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Avenues came in at $18.5 million, and Ranger Construction out of West Palm Beach was the low <br />bidder. <br />Mr. Mechling wanted it made clear that this was thought through as far as having <br />a contingency in there. He wanted to know where the money goes, if the job comes to an end in <br />the future. He asked whether it would go back to the County coffers, or gets distributed to those <br />who paid the interest share money. Mr. Mechling indicated that 50% of the trips on this new <br />link was going to be "guesstimated" to be used by new development, and he wanted it clear that <br />the industry does step up, and we try to make this a part of the solution, so that we can move <br />forward as a community. He believed it is a success story and would be a huge benefit to the <br />whole community. But it leaves the question whether there would be some sort of a rebate <br />concept, if there is money that comes back after the job is completed. <br />Director Mora confirmed the amount of money in contingency. He said there is a <br />possibility that there would be money left over and we may be repaid more than the $23.8 <br />million that we lend to DOT. <br />Mr. Mechling thanked staff for all their work, and asked the Board if there needs <br />to be some direction today if there is money left over. <br />Attorney Collins said this loan will mean that the County is forbearing certain <br />interests to the extent that they recover whatever interest they are forbearing; and if there is an <br />excess it would make sense to rebate it, but if the total interest lost is not recovered through these <br />fees, he thinks there probably would not be a rebate. <br />Administrator Baird explained what would be done. He said they have had to <br />project what our interest earnings are going to be and what we think the draw -down is going to <br />be and how many people are going to pay into the project. He suggested staff could come back <br />with a report and at that time the Board could make a decision. He said, on the other side, they <br />could have a shortfall, because this is all based on projection. He offered assurance they would <br />19 <br />July 8, 2008 <br />