Title
Consider/Discuss/Act on an Ordinance Amending the Fiscal Year 2018 - 2022 Capital Improvements Program Budget and Amending the 2018-2022 Capital Improvements Program and to Accept Funds from Oncor Electric Delivery Company LLC, a Delaware Limited Liability Company, as per the Executed Escrow Agreement for the Design and Construction of a Median Opening and Left Turn Lane in the Median of McKinney Ranch Parkway into the Oncor Property.
Summary
COUNCIL GOAL: Direction for Strategic and Economic Growth
MEETING DATE: March 6, 2018
DEPARTMENT: Development Services / Engineering
CONTACT: Nicholas Ataie, P.E., Engineering CIP Manager
Jason Horn, P.E., Civil Engineer
RECOMMENDED CITY COUNCIL ACTION:
• Approval of the Ordinance.
ITEM SUMMARY:
• This Ordinance amends the FY2017-2018 Annual CIP Budget and the 2018-2022 Capital Improvements Program by accepting $66,810 from Oncor Electric Delivery Company LLC, a Delaware Limited Liability Company, as per the executed Escrow Agreement. These funds have been placed in the CIP Project No. ST1614 for the design and construction of a median opening and left turn lane in the median of McKinney Ranch Parkway into the Oncor property.
BACKGROUND INFORMATION:
• Construction of the McKinney Ranch Parkway Improvements project (ST1614) is currently underway from the eastern limits of the McKinney ISD property to US 75.
• Per the City of McKinney Code of Ordinances Section 142-37 (Facilities Agreement), the city delegates to the city engineer the ability to approve standard facilities agreements without City Council approval.
• Standard facilities agreements are referred to as “Template Agreements” and do not involve the expenditure of City funds while providing protections for the City.
• McKinney Code § 142-137(d) also provides if there is a disagreement regarding the provisions in a Template, that the City Council reviews the provisions and makes a recommendation to resolve the disagreement.
• A standard facilities agreement (Escrow Agreement) was executed on February 12, 2018, whereas Oncor Electric Delivery Company LLC has escrowed money to the City for all design and construction costs associated with a median opening and left turn lane in the median of McKinney Ranch Parkway into the Oncor property.
• The escrow agreement also requires Oncor Electric Delivery Company LLC to pay the City for any shortfall or underpayment within 30 days after notice, and authorizes the City to impose a lien on Oncor’s property if the shortfall is not paid
• Funds in the amount of $66,810 have been paid by Oncor Electric Delivery Company LLC and deposited into CIP Project No. ST1614. This includes a 20% contingency from the Engineer’s Opinion of Probable Cost of $55,675.31.
• This Ordinance amends the 2018 - 2022 Capital Improvements Projects budget to fund the project.
FINANCIAL SUMMARY:
• The Amendment of the FY 2018 - 2022 Capital Improvements Program will add funding for the project ST1614 in the amount of $66,810, bringing the total project budget to $2,340,314.
BOARD OR COMMISSION RECOMMENDATION:
• N/A