2021-03-08-minutes-public-works-study-session

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Assessment of Project Risks and Mitigation Strategies Applicants must identify all material risks to the project and the strategies that the lead applicant and any project partners have undertaken or will undertake to mitigate those risks. This includes project risks, such as procurement delays, environmental uncertainties, increases in real estate acquisition costs, uncommitted local match, or lack of legislative approval. Be sure to include how these risks affect the likelihood of successful project start and completion. Applicants are encouraged to contact USDOT modal field or headquarters offices to ensure that their project schedule is reasonable and that there are no risks of delays in satisfying Federal requirements. Large/Small Project Requirements To select a large project for award, the Department must determine that the project—as a whole, as well as each independent component of the project–satisfies several statutory requirements. Applicants should use this section of the application to summarize how their project and, if present, each independent project component, meets each of the following requirements. Applicants are not required to reproduce the table below in their application but following this format will help evaluators identify the relevant information that supports each large project determination. Supporting information provided in appendices may be referenced. Does the project generate national or regional economic, mobility, or safety benefits? Is the project cost effective? Summarize the economic, mobility, and safety benefits of the project and independent project components and describe the scale of their impact in national or regional terms. Refer reviewer to the Economic Vitality criterion. Highlight the results of the benefit cost analysis, as well as the analyses of independent project components if applicable. Refer reviewer to the Economic Vitality criterion. With respect to non -Federal financial commitments, Indicate funding source(s) and amounts that will does the project have one or more stable and account for all project costs. Refer the reviewer dependable funding or financing sources to construct, back to Grant Sources and Use of Funds section. maintain, and operate the project? Are contingency amounts available to cover State the contingency amount available for the unanticipated cost increases? project. Is the project reasonably expected to begin Provide expected obligation date and construction not later than 18 months after the date of construction start date, referencing project obligation of funds for the project? budget and schedule as needed.