Technical Committee, February 14, 2017

Agenda Item #4
Consideration of FY 2023-2026 Transportation Improvement Project (TIP) Cost Overruns

There are three (3) cost overrun requests for locally sponsored projects. The overruns exceed the limits established in the TIP programming policies adopted with the FY 23-26 TIP.  Technical Committee approval is required for cost overruns in excess of 25% of the total project costs, or increasing TPO federal funds in excess of $500,000. 

• Knoxville Accelerated Bus Corridor Stops/Passenger Information Systems Install: Overrun request (CMAQ PM 2.5 funds) is $750,000 ($600,000 federal/$150,000 local), representing 10.6% of the total project cost. 
• KAT Electric Transit Bus Corridor Purchase: Overrun request (CMAQ PM 2.5 funds) is $8,960,000 ($7,168,000 federal/$1,792,000 local), representing new TPO federal funds above $500,000. 
• Farragut Union Rd./Hobbs Rd. Improvements: Overrun request (L-STBG funds) is $2,400,000 ($1,920,000 federal/$480,000 local), representing 34.5% of the total project cost.
• The current TIP pages are included as attachments. 

Presenter Craig Luebke, TPO Staff

- No applicable attachments at this time -