Common use of Cost Sharing Agreements Clause in Contracts

Cost Sharing Agreements. (1) For non-cash flow managed projects, prior to requesting permission from the TF to proceed with construction of the project, the project sponsors shall negotiate and execute the necessary cost sharing agreement using their own internal procedures. For cash flow managed projects, a cost sharing agreement will be negotiated and executed as soon as possible after Phase 1 approved by the TF. (2) Cost sharing agreement processing is as follows: (a) Federal sponsor, if applicable, forwards draft cost sharing agreement to the local sponsor. For cooperative agreements, the local sponsor will initiate the agreement. (b) After review and negotiations, the local sponsor, upon approval by the State of Louisiana CPRA Board, signs the cost sharing agreement and forward document(s) to the federal sponsor. The federal sponsor signs and executes the document(s) and forward copies to the local sponsor and forwards a copy to the Corps of Engineers, New Orleans District, ATTN: CEMVN-PM-BC, for TF records and to aid in managing funds disbursement.