Title
Consider/Discuss/Act on a Resolution Repealing Resolution 2012-05-057(R) and the Associated Interlocal Agreement and Authorizing the City Manager to Enter into an Amended Interlocal Agreement with Collin County for Funding for the Ridge Road (Creekside - US 380) Project
Summary
MEETING DATE: June 19, 2012
DEPARTMENT: Development Services / Engineering
CONTACT: Jack Carr, P.E., Director of Engineering
Matt Richardson, P.E., CIP Manager
RECOMMENDED CITY COUNCIL ACTION:
· Approval of the Resolution.
ITEM SUMMARY:
· This Resolution takes the following action related to funding for the Ridge Road (Creekside - US 380) project:
· Repeals Resolution 2012-05-057(R) approved by the City Council on May 1, 2012.
· Repeals the Restated Interlocal Agreement (ILA) authorized by said resolution.
· Authorizes the City Manager to enter into a new amended ILA that provides the same amount of funds, but does not rescind the original ILA approved in 2010.
BACKGROUND INFORMATION:
· The original ILA for Ridge Road (Creekside - US 380) project was approved when the project was initiated in 2010.
· Resolution 2012-05-057(R), approved by the City Council on May 1, 2012, authorized an increase in the amount of County contribution to the project through a restated ILA. This ILA rescinded and replaced the original 2010 ILA.
· Since Collin County has made payments based on the original 2010 agreement, that agreement cannot be rescinded; therefore, the amended Interlocal Agreement authorized by this Resolution will leave the original ILA in place.
· The new ILA will increase the funding provided by Collin County to $2,422,228, which is the same amount stated in the ILA authorized by the Council in May.
· 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...
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