The Grundy County Commission on April 27th signed a memorandum of understanding regarding the Natural Resources Conservation Service Streambank Stabilization project near the Thompson River Bridge on Highway 6.
The agreement is with the Grundy County Industrial Development Corporation for providing local match funding in conjunction with the project. The county is the designated sponsor.
Grundy County and the Industrial Development Corporation agreed to several provisions. Those include that the IDC will provide $45,000 for engineering costs involved with the project before the county signs a contract for services regarding design and engineering.
Chris Hoffman with the Industrial Development Corporation reported that the IDC burrowed the funds and will be reimbursed by businesses and organizations.
The IDC will provide consent on signed documents required during the project, including bid acceptance, contracts, invoices for work performed and materials purchased, draw submissions, and payment vouchers. Two Grundy County Industrial Development Corporation Board members will provide consent, which will be signified by their initials alongside the signature of the appropriate county signer.
The IDC also agreed to hold Grundy County and its agents harmless from liability stemming from the administration of the NRCS Streambank Stabilization Program funds sponsored by the county, including cost overruns.