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4'# <br /> <br />estimated, <br />amounts all¢ <br />allocated $3 <br /> <br />(3) The SP( <br />Department <br />proceed wit~ <br />hereinafter <br />construction <br /> <br />(4) The es' <br />design cons' <br />this local <br /> <br />(5) CITY <br />conditions <br />design and <br />second agre~ <br />and conditJ <br />modificatio! <br /> <br />(6) The cu <br />has comple~ <br />design. AU~ <br />SOR for des~ <br /> <br />5he AUTHORITY has made a prorata reduction in the <br />cated to each project. The AUTHORITY has currentl~ <br /> <br /> million to this project. <br /> <br /> [SOR for the 580/680 Interchange is the California <br />)f Transportation (Caltrans). SPONSOR intends to <br /> <br /> the first phase of this work, which first phase is <br />referred to as "PROJECT", at an estimated design and <br /> <br /> cost of $2,054,000. <br /> <br />~imated local share of this first phase design and <br />~ruction cost is $380,000. CITY's participation in <br />hare is estimated to be $111,667.00. <br /> <br />Ld AUTHORITY desire to specify herein the terms and <br />under which the PROJECT is to be-financed through <br />~onstruction. This Agreement will be followed by a <br />ment between the parties which will specify the terms <br />ons under which other portions of the 1-580/680 <br />will be designed and constructed. <br /> <br />rent status of the PROJECT is as follows: SPONSOR <br />~ed environmental studies and is proceeding with <br />'HORITY approved entering into an agreement with SPON- <br />.gn work at AUTHORITY's May 26, 1988 meeting. <br /> <br />2 <br /> <br /> <br />