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Court signs MOUs with AOC for FEMA public-assistance eligibility and selects Trace Creek for courthouse construction management
Summary
The court approved MOUs with the Administrative Office of the Courts to document responsibilities for courthouse flood repairs and awarded the courthouse construction-management qualifications to Trace Creek Construction; county staff also received authorization to open a segregated bank account to manage bond interest/arbitrage.
Frankfort — Franklin County Fiscal Court on Oct. 15 approved multiple steps in the courthouse flood-recovery process: MOUs with the Administrative Office of the Courts (AOC) for FEMA public-assistance eligibility and reimbursement arrangements, selection of Trace Creek Construction as the construction-management firm, and authorization to open a segregated bank account to manage bond construction interest and potential arbitrage liability.
Erin McCauley (contractor with ER Assist) explained the MOUs document that expenses undertaken for the courthouse emergency response were done in the best interest of the fiscal court and outline reimbursement flows if FEMA returns funds to the AOC. A magistrate pointed out the abstract originally misstated the courthouse address (321 West Main vs. 222 Saint Clair); Erin confirmed the packet document was correct and the record was clarified.
On procurement, the county ran an RFQ and a three-person selection committee recommended Trace Creek Construction following presentations by two firms. The court approved awarding the qualifications to Trace Creek.
Treasurer Amy also reported Amtech's arbitrage calculation on the July 2023 bond producing an estimated potential arbitrage liability (~$177,000) and requested authorization to open a US Bank account to segregate bond construction interest proceeds pending final calculation; the court authorized account opening and later approved placing $700,000 of accrued interest into a six-month CD.
Next steps: staff will finalize MOUs with AOC, execute a construction-management agreement with Trace Creek, monitor arbitrage calculations and present final numbers to the court.
