Title
Consider/Discuss/Act on a Resolution Authorizing the City Manager to Execute a Local Project Advance Funding Agreement (LPAFA) with the Texas Department of Transportation (TxDOT) to Receive Regional Toll Revenue for the Design and Construction of Stacy Road Lanes 5 & 6 from Ridge Road to SH 121
Summary
MEETING DATE: May 21, 2013
DEPARTMENT: Development Services/Engineering
CONTACT: Gary Graham, PE, PTOE, Transportation Engineering Manager
Matt Richardson, PE, CIP Manager
RECOMMENDED CITY COUNCIL ACTION:
· Approval of Resolution.
ITEM SUMMARY:
· This Resolution authorizes the City Manager to execute a LPAFA with TxDOT to address RTR funding and the city match, for the design and construction of Stacy Road Lanes 5 & 6 from Ridge Road to SH 121, as follows:
- RTR $1,280,000
- City match $320,000
BACKGROUND INFORMATION:
· The estimated cost for design and construction is $1,600,000 and will be shared as provided above.
· A concurrent agenda item authorizes a design contract for this project.
FINANCIAL SUMMARY:
· This Resolution authorizes a LPAFA with the Texas Department of Transportation that obligates the City share of the design and construction in the amount of $320,000.
· The Capital Improvements Program (ST3204) includes $300,000 in City funds for this project
· The remaining $20,000 is the subject of a concurrent budget amendment.
BOARD OR COMMISSION RECOMMENDATION:
· N/A