Title
Consider/Discuss/Act on a Resolution Authorizing the City Manager to Enter into a Restated Interlocal Agreement with Collin County for Funding the Ridge Road (Creekside - US 380) Project
Summary
MEETING DATE: May 1, 2012
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 enter into a Restated Interlocal Agreement with Collin County to provide funding for the Ridge Road (Creekside - US 380) project.
BACKGROUND INFORMATION:
· This Restated Interlocal Agreement will adjust the final funding provided by Collin County bond funds for the Ridge Road (Creekside - US 380) project.
· Collin County has previously agreed to provide 50% of the project cost as a part of the ongoing partnership to improve regional mobility.
· The previous agreement provided Collin County bond funds in the amount of $1,442,228.
· This Restated Interlocal Agreement will increase the total Collin County bond funds for Ridge Road to $2,422,228.
· Upon approval by the Commissioner's Court, a budget amendment will be submitted to formally adjust the revenue allocations for this project.
FINANCIAL SUMMARY:
· The McKinney match for this project is available in the Capital Improvements Program in ST0227.
BOARD OR COMMISSION RECOMMENDATION:
· N/A