Title
Consider/Discuss/Act on a Resolution Authorizing the City Manager to Enter into an Interlocal Agreement with McKinney Municipal Utility District No. 1 of Collin County for Funding the Construction of Trinity Falls Parkway from Laud Howell Parkway to FM 543
Summary
COUNCIL GOAL: Direction for Strategic & Economic Growth
(1A: Establish regional and infrastructure incentives to increase economic growth)
MEETING DATE: November 19, 2018
DEPARTMENT: Development Services / Engineering
CONTACT: Nick Ataie, P.E., Engineering CIP Manager
Gary Graham, P.E., Director of Engineering
RECOMMENDED CITY COUNCIL ACTION:
• Approval of the Resolution.
ITEM SUMMARY:
• This Resolution authorizes the City Manager to enter into an Interlocal Agreement with McKinney Municipal Utility District No. 1 of Collin County to provide funding for the construction of Trinity Falls Parkway as a 4-lane divided roadway from Laud Howell Parkway to FM 543.
BACKGROUND INFORMATION:
• Trinity Falls Holdings LP (“Trinity Falls”), an entity controlled by The Johnson Development Corp., is the assignee and successor-in-interest to CH-B Trinity Falls, LP, and is developing property pursuant to the 2012 Development Agreement, as currently amended, between CH-B Trinity Falls, LP and the City with the original effective date of December 4, 2012 (“Development Agreement”).
• Per the development agreement, Trinity Falls is required to construct two lanes of the north-south segment of FM 543 (a designated 6-lane arterial), which roadway segment is now named Trinity Falls Parkway a distance of approximately 5,600 linear feet as provided in “Exhibit A” of the partially executed interlocal agreement (ILA).
• The City has exercised its right per the development agreement to increase this 5,600 linear foot section of Trinity Falls from a two-lane roadway to a four-lane divided roadway by participating in the costs thereof in the amount of $3,600,000 and will be paid in accordance with Section 6.a. (“McKinney’s Base Bid Share”) of the partially executed ILA.
• Trinity Falls has assigned its obligation to construct the Trinity Falls Parkway section to the McKinney Municipal Utility District No. 1 of Collin County (“District”), and the District has accepted and assumed the obligation to bid and construct the section of Trinity Falls Parkway as provided in “Exhibit B” of the partially executed ILA as designed by Kimley-Horn Associates.
• The District has also assumed the obligation from the City to bid and construct an additional approximately 1,476 linear feet of Trinity Falls Parkway Lanes 3 & 4 (referred to as the “Trinity Falls Parkway Link”) between the southern terminus of the Trinity Falls Parkway segment as provided in “Exhibit A” of the partially executed ILA to the intersection of Laud Howell Parkway.
• The construction cost associated with the Trinity Falls Parkway Link ($1,297,983.00 plus and/or minus any additive and/or deductive change orders approved and executed by the City) is not included as part of the $3,600,000 City participation and will be paid in accordance with Section 6.b. (“McKinney’s Bid Alternate Share”) of the partially executed ILA.
• Under the terms of this ILA, Trinity Falls Parkway will be constructed by the District as a 4-lane divided roadway between Laud Howell Parkway and FM 543 with the ability for future expansion to a 6-lane divided roadway per the Master Thoroughfare Plan.
• The District has received bids for both the 5,600 liner foot segment of Trinity Falls and the Trinity Falls Parkway Link with Mario Sinacola & Sons Excavating, Inc. as the lowest qualified bidder.
• Per the terms of the ILA, the District must commence construction of the improvements within 45 days of the effective date of the agreement and complete construction within 420 calendar days.
FINANCIAL SUMMARY:
• The City participation amount of $3,600,000 is available in Capital Improvements Project FA4320, Trinity Falls Parkway (FM 543).
• The City participation amount for the Trinity Falls Parkway Link construction cost is available in Capital Improvements Project ST4422, Trinity Falls Parkway Lanes 3 & 4.
BOARD OR COMMISSION RECOMMENDATION:
• N/A