Title
Consider/Discuss/Act on a Resolution Authorizing the City Manager to Enter into an Interlocal Agreement with Collin County for Funding for the Intersection Capacity Improvements along Virginia Parkway and Along Eldorado Parkway
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 an Interlocal Agreement with Collin County to provide funding for the Intersection Capacity Improvements along Virginia Parkway and along Eldorado Parkway.
BACKGROUND INFORMATION:
· This Interlocal Agreement will provide Collin County bond funds for the Intersection Capacity Improvements on Virginia Parkway and Eldorado Parkway.
· Collin County will provide 50% of the project cost as a part of the ongoing partnership to improve regional mobility.
· Upon approval by the Commissioners Court, a budget amendment will be submitted to formally adjust the revenue allocations for this project.
FINANCIAL SUMMARY:
· Upon approval of the ILA, the County Bond Program will provide funding for 50% of the project cost.
· The local match for this project is available in the Capital Improvements Program in ST7128.
BOARD OR COMMISSION RECOMMENDATION:
· N/A