253-22 Resolution (3 percent) for Phase IA of Flood Mitigation Project - JMEUC 2022.pdf

#13390882.1 for the Joint Meeting, that involves among other work, the construction of a reinforced concrete levee wall, installation of automatic vehicle flood gates, isolation of on-site stormwater collection systems and pumps, installation of an effluent pumping station, Cogeneration Upgrades, installation of a stormwater pumping station for the Biosolids Facility site, and the use of an existing Army Corps of Engineers Flood Control Pump Station at the treatment plant (collectively, the “Flood Mitigation Facilities Project”); and WHEREAS, the Federal Emergency Management Agency, an agency of the United States of America, has indicated that it will reimburse approximately 90% of the costs associated with the Project and that only the remaining 10% of the costs will be financed by the member municipalities and the City of Elizabeth (collectively, the “Members”); and WHEREAS, the funding commitment from the Federal Emergency Management Agency may be provided in multiple phases; and WHEREAS, the Joint Meeting covenanted to the Members that the Flood Mitigation Facilities Project will be financed in phases as each phase is approved by FEMA; and WHEREAS, in September of 2020, FEMA approved Phase I of the Flood Mitigation Facilities Project consisting of the construction of an Effluent Pumping Station, which will be connected to the existing twin outfall channels to the Arthur Kill (“Phase I of the Project”); and WHEREAS, in October, 2020, the Local Unit issued and sold Construction Loan Financing Program Notes to the New Jersey Infrastructure Bank (the “I-Bank”) in the amount of $2,405,000 to finance its allocable share of Phase I of the Project (the “2020 I- Bank Note”); and WHEREAS, Phase I of the Project has experienced delays due to many factors, including but, not limited to, delays in receiving approval of the New Jersey Department of Environmental Protection, the financing process, and, primarily, as a result of the COVID- 19 pandemic; and WHEREAS, due to these delays, the Joint Meeting did not solicit and receive bids on Phase I of the Project until July of 2022; and WHEREAS, the bids received for Phase I of the Project were substantially more than originally projected and more than the $21,392,365 amount that was financed through the I-Bank by the Members through their respective 2020 I-Bank Notes; and WHEREAS, in order to execute a contract with the

ally projected and more than the $21,392,365 amount that was financed through the I-Bank by the Members through their respective 2020 I-Bank Notes; and WHEREAS, in order to execute a contract with the lowest responsible bidder and lock in construction costs for Phase I of the Project, the Joint Meeting will need to have access to an additional $31,361,958; and WHEREAS, N.J.S.A. 40A:4-46 permits local governments to make emergency appropriations, after adoption of the annual budget, for purposes unforeseen at the time of adoption thereof; and