Title
Consider/Discuss/Act on an Ordinance Amending the Fiscal Year 2017-2018 Annual Budget and Amending the 2018-2022 Capital Improvements Program and to Accept Funds from Trinity Falls Holdings LP, A Delaware Limited Partnership, as per the Executed Third Amendment to the 2012 Development Agreement for the Design and Construction of McKinney Fire Station #10
Summary
COUNCIL GOAL: Safe and Secure Community
MEETING DATE: April 3, 2018
DEPARTMENT: Fire Department
Public Works Department, Facilities Construction Division
CONTACT: Danny Kistner, Fire Chief
Patricia L. Jackson, PE, Facilities Construction Manager
David T. Brown, PE, Director of Public Works
RECOMMENDED CITY COUNCIL ACTION:
* Approval of the Ordinance.
ITEM SUMMARY:
* This Ordinance amends the FY2017-2018 Annual CIP Budget and the 2018-2022 Capital Improvements Program and accepts $765,000 from Trinity Falls Holdings LP, A Delaware limited partnership, as per the executed Third Amendment to the 2012 Development Agreement. These funds have been placed in the CIP Project No. FI1734 for the design and construction of McKinney Fire Station #10 located at 1150 County Road 228 in McKinney.
BACKGROUND INFORMATION:
* Per the Third Amendment to the 2012 Development Agreement for the area known as Trinity Falls, executed October 20, 2017, the City, along with funds from Trinity Falls Holdings, LP, will build McKinney Fire Station #10 located at 1150 County Road 228 in McKinney.
* This Ordinance amends the 2018 - 2022 Capital Improvements Projects budget to fund the project.
FINANCIAL SUMMARY:
* Per the 2012 Development Agreement, Fire Station #10 (FI1734) will be partially funded in the amount of $7,650,000 spanning two (2) installments. The first installment of $765,000 has been received and the second installment of $6,885,000 is to be received on or before July 1, 2018.
* This Ordinance amends the FY2017-2018 Annual CIP Budget and the 2018-2022 Capital Improvements Program by appr...
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