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Title:
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Consider/Discuss/Act on an Ordinance Amending the Fiscal Year 2012 - 2013 Annual Budget and Amending the 2013-2017 Capital Improvements Program, to Provide Funds for the Median Landscape and Irrigation of Medians along Virginia Parkway between Aero Country Road and Peregrine Drive, Lake Forest Drive between Virginia Parkway and Wilmeth Road and Hardin Boulevard between Eldorado Parkway and McKinney Ranch Parkway
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Title
Consider/Discuss/Act on an Ordinance Amending the Fiscal Year 2012 - 2013 Annual Budget and Amending the 2013-2017 Capital Improvements Program, to Provide Funds for the Median Landscape and Irrigation of Medians along Virginia Parkway between Aero Country Road and Peregrine Drive, Lake Forest Drive between Virginia Parkway and Wilmeth Road and Hardin Boulevard between Eldorado Parkway and McKinney Ranch Parkway
Summary
MEETING DATE: September 3, 2013
DEPARTMENT: Development Services/Engineering
CONTACT: Emily Braht, ASLA, Landscape Architect
RECOMMENDED CITY COUNCIL ACTION:
* Approval of Ordinance.
ITEM SUMMARY:
* This Ordinance amends the FY 2012-2013 annual budget and the 2013 -2017 CIP plan, by transferring $351,691 to a new CIP project (PK4269) from the following sources:
o Median Escrow Fees (Zone C) $89,031
o Median Escrow Fees (Zone D) $40,660
o Median Escrow Fees (Zone G) $67,000
o Median Escrow Fees (Zone I) $125,000
o Median Escrow Fees (Zone J) $30,000
BACKGROUND INFORMATION:
* Developers are required to comply with the median landscaping requirements found in the McKinney Code of Ordinances.
* The Code allows a developer to pay a median landscaping fee in lieu of installing landscaping along the median adjacent to their project.
* When fees are paid in lieu of installation, the City is required to expend the funds within 6 years of collection and a portion of the funds in the five zones listed above are nearing at the deadline.
* The following areas are now ready for landscape planting and irrigation:
o Virginia Parkway between Aero Country Road and Peregrine Drive
o Lake Forest Drive between Virginia Parkway and Wilmeth Road
o Hardin Boulevard between Eldorado Parkway and McKinney Ranch Parkway
* This Ordinance transfers funds to a new CIP project and provides the funds needed for the completion of the installation of landscape trees and irrigation.
FINANCIAL SUMMARY:
* The attached financial summary details the transfer of funds from various Median Escrow Fee Zones.
BOARD OR COMMISSION RECOMMENDATION:
* N/A