Title
Consider/Discuss/Act on a Resolution Authorizing the Interim City Manager to Enter into an Interlocal Agreement with Collin County for Funding the Expansion of Lake Forest Drive from Wilmeth Road to Bloomdale Road
Summary
COUNCIL GOAL: Direction for Strategic & Economic Growth
MEETING DATE: April 19, 2016
DEPARTMENT: Development Services / Engineering
CONTACT: Gary Graham, CIP & Transportation Engineering Manager
RECOMMENDED CITY COUNCIL ACTION:
• Approval of the Resolution.
ITEM SUMMARY:
• This Resolution authorizes the Interim City Manager to enter into an Interlocal Agreement with Collin County to provide funding for the expansion of Lake Forest Drive from two to four lanes from Wilmeth Road to Bloomdale Road.
BACKGROUND INFORMATION:
• This Interlocal Agreement will provide Collin County bond funds for the expansion of Lake Forest Drive from Wilmeth Road to Bloomdale Road.
• Collin County will provide $1,900,000 towards the total project cost of $5,124,000 as a part of the ongoing partnership to improve regional mobility.
FINANCIAL SUMMARY:
• The County Bond Program provides funding up to 50% of the total project costs.
• The McKinney match for this project is available in the Capital Improvements Program in ST 6093.
• With the $1,900,000 Collin County Bond funds allocated to this project, the cost of the project to the City is $3,224,000.
BOARD OR COMMISSION RECOMMENDATION:
• N/A