Title
Consider/Discuss/Act on an Ordinance Amending the Fiscal Year 2020-2021 Annual Budget and Amending the 2021-2025 Capital Improvements Program to Provide Funds for the Bloomdale Road Extension Project (ST4227)
Summary
COUNCIL GOAL: Direction for Strategic & Economic Growth
(1A: Establish regional and infrastructure incentives to increase economic growth)
MEETING DATE: December 1, 2020
DEPARTMENT: Development Services / Engineering
CONTACT: Nicholas Ataie, P.E., Engineering CIP Manager
Jason Horn, P.E., Civil Engineer
RECOMMENDED CITY COUNCIL ACTION:
• Approval of the Ordinance.
ITEM SUMMARY:
• This Ordinance amends the Fiscal Year 2020-2021 Annual Budget and the 2021-2025 Capital Improvement Program to provide funding for the relocation of ONEOK and Atmos gas lines along the Bloomdale Road Extension Project (ST4227) for a total of $378,371.85.
BACKGROUND INFORMATION:
• On October 15, 2019, the City Council approved for the City of McKinney to enter into an escrow agreement with Timber Creek Properties, LLC to help fund the relocation of gas lines belonging to Atmos and ONEOK under Bloomdale Road.
• Timber Creek escrowed a total amount of $378,371.85 for the relocation which equates to approximately 50% of the total costs.
• A similar agreement with Atmos is being finalized and will be presented to council at a later date. The agreement will also be partially funded by the Timber Creek Properties, LLC escrow agreement.
• A budget amendment is needed to increase the project budget by the amount escrowed to the City to fund the relocation.
• There is a companion agenda item for a relocation and reimbursement contract with ONEOK related to this project also included in this council session.
FINANCIAL SUMMARY:
• With this amendment, the total project budget Bloomdale Road Extension Project (ST4227) will increase from $13,419,972 to $13,798,343.85.