Loading...
07 July 27, 2020 Western Riverside County Programs and Projects Comments are welcomed by the Commission. If you wish to provide comments to the Commission, please complete and submit a Speaker Card to the Clerk of the Board. MEETING AGENDA Western Riverside County Programs and Projects Committee Time: 1:30 p.m. Date: July 27, 2020 Pursuant to Governor Newsom’s Executive Order N-29-20, (March 18, 2020), the Governing Board meeting will only be conducted via video conferencing and by telephone. COMMITTEE MEMBERS Michael Vargas, Chair/Rita Rogers, City of Perris Clint Lorimore, Vice Chair /Todd Rigby, City of Eastvale Wes Speake/Jim Steiner, City of Corona Brian Berkson/Chris Barajas, City of Jurupa Valley Bill Zimmerman/Dean Deines, City of Menifee Yxstian Gutierrez/Carla Thornton, City of Moreno Valley Scott Vinton/Christi White, City of Murrieta Berwin Hanna/Ted Hoffman, City of Norco Andrew Kotyuk/Russ Utz, City of San Jacinto Ben J. Benoit/Joseph Morabito, City of Wildomar Kevin Jeffries, County of Riverside, District I Jeff Hewitt, County of Riverside, District V STAFF Anne Mayer, Executive Director John Standiford, Deputy Executive Director AREAS OF RESPONSIBILITY Air Quality, Capital Projects, Communications and Outreach Programs, Intermodal Programs, Motorist Services, New Corridors, Regional Agencies/Regional Planning, Regional Transportation Improvement Program (RTIP), Specific Transit Projects, State Transportation Improvement Program (STIP) Transportation Uniform Mitigation Fee (TUMF) Program, and Provide Policy Direction on Transportation Programs and Projects related to Western Riverside County and other areas as may be prescribed by the Commission. RIVERSIDE COUNTY TRANSPORTATION COMMISSION WESTERN RIVERSIDE COUNTY PROGRAMS AND PROJECTS COMMITTEE www.rctc.org AGENDA* *Actions may be taken on any item listed on the agenda 1:30 p.m. Monday, July 27, 2020 Pursuant to Governor Newsom’s Executive Order N-29-20, (March 18, 2020), the Western Riverside County Programs and Projects Committee meeting will only be conducted via video conferencing and by telephone. Please follow the instructions below to join the meeting remotely. INSTRUCTIONS FOR ELECTRONIC PARTICIPATION Join Zoom Meeting https://us02web.zoom.us/j/87578464483 Meeting ID: 875 7846 4483 One tap mobile +16699006833,,87578464483# US (San Jose) Dial by your location +1 669 900 6833 US (San Jose) Meeting ID: 875 7846 4483 For members of the public wishing to submit comment in connection with the Western Riverside County Programs and Projects Committee Meeting please email written comments to the Clerk of the Board at lmobley@rctc.org prior to July 26, 2020 at 5:00 p.m. and your comments will be made part of the official record of the proceedings and read into the record. Members of the public may also make public comments through their telephone or Zoom connection when recognized by the Chair. In compliance with the Brown Act and Government Code Section 54957.5, agenda materials distributed 72 hours prior to the meeting, which are public records relating to open session agenda items, will be available for inspection by members of the public prior to the meeting on the Commission’s website, www.rctc.org. In compliance with the Americans with Disabilities Act, Government Code Section 54954.2, Executive Order N- 29-20, and the Federal Transit Administration Title VI, please contact the Clerk of the Board at (951) 787-7141 if special assistance is needed to participate in a Committee meeting, including accessibility and translation services. Assistance is provided free of charge. Notification of at least 48 hours prior to the meeting time will assist staff in assuring reasonable arrangements can be made to provide assistance at the meeting. Western Riverside County Programs and Projects Committee July 27, 2020 Page 2 1. CALL TO ORDER 2. ROLL CALL 3. PUBLIC COMMENTS – Each individual speaker is limited to speak three (3) continuous minutes or less. The Committee may, either at the direction of the Chair or by majority vote of the Committee, waive this three minute time limitation. Depending on the number of items on the Agenda and the number of speakers, the Chair may, at his/her discretion, reduce the time of each speaker to two (2) continuous minutes. Also, the Committee may terminate public comments if such comments become repetitious. In addition, the maximum time for public comment for any individual item or topic is thirty (30) minutes. Speakers may not yield their time to others without the consent of the Chair. Any written documents to be distributed or presented to the Committee shall be submitted to the Clerk of the Board. This policy applies to Public Comments and comments on Agenda Items. 4. ADDITIONS/REVISIONS (The Committee may add an item to the Agenda after making a finding that there is a need to take immediate action on the item and that the item came to the attention of the Committee subsequent to the posting of the agenda. An action adding an item to the agenda requires 2/3 vote of the Committee. If there are less than 2/3 of the Committee members present, adding an item to the agenda requires a unanimous vote. Added items will be placed for discussion at the end of the agenda.) 5. APPROVAL OF MINUTES – FEBRUARY 24, 2020 6. AGREEMENT WITH BNSF RAILWAY COMPANY FOR RAIL SIGNAL DESIGN SERVICES FOR THE RIVERSIDE DOWNTOWN METROLINK STATION TRACK AND PLATFORM EXPANSION PROJECT Page 1 Overview This item is for the Committee to: 1) Approve Agreement No. 21-31-001-00, with BNSF Railway Company (BNSF) for rail signal design services for the Riverside Downtown Metrolink Station Track and Platform Expansion Project for a total amount not to exceed $150,000; 2) Authorize the Chair or Executive Director, pursuant to legal counsel review, to execute the agreement; and 3) Forward to the Commission for final action. Western Riverside County Programs and Projects Committee July 27, 2020 Page 3 7. 2020 STATE ROUTE 91 IMPLEMENTATION PLAN Page 7 Overview This item is for the Committee to: 1) Approve the 2020 State Route 91 Implementation Plan; and 2) Forward to the Commission for final action. 8. AWARD OF SR-91 CORRIDOR OPERATIONS PROJECT CONSTRUCTION AGREEMENT TO OHL USA Page 53 Overview This item is for the Committee to: 1) Pending final results of the Disadvantaged Business Enterprise (DBE) Good Faith Efforts review, award Agreement No. 20-31-069-00 to OHL USA to construct the SR-91 Corridor Operations Project (91 COP), in the amount of $18,886,963, plus a contingency amount of $1,888,696, supplemental work in the amount of $406,900, and an incentive payment in the amount of $472,500, for a total amount not to exceed $21,655,059; 2) Authorize the Chair or Executive Director, pursuant to legal counsel review, to finalize and execute the agreement on behalf of the Commission; 3) Authorize the Executive Director, or designee, to approve contingency work, supplemental work and incentive payments as may be required for the 91 COP; and 4) Forward to the Commission for final action. 9. COMMISSIONERS / STAFF REPORT Overview This item provides the opportunity for the Commissioners and staff to report on attended and upcoming meeting/conferences and issues related to Commission activities. 10. ADJOURNMENT The next Western Riverside County Programs and Projects Committee meeting is scheduled to be held at 1:30 p.m., Monday, August 24, 2020, Board Chambers, First Floor, County Administrative Center, 4080 Lemon Street, Riverside. AGENDA ITEM 5 MINUTES RIVERSIDE COUNTY TRANSPORTATION COMMISSION WESTERN RIVERSIDE COUNTY PROGRAMS AND PROJECTS COMMITTEE Monday, February 24, 2020 MINUTES 1. CALL TO ORDER/ ROLL CALL The meeting of the Western Riverside County Programs and Projects Committee was called to order by Chair Brian Berkson at 1:33 p.m., in the Board Room at the County of Riverside Administrative Center, 4080 Lemon Street, First Floor, Riverside, California, 92501. 2. ROLL CALL Members/Alternates Present Members Absent Ben Benoit* Bill Zimmerman Brian Berkson Berwin Hanna Jeff Hewitt Kevin Jeffries* Clint Lorimore Wes Speake Carla Thornton* Michael Vargas Scott Vinton Russ Utz *arrived after meeting was called to order 3. PLEDGE OF ALLEGIANCE At this time, Anne Mayer, Executive Director led the Western Riverside County Programs and Projects Committee in a flag salute. 4. PUBLIC COMMENTS There were no requests to speak. 5. ADDITIONS/REVISIONS There were no additions or revisions at this time. RCTC WRC Programs and Projects Committee Minutes February 24, 2020 Page 2 6. APPROVAL OF MINUTES – OCTOBER 28, 2019 M/S/C (Hanna/Utz) to approve the minutes as submitted. At this time, Commissioners Kevin Jeffries and Carla Thornton arrived. 7. AWARD OF: (1) DESIGN-BUILD CONTRACT; AND (2) AMENDMENT TO PROJECT AND CONSTRUCTION MANAGEMENT SERVICES AGREEMENT FOR THE INTERSTATE 15/STATE ROUTE 91 EXPRESS LANES CONNECTOR PROJECT David Thomas, Toll Project Manager, presented the scope of the agreement for the design-build contract and the amendment to project and construction management services agreement for the 15/91 Express Lanes Connector project. In response to Commissioner Wes Speake’s question regarding current projects, Anne Mayer explained this project will not delay any of the other projects in the corridor and will help alleviate the local traffic through Corona. Mr. Thomas discussed the sunset limit for the SB 132 funds in relation to this project, the difference in price between the bids, and why the Commission will not be going out for rebid. Mr. Thomas explained for Commissioner Berkson, the additional work being done in preparation of accepting the new bridge and the additional work being done near McKinley. M/S/C (Vinton/Hanna) to: 1) Award Agreement No. 19-31-074-00 to Myers-Rados, a Joint Venture (Myers-Rados JV) as the design-build contractor to design and construct the Interstate 15/State Route 91 Express Lanes Connector project (15/91 ELC) in the amount of $164,840,000, plus a contingency amount of $10,487,000, for a total amount not to exceed $175,327,000; 2) Approve Agreement No. 15-31-001-07, Amendment No. 7 to Agreement No. 15-31-001-00, with Parsons Transportation Group (Parsons) to provide project and construction management services for the proposed 15/91 ELC in the amount of $14,825,000, plus a contingency amount of $1,482,000, for a total amount not to exceed $16,307,000, and extend the term to June 30, 2024; 3) Authorize the Chair or the Executive Director, pursuant to legal counsel review, to finalize and execute the agreements on behalf of the Commission; 4) Authorize the Executive Director or designee to approve contingency work up to the total amounts as required for the project; and RCTC WRC Programs and Projects Committee Minutes February 24, 2020 Page 3 5) Forward to the Commission for final action. No: Speake 8. Award of Interstate 15/Railroad Canyon Road Interchange Project Construction Agreement to Riverside Construction Company Bryce Johnston, Capital Projects Manager, presented the scope of the agreement for the 15/Railroad Canyon Road Interchange project construction. Anne Mayer clarified for Commissioner Lorimore that Pechanga was the only tribe interested in monitoring the project and that if any other tribes come forward, another agreement will have to be entered into. Ms. Mayer added that plans are being uploaded to PlanetBids before the plans are final so contractors have more time to work on their bids and there has been an increase in bids received to the Commission since it started this practice. Commissioner Speake commented on the amount of bids the Commission received. Ms. Mayer responded that the larger and more complex the project, the fewer bids the Commission receives. M/S/C (Vargas/Hanna) to: 1) Award Agreement No. 20-31-034-00 to Riverside Construction Company to construct the Interstate 15/Railroad Canyon Road Interchange Project (Project), in the amount of $27,698,589, plus a contingency amount of $2,769,859, for potential change orders and supplemental work in the amount of $910,000 during construction, for a total amount not to exceed $31,378,448; 2) Approve Agreement No. 20-31-046-00 with the Pechanga Band of Luiseño Indians (Pechanga) for an amount not to exceed $100,000 for Native American monitoring services during construction of the Project; 3) Authorize the Chair or Executive Director, pursuant to legal counsel review, to finalize and execute the agreements on behalf of the Commission; 4) Authorize the Executive Director, or designee, to approve contingency work as may be required for the Project; and 5) Forward to the Commission for final action. At this time, Commissioner Ben Benoit arrived. RCTC WRC Programs and Projects Committee Minutes February 24, 2020 Page 4 9. AMENDMENT TO AGREEMENT WITH T.Y. LIN INTERNATIONAL FOR FINAL DESIGN SERVICES RELATED TO THE MID COUNTY PARKWAY INTERSTATE 215/PLACENTIA AVENUE INTERCHANGE IMPROVEMENT PROJECT AND AGREEMENT FOR CONSTRUCTION ZONE ENFORCEMENT ENHANCEMENT PROGRAM SERVICES FOR THE PROJECT Mark Lancaster, Capital Projects Manager, presented the scope of the amendment to agreement with T.Y. Lin International for final design services related to the Mid County Parkway Interstate 215/Placentia Avenue interchange improvement project and agreement for construction zone enforcement enhancement program services for the project. Mr. Lancaster clarified for Commissioner Vinton that initially the details of the drainage were not looked at. During the design phase, the Commission discovered that there is a master floodplain line that runs through the whole interchange and Mid County Parkway project. RCTC then had to do extraordinary analysis, a hydrology report, and a hydraulics report in order to ensure that the hydraulics worked and the water did not come out of the conveyance or the pipes. RCTC had to make sure we have positive drainage to the Perris Valley Pipeline. Ms. Mayer added that Riverside County Flood Control master plan was done after the Mid County Project was awarded. This section of the 215 is subject to flood waters so it is a unique situation. M/S/C (Hanna/Utz) to: 1) Approve Agreement No. 16-31-066-04, Amendment No. 4 to Agreement No. 16-31-066-00, with T.Y. Lin International (T.Y. Lin) to complete final design services and prepare the Interstate 215/Placentia Avenue interchange improvement (I-215/Placentia Avenue) project for advertising and award, in the amount of $386,663, plus a contingency amount of $38,666, for an additional amount of $425,329, and a total amount not to exceed $5,171,185; 2) Approve Agreement No. 20-31-051-00 with the California Highway Patrol (CHP) for Construction Zone Enforcement Enhancement Program (COZEEP) services in an amount not to exceed $279,900; 3) Authorize the Chair or Executive Director, pursuant to legal counsel review, to finalize and execute the agreements on behalf of the Commission; 4) Authorize the Executive Director or designee to approve the use of the contingency amount as may be required for the project; and 5) Forward to the Commission for final action. RCTC WRC Programs and Projects Committee Minutes February 24, 2020 Page 5 10. AMENDMENT TO AGREEMENT FOR CALIFORNIA HIGHWAY PATROL CONSTRUCTION ZONE ENHANCEMENT ENFORCEMENT PROGRAM SERVICES DURING THE CONSTRUCTION OF THE STATE ROUTE 60 TRUCK LANES PROJECT Bryce Johnston, Capital Projects Manager, presented the details of amendment for CHP construction zone enhancement enforcement program services during the construction of the SR-60 Truck Lanes project. M/S/C (Vargas/Utz) to: 1) Approve Agreement No. 19-31-038-01, Amendment No. 1 to Agreement No. 19-31-038-00, with the California Highway Patrol (CHP) for Construction Zone Enhanced Enforcement Program (COZEEP) services during the construction of the State Route 60 Truck Lanes project (Project) in the amount of $350,000, plus a contingency amount of $100,000, for an additional amount of $450,000, and a total amount not to exceed $1,490,070; 2) Authorize the Chair or Executive Director, pursuant to legal counsel review, to execute the agreement on behalf of the Commission; 3) Authorize the Executive Director, or designee, to approve contingency work as may be required for the agreement; and 4) Forward to the Commission for final action. 11. ELECTION OF OFFICERS FOR THE WESTERN RIVERSIDE COUNTY PROGRAMS AND PROJECTS COMMITTEE Lisa Mobley, Clerk of the Board, stated this item is for the Western Riverside County Programs and Projects Committee to conduct an election of the officers for 2020. At this time, Chair Berkson opened nominations for the Chair position. Commissioner Wes Speake, seconded by Commissioner Ben Benoit, nominated Vice Chair Michael Vargas for the Chair position for 2020. No other nominations were received. The Chair closed the nominations. Michael Vargas was elected as the Western Riverside County Programs and Projects Committee’s Chair for 2020. The Chair then opened nominations for the Vice Chair position for 2020. Commissioner Berwin Hanna, seconded by Commissioner Scott Vinton, nominated Commissioner Clint Lorimore for the Vice Chair position for 2020. No other nominations were received. The Chair closed the nominations. Commissioner Clint Lorimore was elected as the Western Riverside County Programs and Projects Committee’s Vice Chair for 2020. RCTC WRC Programs and Projects Committee Minutes February 24, 2020 Page 6 12. COMMISSIONERS / STAFF REPORT 12A. Commissioner Benoit requested he be able to add his yes vote on Agenda Items 7 and 8. 12B. Anne Mayer announced the Budget & Implementation update on refinancing proposal is going to be on the March 11 Commission agenda. 13. ADJOURNMENT There being no further business for consideration by the Western Riverside County Programs and Projects Committee, the meeting was adjourned at 2:22 p.m. Respectfully submitted, Lisa Mobley Clerk of the Board AGENDA ITEM 6 Agenda Item 6 RIVERSIDE COUNTY TRANSPORTATION COMMISSION DATE: July 27, 2020 TO: Western Riverside County Programs and Projects Committee FROM: David Lewis, Capital Projects Manager THROUGH: Marlin Feenstra, Project Delivery Director SUBJECT: Agreement with BNSF Railway Company for Rail Signal Design Services for the Riverside Downtown Metrolink Station Track and Platform Expansion Project STAFF RECOMMENDATION: This item is for the Committee to: 1)Approve Agreement No. 21-31-001-00, with BNSF Railway Company (BNSF) for rail signal design services for the Riverside Downtown Metrolink Station Track and Platform Expansion Project for a total amount not to exceed $150,000; 2)Authorize the Chair or Executive Director, pursuant to legal counsel review, to execute the agreement; and 3)Forward to the Commission for final action. BACKGROUND INFORMATION: The Commission is currently in the design and environmental phase for additional tracks, pedestrian overcrossing extension, new passenger loading platform, and a new parking lot on the east side of the Riverside-Downtown Metrolink Station (Figure 1). The Commission approved a memorandum of understanding with Metrolink to provide Southern California Optimized Rail Expansion funds for the project at its June 2019 meeting. 1 Agenda Item 6 Figure 1 Riverside Downtown Metrolink Station Track and Platform Expansion Project The additional tracks, switching for the tracks and the required signalization will be controlled by BNSF, and therefore BNSF must provide the design services for this work. Staff, working in conjunction with Metrolink and HNTB, the designer, has developed a concept for these additional tracks, switching for the tracks and the required signalization. BNSF has concurred with this concept and has given staff the following cost estimate to complete design services. Signal Design $ 113,000 Contingency (10%) 11,300 Sub Total 124,300 Miscellaneous Flagging 25,700 Total $ 150,000 BNSF has committed to complete design within six months after given a notice to proceed. Staff concurs with the above BNSF cost estimate and recommends approval of Agreement No. 21-31-001-00, with BNSF for rail signal design services for the Riverside Downtown Metrolink Station Track and Platform Expansion Project for a total amount not to exceed $150,000. Staff also recommends authorization for the Chair or Executive Director, pursuant to legal counsel review, to execute the agreement. 2 Agenda Item 6 Financial Information In Fiscal Year Budget: Yes Year: FY 2020/21 Amount: $150,000 Source of Funds: Federal Transit Administration Budget Adjustment: No GL/Project Accounting No.: 004027 81402 00000 0000 265 33 81402 Fiscal Procedures Approved: Date: 07/14/2020 Attachment: Draft Agreement No. 21-31-001-00 3 REIMBURSEMENT AGREEMENT Page 1 of 3 June, 2020 17336.00600\33022560.1 REIMBURSEMENT AGREEMENT BNSF File #: BF___________ LS 7602 MP 10.0 San Bernardino Subdivision Riverside Downtown Metrolink Station Expansion Project Riverside, Riverside County, CA. Agreement No. ____________ This Reimbursement Agreement (“Agreement”) is entered into effective as of ____________2020, by and between RIVERSIDE COUNTY TRANSPORTATION COMMISSION (“RCTC”), a political subdivision of the State of California, and BNSF RAILWAY COMPANY (“BNSF”). RECITALS A. WHEREAS, BNSF operates a freight transportation system by rail with operations throughout the United States and Canada; and B. WHEREAS, RCTC desires that the below described improvements be constructed at the location(s) referenced in Recital D, adjacent to BNSF’s Rail Corridor; and C. WHEREAS, it is the policy of BNSF, as owner of the Rail Corridor, to check the plans and specifications of adjacent rail projects that make modifications to BNSF’s Rail Corridor: and D. WHEREAS, RCTC has adopted a project (“Riverside-Downtown Metrolink Station Track & Platform Expansion Project”) which adds an additional platform, extends the existing pedestrian bridge and adds an additional elevator, and adds two new station tracks adjacent to the BNSF’s Rail Corridor, at MP 10.0, LS 7602; and H. WHEREAS, RCTC is obligated to reimburse BNSF for all of the costs incurred by BNSF under any agreement between BNSF and RCTC and for the cost for the BNSF Signal team to complete the Signal design 0- 100%, and provide flagging for said project. NOW, THEREFORE, in consideration of the terms, conditions, covenants and performances contained herein, or attached and incorporated and made a part hereof, IT IS MUTUALLY AGREED AS FOLLOWS: SECTION 1. SCOPE OF SERVICES BNSF will provide all the work, labor, and services for the BNSF Signal team to complete the Signal design 0-100%, and for flagging services for the project described below: Riverside-Downtown Metrolink Station Track & Platform Expansion Project , Approximate BNSF MP 10.0, in Riverside, CA, Adds an additional platform, extends the existing pedestrian bridge and adds a new elevator, and adds two new station tracks adjacent to the BNSF’s Rail Corridor. 4 REIMBURSEMENT AGREEMENT Page 2 of 3 June, 2020 17336.00600\33022560.1 The estimate for the Signal team to complete the design 0-100% is shown below. Design time line is normally 6 months. Signal Design 0-100% - $113,000.00 Contingency 10% - $ 11,300.00 Sub Total - $124,300.00 Misc Flagging - $25,700.00 Total - $150,000.00 SECTION 2. AUTHORITY TO BEGIN WORK BNSF agrees not to commence work until receipt of notice to begin work in writing by RCTC, and that reimbursement will be limited to those costs incurred subsequent to the date of such notification. SECTION 3. PAYMENT OF FEES RCTC, in consideration of the faithful performance of the work to be done by BNSF, agrees to pay BNSF actual direct and related indirect costs accumulated in accordance with a work order accounting procedure as prescribed and approved by the ICC Uniform System of Accounts, or its equivalent, for work described in Section 1, SCOPE OF SERVICES above, with the total cost estimated to be $150,000.00. Following the execution of the Agreement and written authorization to proceed with the SCOPE OF SERVICES, progress billings may be submitted to RCTC to cover costs incurred and RCTC shall pay such progress billings promptly upon receipt. Progress bills are not to be submitted more frequently that one (1) per month. Final and detailed billing for all incurred costs associated with this work shall be made by BNSF and furnished to RCTC within one (1) year of project completion, and RCTC shall pay all eligible amounts of such bill, less progress payments previously made, within sixty (60) days of final billing. The parties agree that payment of any billing will not constitute agreement as to the appropriateness of any item and that at the time of final audit all required adjustments will be made and reflected in a final payment by either party. In the event that such final audit reveals an overpayment to BNSF, BNSF agrees to refund such overpayment to RCTC within 60 days of agreement to audit findings. During the progress of the work and for a period not less than three (3) years from the date of the final BNSF invoice under this Agreement, the records and accounts pertaining to the work of the project and accounting therefor shall be maintained by BNSF and made available for inspection and audit by RCTC and/or Federal Government, and copies of all records, accounts, documents, or other data pertaining to the project shall be furnished by BNSF upon request. If any litigation, claim, or audit is commenced, the records and accounts along with supporting documentation shall be retained until all dispute, litigation, claim or audit finding has been resolved even though such dispute, litigation, claim or audit continues past the three (3) year retention period. No liability shall attach to RCTC or BNSF by reason of entering into this Agreement except as expressly provided herein. This Agreement shall be governed by and construed in accordance with the laws of the State of California, excluding its conflict of laws principles. In the event of litigation arising out of or relating to this Agreement, the parties hereto consent to the exclusive jurisdiction and venue of the state courts of and federal courts in Riverside County, California, and to service of process by any means authorized by California law. 5 REIMBURSEMENT AGREEMENT Page 3 of 3 June, 2020 17336.00600\33022560.1 A manually signed copy of this Agreement which is transmitted by facsimile, email or other means of electronic transmission shall be deemed to have the same legal effect as delivery of an original executed copy of this Agreement for all purposes. This Agreement may be signed using an electronic signature. This Agreement may be signed in counterparts, each of which shall constitute an original. IN WITNESS WHEREOF, the parties hereto have caused this Reimbursement Agreement to be executed as of the day and year first written above. BNSF RAILWAY COMPANY By: ____________________________________________ Printed Name: Kate Kalinoskey Title: Manager Public Projects RIVERSIDE COUNTY TRANSPORTATION COMMISSION By: _____________________________________________ Anne Mayer, Executive Director APPROVED AS TO FORM: By:__________________________________________ Best Best & Krieger LLP Counsel to the Riverside County Transportation Commission 6 AGREEMENT WITH BNSF RAILWAY FOR RAIL SIGNAL DESIGN SERVICES Western Riverside County Programs and Projects Committee July 27, 2020 David Lewis, Capital Projects Manager 1 Project Location 2 Project Location 3 QUESTIONS 4 AGENDA ITEM 7 Agenda Item 7 RIVERSIDE COUNTY TRANSPORTATION COMMISSION DATE: July 27, 2020 TO: Western Riverside County Programs and Projects Committee FROM: David Thomas, Toll Project Manager THROUGH: Anne Mayer, Executive Director SUBJECT: 2020 State Route 91 Implementation Plan STAFF RECOMMENDATION: This item is for the Committee to: 1) Approve the 2020 State Route 91 Implementation Plan; and 2) Forward to the Commission for final action. BACKGROUND INFORMATION: In 2002, AB 1010 authored by former Assemblyman Lou Correa allowed the Orange County Transportation Authority (OCTA) to purchase the 91 Express Lanes franchise from the California Private Transportation Company. OCTA completed the purchase agreement in January 2003, at a cost of $207.5 million. AB 1010 also eliminated the existing non-compete clause in the franchise agreement that prohibited any capacity-enhancing improvements from being made to SR-91 until the year 2030. The purchase of the 91 Express Lanes and the elimination of the non- compete clause allowed much needed improvements to be planned and implemented within the SR-91 corridor. Caltrans Districts 8 and 12, the Commission, and OCTA have been coordinating these improvements. In 2008, SB 1316’s passage authorized an extension of OCTA’s tolling authority to 2065 and for the Commission to impose tolls and fees for 50 years on transportation facilities and to use toll revenues to construct, operate, and maintain toll facilities on SR-91 in Riverside County. SB 1316 also required the creation of the State Route 91 Advisory Committee with specific responsibilities composed of board members from the Commission and OCTA. SB 1316 also required the continuation of annual updates of an implementation plan of SR-91 improvements for the Legislature initially required under AB 1010. Consistent with the legislation, OCTA and the Commission in consultation with Caltrans completed the 2020 State Route 91 Implementation Plan (attached). The plan details proposed projects and completion schedules for transportation improvements to Metrolink, express bus, express lanes, freeways and interchanges, new east-west highway corridors, and high-speed rail. 7 Agenda Item 7 SB 1316 grants the Commission the authority to expend tolls and fees on capital costs, operations and maintenance, repair and rehabilitation, debt financing costs, and administration. Any tolls and fees generated in excess of the expenditure needs (i.e., surplus) previously listed may be spent on transportation needs within the State Route 91 corridor from the Orange County line to Interstate 15. These transportation needs include transit capital, transit operations, and State Highway capital improvements for both toll and non-tolled improvements. As part of its annual budget approval process, the Commission approved the use of tolls and fees generated from its 91 Express Lanes operations designated as surplus for various projects. Lastly, staff posted on the Commission’s web site the SR-91 Implementation Plan for public review and comment on May 26, 2020 for 30 days per SB 1316. Attachment: 2020 State Route 91 Implementation Plan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¶V XSGDWHLQFOXGHVFRQFHSWV WKDWZHUH LGHQWLILHGLQWKH  5LYHUVLGH &RXQW\±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¶VLQLWLDOSKDVHLQVSULQJWKHUH DUHQRZ DSSUR[LPDWHO\  PLOHV RI ([SUHVV /DQHV EHWZHHQ2UDQJH DQG 5LYHUVLGH FRXQWLHV 2&7$ DQG 5&7&KDYHDGRSWHGJRDOVIRUWKH([SUHVV/DQHV WR FRQWLQXHWRPDLQWDLQDVDIHUHOLDEOHDQGSUHGLFWDEOH WUDYHO WLPH IRUH[SUHVV ODQH XVHUVWUDYHUVLQJ VHDPOHVVO\ EHWZHHQ WKH WZR FRXQWLHV7KH JRDOV EHORZ WDNH LQWR FRQVLGHUDWLRQWKH([SUHVV/DQHVDVZHOODVWKH65 FRUULGRUDWODUJH7KHVHJXLGLQJSULQFLSOHVLQFOXGH x RSWLPL]LQJ YHKLFOHWKURXJKSXWDW IUHHIORZVSHHGV x LQFUHDVLQJ DYHUDJHYHKLFOHRFFXSDQF\ x EDODQFLQJ FDSDFLW\ DQG GHPDQG WR VHUYH FXVWRPHUVZKRSD\WROOVDVZHOODVFDUSRROHUV  ZKRDUHRIIHUHGGLVFRXQWHGWROOV x SD\LQJ GHEWVHUYLFHDQGPDLQWDLQLQJ GHEWVHUYLFH FRYHUDJH x JHQHUDWLQJ VXIILFLHQW UHYHQXH WR VXVWDLQ WKH ILQDQFLDOYLDELOLW\RIWKH([SUHVV/DQHVDQG x ZKHQ DSSURSULDWH UHLQYHVWLQJQHW UHYHQXHVRQ WKH65FRUULGRUWRLPSURYHUHJLRQDOPRELOLW\ 0XFK SURJUHVV KDV EHHQ PDGH VLQFH WKH LQLWLDO  65 ,PSOHPHQWDWLRQ 3ODQ ZDV DSSURYHG7KH 3ODQ LQFOXGHV VHOHFW FRPSOHWHG SURMHFW H[KLELWV DV D KLVWRULFDOUHIHUHQFH VHH$SSHQGL[%  &RPSOHWHG&RQVWUXFWLRQ,PSURYHPHQW3URMHFWV 7KH IROORZLQJ LPSURYHPHQWV KDYH EHHQ FRQVWUXFWHG RU LPSOHPHQWHG ™5HSDYHG DQGVHDOHG SDYHPHQWVXUIDFHVUHVWULSHG DQGUHSODFHG UDLVHGFKDQQHOL]HUVRQWKH ([SUHVV /DQHV ™2Q(%65WKHURDGZD\ZDVUHVWULSHGDQG WKH PHGLDQ EDUULHUZDV UHFRQVWUXFWHG 7KLV SURMHFW UHPRYHG WKH &+3 HQIRUFHPHQW DUHD DQG H[WHQGHG WKH (%DX[LOLDU\ ODQH IURP 65WR WKH 6HUIDV&OXE'ULYHRIIUDPS ™7KH:% DX[LOLDU\ ODQHZDV H[WHQGHG EHWZHHQ WKH &RXQW\OLQHDQG657KLVSURMHFWHOLPLQDWHGWKH ODQHGURSDWWKH([SUHVV/DQHVDQGH[WHQGHGWKH H[LVWLQJDX[LOLDU\ODQHIURPWKH&RXQW\OLQHWR65 LQ WKH ZHVWERXQG GLUHFWLRQ  7KLV LPSURYHPHQW PLQLPL]HG WKH WUDIILF GHOD\V DW WKH ODQH GURS DUHD UHVXOWLQJLQLPSURYHGYHKLFOHSURJUHVVLRQ ™2Q :%65WKHURDGZD\ZDVUHVWULSHG WRH[WHQG WKHDX[LOLDU\ODQHEHWZHHQ65DQGWKH&RXQW\OLQH 7KLV UHVXOWHG LQ D QHZFRQWLQXRXV ODQH EHWZHHQ 65DQG65 ™6DIHW\,PSURYHPHQWVZHUHFRQVWUXFWHGDWWKH7UXFN 6FDOHV([LVWLQJVKRXOGHUVZHUHLPSURYHGODQHVZHUH UHVWULSHGLOOXPLQDWLRQ LPSURYHG DQG VLJQDJH ZDV PRGLILHGLQWRDQGRXWRIWKH(%IDFLOLWLHV ™*UHHQ 5LYHU 5RDG RYHUFURVVLQJ UHSODFHPHQW VHH $SSHQGL[%  ™0HWUROLQNSDUNLQJVWUXFWXUHDWWKH1RUWK0DLQ6WUHHW &RURQD0HWUROLQN6WDWLRQ VHH$SSHQGL[%  ™(%65ODQHDGGLWLRQIURP65WR65 VHH $SSHQGL[%  ™$GGLWLRQDO65:% DQG(%WUDYHO ODQH EHWZHHQ 65DQG 65 VHH$SSHQGL[%  ™65:%E\SDVVODQHWR7XVWLQ$YHQXHDW 65 VHH$SSHQGL[%  ™0HWUROLQN6HUYLFH,PSURYHPHQWV VHH$SSHQGL[%  ™,QLWLDO65&RUULGRU,PSURYHPHQW3URMHFW &,3 VHH $SSHQGL[%  ™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™0,6±)LQDO3URMHFW5HSRUW/RFDOO\3UHIHUUHG6WUDWHJ\ 5HSRUW -DQXDU\  ™5HQHZHG0HDVXUH07UDQVSRUWDWLRQ,QYHVWPHQW3ODQ 1RYHPEHU  ™5&7& <HDU :HVWHUQ &RXQW\ +LJKZD\ 'HOLYHU\ 3ODQ 'HFHPEHU  ™65)DLUPRQW %RXOHYDUG )HDVLELOLW\ 6WXG\ 'HFHPEHU  ™&RUULGRU6\VWHP0DQDJHPHQW3ODQ &603 2UDQJH &RXQW\65&RUULGRU)LQDO5HSRUW $XJXVW  ™5HQHZHG 0HDVXUH 0 (DUO\ $FWLRQ 3ODQ DSSURYHG $XJXVW  DQG VXEVHTXHQWO\ UHQDPHG DV WKH &DSLWDO$FWLRQ3ODQ $SULO  ™3653'6 IRU 65657ROOHG ([SUHVV /DQHV &RQQHFWRU -DQXDU\  ™3URMHFW 5HSRUW  (QYLURQPHQWDO 'RFXPHQW IRU  &RUULGRU,PSURYHPHQW 3URMHFW 2FWREHU  ™3653'6 RQ 65 EHWZHHQ 65 DQG 65 2FWREHU  ™6565,QWHUFKDQJH (QYLURQPHQWDO 3KDVH  DQG)LQDO'HVLJQ   ™1H[W 'HOLYHU\3ODQ DSSURYHG E\ 2&7$ %RDUG 6HSWHPEHU   ™3URMHFW5HSRUW (QYLURQPHQWDO'RFXPHQWIRU ([SUHVV/DQHV&RQQHFWRU -XQH ™3URMHFW 5HSRUW  (QYLURQPHQWDO 'RFXPHQW IRU  &RUULGRU2SHUDWLRQV3URMHFW $SULO ™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™+HDY\WUDIILFYROXPHVWRIURP,FRQYHUJHZLWK WKH 65DQG LQFUHDVH GHOD\ GXULQJ WKHPRUQLQJ DQG HYHQLQJSHDNKRXUV ™65 WUDIILF GHPDQG DV ZHOO DV SK\VLFDO DQG RSHUDWLRQDOFRQVWUDLQWVIRUWKH(%65WR1%65 FRQQHFWRU FRQWULEXWH WR PDLQOLQHDQG (% 65 FRUULGRUGHOD\V ™7UDIILFHQWHULQJWKH:%65IURPWKH*UHHQ5LYHU 5RDG DQG 65 RQUDPSV FRQWULEXWH WRPDLQOLQH FRQJHVWLRQGXULQJWKH $0SHDNSHULRG ™+LJK WUDIILF YROXPHVHQWHULQJ WKH IUHHZD\IURP *\SVXP &DQ\RQ 5RDG6DQWD $QD &DQ\RQ 5RDG *UHHQ 5LYHU 5RDG:HLU &DQ\RQ 5RDG ,PSHULDO +LJKZD\ DQG/DNHYLHZ $YHQXHFRQWULEXWH WR FRQJHVWLRQRQWKH65PDLQOLQH ™2QHRIWKHWZR ODQHVIURPWKH(DVWHUQ7UDQVSRUWDWLRQ &RUULGRU 6WDWH5RXWH FRQQHFWRU LV GURSSHGDW WKHPHUJH WR(%65FDXVLQJDGGLWLRQDOFRQJHVWLRQ RQWKH(%65JHQHUDOSXUSRVHODQHV ™$WWKH1%65LQWHUFKDQJH ZLWK(%65D ODQH RQ 65 LV GURSSHG DV D GHGLFDWHG H[LW DW /DNHYLHZ$YHQXH DQGDVHFRQG ODQHLVGURSSHG DVD GHGLFDWHGH[LW DW,PSHULDO+LJKZD\FUHDWLQJDZHDYH FRQGLWLRQ ™:%65GURSVWZR *3ODQHV DQGD([SUHVV /DQH WR 6% 65 FRQWULEXWLQJ WR PDLQOLQH FRQJHVWLRQ7KLVGURSDOVRRFFXUVRQWKHOHIWKDQG VLGHRI65FUHDWLQJDZHDYLQJFRQGLWLRQ ™:%WUDIILF HQWHULQJ 65 DW /DNHYLHZ $YHQXH WUDYHOLQJ WR 6% 65 FRQWULEXWHV WR PDLQOLQH FRQJHVWLRQ E\ZHDYLQJDFURVV WKUHH ODQHVRQ 65 7KHH[LVWLQJWZRODQH FRQQHFWRUIURP:%65WR 6%65WUDIILFYROXPHH[FHHGVRSHUDWLRQDOFDSDFLW\ FDXVLQJDTXHXH RQWKH65PDLQOLQH ™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™([SUHVV /DQHV&RQQHFWRU ™65&RUULGRU2SHUDWLRQV 3URMHFW ™6565,QWHUFKDQJH,PSURYHPHQWV ™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™7KH2UDQJH&RXQW\ SURMHFWV KDYH D WRWDO FRVWRI DSSUR[LPDWHO\PLOOLRQ7KHSURMHFWVLQFOXGH WKH 65 LPSURYHPHQWVEHWZHHQ 65DQG 65 $QDKHLP &DQ\RQ0HWUROLQNVWDWLRQ LPSURYHPHQWV 3ODFHQWLD0HWUROLQNUDLOVWDWLRQDQG)DLUPRQW %RXOHYDUGLPSURYHPHQWV 7DEOH²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±  ,UYLQH&RURQD([SUHVVZD\ ,&( /DQH)DFLOLW\IURP65 65WR,&DMDOFR5RDG  :HVWERXQG 65WR6RXWKERXQG 65,PSURYHPHQWV ± (DVWERXQG 65)LIWK/DQH$GGLWLRQDW65 68%727$/²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™7KH 5LYHUVLGH&RXQW\SURMHFWV KDYH DWRWDOFRVWRI RYHU PLOOLRQ  7KH LPSURYHPHQWVLQFOXGHD  ([SUHVV /DQHV &RQQHFWRU WKH6565 ,QWHUFKDQJH ,PSURYHPHQWVDQG WKH 65 LPSURYHPHQWVHDVWRI , ™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™65 ,PSURYHPHQWVEHWZHHQ 65 DQG 65 ™([SUHVV/DQHV&RQQHFWRU ™6565,QWHUFKDQJH,PSURYHPHQWV ™65&RUULGRU2SHUDWLRQV3URMHFW ™65657ROOHG ([SUHVV /DQHV &RQQHFWRU <HDU ™3URMHFWVFRPSOHWHGLQ ™65,PSURYHPHQWV(DVWRI, ™656L[WK *HQHUDO3XUSRVH/DQH $GGLWLRQ ™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±:HVWERXQG65IURP 65WR,$03HDN3HULRG &RUULGRU9HKLFOH+RXUVRI 'HOD\ 18 65,03/(0(17$7,213/$1  )LJXUH±:HVWERXQG65IURP65WR,$03HDN3HULRG 6\VWHPZLGH6HUYHG9HKLFOHV 19 65,03/(0(17$7,213/$1  )LJXUH±(DVWERXQG 65IURP65WR,$03HDN 3HULRG &RUULGRU9HKLFOH+RXUVRI'HOD\ )LJXUH±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™*HRORJLFK\GURJHRORJLFK\GURORJLF DQG JHRWHFKQLFDOFRQGLWLRQV ™&RUULGRUFRQFHSWV IXOO WXQQHO DQG SDUWLDO WXQQHOSDUWLDOVXUIDFHURDG  ™7XQQHOFRQILJXUDWLRQ ™7XQQHOH[FDYDWLRQDQGVXSSRUWPHWKRGV ™7XQQHOV\VWHPV HJYHQWLODWLRQHPHUJHQF\ILUH V\VWHPRSHUDWLRQEXLOGLQJWROO V\VWHPHWF  ™&RQVWUXFWLRQFRQVLGHUDWLRQV ™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¶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™&RQFHSWXDO (QJLQHHULQJ  3UH3URMHFW 6WXG\ 5HSRUW 3UH365 ²&RQFHSWXDOSODQQLQJ DQG HQJLQHHULQJIRU SURMHFWVFRSLQJDQGIHDVLELOLW\SULRUWR LQLWLDWLQJWKH365SKDVH ™3UHOLPLQDU\ (QJLQHHULQJ  3URMHFW 6WXG\ 5HSRUW 365 ²&RQFHSWXDOSODQQLQJDQGHQJLQHHULQJSKDVH WKDWDOORZVIRUSURJUDPPLQJRIIXQGV ™(QYLURQPHQWDO 3URMHFW$SSURYDO(QYLURQPHQWDO 'RFXPHQW 3$(' ²7KHGHWDLOHGFRQFHSWGHVLJQ WKDWSURYLGHVHQYLURQPHQWDOFOHDUDQFH IRUWKHSURMHFW DQG SURJUDPV IRU ILQDO GHVLJQ DQG ULJKWRI ZD\ DFTXLVLWLRQ7KHGXUDWLRQIRUWKLVSKDVHLV W\SLFDOO\ \HDUV ™'HVLJQ 3ODQV 6SHFLILFDWLRQV DQG (VWLPDWHV 36 ( ²3URYLGHGHWDLOHGGHVLJQ WRFRQWUDFWRUVIRU FRQVWUXFWLRQELGGLQJDQGLPSOHPHQWDWLRQ ™&RQVWUXFWLRQ 7KH SURMHFW KDV FRPSOHWHG FRQVWUXFWLRQ DQG ZLOO SURYLGH FRQJHVWLRQ UHOLHI WR PRWRULVWV )LJXUH±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¶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¶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¶ DSSURYDO RI WKLV SURMHFW 7KH SURMHFW ZLOO UHTXLUH ZLGHQLQJRI65WRDFFRPPRGDWHWKHGLUHFWFRQQHFWRUDQG DVVRFLDWHG ([SUHVV $X[LOLDU\ /DQHV LQ WKH PHGLDQ 7KH SURMHFW¶V SODQQHG FRQVWUXFWLRQ LV DOLJQHG ZLWK WKH LPSOHPHQWDWLRQ RI RWKHU SODQQHG LPSURYHPHQWVLQWKH DUHD LQFOXGLQJWKH([SUHVV/DQHV&RQQHFWRU65&RUULGRU 2SHUDWLRQV 3URMHFW DQG6565 ,QWHUFKDQJH ,PSURYHPHQWV &RRUGLQDWLRQZLOO EH FRQGXFWHG ZLWK ORFDO DJHQFLHV WR HQVXUH WKH SURMHFW DYRLGV LPSDFWV WR SODQQHG ELF\FOHDQGWUDLOFRQQHFWLRQVRQ*\SVXP&DQ\RQ5RDGSHUWKH &LW\RI$QDKHLP*HQHUDO3ODQDQG2&7$&RPPXWHU%LNHZD \V 6WUDWHJLF3ODQ %HQHILWV 7KHSURMHFWZLOOSURYLGHFRQQHFWLYLW\EHWZHHQ WKH([SUHVV /DQHV DQG WKH 65  7ROO 5RDG ZKLFK ZLOO HQKDQFH DSSUR[LPDWHO\ RSHQLQJLQ7KHWRWDOFRVWRIWKH3URMHFWZRXOGEH DSSUR[LPDWHO\PRQWKVEHJLQQLQJLQZLWKSURMHFW FRPSOHWHGLQ&RQVWUXFWLRQLVDQWLFLSDWHG WR ODVW WKHPXOWLDJHQF\WHDP)LQDO'HVLJQ LVH[SHFWHG WREH GHOLYHU\DQGRSHUDWLRQRIWKHSURMHFWDUHXQGHUGHYHORSPHQWE\ $JUHHPHQWVWRGRFXPHQWUROHVDQGUHVSRQVLELOLWLHVIRUIXQGLQJ 6FKHGXOHDQG&RVW FRPSOHWHGLQ $SULO  DSSURYDO RIWKHSURMHFWZLWKWKH5HFRUGRI'HFLVLRQZDV VLJQHGE\&DOWUDQVDQGFLUFXODWHGIRUSXEOLFUHYLHZ&DOWUDQV -DQXDU\7KH)LQDO(QYLURQPHQWDO'RFXPHQWKDVEHHQ FLUFXODWHGIRUSXEOLFUHYLHZIURP1RYHPEHUWKURXJK -DQXDU\7KH'UDIW(QYLURQPHQWDO'RFXPHQW ZDV 5HSRUW ZDVLQLWLDWHG LQ-DQXDU\DQG ZDVFRPSOHWHGLQ LQLWLDWHGWRHYDOXDWHWKHYDULRXVDOWHUQDWLYHV$3URMHFW6WXG\ )HDVLELOLW\6WXG\ZDVFRPSOHWHGLQ0DUFKDQGZDV 7KH([SUHVV /DQHV ([WHQVLRQDQG65&RQQHFWRU &DOWUDQVZKLFK ZHUHXWLOL]HGIRUWKHHQYLURQPHQWDODQDO\VLV )RRWKLOO(DVWHUQ7UDQVSRUWDWLRQ&RUULGRU $JHQF\ 7&$ DQG ([SUHVV/DQHV&RQQHFWRUKDYHEHHQGHYHORSHGE\WKH 3UHOLPLQDU\HQJLQHHULQJFRQFHSWVIRUD65657ROOHG &XUUHQW 6WDWXV LPSURYLQJWUDIILFRSHUDWLRQVRQQRUWKERXQG65 RSHUDWLRQVDORQJWKH 65JHQHUDOSXUSRVHODQHVZKLOH DOVR 36 65,03/(0(17$7,213/$1  &RQFHSWV IRUSRWHQWLDO3RVWLPSOHPHQWDWLRQ SRWHQWLDOO\HDUOLHULIIXQGLQJEHFRPHVDYDLODEOH IRFXVRQORQJHUOHDGWLPH SURMHFWV7KLVPXOWLELOOLRQ GROODUSURJUDPPD\LQFOXGHDQHOHYDWHG ODQHIDFLOLW\ 0,6&RUULGRU$ IURP 65WR,WKH $QDKHLPWR2QWDULR,QWHUQDWLRQDO$LUSRUW0DJOHY+LJK 6SHHG 5DLOWKH,UYLQH&RURQD([SUHVVZD\ ,&( ODQHIDFLOLW\IURP 6565 WR ,&DMDOFR 5RDG IRUPHUO\ NQRZQ DV 0,6 &RUULGRU % :HVWERXQG 65 WR6RXWKERXQG 65 &RQQHFWRU,PSURYHPHQWVDQG (DVWERXQG 65)LIWK/DQH$GGLWLRQDW657KHVH SRWHQWLDOFRQFHSWV LQFOXGHVLJQLILFDQW HQYLURQPHQWDOFRQVWUDLQWVDQGULJKWRIZD\UHTXLUHPHQWVLQDGGLWLRQWRUHTXLULQJDVLJQLILFDQWDPRXQWRISODQQLQJGHVLJQDQG IXWXUHSROLF\DQGSXEOLFLQSXW &RQFHSW6XPPDU\&RVW 0 (OHYDWHG/DQH)DFLOLW\ 0,6&RUULGRU $ IURP65WR, $QDKHLPWR2QWDULR ,QWHUQDWLRQDO$LUSRUW0DJOHY+LJK6SHHG5DLO  ,UYLQH&RURQD([SUHVVZD\ ,&( /DQH)DFLOLW\IURP6565WR,&DMDOFR 5RDG  :HVWERXQG 65WR6RXWKERXQG 65&RQQHFWRU ,PSURYHPHQWV  (DVWERXQG 65)LIWK/DQH$GGLWLRQDW 65 68%727$/²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³SDUDOOHO´WROOHG IDFLOLWLHV %HQHILWV 7KH FRQFHSW ZRXOG SURYLGH VLJQLILFDQW FRQJHVWLRQ UHOLHI E\ DOORZLQJYHKLFOHVWRE\SDVVWKHDWJUDGHIUHHZD\ODQHVDQGORFDO DUWHULDOLQWHUFKDQJHVEHWZHHQ65DQG,&RQQHFWLRQVDUH SURSRVHGGLUHFWO\EHWZHHQ6565DQG, &XUUHQW 6WDWXV 7KLV FRQFHSW LV LGHQWLILHG LQ WKH 5LYHUVLGH &RXQW\2UDQJH &RXQW\ 0DMRU ,QYHVWPHQW 6WXG\ 0,6  DV SDUW RI WKH /RFDOO\ 3UHIHUUHG 6WUDWHJ\WRLPSURYHPRELOLW\EHWZHHQ5LYHUVLGH&RXQW\ DQG2UDQJH&RXQW\1RSURMHFWGHYHORSPHQWZRUN LV SODQQHGDW WKLV WLPH 6FKHGXOHDQG&RVW $QWLFLSDWHGSURMHFWFRPSOHWLRQLVSRVWDQGFRQVWUXFWLRQFRVW LVHVWLPDWHGWREH GROODUV  38 $QDKHLP WR2QWDULR,QWHUQDWLRQDO$LUSRUW0DJOHY+LJK6SHHG5DLO 65,03/(0(17$7,213/$1  &RQFHSW'HVFULSWLRQ 3URSRVDOVIRUDQHZVXSHUVSHHGWUDLQFRUULGRUIURP$QDKHLPWR 2QWDULRDUHLQFOXGHGLQWKLVFRQFHSW7KLVFRQFHSWLQFOXGHVDQ DOWHUQDWLYHWKDWZRXOGXVH65ULJKWRIZD\RU ZRXOGEHDOLJQHG DGMDFHQWWR65ULJKWRIZD\RU FRXOGSRWHQWLDOO\EHFRORFDWHG ZLWK WKH 0DMRU ,QYHVWPHQW 6WXG\ 0,6  &RUULGRU $ DOLJQPHQW $QRWKHUDOLJQPHQW RSSRUWXQLW\LVEHLQJLQYHVWLJDWHGDORQJ65 .H\&RQVLGHUDWLRQV $OWHUQDWLYH DOLJQPHQW LPSDFWV WR 65 ULJKWRIZD\ HQYHORSH DQGRU 6DQWD $QD 5LYHU DUH XQGHWHUPLQHG 7KH FKRLFH RI DOLJQPHQW ZLOO SRWHQWLDOO\ LPSDFW 0,6&RUULGRU $ 5LJKWRIZD\ 5: ZLOO EHUHTXLUHGWRLPSOHPHQWWKHLPSURYHPHQWV3RWHQWLDO FRQVLGHUDWLRQVIRUFRORFDWLQJWKH0DJQHWLF/HYLWDWLRQ 0DJOHY WUDLQDGMDFHQWWR&RUULGRU$ DQGDOVR65 LQFOXGHSURYLGLQJD WZRFROXPQ VWUXFWXUH ZLWK D EDUULHU EHWZHHQ WKH WUDLQV DQG YHKLFOHV &DOWUDQV DQG 0DJOHY KLJKZD\ 5: PDLQWHQDQFH VDIHW\DQGRSHUDWLRQVFRQVLGHUDWLRQVZRXOGQHHGWREHDQDO\]HG LIVKDUHGXVHZLWKD0DJOHYIDFLOLW\ZHUHSXUVXHG6HHWKH0,6 &RUULGRU$SURMHFWIRUDGGLWLRQDOFRQVLGHUDWLRQV&RRUGLQDWLRQZLWK 0HWUROLQNLPSURYHPHQWVZLOOEHUHTXLUHG %HQHILWV 7KHFRQFHSWZRXOGSURYLGHFRQJHVWLRQUHOLHIE\SURYLGLQJDGLUHFW KLJKVSHHGKLJKFDSDFLW\ FRQQHFWLRQ ZLWK 2QWDULR ,QWHUQDWLRQDO $LUSRUWIRU2UDQJH&RXQW\DLUSDVVHQJHUVDQGEXVLQHVV QH[WGD\ GHOLYHULHV0DJOHYZLOOPDNH WKHWULSLQMXVWPLQXWHV5HOLHYHV FRQJHVWLRQ RQ 65E\SURYLGLQJ DGGLWLRQDO FDSDFLW\ LQ WKH FRUULGRU &XUUHQW6WDWXV 6LQFHQRSURJUHVVRQWKLVSURMHFWKDVRFFXUUHG3UHOLPLQDU\ GHVLJQ HQJLQHHULQJ DQG 3KDVHV  DQG  RI D 3UHOLPLQDU\ (QYLURQPHQWDO ,PSDFW 6WDWHPHQW(QYLURQPHQWDO ,PSDFW 6WDWHPHQW 3(,6(,6 DUHFRPSOHWHG&RQJUHVVDSSURYHG0 LQ 6$)(7($/8 IRU WKH HQYLURQPHQWDO SKDVH RI WKH SURMHFW &RQVWUXFWLRQIXQGLQJRIXSWRELOOLRQZDVLGHQWLILHGWKURXJKD ORDQFRPPLWPHQWIURPWKH&KLQD([SRUW,PSRUW%DQN 6FKHGXOHDQG&RVW $QWLFLSDWHG SURMHFW FRPSOHWLRQ LV WR EH GHWHUPLQHG DQG FRQVWUXFWLRQ FRVW LV HVWLPDWHG WR EH IURP  WR  GROODUV  39 ,UYLQH&RURQD([SUHVVZD\ ,&( IURP6565WR, 65,03/(0(17$7,213/$1  &RQFHSW'HVFULSWLRQ 7KH LPSURYHPHQWV SULPDULO\ FRQVLVW RI FRQVWUXFWLQJ D KLJKZD\ DQG UDLOIDFLOLW\ WKURXJK WKH &OHYHODQG 1DWLRQDO )RUHVW ZLWK IUHHZD\WRIUHHZD\ FRQQHFWRUV DW 6565 DQG , &DMDOFR5RDG7KHIDFLOLW\ZRXOGHVVHQWLDOO\EHDFRQWLQXDWLRQ RI65RQWKHZHVWHQG RIWKHFRUULGRUWR,RQWKHHDVW HQG .H\&RQVLGHUDWLRQV 7KH WXQQHO FRQFHSW LV WHFKQLFDOO\ IHDVLEOH EDVHG RQ WKH JHRWHFKQLFDO LQYHVWLJDWLRQ FRPSOHWHG LQ 'HFHPEHU  7KH LQLWLDO SURMHFW SKDVH ZRXOG EH WKH FRQVWUXFWLRQ RI RQH ODQH KLJKZD\WXQQHODQGRQHUDLOWXQQHO7KHVHFRQGSURMHFWSKDVH ZRXOGLQFOXGHFRQVWUXFWLRQRIDVHFRQGODQHKLJKZD\WXQQHO $GGLWLRQDO WHFKQLFDOVWXGLHVDQGJHRWHFKQLFDOERULQJVZRXOGEH QHHGHG WR UHILQH WKH WXQQHO DOLJQPHQWV DQG JUDGHV&RVWV DVVRFLDWHG ZLWKWKH,UYLQH&RURQD([SUHVVZD\ ,&( WXQQHOVDUH EDVHG RQ WKH )HDVLELOLW\ (YDOXDWLRQ 5HSRUW FRPSOHWHG LQ 'HFHPEHU  $ ILQDQFLDODQDO\VLV ZLOO EH QHHGHG IRU WKH FRQVWUXFWLRQRSHUDWLRQVDQGWROOUHTXLUHPHQWVRIWKH,&(WXQQHOV %HQHILWV 7KH FRQFHSW ZRXOG SURYLGH VLJQLILFDQW FRQJHVWLRQ UHOLHI E\ SURYLGLQJ DQ DOWHUQDWLYH URXWH EHWZHHQ 2UDQJH DQG 5LYHUVLGH FRXQWLHVDQGZRXOGDOORZYHKLFOHVWRE\SDVV65EHWZHHQ65 DQG,7KHFRQFHSWZRXOGQRWGLVUXSW65WUDIILFGXULQJ FRQVWUXFWLRQ DQG ZRXOG DOORZ IRU DGGLWLRQDO URXWH VHOHFWLRQ IRU LQFLGHQWPDQDJHPHQWHPHUJHQF\HYDFXDWLRQDQGIRUFRQWLQXLW\ RIWKHKLJKZD\QHWZRUNE\OLQNLQJ65WR, &XUUHQW6WDWXV 2Q $XJXVW   WKH 5LYHUVLGH 2UDQJH &RUULGRU $XWKRULW\ %RDUGWRRN DFWLRQWRGHIHU DGGLWLRQDOVWXG\RIWKH,&(FRQFHSW XQWLO VXFK WLPH DV ILQDQFLDO FRQVLGHUDWLRQV LPSURYH DQGRU WHFKQRORJLFDO DGYDQFHPHQWV ZDUUDQW UHH[DPLQDWLRQ 5HYLHZ RI WKH FRQFHSW VKDOO EH GRQH DQQXDOO\ WKURXJK WKH 65 ,PSOHPHQWDWLRQ 3ODQ XSGDWH WR GHWHUPLQH LI DQ\RI WKH PDMRU DVVXPSWLRQVDERXW ILQDQFLDO FRQVLGHUDWLRQV SULYDWH VHFWRU LQWHUHVWRUWHFKQRORJLFDODGYDQFHPHQWVKDYHFKDQJHGWRPDNH WKH WXQQHO ILQDQFLDOO\ YLDEOH 6HH ³,&( VWDWXV VXPPDU\´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¶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³:HVWERXQG6WDWH5RXWH$X[LOLDU\/DQHIURPWKH1%65:%65&RQQHFWRUWRWKH7XVWLQ$YHQXH ,QWHUFKDQJH´ 36 (IRU ,QLWLDO65&,33URMHFW &DOLIRUQLD 7UDQVSRUWDWLRQ&RPPLVVLRQ&RUULGRU0RELOLW\,PSURYHPHQW$FFRXQW &0,$ $PHQGHG'HFHPEHU  03ODQ 0HDVXUH0 6HSWHPEHU  3653'6IRU65657ROOHG([SUHVV/DQHV&RQQHFWRU-DQXDU\ 3URMHFW5HSRUWDQG(QYLURQPHQWDO'RFXPHQW (,5(,6 IRU65&,3 IURP65WR3LHUFH6WUHHW 3URMHFW2FWREHU 36 (³2Q6WDWH 5RXWH%HWZHHQWKH6565,QWHUFKDQJHDQG WKH6565,QWHUFKDQJHLQ2UDQJH&RXQW\´ $SULO &RUULGRU6\VWHP 0DQDJHPHQW3ODQ &603 2UDQJH&RXQW\65&RUULGRU )LQDO 5HSRUW$XJXVW  3URMHFW6WXG\5HSRUW3URMHFW5HSRUW³5LJKWRI:D\5HOLQTXLVKPHQWRQ:HVWERXQG6WDWH5RXWH%HWZHHQ:HLU&DQ\RQ 5RDGDQG&RDO&DQ\RQ´0D\ 65)DLUPRQW%RXOHYDUG)HDVLELOLW\6WXG\'HFHPEHU )HDVLELOLW\(YDOXDWLRQ5HSRUWIRU ,UYLQH&RURQD ([SUHVVZD\7XQQHOV'HFHPEHU 3ODQV6SHFLILFDWLRQVDQG(VWLPDWHV 36 ( IRU(DVWERXQG65ODQHDGGLWLRQIURP65WR650D\ 365 ³2Q6WDWH5RXWH%HWZHHQWKH 6565,QWHUFKDQJHDQGWKH6565,QWHUFKDQJHLQ2UDQJH&RXQW\´$SULO  ([SUHVV/DQHV([WHQVLRQDQG6WDWH5RXWH&RQQHFWRU)HDVLELOLW\6WXG\0DUFK  36535 ³2Q*\SVXP&DQ\RQ5RDG%HWZHHQ WKH*\SVXP&DQ\RQ 5RDG65:HVWERXQG2II5DPS 30 DQGWKH *\SVXP&DQ\RQ5RDG65(DVWERXQG'LUHFW 2Q5DPS 30 ´-XQH 2UDQJH&RXQW\7UDQVSRUWDWLRQ$XWKRULW\5HQHZHG0HDVXUH0 7UDQVSRUWDWLRQ,QYHVWPHQW3ODQ1RYHPEHU 5LYHUVLGH&RXQW\2UDQJH&RXQW\0DMRU,QYHVWPHQW6WXG\ 0,6 ±)LQDO3URMHFW5HSRUW/RFDOO\3UHIHUUHG6WUDWHJ\5HSRUW -DQXDU\ &DOLIRUQLD±1HYDGD,QWHUVWDWH0DJOHY3URMHFW5HSRUW$QDKHLP2QWDULR6HJPHQW&DOLIRUQLD1HYDGD6XSHU6SHHG 7UDLQ &RPPLVVLRQ$PHULFDQ0DJOLQH*URXS$XJXVW 5RXWH&RQFHSW5HSRUWVIRU 65&DOWUDQV'LVWULFWVDQG 9DULRXV3UHOLPLQDU\'UDZLQJVDQG&URVV6HFWLRQV&DOWUDQV'LVWULFWVDQG 52 Draft 2020 State Route 91 Implementation Plan SR-91 Implementation Plan •Required by SB 1316 (Chapter 714, Statutes 2008) •Updated annually to capture past, present, and future projects along SR-91 o I-15 to SR-57 •Not financially constrained •Bi-county collaborative effort 2 SR-91 –State Route 91 I-15 –Interstate 15 SR-57 –State Route 57 Culmination of Efforts 3 •Eight projects completed •$1.9 billion invested Culmination of Efforts (continued) 4 •66.5 lane miles added •15 percent increase in throughput Culmination of Efforts (continued) 5 Benefits of Coordinated Efforts -Addresses population/traffic growth -Provides seamless connectivity between the counties -Increases travel options -Improves quality of life Guiding Principles 6 o SR-91 corridor improvements phased in such a way that will minimize traffic impacts to the corridor o Optimize vehicle throughput at free flow speeds and increase vehicle occupancy o Balance capacity and demand to serve toll customers and carpoolers (3+) at a discounted rate o Generate sufficient revenue to sustain the financial viability of the 91 Express Lanes o Pay debt service and maintain debt service coverage o Reinvest net revenues on the SR-91 corridor to improve regional mobility, when appropriate Orange County Projects 7 •SR-91 improvements between SR-57 and SR-55 •Anaheim Canyon Metrolink Station improvements •Placentia Metrolink Rail Station •Fairmont improvements SR-55 -State Route 55 Riverside County Projects 8 •15/91 Express Lanes Connector •SR-71/SR-91 interchange •Improvements east of I-15 SR-71 -State Route 71 Bi-County Projects 9 •Express Bus Service •SR-91 Corridor Operations Project •General-purpose lane addition (SR-241 to SR-71) •SR-241/SR-91 Tolled Express Lanes Connector SR-241 –State Route 241 Project Sequencing o Consensus between OCTA, RCTC, Caltrans, and TCA in October 2019 o Allows for streamlining of the SR-241/SR-91 Tolled Express Lanes Connector while minimizing impacts to the 91 corridor o Proposes the following sequence of project implementation: 1.15/91 Express Lanes Connector 2.SR-91 Corridor Operations Project 3.SR-71/SR-91 Interchange Improvements* 4.SR-241/SR-91 Tolled Express Lanes Connector *SR-241/SR-91 Tolled Express Lanes Connector is not dependent upon completion of SR-71/SR-91 Interchange improvements 10 OCTA –Orange County Transportation Authority RCTC –Riverside County Transportation Commission Caltrans –California Department of Transportation TCA –Transportation Corridor Agencies Recommendation/Next Steps 11 •Approve the 2020 SR-91 Implementation Plan •Continue project implementation efforts •Continue seeking external funding opportunities AGENDA ITEM 8 Agenda Item 8 RIVERSIDE COUNTY TRANSPORTATION COMMISSION DATE: July 27, 2020 TO: Western Riverside County Programs and Projects Committee FROM: David Thomas, Toll Projects Manager THROUGH: Michael Blomquist, Toll Program Director SUBJECT: Award of SR-91 Corridor Operations Project Construction Agreement to OHL USA STAFF RECOMMENDATION: This item is for the Committee to: 1) Pending final results of the Disadvantaged Business Enterprise (DBE) Good Faith Efforts review, award Agreement No. 20-31-069-00 to OHL USA to construct the SR-91 Corridor Operations Project (91 COP), in the amount of $18,886,963, plus a contingency amount of $1,888,696, supplemental work in the amount of $406,900, and an incentive payment in the amount of $472,500, for a total amount not to exceed $21,655,059; 2) Authorize the Chair or Executive Director, pursuant to legal counsel review, to finalize and execute the agreement on behalf of the Commission; 3) Authorize the Executive Director, or designee, to approve contingency work, supplemental work and incentive payments as may be required for the 91 COP; and 4) Forward to the Commission for final action. BACKGROUND INFORMATION: At its May 2018 meeting, the Commission authorized all project development activities needed to complete environmental approvals and final design for the 91 COP and to return in fall 2018 with a recommendation regarding the construction. In December 2018, the Commission authorized implementation of the construction phase of the 91 COP after completing environmental and design approvals. In May 2020, the Commission awarded a Construction Management Services Agreement to Falcon Engineering Services for the 91 COP. The subject of this staff report is the award of the construction contract for the 91 COP. The 91 COP will add a 2-mile long general purpose lane in the westbound direction on SR-91 from Green River Road westbound on-ramp to SR-241. A detailed vicinity map of the 91 COP is provided as Attachment 1. The 91 COP involves: 1) Adding approximately 9 to 10 feet of outside pavement widening to SR-91 at some locations and restriping in others; 2) Widening the County Line Creek Undercrossing; 53 Agenda Item 8 3) Constructing new retaining walls approximately 3,200 feet in length and approximately 6 to 28 feet in height on the north side of SR-91; 4) Reconstructing a portion of Green River Road; 5) Replacing overhead signs; and 6) Adding high mast lighting on the north side of the outside barrier. Procurement Process: On May 21, 2020, the Commission released Invitation for Bids (IFB) No. 20-31-069-00 for construction of the 91 COP. A public notice was advertised in the Press Enterprise, and the complete IFB, including all contract documents, was posted on the PlanetBids website, which is accessible through the Commission’s website. Electronic mail messages were sent to vendors registered in the Commission’s PlanetBids database that fit the IFB qualifications. 105 firms downloaded the IFB; 28 of those firms are located in Riverside County. A pre-bid video conference was held on May 28, 2020. On July 2, 2020, 11 bids were received and publicly opened. A summary of the bids received is shown in Table 1. Table 1 Construction of 91 COP Firm (In order from Low Bid to High Bid) Bid Amount Engineer’s Estimate $26,000,000.00 1 OHL USA $18,886,963.15 2 Walsh Construction Company $19,801,970.44 3 Griffith Company $19,898,025.70 4 Ames Construction $20,182,234.00 5 Security Paving Company $20,662,814.96 6 Ortiz Enterprises Incorporated $21,232,663.82 7 Beador Construction Company $21,415,300.00 8 SEMA Construction, Inc $21,499,039.63 9 Skanska USA Civil West California District Inc $22,142,000.00 10 Myers-Rados, A Joint Venture $23,339,887.75 11 Powell Constructors Inc $28,051,533.00 The basis for award for a public works contract is the lowest responsive and responsible bidder as defined by the Commission’s procurement policy and state law. The bid analysis (Attachment 3) shows the bid amounts of the three lowest apparent bidders, the total price per item and percent variation from the engineer’s estimate for each bid item. The bid price submitted by OHL USA was approximately 27 percent lower than the engineer’s estimate. Although OHL USA’s bid is lower than the engineer’s estimate, an analysis of the bids is required and was completed by staff. 54 Agenda Item 8 After analyzing the 11 bids received, staff concluded that OHL USA is the lowest responsible bidder submitting a responsive bid in the amount of $18,886,963. Staff received a bid protest letter dated July 20, 2020 protesting the bid submitted by OHL USA. The Executive Director, in consultation with staff, legal counsel and the Commission’s DBE consultant, determined that the protest had merit, in part, and that OHL USA did not meet the DBE goal. As a result, staff is completing a DBE Good Faith Efforts analysis which has been submitted to Caltrans for review. Staff will inform the Commission of the final results of the Good Faith Efforts review at the Commission meeting. Should the Good Faith Efforts analysis not be completed by Caltrans prior to the meeting, this item may be deferred to the September Commission meeting. Supplemental work is work that will need to be done during construction but is not quantifiable at the time of construction advertisement. Two common supplemental items of work are maintaining existing traffic and the price index fluctuation of asphalt pavement. The estimated budget for supplemental work is $406,900. The bid documents included an incentive clause that would pay the contractor up to two early completion bonuses tied to two project milestones. The first bonus would be paid if the contractor reduces Stage 2 which is considered the most impactful to the traveling public. The second bonus would be paid if the contractor reduces the overall construction duration from Notice to P roceed (NTP) to Open to Traffic. These two early completion bonuses including the daily value of the incentive/disincentive and the maximum bonus achievable are shown in Table 2. Table 2 Early Completion Bonus Milestone Completion Duration (Working Days) $/Day (Early/Late) Maximum Days (Early/Late) Maximum Bonus Stage 2 60 $13,500 10/unlimited $135,000 NTP to Open to Traffic 230 $13,500 25/unlimited $337,500 Each bonus can be achieved independently for a combined maximum bonus payment of $472,500. Construction activity is expected to begin in October 2020 and will take about 12 months to complete. Pending final results of the DBE Good Faith Efforts review, staff recommends award of Agreement No. 20-31-069-00 for the construction of the 91 COP to OHL USA, in the amount of $18,886,963, plus a contingency amount of $1,888,696, supplemental work in the amount of $406,900, and an incentive payment in the amount of $472,500, for a total amount not to exceed $21,655,059. Staff also recommends authorization for the Chair or Executive Director, pursuant to legal counsel review, to finalize and execute the agreement on behalf of the 55 Agenda Item 8 Commission and for the Executive Director, or designee, to approve contingency work, supplemental work and incentive payments as may be required for the 91 COP. Financial Information In Fiscal Year Budget: Yes N/A Year: FY 2020/21 FY 2021/22 Amount: $ 18,000,000 $ 3,655,059 Source of Funds: OCTA contribution and Federal Funds Budget Adjustment: No N/A GL/Project Accounting No.: 623046 81301 00000 0000 262 31 81301 Fiscal Procedures Approved: Date: 07/14/2020 Attachments: 1) Project Vicinity Map 2) Draft Agreement No. 20-31-069-00 with OHL USA 3) Bid Analysis 56 91 91 Project Vicinity C O U N T Y RIVE RSIDE C O U N T Y RIVE RSIDE EA: 08-0F544 CORRIDOR OPERATIONS PROJECT SR-91 08-RIV SR-91 PM 0.00 12-ORA SR-91 PM 18.88 241 71 SR-91 PM 17.36 BEGIN CONSTRUCTION SR-91 PM 0.54 END CONSTRUCTION BRIDGE WIDENING COUNTY LINE CREEK C O U N T Y O R A N G E C O U N T Y O R A N G E CANYON COAL CANYONCOAL S AN T A ANA R IV E R S AN T A ANA R IV E R GOLF CLUB GREEN RIVER GOLF CLUB GREEN RIVER LIART REVIR ANA ATNAS LIART REVIR ANA ATNAS GYPSUM CANYON RdGYPSUM CANYON RdGREEN RIVER Rd GREEN RIVER Rd DAM PRADO DAM PRADO WIDENING SR-91 WIDENING SR-91 ATTACHMENT 1 57 17336.02123\32960449.1 Contract -1 RIVERSIDE COUNTY TRANSPORTATION COMMISSION ************** CONTRACT ************** CONSTRUCTION ON STATE ROUTE 91 CORRIDOR OPERATIONS PROJECT RCTC Agreement No. 20-31-069-00 May 21, 2020 BETWEEN RIVERSIDE COUNTY TRANSPORTATION COMMISSION AND OHL USA DRAFTATTACHMENT 2 58 17336.02123\32960449.1 Contract -2 CONSTRUCTION OF STATE ROUTE 91 CORRIDOR OPERATIONS PROJECT RCTC AGREEMENT NO. 20-31-069-00 1. PARTIES AND DATE. This Contract is made and entered into this ____ day of _______________, 20___ by and between the Riverside County Transportation Commission (hereinafter called the “Commission”) and OHL USA (hereinafter called the “Contractor”). This Contract is for that Work described in the Contract Documents entitled CONSTRUCTION OF STATE ROUTE 91 CORRIDOR OPERATIONS PROJECT. 2. RECITALS. 2.1 The Commission is a County Transportation Commission organized under the provisions of Sections 130000, et seq. of the Public Utilities Code of the State of California, with power to contract for services necessary to achieving its purpose; 2.2 Contractor, in response to a Notice Inviting Bids issued by Commission on May 21, 2020, has submitted a bid proposal for the CONSTRUCTION OF STATE ROUTE 91 CORRIDOR OPERATIONS PROJECT 2.3 Commission has duly opened and considered the Contractor’s bid proposal and duly awarded the bid to Contractor in accordance with the Notice Inviting Bids and other Bid Documents. 2.4 Contractor has obtained, and delivers concurrently herewith, Performance and Payment Bonds and evidences of insurance coverage as required by the Contract Documents. 3. TERMS. 3.1 Incorporation of Documents. This Contract includes and hereby incorporates in full by reference this Contract and the following Contract Documents provided with the above referenced Notice Inviting Bids, including all exhibits, drawings, specifications and documents therein, and attachments thereto, all of which, including all addendum thereto, are by this reference incorporated herein and made a part of this Contract: a. NOTICE INVITING BIDS b. INSTRUCTIONS TO BIDDERS c. CONTRACT BID FORMS d. FORM OF CONTRACT e. PAYMENT AND PERFORMANCE BOND FORMS DRAFT59 17336.02123\32960449.1 Contract -3 f. ESCROW AGREEMENT FOR SECURITY DEPOSITS g. CONTRACT APPENDIX PART “A” - Regulatory Requirements and Permits PART “B” - Special Provisions PART “C” – Standard Provisions PART “D” - Contract Drawings PART “E” - Contract Compliance Provisions/DBE Requirements PART “F” - Federal Minimum Wage Requirements PART “G” - Federal Requirements for Federal Aid Construction Contracts PART “H” – Supplemental Materials h. ADDENDUM NO.(S) (N/A or Add Addendum Numbers) 3.2 Contractor’s Basic Obligation. Contractor promises and agrees, at his own cost and expense, to furnish to the Commission all labor, materials, tools, equipment, services, and incidental and customary work for the construction on State Route 9 to add one additional lane to the westbound State Route 91 between Green River Road on-ramp and the southbound State Route 241 toll road connector in the cities of Corona, Yorba Linda and Anaheim Hills. This project is hereby referred to as the Corridor Operations Project. The project scope generally consists of the addition of one general purpose (GP) lane approximately 2 miles in length in the WB direction on SR-91 from Green River Road to SR-241. This involves adding approximately 9 to 10 feet of outside widening to SR-91 at some locations and restriping in others. Additional work includes widening the County Line Creek UC, constructing new retaining walls approximately 3,200 feet in length and approximately 6 to 28 feet in height on the north side of SR- 91, reconstructing a portion of Green River Road, and replacing overhead signs. Notwithstanding anything else in the Contract Documents, the Contractor shall complete the Work for a total of Eighteen Million Eight Hundred Eighty-Six Thousand Nine Hundred Sixty-Three Dollars ($18,886,963), as specified in the bid proposal and pricing schedules submitted by the Contractor in response to the above referenced Notice Inviting Bids. Such amount shall be subject to adjustment in accordance with the applicable terms of this Contract. All Work shall be subject to, and performed in accordance with the above referenced Contract Documents. 3.3 Beginning of Work, Time of Completion and Liquidate Damages. The Contractor shall begin work within 15 calendar days after the issuance of the Notice to Proceed. This Work shall be diligently prosecuted to completion before the expiration of (excluding plant establishment work) 250 working days beginning on the fifteenth calendar day after the date shown on the Notice to Proceed. Contractor agrees that if such Work is not completed within the DRAFT60 17336.02123\32960449.1 Contract -4 aforementioned periods, liquidated damages will apply as provided by the applicable provisions of the Standard Provisions, found in Part “C” of the Contract Appendix. 3.4 Commission’s Basic Obligation. Commission agrees to engage and does hereby engage Contractor as an independent contractor to furnish all materials and to perform all Work according to the terms and conditions herein contained for the sum set forth above. Except as otherwise provided in the Contract Documents, the Commission shall pay to Contractor, as full consideration for the satisfactory performance by the Contractor of services and obligation required by this Contract, the above referenced compensation in accordance with Compensation Provisions set forth in the Contract Documents. 3.5 California Prevailing Wages; Conflicts. The State general prevailing wage rates determined by the Director of Industrial Relations are hereby made a part of this contract. It is further expressly agreed by and between the parties hereto that should there be any conflict between the terms of this instrument and the bid of said Contractor, then this instrument shall control and nothing herein shall be considered as an acceptance of the said terms of said bid conflicting herewith. 3.6 Contractor’s Labor Certification. Contractor maintains that he is aware of the provisions of Section 3700 of the Labor Code which require every employer to be insured against liability for Worker’s Compensation or to undertake self-insurance in accordance with the provisions of that Code, and agrees to comply with such provisions before commencing the performance of the Work. A certification form for this purpose is attached to this Contract as Exhibit “A” and incorporated herein by reference, and shall be executed simultaneously with this Contract. 3.7 Successors. The parties do for themselves, their heirs, executors, administrators, successors, and assigns agree to the full performance of all of the provisions contained in this Contract. Contractor may not either voluntarily or by action of law, assign any obligation assumed by Contractor hereunder without the prior written consent of Commission. 3.8 Notices. All notices hereunder and communications regarding interpretation of the terms of the Contract or changes thereto shall be provided by the mailing thereof by registered or certified mail, return receipt requested, postage prepaid and addressed as follows: Contractor: Commission: OHL USA Riverside County Transportation Commission 1920 Main Street, Suite 310 P.O. Box 12008 DRAFT61 17336.02123\32960449.1 Contract -5 Irvine, CA 92614 Riverside, California 92502-2208 Attn: Ahmad Bagheri Attn: Executive Director Any notice so given shall be considered received by the other party three (3) days after deposit in the U.S. Mail, first class postage prepaid, addressed to the party at the above address. Actual notice shall be deemed adequate notice on the date actual notice occurred, regardless of the method of service. CONTRACTOR OHL USA RIVERSIDE COUNTY TRANSPORTATION COMMISSION By: By: Name: Name: Title: Riverside County Transportation Commission Tax I.D. Number: APPROVED AS TO FORM: By: Best Best & Krieger LLP Counsel, RCTC DRAFT62 17336.02123\32960449.1 Contract -6 EXHIBIT “A” CERTIFICATION LABOR CODE - SECTION 1861 I, the undersigned Contractor, am aware of the provisions of Section 3700 et seq. of the California Labor Code which require every employer to be insured against liability for Worker’s Compensation or to undertake self-insurance in accordance with the provisions of the Code. I agree to and will comply with such provisions before commencing the Work governed by this Contract. CONTRACTOR OHL USA By: Signature Name: Title: Date:DRAFT63 Bid Results for Project RCTC - SR-91 CORRIDOR OPERATIONS PROJECT (IFB NO. 20-31-069-00)Issued on 05/21/2020Yellow items are >$100k below Engineer's EstimateBid Due on July 2, 2020 2:00 PM (Pacific)Item Num Item CodeDescriptionUnit Quantity Unit Price Total % of EE Unit Price Total% VAR of EE Unit Price Total% VAR of EE Unit Price Total% VAR of EE Unit Price Total% of Total% VAR of EE Unit Price Total% VAR to AVE Unit Price Total% VAR to AVE Unit Price Total% VAR to AVE Price Spread Amount Spread% Total Ave. Item Num1 70030 LEAD COMPLIANCE PLANLS1 10,000.00$ 10,000.00$ 0%$7,500.00 $7,500.00 -25% $1,000.00 $1,000.00-90%$3,300.00 $3,300.00-67%$3,933.33 $3,933.33 0% -61% $3,566.67 $3,566.67 91% ($2,933.33) ($2,933.33)-75%($633.33) ($633.33) -16% $6,500.00 $6,500.00 0%12 80050 PROGRESS SCHEDULE (CRITICAL PATH METHOD)LS1 10,000.00$ 10,000.00$ 0% $10,000.00 $10,000.00 0% $9,000.00 $9,000.00 -10% $24,000.00 $24,000.00 140% $14,333.33 $14,333.33 0% 43% ($4,333.33) ($4,333.33) -30% ($5,333.33) ($5,333.33) -37% $9,666.67 $9,666.67 67% $15,000.00 $15,000.00 0%23 90100 TIME-RELATED OVERHEAD (WDAY)WDAY 250 8,500.00$ 2,125,000.00$ 8%$5,200.00 $1,300,000.00 -39% $1,500.00 $375,000.00-82%$575.00 $143,750.00-93%$2,425.00 $606,250.00 2% -71% $2,775.00 $693,750.00 114% ($925.00) ($231,250.00) -38% ($1,850.00) ($462,500.00)-76%$4,625.00 $1,156,250.005%34 120090 CONSTRUCTION AREA SIGNSLS1 25,000.00$ 25,000.00$ 0% $20,000.00 $20,000.00 -20% $34,450.00 $34,450.00 38% $20,000.00 $20,000.00 -20% $24,816.67 $24,816.67 0% -1% ($4,816.67) ($4,816.67) -19% $9,633.33 $9,633.33 39% ($4,816.67) ($4,816.67) -19% $14,450.00 $14,450.00 0%45 120100 TRAFFIC CONTROL SYSTEMLS1 245,000.00$ 245,000.00$ 1% $220,000.00 $220,000.00 -10% $265,000.00 $265,000.00 8% $655,000.00 $655,000.00167%$380,000.00 $380,000.00 1% 55% ($160,000.00) ($160,000.00)-42%($115,000.00) ($115,000.00) -30% $275,000.00 $275,000.00 72% $435,000.00 $435,000.00 2%56 120100A EXPRESS LANE CLOSURE CHARGESLS1 76,700.00$ 76,700.00$ 0% $12,600.00 $12,600.00-84%$185,000.00 $185,000.00 141% $200,000.00 $200,000.00161%$132,533.33 $132,533.33 1% 73% ($119,933.33) ($119,933.33)-90%$52,466.67 $52,466.67 40% $67,466.67 $67,466.67 51% $187,400.00 $187,400.00 1%67 120120 TYPE III BARRICADEEA3 130.00$ 390.00$ 0%$92.00 $276.00 -29%$200.00 $600.00 54%$111.00 $333.00 -15%$134.33 $403.00 0% 3%($42.33) ($127.00) -32%$65.67 $197.00 49%($23.33) ($70.00) -17%$108.00 $324.00 0%78 120149 TEMPORARY PAVEMENT MARKING (PAINT)SQFT170 5.00$ 850.00$ 0%$2.25 $382.50-55%$2.00 $340.00-60%$4.50 $765.00 -10%$2.92 $495.83 0% -42%($0.67) ($113.33) -23%($0.92) ($155.83) -31%$1.58 $269.17 54%$2.50 $425.00 0%89 120159 TEMPORARY TRAFFIC STRIPE (PAINT)LF47700 0.40$ 19,080.00$ 0%$0.28 $13,356.00 -30%$0.25 $11,925.00 -38%$0.28 $13,356.00 -30%$0.27 $12,879.00 0% -33%$0.01 $477.00 4%($0.02) ($954.00) -7%$0.01 $477.00 4%$0.03 $1,431.00 0%910 120165 CHANNELIZER (SURFACE MOUNTED)EA6 60.00$ 360.00$ 0%$45.00 $270.00 -25%$50.00 $300.00 -17%$50.00 $300.00 -17%$48.33 $290.00 0% -19%($3.33) ($20.00) -7%$1.67$10.00 3%$1.67$10.00 3%$5.00$30.00 0%1011 120300 TEMPORARY PAVEMENT MARKEREA910 4.50$ 4,095.00$ 0%$2.25 $2,047.50-50%$2.00 $1,820.00-56%$5.60 $5,096.00 24%$3.28 $2,987.83 0% -27%($1.03) ($940.33)-31%($1.28) ($1,167.83) -39%$2.32 $2,108.17 71%$3.60 $3,276.00 0%1112 128652 PORTABLE CHANGEABLE MESSAGE SIGN (LS)LS1 70,000.00$ 70,000.00$ 0% $27,000.00 $27,000.00-61%$40,000.00 $40,000.00-43%$103,000.00 $103,000.00 47% $56,666.67 $56,666.67 0% -19% ($29,666.67) ($29,666.67)-52%($16,666.67) ($16,666.67) -29% $46,333.33 $46,333.33 82% $76,000.00 $76,000.00 0%1213 129000 TEMPORARY RAILING (TYPE K)LF18800 13.00$ 244,400.00$ 1%$15.00 $282,000.00 15%$18.00 $338,400.00 38%$13.50 $253,800.00 4%$15.50 $291,400.00 1% 19%($0.50) ($9,400.00) -3%$2.50 $47,000.00 16%($2.00) ($37,600.00) -13%$4.50 $84,600.00 0%1314 129110 TEMPORARY CRASH CUSHIONEA3 4,000.00$ 12,000.00$ 0%$7,800.00 $23,400.00 95% $9,000.00 $27,000.00 125% $10,000.00 $30,000.00 150% $8,933.33 $26,800.00 0% 123% ($1,133.33) ($3,400.00) -13%$66.67 $200.00 1% $1,066.67 $3,200.00 12% $2,200.00 $6,600.00 0%1415 129150 TEMPORARY TRAFFIC SCREENLF18800 3.40$ 63,920.00$ 0%$3.90 $73,320.00 15%$4.00 $75,200.00 18%$2.88 $54,144.00 -15%$3.59 $67,554.67 0% 6%$0.31 $5,765.33 9%$0.41 $7,645.33 11%($0.71) ($13,410.67) -20%$1.12 $21,056.00 0%1516 130100 JOB SITE MANAGEMENTLS1 58,500.00$ 58,500.00$ 0% $23,000.00 $23,000.00-61%$100,000.00 $100,000.00 71% $15,000.00 $15,000.00-74%$46,000.00 $46,000.00 0% -21% ($23,000.00) ($23,000.00)-50%$54,000.00 $54,000.00 117% ($31,000.00) ($31,000.00)-67%$85,000.00 $85,000.00 0%1617130300 PREPARE STORM WATER POLLUTION PREVENTION PLAN LS1 6,000.00$ 6,000.00$ 0%$7,500.00 $7,500.00 25% $1,750.00 $1,750.00-71%$3,500.00 $3,500.00-42%$4,250.00 $4,250.00 0% -29% $3,250.00 $3,250.00 76% ($2,500.00) ($2,500.00)-59%($750.00) ($750.00) -18% $5,750.00 $5,750.00 0%1718130310 RAIN EVENT ACTION PLANEA9 500.00$ 4,500.00$ 0%$260.00 $2,340.00-48%$250.00 $2,250.00-50%$560.00 $5,040.00 12%$356.67 $3,210.00 0% -29%($96.67) ($870.00) -27% ($106.67) ($960.00) -30%$203.33 $1,830.00 57%$310.00 $2,790.00 0%1819 130320 STORM WATER SAMPLING AND ANALYSIS DAYEA30 3,225.00$ 96,750.00$ 0%$420.00 $12,600.00-87%$200.00 $6,000.00-94%$280.00 $8,400.00-91%$300.00 $9,000.00 0% -91%$120.00 $3,600.00 40% ($100.00) ($3,000.00) -33%($20.00) ($600.00) -7%$220.00 $6,600.00 0%1920 130330 STORM WATER ANNUAL REPORTEA2 2,000.00$ 4,000.00$ 0%$2,100.00 $4,200.00 5%$500.00 $1,000.00-75%$900.00 $1,800.00-55%$1,166.67 $2,333.33 0% -42%$933.33 $1,866.67 80% ($666.67) ($1,333.33)-57%($266.67) ($533.33) -23% $1,600.00 $3,200.00 0%2021130500 TEMPORARY EROSION CONTROL BLANKETSQYD 4480 3.40$ 15,232.00$ 0%$3.60 $16,128.00 6%$7.00 $31,360.00 106%$3.75 $16,800.00 10%$4.78 $21,429.33 0% 41%($1.18) ($5,301.33) -25%$2.22 $9,930.67 46%($1.03) ($4,629.33) -22%$3.40 $15,232.00 0%2122 130530 TEMPORARY HYDRAULIC MULCH (BONDED FIBER MATRIX) SQYD 19800 0.85$ 16,830.00$ 0%$0.70 $13,860.00 -18%$1.00 $19,800.00 18%$0.73 $14,454.00 -14%$0.81 $16,038.00 0% -5%($0.11) ($2,178.00) -14%$0.19 $3,762.00 23%($0.08) ($1,584.00) -10%$0.30 $5,940.00 0%2223 130570 TEMPORARY COVERSQYD20 23.00$ 460.00$ 0%$50.00 $1,000.00 117%$10.00 $200.00-57%$32.00 $640.00 39%$30.67 $613.33 0% 33%$19.33 $386.67 63%($20.67) ($413.33)-67%$1.33$26.67 4%$40.00 $800.00 0%2324130620 TEMPORARY DRAINAGE INLET PROTECTIONEA70 263.00$ 18,410.00$ 0%$200.00 $14,000.00 -24%$300.00 $21,000.00 14%$280.00 $19,600.00 6%$260.00 $18,200.00 0% -1%($60.00) ($4,200.00) -23%$40.00 $2,800.00 15%$20.00 $1,400.00 8%$100.00 $7,000.00 0%2425 130640 TEMPORARY FIBER ROLLLF5980 3.00$ 17,940.00$ 0%$3.04 $18,179.20 1%$5.00 $29,900.00 67%$3.15 $18,837.00 5%$3.73 $22,305.40 0% 24%($0.69) ($4,126.20) -18%$1.27 $7,594.60 34%($0.58) ($3,468.40) -16%$1.96 $11,720.80 0%2526 130680 TEMPORARY SILT FENCELF5730 4.25$ 24,352.50$ 0%$3.04 $17,419.20 -28%$4.00 $22,920.00 -6%$4.00 $22,920.00 -6%$3.68 $21,086.40 0% -13%($0.64) ($3,667.20) -17%$0.32 $1,833.60 9%$0.32 $1,833.60 9%$0.96 $5,500.80 0%2627 130710 TEMPORARY CONSTRUCTION ENTRANCEEA3 4,400.00$ 13,200.00$ 0%$5,600.00 $16,800.00 27% $10,000.00 $30,000.00 127% $7,600.00 $22,800.00 73% $7,733.33 $23,200.00 0% 76% ($2,133.33) ($6,400.00) -28% $2,266.67 $6,800.00 29% ($133.33) ($400.00) -2% $4,400.00 $13,200.00 0%2728 130730 STREET SWEEPINGLS1 21,900.00$ 21,900.00$ 0% $140,000.00 $140,000.00539%$150,000.00 $150,000.00585%$20,000.00 $20,000.00 -9% $103,333.33 $103,333.33 0% 372% $36,666.67 $36,666.67 35% $46,666.67 $46,666.67 45% ($83,333.33) ($83,333.33)-81%$130,000.00 $130,000.00 1%2829130900 TEMPORARY CONCRETE WASHOUTLS1 47,100.00$ 47,100.00$ 0% $43,000.00 $43,000.00 -9% $30,000.00 $30,000.00 -36% $15,000.00 $15,000.00-68%$29,333.33 $29,333.33 0% -38% $13,666.67 $13,666.67 47%$666.67 $666.67 2% ($14,333.33) ($14,333.33)-49%$28,000.00 $28,000.00 0%2930141120 TREATED WOOD WASTELB26500 0.35$ 9,275.00$ 0%$0.20 $5,300.00-43%$0.15 $3,975.00-57%$0.20 $5,300.00-43%$0.18 $4,858.33 0% -48%$0.02 $441.67 9%($0.03) ($883.33) -18%$0.02 $441.67 9%$0.05 $1,325.00 0%3031 146002 CONTRACTOR-SUPPLIED BIOLOGIST (LS)LS1 25,000.00$ 25,000.00$ 0% $54,000.00 $54,000.00 116% $20,000.00 $20,000.00 -20% $25,000.00 $25,000.00 0% $33,000.00 $33,000.00 0% 32% $21,000.00 $21,000.00 64% ($13,000.00) ($13,000.00) -39% ($8,000.00) ($8,000.00) -24% $34,000.00 $34,000.00 0%3132 146007 INVASIVE SPECIES CONTROLLS1 5,000.00$ 5,000.00$ 0% $25,000.00 $25,000.00400%$150,000.00 $150,000.002900%$10,000.00 $10,000.00 100% $61,666.67 $61,666.67 0% 1133% ($36,666.67) ($36,666.67)-59%$88,333.33 $88,333.33 143% ($51,666.67) ($51,666.67)-84%$140,000.00 $140,000.00 1%3233148005 NOISE MONITORINGLS1 10,000.00$ 10,000.00$ 0% $20,000.00 $20,000.00 100% $2,000.00 $2,000.00-80%$5,000.00 $5,000.00-50%$9,000.00 $9,000.00 0% -10% $11,000.00 $11,000.00 122% ($7,000.00) ($7,000.00)-78%($4,000.00) ($4,000.00)-44%$18,000.00 $18,000.00 0%3334160110 TEMPORARY HIGH-VISIBILITY FENCELF4160 6.00$ 24,960.00$ 0%$2.60 $10,816.00-57%$4.00 $16,640.00 -33%$5.00 $20,800.00 -17%$3.87 $16,085.330% -36%($1.27) ($5,269.33) -33%$0.13 $554.67 3%$1.13 $4,714.67 29%$2.40 $9,984.00 0%3435 170103 CLEARING AND GRUBBING (LS)LS1 50,000.00$ 50,000.00$ 0% $45,000.00 $45,000.00 -10% $56,000.00 $56,000.00 12% $58,000.00 $58,000.00 16% $53,000.00 $53,000.00 0% 6% ($8,000.00) ($8,000.00) -15% $3,000.00 $3,000.00 6% $5,000.00 $5,000.00 9% $13,000.00 $13,000.00 0%3536 190101 ROADWAY EXCAVATIONCY11200 28.00$ 313,600.00$ 1%$29.00 $324,800.00 4%$25.00 $280,000.00 -11%$32.00 $358,400.00 14%$28.67 $321,066.67 1% 2%$0.33 $3,733.33 1%($3.67) ($41,066.67) -13%$3.33 $37,333.33 12%$7.00 $78,400.00 0%3637 192003 STRUCTURE EXCAVATION (BRIDGE)CY228 90.00$ 20,520.00$ 0%$42.00 $9,576.00-53%$65.00 $14,820.00 -28%$90.00 $20,520.00 0%$65.67 $14,972.00 0% -27%($23.67) ($5,396.00) -36%($0.67) ($152.00) -1%$24.33 $5,548.00 37%$48.00 $10,944.00 0%3738 192037 STRUCTURE EXCAVATION (RETAINING WALL)CY6804 115.00$ 782,460.00$ 3%$75.00 $510,300.00 -35%$56.00 $381,024.00-51%$76.00 $517,104.00 -34%$69.00 $469,476.00 2% -40%$6.00 $40,824.00 9%($13.00) ($88,452.00) -19%$7.00 $47,628.00 10%$20.00 $136,080.00 1%3839 193003 STRUCTURE BACKFILL (BRIDGE)CY451 100.00$ 45,100.00$ 0%$37.00 $16,687.00-63%$35.00 $15,785.00-65%$82.00 $36,982.00 -18%$51.33 $23,151.33 0% -49%($14.33) ($6,464.33) -28%($16.33) ($7,366.33) -32%$30.67 $13,830.67 60%$47.00 $21,197.00 0%3940 193013 STRUCTURE BACKFILL (RETAINING WALL)CY4517 70.00$ 316,190.00$ 1%$25.00 $112,925.00-64%$34.00 $153,578.00-51%$90.00 $406,530.00 29%$49.67 $224,344.33 1% -29%($24.67) ($111,419.33)-50%($15.67) ($70,766.33) -32%$40.33 $182,185.67 81%$65.00 $293,605.00 1%4041 193030 PERVIOUS BACKFILL MATERIALCY583 150.00$ 87,450.00$ 0%$55.00 $32,065.00-63%$95.00 $55,385.00 -37%$103.00 $60,049.00 -31%$84.33 $49,166.33 0% -44%($29.33) ($17,101.33) -35%$10.67 $6,218.67 13%$18.67 $10,882.67 22%$48.00 $27,984.00 0%4142 198010 IMPORTED BORROW (CY)CY27300 24.00$ 655,200.00$ 3%$5.00 $136,500.00-79%$20.00 $546,000.00 -17%$2.06 $56,238.00-91%$9.02 $246,246.00 1% -62%($4.02) ($109,746.00)-45%$10.98 $299,754.00 122%($6.96) ($190,008.00)-77%$17.94 $489,762.00 2%4243206405 REMOVE IRRIGATION FACILITYLS1 10,000.00$ 10,000.00$ 0%$2,525.00 $2,525.00-75%$2,500.00 $2,500.00-75%$3,000.00 $3,000.00-70%$2,675.00 $2,675.00 0% -73% ($150.00) ($150.00) -6% ($175.00) ($175.00) -7%$325.00 $325.00 12%$500.00 $500.00 0%4344 210280 ROLLED EROSION CONTROL PRODUCT (BLANKET)SQFT 20800 1.15$ 23,920.00$ 0%$0.61 $12,688.00-47%$0.60 $12,480.00-48%$0.64 $13,312.00-44%$0.62 $12,826.67 0% -46%($0.01) ($138.67) -1%($0.02) ($346.67) -3%$0.02 $485.33 4%$0.04 $832.00 0%4445 210300 HYDROMULCHSQFT 165000 0.10$ 16,500.00$ 0%$0.03 $4,950.00-70%$0.03 $4,950.00-70%$0.04 $6,600.00-60%$0.03 $5,500.00 0% -67%($0.00) ($550.00) -10%($0.00) ($550.00) -10%$0.01 $1,100.00 20%$0.01 $1,650.00 0%4546 210350 FIBER ROLLSLF7730 4.00$ 30,920.00$ 0%$3.05 $23,576.50 -24%$3.80 $29,374.00 -5%$3.30 $25,509.00 -18%$3.38 $26,153.17 0% -15%($0.33) ($2,576.67) -10%$0.42 $3,220.83 12%($0.08) ($644.17) -2%$0.75 $5,797.50 0%4647 210420 STRAWSQFT 165000 0.10$ 16,500.00$ 0%$0.07 $11,550.00 -30%$0.07 $11,550.00 -30%$0.08 $13,200.00 -20%$0.07 $12,100.00 0% -27%($0.00) ($550.00) -5%($0.00) ($550.00) -5%$0.01 $1,100.00 9%$0.01 $1,650.00 0%4748 210430 HYDROSEEDSQFT 165000 0.15$ 24,750.00$ 0%$0.05 $8,250.00-67%$0.05 $8,250.00-67%$0.06 $9,900.00-60%$0.05 $8,800.00 0% -64%($0.00) ($550.00) -6%($0.00) ($550.00) -6%$0.01 $1,100.00 13%$0.01 $1,650.00 0%4849 210610 COMPOST (CY)CY2030 50.00$ 101,500.00$ 0%$50.50 $102,515.00 1%$50.00 $101,500.00 0%$53.00 $107,590.00 6%$51.17 $103,868.33 0% 2%($0.67) ($1,353.33) -1%($1.17) ($2,368.33) -2%$1.83 $3,721.67 4%$3.00 $6,090.00 0%4950 210630 INCORPORATE MATERIALSSQFT 165000 0.20$ 33,000.00$ 0%$0.04 $6,600.00-80%$0.04 $6,600.00-80%$0.05 $8,250.00-75%$0.04 $7,150.00 0% -78%($0.00) ($550.00) -8%($0.00) ($550.00) -8%$0.01 $1,100.00 15%$0.01 $1,650.00 0%5051 250201 CLASS 2 AGGREGATE SUBBASECY4160 40.00$ 166,400.00$ 1%$16.50 $68,640.00-59%$37.00 $153,920.00 -8%$38.00 $158,080.00 -5%$30.50 $126,880.00 0% -24%($14.00) ($58,240.00)-46%$6.50 $27,040.00 21%$7.50 $31,200.00 25%$21.50 $89,440.00 0%5152 260203 CLASS 2 AGGREGATE BASE (CY)CY1300 80.00$ 104,000.00$ 0%$72.00 $93,600.00 -10%$72.00 $93,600.00 -10%$64.40 $83,720.00 -20%$69.47 $90,306.67 0% -13%$2.53 $3,293.33 4%$2.53 $3,293.33 4%($5.07) ($6,586.67) -7%$7.60 $9,880.00 0%5253 280000 LEAN CONCRETE BASECY1840 220.00$ 404,800.00$ 2%$150.00 $276,000.00 -32%$260.00 $478,400.00 18%$189.00 $347,760.00 -14%$199.67 $367,386.67 1% -9%($49.67) ($91,386.67) -25%$60.33 $111,013.33 30%($10.67) ($19,626.67) -5%$110.00 $202,400.00 1%5354 377501 SLURRY SEALTON23 250.00$ 5,750.00$ 0%$3,000.00 $69,000.001100%$525.00 $12,075.00 110% $3,400.00 $78,200.001260%$2,308.33 $53,091.67 0% 823%$691.67 $15,908.33 30% ($1,783.33) ($41,016.67)-77%$1,091.67 $25,108.33 47% $2,875.00 $66,125.00 0%5455390100 PRIME COATTON2.1 2,000.00$ 4,200.00$ 0%$1,570.00 $3,297.00 -22% $1,200.00 $2,520.00 -40% $1,400.00 $2,940.00 -30% $1,390.00 $2,919.00 0% -31%$180.00 $378.00 13% ($190.00) ($399.00) -14%$10.00$21.00 1%$370.00 $777.00 0%5556 390132 HOT MIX ASPHALT (TYPE A)TON2210 120.00$ 265,200.00$ 1%$120.00 $265,200.00 0%$105.00 $232,050.00 -13%$110.00 $243,100.00 -8%$111.67 $246,783.33 1% -7%$8.33 $18,416.67 7%($6.67) ($14,733.33) -6%($1.67) ($3,683.33) -1%$15.00 $33,150.00 0%5657 390137 RUBBERIZED HOT MIX ASPHALT (GAP GRADED)TON790 130.00$ 102,700.00$ 0%$114.00 $90,060.00 -12%$105.00 $82,950.00 -19%$108.00 $85,320.00 -17%$109.00 $86,110.00 0% -16%$5.00 $3,950.00 5%($4.00) ($3,160.00) -4%($1.00) ($790.00) -1%$9.00 $7,110.00 0%5758 394074 PLACE HOT MIX ASPHALT DIKE (TYPE C)LF130 10.00$ 1,300.00$ 0%$9.00 $1,170.00 -10%$5.05 $656.50-50%$13.00 $1,690.00 30%$9.02 $1,172.17 0% -10%($0.02) ($2.17) 0%($3.97) ($515.67)-44%$3.98 $517.83 44%$7.95 $1,033.50 0%5859394075 PLACE HOT MIX ASPHALT DIKE (TYPE D)LF220 10.00$ 2,200.00$ 0%$9.00 $1,980.00 -10%$5.05 $1,111.00-50%$13.00 $2,860.00 30%$9.02 $1,983.67 0% -10%($0.02) ($3.67) 0%($3.97) ($872.67)-44%$3.98 $876.33 44%$7.95 $1,749.00 0%5960394077 PLACE HOT MIX ASPHALT DIKE (TYPE F)LF690 10.00$ 6,900.00$ 0%$9.00 $6,210.00 -10%$5.05 $3,484.50-50%$13.00 $8,970.00 30%$9.02 $6,221.50 0% -10%($0.02) ($11.50)0%($3.97) ($2,737.00)-44%$3.98 $2,748.50 44%$7.95 $5,485.50 0%6061397005 TACK COATTON2.5 1,300.00$ 3,250.00$ 0%$2,900.00 $7,250.00 123%$750.00 $1,875.00-42%$900.00 $2,250.00 -31% $1,516.67 $3,791.67 0% 17% $1,383.33 $3,458.33 91% ($766.67) ($1,916.67)-51%($616.67) ($1,541.67)-41%$2,150.00 $5,375.00 0%6162398001 REMOVE ASPHALT CONCRETE PAVEMENT (SQFT)SQFT 65100 2.00$ 130,200.00$ 1%$0.65 $42,315.00-68%$1.65 $107,415.00 -18%$0.78 $50,778.00-61%$1.03 $66,836.00 0% -49%($0.38) ($24,521.00) -37%$0.62 $40,579.00 61%($0.25) ($16,058.00) -24%$1.00 $65,100.00 0%6263 398100 REMOVE ASPHALT CONCRETE DIKELF2080 10.00$ 20,800.00$ 0%$2.70 $5,616.00-73%$1.75 $3,640.00-83%$3.65 $7,592.00-64%$2.70 $5,616.00 0% -73%$0.00$0.00 0%($0.95) ($1,976.00) -35%$0.95 $1,976.00 35%$1.90 $3,952.00 0%6364 398200 COLD PLANE ASPHALT CONCRETE PAVEMENTSQYD 3950 15.00$ 59,250.00$ 0%$5.20 $20,540.00-65%$5.85 $23,107.50-61%$3.80 $15,010.00-75%$4.95 $19,552.50 0% -67%$0.25 $987.50 5%$0.90 $3,555.00 18%($1.15) ($4,542.50) -23%$2.05 $8,097.50 0%6465 401050 JOINTED PLAIN CONCRETE PAVEMENTCY6110 280.00$ 1,710,800.00$ 7%$295.00 $1,802,450.00 5%$275.00 $1,680,250.00 -2%$275.00 $1,680,250.00 -2%$281.67 $1,720,983.337%1%$13.33 $81,466.67 5%($6.67) ($40,733.33) -2%($6.67) ($40,733.33) -2%$20.00 $122,200.00 0%6566 414241 ISOLATION JOINT SEAL (SILICONE)LF6730 10.00$ 67,300.00$ 0%$7.30 $49,129.00 -27%$4.06 $27,323.80-59%$9.60 $64,608.00 -4%$6.99 $47,020.27 0% -30%$0.31 $2,108.734%($2.93) ($19,696.47)-42%$2.61 $17,587.73 37%$5.54 $37,284.20 0%6667418006 REMOVE CONCRETE PAVEMENT (CY)CY2920 180.00$ 525,600.00$ 2%$40.00 $116,800.00-78%$60.00 $175,200.00-67%$21.50 $62,780.00-88%$40.50 $118,260.00 0% -78%($0.50) ($1,460.00) -1%$19.50 $56,940.00 48%($19.00) ($55,480.00)-47%$38.50 $112,420.00 0%6768420201 GRIND EXISTING CONCRETE PAVEMENTSQYD 8980 8.00$ 71,840.00$ 0%$9.00 $80,820.00 13%$3.50 $31,430.00-56%$3.55 $31,879.00-56%$5.35 $48,043.00 0% -33%$3.65 $32,777.00 68%($1.85) ($16,613.00) -35%($1.80) ($16,164.00) -34%$5.50 $49,390.00 0%6869 460200 GROUND ANCHOR (VERTICAL)EA33 3,550.00$ 117,150.00$ 0%$5,745.00 $189,585.00 62% $3,000.00 $99,000.00 -15% $7,500.00 $247,500.00 111% $5,415.00 $178,695.00 1% 53%$330.00 $10,890.00 6% ($2,415.00) ($79,695.00)-45%$2,085.00 $68,805.00 39% $4,500.00 $148,500.00 1%6970477022 MECHANICALLY STABILIZED EMBANKMENT, LOCATION B SQFT 4581 90.00$ 412,290.00$ 2%$92.00 $421,452.00 2%$65.00 $297,765.00 -28%$78.00 $357,318.00 -13%$78.33 $358,845.00 1% -13%$13.67 $62,607.00 17%($13.33) ($61,080.00) -17%($0.33) ($1,527.00) 0%$27.00 $123,687.00 0%7071 477023 MECHANICALLY STABILIZED EMBANKMENT, LOCATION C SQFT 4306 90.00$ 387,540.00$ 2%$82.00 $353,092.00 -9%$65.00 $279,890.00 -28%$82.00 $353,092.00 -9%$76.33 $328,691.33 1% -15%$5.67 $24,400.67 7%($11.33) ($48,801.33) -15%$5.67 $24,400.67 7%$17.00 $73,202.00 0%7172 490528 FURNISH STEEL PILING (HP 14 X 89)LF18100 55.00$ 995,500.00$ 4%$45.00 $814,500.00 -18%$42.00 $760,200.00 -24%$45.00 $814,500.00 -18%$44.00 $796,400.00 3% -20%$1.00 $18,100.00 2%($2.00) ($36,200.00) -5%$1.00 $18,100.00 2%$3.00 $54,300.00 0%7273 490529 DRIVE STEEL PILE (HP 14 X 89)EA730 2,500.00$ 1,825,000.00$ 7%$1,300.00 $949,000.00-48%$850.00 $620,500.00-66%$1,033.00 $754,090.00-59%$1,061.00 $774,530.00 3% -58%$239.00 $174,470.00 23% ($211.00) ($154,030.00) -20%($28.00) ($20,440.00) -3%$450.00 $328,500.00 1%7374 490780 FURNISH PILING (CLASS 200)LF1390 55.00$ 76,450.00$ 0%$30.00 $41,700.00-45%$66.00 $91,740.00 20%$71.00 $98,690.00 29%$55.67 $77,376.67 0% 1%($25.67) ($35,676.67)-46%$10.33 $14,363.33 19%$15.33 $21,313.33 28%$41.00 $56,990.00 0%7475 490781 DRIVE PILE (CLASS 200)EA62 2,500.00$ 155,000.00$ 1%$1,300.00 $80,600.00-48%$1,400.00 $86,800.00-44%$1,800.00 $111,600.00 -28% $1,500.00 $93,000.00 0% -40% ($200.00) ($12,400.00) -13% ($100.00) ($6,200.00) -7%$300.00 $18,600.00 20%$500.00 $31,000.00 0%7576 510051 STRUCTURAL CONCRETE, BRIDGE FOOTINGCY18 500.00$ 9,000.00$ 0%$800.00 $14,400.00 60% $1,100.00 $19,800.00 120%$820.00 $14,760.00 64%$906.67 $16,320.00 0% 81% ($106.67) ($1,920.00) -12%$193.33 $3,480.00 21%($86.67) ($1,560.00) -10%$300.00 $5,400.00 0%7677 510053 STRUCTURAL CONCRETE, BRIDGECY200 1,100.00$ 220,000.00$ 1%$600.00 $120,000.00-45%$1,000.00 $200,000.00 -9% $1,150.00 $230,000.00 5%$916.67 $183,333.33 1% -17% ($316.67) ($63,333.33) -35%$83.33 $16,666.67 9%$233.33 $46,666.67 25%$550.00 $110,000.00 0%7778 510054 STRUCTURAL CONCRETE, BRIDGE (POLYMER FIBER) CY21 1,100.00$ 23,100.00$ 0%$2,000.00 $42,000.00 82% $1,700.00 $35,700.00 55%$336.00 $7,056.00-69%$1,345.33 $28,252.00 0% 22%$654.67 $13,748.00 49%$354.67 $7,448.00 26% ($1,009.33) ($21,196.00)-75%$1,664.00 $34,944.00 0%7879510060 STRUCTURAL CONCRETE, RETAINING WALLCY4489 650.00$ 2,917,850.00$ 11%$445.00 $1,997,605.00 -32%$560.00 $2,513,840.00 -14%$517.00 $2,320,813.00 -20%$507.33 $2,277,419.339%-22%($62.33) ($279,814.33) -12%$52.67 $236,420.67 10%$9.67 $43,393.67 2%$115.00 $516,235.00 2%7980 510094 STRUCTURAL CONCRETE, DRAINAGE INLETCY61.5 3,000.00$ 184,500.00$ 1%$1,350.00 $83,025.00-55%$2,980.00 $183,270.00 -1% $2,500.00 $153,750.00 -17% $2,276.67 $140,015.00 1% -24% ($926.67) ($56,990.00)-41%$703.33 $43,255.00 31%$223.33 $13,735.00 10% $1,630.00 $100,245.00 0%8081 510502 MINOR CONCRETE (MINOR STRUCTURE)CY3.4 2,000.00$ 6,800.00$ 0%$1,100.00 $3,740.00-45%$990.00 $3,366.00-51%$1,050.00 $3,570.00-48%$1,046.67 $3,558.67 0% -48%$53.33 $181.33 5%($56.67) ($192.67) -5%$3.33$11.33 0%$110.00 $374.00 0%8182 511055 CONCRETE SURFACE TEXTURESQFT 16438 15.00$ 246,570.00$ 1%$12.00 $197,256.00 -20%$13.00 $213,694.00 -13%$27.00 $443,826.00 80%$17.33 $284,925.33 1% 16%($5.33) ($87,669.33) -31%($4.33) ($71,231.33) -25%$9.67 $158,900.67 56%$15.00 $246,570.00 1%8283 511106 DRILL AND BOND DOWELLF57 30.00$ 1,710.00$ 0%$51.00 $2,907.00 70%$36.00 $2,052.00 20%$85.00 $4,845.00183%$57.33 $3,268.00 0% 91%($6.33) ($361.00) -11%($21.33) ($1,216.00) -37%$27.67 $1,577.00 48%$49.00 $2,793.00 0%8384 520102 BAR REINFORCING STEEL (BRIDGE)LB55381 1.10$ 60,919.10$ 0%$0.96 $53,165.76 -13%$1.15 $63,688.15 5%$2.00 $110,762.00 82%$1.37 $75,871.97 0% 25%($0.41) ($22,706.21) -30%($0.22) ($12,183.82) -16%$0.63 $34,890.03 46%$1.04 $57,596.24 0%8485 520103 BAR REINFORCING STEEL (RETAINING WALL)LB 505451 1.10$ 555,996.10$ 2%$1.00 $505,451.00 -9%$1.15 $581,268.65 5%$1.30 $657,086.30 18%$1.15 $581,268.65 2% 5%($0.15) ($75,817.65) -13%$0.00$0.00 0%$0.15 $75,817.65 13%$0.30 $151,635.30 1%8586 520115 BAR REINFORCING STEEL (GALVANIZED)LB1603 1.20$ 1,923.60$ 0%$2.60 $4,167.80 117%$3.00 $4,809.00 150%$2.35 $3,767.05 96%$2.65 $4,247.95 0% 121%($0.05) ($80.15) -2%$0.35 $561.05 13%($0.30) ($480.90) -11%$0.65 $1,041.95 0%8687 560208 FURNISH SIGN STRUCTURE (TUBULAR)LB49130 5.00$ 245,650.00$ 1%$4.60 $225,998.00 -8%$4.00 $196,520.00 -20%$4.60 $225,998.00 -8%$4.40 $216,172.00 1% -12%$0.20 $9,826.00 5%($0.40) ($19,652.00) -9%$0.20 $9,826.00 5%$0.60 $29,478.00 0%8788 560209 INSTALL SIGN STRUCTURE (TUBULAR)LB49130 0.50$ 24,565.00$ 0%$0.75 $36,847.50 50%$0.50 $24,565.00 0%$0.70 $34,391.00 40%$0.65 $31,934.50 0% 30%$0.10 $4,913.00 15%($0.15) ($7,369.50) -23%$0.05 $2,456.50 8%$0.25 $12,282.50 0%8889 568046 REMOVE SIGN STRUCTURE (EA)EA3 3,000.00$ 9,000.00$ 0%$9,700.00 $29,100.00223%$6,000.00 $18,000.00 100% $9,000.00 $27,000.00200%$8,233.33 $24,700.00 0% 174% $1,466.67 $4,400.00 18% ($2,233.33) ($6,700.00) -27%$766.67 $2,300.00 9% $3,700.00 $11,100.00 0%8990 600114 BRIDGE REMOVAL (PORTION)LS1 7,000.00$ 7,000.00$ 0% $15,000.00 $15,000.00 114% $10,000.00 $10,000.00 43% $29,000.00 $29,000.00314%$18,000.00 $18,000.00 0% 157% ($3,000.00) ($3,000.00) -17% ($8,000.00) ($8,000.00)-44%$11,000.00 $11,000.00 61% $19,000.00 $19,000.00 0%9091600130A RETAINING WALL REMOVAL (PORTION), LOCATION A LS1 100,000.00$ 100,000.00$ 0% $140,000.00 $140,000.00 40% $150,000.00 $150,000.00 50% $115,000.00 $115,000.00 15% $135,000.00 $135,000.00 1% 35% $5,000.00 $5,000.00 4% $15,000.00 $15,000.00 11% ($20,000.00) ($20,000.00) -15% $35,000.00 $35,000.00 0%9192 600130B RETAINING WALL REMOVAL (PORTION), LOCATION B LS1 30,000.00$ 30,000.00$ 0% $46,000.00 $46,000.00 53%$12.00$12.00-100%$75,000.00 $75,000.00 150% $40,337.33 $40,337.33 0% 34% $5,662.67 $5,662.67 14% ($40,325.33) ($40,325.33)-100%$34,662.67 $34,662.67 86% $74,988.00 $74,988.00 0%9293600130C RETAINING WALL REMOVAL (PORTION), LOCATION C LS1 105,000.00$ 105,000.00$ 0% $150,000.00 $150,000.00 43% $150,000.00 $150,000.00 43% $143,000.00 $143,000.00 36% $147,666.67 $147,666.67 1% 41% $2,333.33 $2,333.33 2% $2,333.33 $2,333.33 2% ($4,666.67) ($4,666.67) -3% $7,000.00 $7,000.00 0%9394 600130R RETAINING WALL REMOVAL (PORTION), LOCATION D LS1 60,000.00$ 60,000.00$ 0% $90,000.00 $90,000.00 50% $85,000.00 $85,000.00 42% $53,000.00 $53,000.00 -12% $76,000.00 $76,000.00 0% 27% $14,000.00 $14,000.00 18% $9,000.00 $9,000.00 12% ($23,000.00) ($23,000.00) -30% $37,000.00 $37,000.00 0%9495 610108 18" ALTERNATIVE PIPE CULVERTLF170 200.00$ 34,000.00$ 0%$38.00 $6,460.00-81%$128.00 $21,760.00 -36%$103.00 $17,510.00-49%$89.67 $15,243.33 0% -55%($51.67) ($8,783.33)-58%$38.33 $6,516.67 43%$13.33 $2,266.67 15%$90.00 $15,300.00 0%9596 610300 CONCRETE BACKFILL (PIPE TRENCH)CY20.2 125.00$ 2,525.00$ 0%$150.00 $3,030.00 20%$350.00 $7,070.00180%$333.00 $6,726.60166%$277.67 $5,608.87 0% 122% ($127.67) ($2,578.87)-46%$72.33 $1,461.13 26%$55.33 $1,117.73 20%$200.00 $4,040.00 0%9697 650014 18" REINFORCED CONCRETE PIPELF270 181.00$ 48,870.00$ 0%$80.00 $21,600.00-56%$120.00 $32,400.00 -34%$97.00 $26,190.00-46%$99.00 $26,730.00 0% -45%($19.00) ($5,130.00) -19%$21.00 $5,670.00 21%($2.00) ($540.00) -2%$40.00 $10,800.00 0%9798 650018 24" REINFORCED CONCRETE PIPELF1470 200.00$ 294,000.00$ 1%$85.00 $124,950.00-58%$127.00 $186,690.00 -37%$98.00 $144,060.00-51%$103.33 $151,900.00 1% -48%($18.33) ($26,950.00) -18%$23.67 $34,790.00 23%($5.33) ($7,840.00) -5%$42.00 $61,740.00 0%9899 65231624" REINFORCED CONCRETE PIPE (CLASS III, RUBBER GASKET JOINT)LF280 250.00$ 70,000.00$ 0%$110.00 $30,800.00-56%$129.00 $36,120.00-48%$100.00 $28,000.00-60%$113.00 $31,640.00 0% -55%($3.00) ($840.00) -3%$16.00 $4,480.00 14%($13.00) ($3,640.00) -12%$29.00 $8,120.00 0%99100 665023 24" CORRUGATED STEEL PIPE (.079" THICK)LF64 200.00$ 12,800.00$ 0%$165.00 $10,560.00 -18%$187.00 $11,968.00 -7%$161.00 $10,304.00 -20%$171.00 $10,944.00 0% -15%($6.00) ($384.00) -4%$16.00 $1,024.00 9%($10.00) ($640.00) -6%$26.00 $1,664.00 0%100101 665036 36" CORRUGATED STEEL PIPE (.079" THICK)LF13 350.00$ 4,550.00$ 0%$540.00 $7,020.00 54%$569.00 $7,397.00 63%$533.00 $6,929.00 52%$547.33 $7,115.33 0% 56%($7.33) ($95.33) -1%$21.67 $281.67 4%($14.33) ($186.33) -3%$36.00 $468.00 0%101102 681132 GEOCOMPOSITE DRAINSQFT 1480 3.00$ 4,440.00$ 0%$3.50 $5,180.00 17%$2.00 $2,960.00 -33%$25.00 $37,000.00733%$10.17 $15,046.67 0% 239%($6.67) ($9,866.67)-66%($8.17) ($12,086.67)-80%$14.83 $21,953.33 146%$23.00 $34,040.00 0%102103 700617 DRAINAGE INLET MARKEREA2 163.00$ 326.00$ 0%$35.00$70.00-79%$350.00 $700.00 115%$320.00 $640.00 96%$235.00 $470.00 0% 44% ($200.00) ($400.00)-85%$115.00 $230.00 49%$85.00 $170.00 36%$315.00 $630.00 0%103104 703211 12" CORRUGATED STEEL PIPE RISER (.079" THICK)LF10 500.00$ 5,000.00$ 0%$360.00 $3,600.00 -28%$263.00 $2,630.00-47%$255.00 $2,550.00-49%$292.67 $2,926.67 0% -41%$67.33 $673.33 23%($29.67) ($296.67) -10%($37.67) ($376.67) -13%$105.00 $1,050.00 0%104105 703217 18" CORRUGATED STEEL PIPE RISER (.079" THICK)LF42 350.00$ 14,700.00$ 0%$510.00 $21,420.00 46%$280.00 $11,760.00 -20%$265.00 $11,130.00 -24%$351.67 $14,770.00 0% 0%$158.33 $6,650.00 45%($71.67) ($3,010.00) -20%($86.67) ($3,640.00) -25%$245.00 $10,290.00 0%105BID PRICES AND AMOUNTSVARIANCE FROM AVERAGE OF BIDSSpread(High Minus Low)OHL USA, Inc.Walsh Construction Co.Griffith CompanyAverage of Bid AmountsLow BidderSecond BidderThird BidderOHL USA, Inc.Walsh Construction Co.Griffith CompanyENGINEER'S ESTIMATEATTACHMENT 364 Bid Results for Project RCTC - SR-91 CORRIDOR OPERATIONS PROJECT (IFB NO. 20-31-069-00)Issued on 05/21/2020Yellow items are >$100k below Engineer's EstimateBid Due on July 2, 2020 2:00 PM (Pacific)Item Num Item CodeDescriptionUnit Quantity Unit Price Total % of EE Unit Price Total% VAR of EE Unit Price Total% VAR of EE Unit Price Total% VAR of EE Unit Price Total% of Total% VAR of EE Unit Price Total% VAR to AVE Unit Price Total% VAR to AVE Unit Price Total% VAR to AVE Price Spread Amount Spread% Total Ave. Item NumBID PRICES AND AMOUNTSVARIANCE FROM AVERAGE OF BIDSSpread(High Minus Low)OHL USA, Inc.Walsh Construction Co.Griffith CompanyAverage of Bid AmountsLow BidderSecond BidderThird BidderOHL USA, Inc.Walsh Construction Co.Griffith CompanyENGINEER'S ESTIMATE106 707117 36" PRECAST CONCRETE PIPE INLETLF5.1 650.00$ 3,315.00$ 0%$970.00 $4,947.00 49%$670.00 $3,417.00 3%$700.00 $3,570.00 8%$780.00 $3,978.00 0% 20%$190.00 $969.00 24% ($110.00) ($561.00) -14%($80.00) ($408.00) -10%$300.00 $1,530.00 0%106107 710102 ABANDON CULVERT (LF)LF190 97.00$ 18,430.00$ 0%$35.00 $6,650.00-64%$45.00 $8,550.00-54%$41.00 $7,790.00-58%$40.33 $7,663.33 0% -58%($5.33) ($1,013.33) -13%$4.67 $886.67 12%$0.67 $126.67 2%$10.00 $1,900.00 0%107108 710262 CAP INLETEA9 1,900.00$ 17,100.00$ 0%$3,350.00 $30,150.00 76% $1,930.00 $17,370.00 2% $1,800.00 $16,200.00 -5% $2,360.00 $21,240.00 0% 24%$990.00 $8,910.00 42% ($430.00) ($3,870.00) -18% ($560.00) ($5,040.00) -24% $1,550.00 $13,950.00 0%108109 710136 REMOVE PIPE (LF)LF1190 113.00$ 134,470.00$ 1%$30.00 $35,700.00-73%$22.00 $26,180.00-81%$21.00 $24,990.00-81%$24.33 $28,956.67 0% -78%$5.67 $6,743.33 23%($2.33) ($2,776.67) -10%($3.33) ($3,966.67) -14%$9.00 $10,710.00 0%109110 710150 REMOVE INLETEA20 1,500.00$ 30,000.00$ 0%$940.00 $18,800.00 -37%$12.00 $240.00-99%$1,200.00 $24,000.00 -20%$717.33 $14,346.67 0% -52%$222.67 $4,453.33 31% ($705.33) ($14,106.67)-98%$482.67 $9,653.33 67% $1,188.00 $23,760.00 0%110111 710260 REMOVE CONCRETE (CHANNEL)CY180 168.00$ 30,240.00$ 0%$80.00 $14,400.00-52%$60.00 $10,800.00-64%$136.00 $24,480.00 -19%$92.00 $16,560.00 0% -45%($12.00) ($2,160.00) -13%($32.00) ($5,760.00) -35%$44.00 $7,920.00 48%$76.00 $13,680.00 0%111112 730020 MINOR CONCRETE (CURB) (CY)CY20 1,200.00$ 24,000.00$ 0%$670.00 $13,400.00-44%$1,275.00 $25,500.00 6%$855.00 $17,100.00 -29%$933.33 $18,666.67 0% -22% ($263.33) ($5,266.67) -28%$341.67 $6,833.33 37%($78.33) ($1,566.67) -8%$605.00 $12,100.00 0%112113 730040 MINOR CONCRETE (GUTTER) (LF)LF770 40.00$ 30,800.00$ 0%$32.00 $24,640.00 -20%$48.00 $36,960.00 20%$56.00 $43,120.00 40%$45.33 $34,906.67 0% 13%($13.33) ($10,266.67) -29%$2.67 $2,053.33 6%$10.67 $8,213.33 24%$24.00 $18,480.00 0%113114 731502 MINOR CONCRETE (MISCELLANEOUS CONSTRUCTION) CY20 930.00$ 18,600.00$ 0%$500.00 $10,000.00-46%$775.00 $15,500.00 -17%$515.00 $10,300.00-45%$596.67 $11,933.33 0% -36%($96.67) ($1,933.33) -16%$178.33 $3,566.67 30%($81.67) ($1,633.33) -14%$275.00 $5,500.00 0%114115 731504 MINOR CONCRETE (CURB AND GUTTER)CY16 1,000.00$ 16,000.00$ 0%$800.00 $12,800.00 -20% $1,050.00 $16,800.00 5% $1,100.00 $17,600.00 10%$983.33 $15,733.33 0% -2% ($183.33) ($2,933.33) -19%$66.67 $1,066.67 7%$116.67 $1,866.67 12%$300.00 $4,800.00 0%115116 731516 MINOR CONCRETE (DRIVEWAY)CY3 1,200.00$ 3,600.00$ 0%$1,500.00 $4,500.00 25% $1,350.00 $4,050.00 13% $1,450.00 $4,350.00 21% $1,433.33 $4,300.00 0% 19%$66.67 $200.00 5%($83.33) ($250.00) -6%$16.67$50.00 1%$150.00 $450.00 0%116117 731519 MINOR CONCRETE (STAMPED CONCRETE)SQFT 19000 10.00$ 190,000.00$ 1%$8.70 $165,300.00 -13%$20.00 $380,000.00 100%$9.32 $177,080.00 -7%$12.67 $240,793.33 1% 27%($3.97) ($75,493.33) -31%$7.33 $139,206.67 58%($3.35) ($63,713.33) -26%$11.30 $214,700.00 1%117118 731710 REMOVE CONCRETE CURB (LF)LF140 35.00$ 4,900.00$ 0%$5.75 $805.00-84%$6.00 $840.00-83%$46.00 $6,440.00 31%$19.25 $2,695.00 0% -45%($13.50) ($1,890.00)-70%($13.25) ($1,855.00)-69%$26.75 $3,745.00 139%$40.25 $5,635.00 0%118119 731820 REMOVE CONCRETE SIDEWALK AND DRIVEWAYCY3 380.00$ 1,140.00$ 0%$265.00 $795.00 -30%$250.00 $750.00 -34% $1,100.00 $3,300.00189%$538.33 $1,615.00 0% 42% ($273.33) ($820.00)-51%($288.33) ($865.00)-54%$561.67 $1,685.00 104%$850.00 $2,550.00 0%119120 731840 REMOVE CONCRETE (CURB AND GUTTER)LF2580 17.00$ 43,860.00$ 0%$4.75 $12,255.00-72%$6.00 $15,480.00-65%$4.50 $11,610.00-74%$5.08 $13,115.00 0% -70%($0.33) ($860.00) -7%$0.92 $2,365.00 18%($0.58) ($1,505.00) -11%$1.50 $3,870.00 0%120121 750001 MISCELLANEOUS IRON AND STEELLB16831 2.50$ 42,077.50$ 0%$2.80 $47,126.80 12%$2.00 $33,662.00 -20%$1.75 $29,454.25 -30%$2.18 $36,747.68 0% -13%$0.62 $10,379.12 28%($0.18) ($3,085.68) -8%($0.43) ($7,293.43) -20%$1.05 $17,672.55 0%121122 780435 PREPARE AND PAINT CONCRETESQFT 19700 7.00$ 137,900.00$ 1%$2.50 $49,250.00-64%$2.75 $54,175.00-61%$2.17 $42,749.00-69%$2.47 $48,724.67 0% -65%$0.03 $525.33 1%$0.28 $5,450.33 11%($0.30) ($5,975.67) -12%$0.58 $11,426.00 0%122123 800310 CHAIN LINK FENCE (TYPE CL-3.5)LF360 50.00$ 18,000.00$ 0%$19.55 $7,038.00-61%$2.00 $720.00-96%$21.00 $7,560.00-58%$14.18 $5,106.00 0% -72%$5.37 $1,932.00 38%($12.18) ($4,386.00)-86%$6.82 $2,454.00 48%$19.00 $6,840.00 0%123124 800360 CHAIN LINK FENCE (TYPE CL-6)LF62 75.00$ 4,650.00$ 0%$56.00 $3,472.00 -25%$55.00 $3,410.00 -27%$59.00 $3,658.00 -21%$56.67 $3,513.33 0% -24%($0.67) ($41.33) -1%($1.67) ($103.33) -3%$2.33 $144.67 4%$4.00 $248.00 0%124125 803050 REMOVE CHAIN LINK FENCELF520 10.00$ 5,200.00$ 0%$11.45 $5,954.00 15%$12.00 $6,240.00 20%$11.75 $6,110.00 18%$11.73 $6,101.33 0% 17%($0.28) ($147.33) -2%$0.27 $138.67 2%$0.02$8.67 0%$0.55 $286.00 0%125126 803060 REMOVE GATEEA3 2,000.00$ 6,000.00$ 0%$1,115.00 $3,345.00-44%$1,100.00 $3,300.00-45%$1,225.00 $3,675.00 -39% $1,146.67 $3,440.00 0% -43%($31.67) ($95.00) -3%($46.67) ($140.00) -4%$78.33 $235.00 7%$125.00 $375.00 0%126127 801360A SWING BARRIER GATEEA1 25,000.00$ 25,000.00$ 0% $10,650.00 $10,650.00-57%$10,600.00 $10,600.00-58%$12,000.00 $12,000.00-52%$11,083.33 $11,083.33 0% -56% ($433.33) ($433.33) -4% ($483.33) ($483.33) -4%$916.67 $916.67 8% $1,400.00 $1,400.00 0%127128 801362A REMOVABLE BOLLARDEA5 2,000.00$ 10,000.00$ 0%$1,370.00 $6,850.00 -32% $1,310.00 $6,550.00 -35% $2,200.00 $11,000.00 10% $1,626.67 $8,133.33 0% -19% ($256.67) ($1,283.33) -16% ($316.67) ($1,583.33) -19%$573.33 $2,866.67 35%$890.00 $4,450.00 0%128129 810120 REMOVE PAVEMENT MARKEREA3120 1.30$ 4,056.00$ 0%$0.90 $2,808.00 -31%$0.85 $2,652.00 -35%$1.10 $3,432.00 -15%$0.95 $2,964.00 0% -27%($0.05) ($156.00) -5%($0.10) ($312.00) -11%$0.15 $468.00 16%$0.25 $780.00 0%129130 810170 DELINEATOR (CLASS 1)EA500 50.00$ 25,000.00$ 0%$69.70 $34,850.00 39%$63.00 $31,500.00 26%$50.00 $25,000.00 0%$60.90 $30,450.00 0% 22%$8.80 $4,400.00 14%$2.10 $1,050.00 3%($10.90) ($5,450.00) -18%$19.70 $9,850.00 0%130131 810230 PAVEMENT MARKER (RETROREFLECTIVE)EA2220 3.30$ 7,326.00$ 0%$2.25 $4,995.00 -32%$2.00 $4,440.00 -39%$4.50 $9,990.00 36%$2.92 $6,475.00 0% -12%($0.67) ($1,480.00) -23%($0.92) ($2,035.00) -31%$1.58 $3,515.00 54%$2.50 $5,550.00 0%131132 820130 OBJECT MARKEREA3 55.00$ 165.00$ 0%$93.00 $279.00 69%$90.00 $270.00 64%$96.00 $288.00 75%$93.00 $279.00 0% 69%$0.00$0.00 0%($3.00) ($9.00) -3%$3.00$9.00 3%$6.00$18.00 0%132133 820270 REMOVE ROADSIDE SIGN (WOOD POST)EA1 160.00$ 160.00$ 0%$128.75 $128.75 -20%$125.00 $125.00 -22%$134.00 $134.00 -16%$129.25 $129.25 0% -19%($0.50) ($0.50) 0%($4.25) ($4.25) -3%$4.75$4.75 4%$9.00$9.00 0%133134 820280 REMOVE ROADSIDE SIGN (METAL POST)EA2 160.00$ 320.00$ 0%$128.75 $257.50 -20%$125.00 $250.00 -22%$134.00 $268.00 -16%$129.25 $258.50 0% -19%($0.50) ($1.00) 0%($4.25) ($8.50) -3%$4.75$9.50 4%$9.00$18.00 0%134135 820300REMOVE ROADSIDE SIGN (STRAP AND SADDLE BRACKET METHOD)EA1 160.00$ 160.00$ 0%$51.50$51.50-68%$50.00$50.00-69%$100.00 $100.00 -38%$67.17$67.17 0% -58%($15.67) ($15.67)-23%($17.17) ($17.17) -26%$32.83$32.83 49%$50.00$50.00 0%135136 820320 REMOVE METAL POSTEA11 150.00$ 1,650.00$ 0%$258.00 $2,838.00 72%$150.00 $1,650.00 0%$200.00 $2,200.00 33%$202.67 $2,229.33 0% 35%$55.33 $608.67 27%($52.67) ($579.33) -26%($2.67) ($29.33) -1%$108.00 $1,188.00 0%136137 820360 REMOVE SIGN PANELEA4 500.00$ 2,000.00$ 0%$858.00 $3,432.00 72%$507.00 $2,028.00 1% $1,000.00 $4,000.00 100%$788.33 $3,153.33 0% 58%$69.67 $278.67 9% ($281.33) ($1,125.33) -36%$211.67 $846.67 27%$493.00 $1,972.00 0%137138 820510 RESET ROADSIDE SIGN (ONE POST)EA1 400.00$ 400.00$ 0%$335.00 $335.00 -16%$325.00 $325.00 -19%$360.00 $360.00 -10%$340.00 $340.00 0% -15%($5.00) ($5.00) -1%($15.00) ($15.00) -4%$20.00$20.00 6%$35.00$35.00 0%138139 820610 RELOCATE ROADSIDE SIGNEA4 400.00$ 1,600.00$ 0%$397.00 $1,588.00 -1%$385.00 $1,540.00 -4%$425.00 $1,700.00 6%$402.33 $1,609.33 0% 1%($5.33) ($21.33) -1%($17.33) ($69.33) -4%$22.67$90.67 6%$40.00 $160.00 0%139140 820650 RELOCATE SIGN PANELEA2 200.00$ 400.00$ 0%$3,540.00 $7,080.001670%$1,825.00 $3,650.00813%$3,700.00 $7,400.001750%$3,021.67 $6,043.33 0% 1411%$518.33 $1,036.67 17% ($1,196.67) ($2,393.33) -40%$678.33 $1,356.67 22% $1,875.00 $3,750.00 0%140141 820710 FURNISH LAMINATED PANEL SIGN (1"-TYPE A)SQFT960 25.00$ 24,000.00$ 0%$37.50 $36,000.00 50%$28.00 $26,880.00 12%$37.00 $35,520.00 48%$34.17 $32,800.00 0% 37%$3.33 $3,200.00 10%($6.17) ($5,920.00) -18%$2.83 $2,720.00 8%$9.50 $9,120.00 0%141142 820750 FURNISH SINGLE SHEET ALUMINUM SIGN (0.063"-UNFRAMED) SQFT18 15.00$ 270.00$ 0%$11.33 $203.94 -24%$11.00 $198.00 -27%$12.00 $216.00 -20%$11.44 $205.98 0% -24%($0.11) ($2.04) -1%($0.44) ($7.98) -4%$0.56$10.02 5%$1.00$18.00 0%142143 820760 FURNISH SINGLE SHEET ALUMINUM SIGN (0.080"-UNFRAMED) SQFT56 15.00$ 840.00$ 0%$11.85 $663.60 -21%$11.50 $644.00 -23%$12.00 $672.00 -20%$11.78 $659.87 0% -21%$0.07$3.73 1%($0.28) ($15.87) -2%$0.22$12.13 2%$0.50$28.00 0%143144 820840 ROADSIDE SIGN - ONE POSTEA5 400.00$ 2,000.00$ 0%$406.00 $2,030.00 2%$395.00 $1,975.00 -1%$420.00 $2,100.00 5%$407.00 $2,035.00 0% 2%($1.00) ($5.00) 0%($12.00) ($60.00) -3%$13.00$65.00 3%$25.00 $125.00 0%144145 820860 INSTALL SIGN (STRAP AND SADDLE BRACKET METHOD) EA1 200.00$ 200.00$ 0%$149.00 $149.00 -26%$140.00 $140.00 -30%$150.00 $150.00 -25%$146.33 $146.33 0% -27%$2.67$2.67 2%($6.33) ($6.33) -4%$3.67$3.67 3%$10.00$10.00 0%145146 820870 INSTALL SIGN OVERLAYSQFT25 50.00$ 1,250.00$ 0%$43.00 $1,075.00 -14%$25.50 $637.50-49%$42.00 $1,050.00 -16%$36.83 $920.83 0% -26%$6.17 $154.17 17%($11.33) ($283.33) -31%$5.17 $129.17 14%$17.50 $437.50 0%146147 832005 MIDWEST GUARDRAIL SYSTEMLF1240 30.00$ 37,200.00$ 0%$29.00 $35,960.00 -3%$28.50 $35,340.00 -5%$30.00 $37,200.00 0%$29.17 $36,166.67 0% -3%($0.17) ($206.67) -1%($0.67) ($826.67) -2%$0.83 $1,033.33 3%$1.50 $1,860.00 0%147148 832070 VEGETATION CONTROL (MINOR CONCRETE)SQYD560 83.00$ 46,480.00$ 0%$69.00 $38,640.00 -17%$65.00 $36,400.00 -22%$75.00 $42,000.00 -10%$69.67 $39,013.33 0% -16%($0.67) ($373.33) -1%($4.67) ($2,613.33) -7%$5.33 $2,986.67 8%$10.00 $5,600.00 0%148149 839521 CABLE RAILINGLF836 25.00$ 20,900.00$ 0%$23.60 $19,729.60 -6%$27.00 $22,572.00 8%$25.00 $20,900.00 0%$25.20 $21,067.20 0% 1%($1.60) ($1,337.60) -6%$1.80 $1,504.80 7%($0.20) ($167.20) -1%$3.40 $2,842.40 0%149150 839543 TRANSITION RAILING (TYPE WB-31)EA2 5,000.00$ 10,000.00$ 0%$4,015.00 $8,030.00 -20% $4,000.00 $8,000.00 -20% $4,300.00 $8,600.00 -14% $4,105.00 $8,210.00 0% -18%($90.00) ($180.00) -2% ($105.00) ($210.00) -3%$195.00 $390.00 5%$300.00 $600.00 0%150151 839581 END ANCHOR ASSEMBLY (TYPE SFT)EA2 1,000.00$ 2,000.00$ 0%$995.00 $1,990.00 -1% $1,000.00 $2,000.00 0% $1,080.00 $2,160.00 8% $1,025.00 $2,050.00 0% 3%($30.00) ($60.00) -3%($25.00) ($50.00) -2%$55.00 $110.00 5%$85.00 $170.00 0%151152 839584 ALTERNATIVE IN-LINE TERMINAL SYSTEMEA2 4,500.00$ 9,000.00$ 0%$3,775.00 $7,550.00 -16% $3,765.00 $7,530.00 -16% $4,000.00 $8,000.00 -11% $3,846.67 $7,693.33 0% -15%($71.67) ($143.33) -2%($81.67) ($163.33) -2%$153.33 $306.67 4%$235.00 $470.00 0%152153 839632A ALTERNATIVE CRASH CUSHION SYSTEMEA1 25,000.00$ 25,000.00$ 0%$7,565.00 $7,565.00-70%$7,545.84 $7,545.84-70%$8,000.00 $8,000.00-68%$7,703.61 $7,703.61 0% -69% ($138.61) ($138.61) -2% ($157.77) ($157.77) -2%$296.39 $296.39 4%$454.16 $454.16 0%153154 839640 CONCRETE BARRIER (TYPE 60MS)LF3680 130.00$ 478,400.00$ 2%$80.00 $294,400.00 -38%$78.00 $287,040.00 -40%$77.00 $283,360.00-41%$78.33 $288,266.67 1% -40%$1.67 $6,133.33 2%($0.33) ($1,226.67) 0%($1.33) ($4,906.67) -2%$3.00 $11,040.00 0%154155 839642 CONCRETE BARRIER (TYPE 60MC)LF360 250.00$ 90,000.00$ 0%$280.00 $100,800.00 12%$250.00 $90,000.00 0%$186.00 $66,960.00 -26%$238.67 $85,920.00 0% -5%$41.33 $14,880.00 17%$11.33 $4,080.00 5%($52.67) ($18,960.00) -22%$94.00 $33,840.00 0%155156 839643 CONCRETE BARRIER (TYPE 60MD)LF1220 90.00$ 109,800.00$ 0%$126.00 $153,720.00 40%$80.00 $97,600.00 -11%$80.00 $97,600.00 -11%$95.33 $116,306.67 0% 6%$30.67 $37,413.33 32%($15.33) ($18,706.67) -16%($15.33) ($18,706.67) -16%$46.00 $56,120.00 0%156157 839741A CONCRETE BARRIER (TYPE 836SV Mod)LF1760 450.00$ 792,000.00$ 3%$230.00 $404,800.00-49%$600.00 $1,056,000.00 33%$532.00 $936,320.00 18%$454.00 $799,040.00 3% 1% ($224.00) ($394,240.00)-49%$146.00 $256,960.00 32%$78.00 $137,280.00 17%$370.00 $651,200.00 3%157158 839744 CONCRETE BARRIER (TYPE 836 MODIFIED)LF2146 110.00$ 236,060.00$ 1%$75.00 $160,950.00 -32%$145.00 $311,170.00 32%$123.00 $263,958.00 12%$114.33 $245,359.33 1% 4%($39.33) ($84,409.33) -34%$30.67 $65,810.67 27%$8.67 $18,598.67 8%$70.00 $150,220.00 1%158159 839749 CONCRETE BARRIER (TYPE 842 MODIFIED)LF34 125.00$ 4,250.00$ 0%$120.00 $4,080.00 -4%$275.00 $9,350.00 120%$164.00 $5,576.00 31%$186.33 $6,335.33 0% 49%($66.33) ($2,255.33) -36%$88.67 $3,014.67 48%($22.33) ($759.33) -12%$155.00 $5,270.00 0%159160 839752 REMOVE GUARDRAILLF3570 10.00$ 35,700.00$ 0%$8.85 $31,594.50 -12%$10.00 $35,700.00 0%$9.45 $33,736.50 -6%$9.43 $33,677.00 0% -6%($0.58) ($2,082.50) -6%$0.57 $2,023.00 6%$0.02$59.50 0%$1.15 $4,105.50 0%160161 839774 REMOVE CONCRETE BARRIERLF390 30.00$ 11,700.00$ 0%$25.00 $9,750.00 -17%$37.00 $14,430.00 23%$61.00 $23,790.00 103%$41.00 $15,990.00 0% 37%($16.00) ($6,240.00) -39%($4.00) ($1,560.00) -10%$20.00 $7,800.00 49%$36.00 $14,040.00 0%161162 8406236" THERMOPLASTIC TRAFFIC STRIPE (ENHANCED WET NIGHT VISIBILITY) (BROKEN 36-12)LF64100 0.70$ 44,870.00$ 0%$0.28 $17,948.00-60%$0.25 $16,025.00-64%$0.57 $36,537.00 -19%$0.37 $23,503.33 0% -48%($0.09) ($5,555.33) -24%($0.12) ($7,478.33) -32%$0.20 $13,033.67 55%$0.32 $20,512.00 0%162163 8460076" THERMOPLASTIC TRAFFIC STRIPE (ENHANCED WET NIGHT VISIBILITY)LF34400 1.00$ 34,400.00$ 0%$0.67 $23,048.00 -33%$0.60 $20,640.00 -40%$0.73 $25,112.00 -27%$0.67 $22,933.33 0% -33%$0.00 $114.67 1%($0.07) ($2,293.33) -10%$0.06 $2,178.67 10%$0.13 $4,472.00 0%163164 8460098" THERMOPLASTIC TRAFFIC STRIPE (ENHANCED WET NIGHT VISIBILITY)LF10300 1.00$ 10,300.00$ 0%$1.12 $11,536.00 12%$1.00 $10,300.00 0%$0.94 $9,682.00 -6%$1.02 $10,506.00 0% 2%$0.10 $1,030.00 10%($0.02) ($206.00) -2%($0.08) ($824.00) -8%$0.18 $1,854.00 0%164165 8460108" THERMOPLASTIC TRAFFIC STRIPE (ENHANCED WET NIGHT VISIBILITY) (BROKEN 12-3)LF13400 1.00$ 13,400.00$ 0%$1.12 $15,008.00 12%$1.00 $13,400.00 0%$0.94 $12,596.00 -6%$1.02 $13,668.00 0% 2%$0.10 $1,340.00 10%($0.02) ($268.00) -2%($0.08) ($1,072.00) -8%$0.18 $2,412.00 0%165166 846012THERMOPLASTIC CROSSWALK AND PAVEMENT MARKING (ENHANCED WET NIGHT VISIBILITY)SQFT 1380 5.00$ 6,900.00$ 0%$3.40 $4,692.00 -32%$3.00 $4,140.00 -40%$7.30 $10,074.00 46%$4.57 $6,302.00 0% -9%($1.17) ($1,610.00) -26%($1.57) ($2,162.00) -34%$2.73 $3,772.00 60%$4.30 $5,934.00 0%166167 846020 REMOVE PAINTED TRAFFIC STRIPELF47100 0.40$ 18,840.00$ 0%$0.23 $10,833.00-43%$0.20 $9,420.00-50%$0.45 $21,195.00 13%$0.29 $13,816.00 0% -27%($0.06) ($2,983.00) -22%($0.09) ($4,396.00) -32%$0.16 $7,379.00 53%$0.25 $11,775.00 0%167168 846025 REMOVE PAINTED PAVEMENT MARKINGSQFT 1050 1.40$ 1,470.00$ 0%$1.12 $1,176.00 -20%$1.00 $1,050.00 -29%$4.46 $4,683.00219%$2.19 $2,303.00 0% 57%($1.07) ($1,127.00)-49%($1.19) ($1,253.00)-54%$2.27 $2,380.00 103%$3.46 $3,633.00 0%168169 846030 REMOVE THERMOPLASTIC TRAFFIC STRIPELF 108000 0.40$ 43,200.00$ 0%$0.17 $18,360.00-58%$0.15 $16,200.00-63%$0.45 $48,600.00 13%$0.26 $27,720.00 0% -36%($0.09) ($9,360.00) -34%($0.11) ($11,520.00)-42%$0.19 $20,880.00 75%$0.30 $32,400.00 0%169170 870009MAINTAINING EXISTING TRAFFIC MANAGEMENT SYSTEM ELEMENTS DURING CONSTRUCTIONLS1 4,300.00$ 4,300.00$ 0%$100.00 $100.00-98%$100.00 $100.00-98%$6,000.00 $6,000.00 40% $2,066.67 $2,066.67 0% -52% ($1,966.67) ($1,966.67)-95%($1,966.67) ($1,966.67)-95%$3,933.33 $3,933.33190%$5,900.00 $5,900.00 0%170171 847198 CONTRAST STRIPE THERMOPLASTICLF 131000 0.70$ 91,700.00$ 0%$0.45 $58,950.00 -36%$0.40 $52,400.00-43%$0.21 $27,510.00-70%$0.35 $46,286.67 0% -50%$0.10 $12,663.33 27%$0.05 $6,113.33 13%($0.14) ($18,776.67)-41%$0.24 $31,440.00 0%171172 870200A MODIFYING LIGHTING SYSTEMLS1 1,150,000.00$ 1,150,000.00$ 4% $1,030,000.00 $1,030,000.00 -10% $940,000.00 $940,000.00 -18% $1,000,000.00 $1,000,000.00 -13% $990,000.00 $990,000.00 4% -14% $40,000.00 $40,000.00 4% ($50,000.00) ($50,000.00) -5% $10,000.00 $10,000.00 1% $90,000.00 $90,000.00 0%172173 872002 TEMPORARY SIGNAL SYSTEMSLS1 63,000.00$ 63,000.00$ 0% $94,000.00 $94,000.00 49% $95,000.00 $95,000.00 51% $122,000.00 $122,000.00 94% $103,666.67 $103,666.67 0% 65% ($9,666.67) ($9,666.67) -9% ($8,666.67) ($8,666.67) -8% $18,333.33 $18,333.33 18% $28,000.00 $28,000.00 0%173174 870600A MODIFYING TRAFFIC MONITORING STATION SYSTEM LS1 115,000.00$ 115,000.00$ 0% $238,000.00 $238,000.00 107% $240,000.00 $240,000.00 109% $262,000.00 $262,000.00 128% $246,666.67 $246,666.67 1% 114% ($8,666.67) ($8,666.67) -4% ($6,666.67) ($6,666.67) -3% $15,333.33 $15,333.33 6% $24,000.00 $24,000.00 0%174175 871200AMODIFYING ELECTRONIC TOLL AND TRAFFIC MANAGEMENT SYSTEMLS1 89,000.00$ 89,000.00$ 0% $157,000.00 $157,000.00 76% $95,000.00 $95,000.00 7% $104,000.00 $104,000.00 17% $118,666.67 $118,666.67 0% 33% $38,333.33 $38,333.33 32% ($23,666.67) ($23,666.67) -20% ($14,666.67) ($14,666.67) -12% $62,000.00 $62,000.00 0%175176999990MOBILIZATIONLS12,326,000.00$ 2,326,000.00$ 9%$1,700,000.00$1,700,000.00-27%$1,700,000.00$1,700,000.00-27%$1,700,000.00$1,700,000.00-27%$1,700,000.00$1,700,000.007%-27%$0.00$0.000%$0.00$0.000%$0.00$0.000%$0.00$0.000%17625,583,978.80$ $18,886,963.15 -26.2%$19,801,970.44 -22.6%$19,898,025.70 -22.2%$19,528,986.43 -23.7%($3,647.86)$1,551.05$2,096.81Variance to low bid0.0%4.8%5.4%3.4%65 91 CORRIDOR OPERATIONS PROJECT Award of Construction Contract Presented by:David Thomas, Toll Project Manager 1 Project Overview 2 •Outside pavement widening •Widening one undercrossing •New retaining walls •Reconstructing a portion of Green River Road •Replacing overhead signs •Adding high mast lighting Background 3 •March 2017, SR-91 Corridor Improvement Project opened •December 2017-April 2018 staff developed options to address hotspots •May 2018, Commission authorized scoping, environmental and final design activities for the 91 COP •December 2018, Commission authorized construction phase •May 2020, Commission awarded Construction Management Services Agreement Construction Bid Process 4 •Invitation for Bids (IFB) released on May 21, 2020 –Advertised in Press Enterprise –Posted on PlanetBids website –Electronic mail messages sent to registered vendors –105 firms downloaded IFB; 28 in Riverside County •Pre-bid video conference held on May 28, 2020 •Bids opened publicly on July 2, 2020 Summary of Bids 5 Firm (In order from Low Bid to High Bid) Bid Amount Engineer’s Estimate $26,000,000.00 1 OHL USA $18,886,963.15 2 Walsh Construction Company $19,801,970.44 3 Griffith Company $19,898,025.70 4 Ames Construction $20,182,234.00 5 Security Paving Company $20,662,814.96 6 Ortiz Enterprises Incorporated $21,232,663.82 7 Beador Construction Company $21,415,300.00 8 SEMA Construction, Inc $21,499,039.63 9 Skanska USA Civil West California District Inc $22,142,000.00 10 Myers-Rados, A Joint Venture $23,339,887.75 11 Powell Constructors Inc $28,051,533.00 Contract Amount 6 Construction Contract o Construction bid amount: $ 18,886,963 o Contingency, and non-contract costs: $ 1,888,696 (includes COZEEP, FSP, etc) o Supplemental Work: $ 406,900 o Incentive Payments $ 472,500 o Total: $ 21,655,059 Incentive Payments Milestone Completion Duration (Working Days) $/Day (Early/Late) Maximum Days (Early/Late) Maximum Bonus Stage 2 60 $13,500 10/unlimited $135,000 NTP to Open to Traffic 230 $13,500 25/unlimited $337,500 Committee Action 7 •Award Agreement No. 20-31-069-00 to OHL USA; •Authorize finalizing agreement; •Authorize contingency work, supplemental work and incentive payments; and •Forward to the Commission for final action. RIVERSIDE COUNTY TRANSPORTATION COMMISSION WESTERN RIVERSIDE COUNTY PROGRAMS AND PROJECTS COMMITTEE ROLL CALL JULY 27, 2020 Present Absent County of Riverside, District I X  County of Riverside, District V X  City of Corona X  City of Eastvale X  City of Jurupa Valley X  City of Menifee X  City of Moreno Valley   City of Murrieta X  City of Norco X  City of Perris X  City of San Jacinto   City of Wildomar X 