the City of New Orleans. The principal components of the agreement are as follows:
• The RTA’s reporting obligations to the City of New Orleans and the RTA’s representations and warranties.
• The City’s obligations to the RTA during the course of the project.
• The requirements and parameters associated with the State Funding and the mechanisms by which the RTA will obtain reimbursement from the State Funding through the City of New Orleans
• Standard termination, indemnification, and insurance provisions
• Other standard CEA provisions such as Force Majeure and non-discrimination clauses
The CEA is a mechanism for the Algiers Ferry Terminal renovation project to receive critical capital funds that will allow the project to be fully funded and to move forward.
FINANCIAL IMPACT:
None directly. Per the terms of the CEA, the RTA will provide a match of $100,000. These match funds are included within local funds already approved as part of the project budget and the RTA’s adopted 5-year Capital Improvement Program (CIP). The budget code is 01-6100-00-1501-000-00-00-00000-00000.
NEXT STEPS:
Upon Board approval, staff will execute the CEA with the City of New Orleans.
ATTACHMENTS:
1. Resolution
2. CEA with the City of New Orleans
3. Exhibit A to the CEA - Notification from the State of Louisiana to the City of New Orleans regarding the State Funding
Prepared By: Rafe Rabalais
Title: Director of Capital Projects
Reviewed By: Dwight Norton
Title: Chief Planning and Capital Projects Officer
Reviewed By: Tracy Tyler
Title: Chief Legal Officer
Reviewed By: Gizelle Banks
Title: Chief Financial Officer
12/5/2024
Lona E. Hankins Date
Chief Executive Officer