Title
Consider/Discuss/Act on a Resolution Authorizing the City Manager to Execute an Interlocal Agreement with Collin County for Funding for the FM 543 Realignment at US 75
Summary
MEETING DATE: September 3, 2013
DEPARTMENT: Development Services / Engineering
CONTACT: Matt Richardson, P.E., CIP Manager
RECOMMENDED CITY COUNCIL ACTION:
· Approval of the Resolution.
ITEM SUMMARY:
· This Resolution authorizes the City Manager to execute an Interlocal Agreement with Collin County to provide funding for the FM 543 Realignment at US 75.
BACKGROUND INFORMATION:
- This Interlocal Agreement will provide Collin County Transportation Bond funds for the FM 543 Realignment at US 75.
- Collin County will provide funding not-to-exceed $2,455,000 as a part of its ongoing partnership to improve regional mobility.
- This partnership with Collin County will provide funding for approximately one-half of the total project cost.
FINANCIAL SUMMARY:
- Upon approval of the ILA, the Collin County Transportation Bond Program will provide funding not-to-exceed $2,455,000. This revenue is currently budgeted in the Capital Improvement Program in ST6091.
- The local match for this project is currently available in the Capital Improvement Program in ST6091.
BOARD OR COMMISSION RECOMMENDATION:
· N/A