Title
Consider/Discuss/ Act on a Resolution Setting City of McKinney Project Priorities for the Use of Collin County Discretionary Bond Funds
Summary
MEETING DATE: December 17, 2013
DEPARTMENT: Development Services/Engineering
CONTACT: Gary Graham, PE, PTOE Transportation Engineering Manager
RECOMMENDED CITY COUNCIL ACTION:
· Approval of Resolution
ITEM SUMMARY:
· This resolution sets the priorities for the City of McKinney when requesting discretionary road bond monies from Collin County
BACKGROUND INFORMATION:
· The County has approximately $15,000,000 in Discretionary Bond Funds for the entire County. Due to limited funding, it is expected the City of McKinney will only have one project funded from this source of revenue.
· During discussions with County staff it was suggested that the monies from the Discretionary Bond funds be used on smaller projects that do not have a large funding gap. County staff recognizes this could lead to a different list of projects than what was submitted for the RTR funding.
· At the November 18, 2013 Collin County Commissioners Court meeting, the City of McKinney requested $2,000,000 from the County's Discretionary Bond Fund.
· The money was requested to be used on the Stonebridge Drive from US 380 to Wilmeth Road project.
· The Commissioners Court questioned if this project was the City's top priority for these use of these funds.
· No action was taken by the Commissioners Court on this item.
· The Commissioners Court asked for a priority list from the City for the use of the County's Discretionary Bond funds.
· City staff has prepared a set of projects to be considered for inclusion on a priority list to be sent to the County.
· The focus for these limited funds was on projects that have a small funding gap and pushes these projects over the finish line. The ranking criteria for this set of projects included the following:
o Funding Needed from the County,
o Availability of from a third party funding for the local match,
o Ability to begin construction quickly, and
o Potential for future commercial development.
· City staff will submit the approved list of projects to the Commissioners Court for consideration for use of the County's Discretionary Bond funds.
FINANCIAL SUMMARY:
· NA
BOARD OR COMMISSION RECOMMENDATION:
· N/A