Title
Consider/Discuss/Act on a Resolution Authorizing the City Manager to Enter into an Escrow Agreement with Timber Creek Properties, LLC for the Relocation of Gas Line Facilities Required for the Extension of Bloomdale Road from Community Avenue to CR 164
Summary
COUNCIL GOAL: Direction for Strategic & Economic Growth
(1A: Establish regional and infrastructure incentives to increase economic growth)
MEETING DATE: October 15, 2019
DEPARTMENT: Development Services / Engineering
CONTACT: Nicholas Ataie, P.E., Engineering CIP Manager
Jason Horn, P.E., Civil Engineer
RECOMMENDED CITY COUNCIL ACTION:
• Approval of Resolution.
ITEM SUMMARY:
• This Resolution authorizes the City Manager to enter into an Escrow Agreement with Timber Creek Properties, LLC to provide funding for the relocation of gas line facilities required for the Bloomdale Road from Community Avenue to CR 164 project.
BACKGROUND INFORMATION:
• Bloomdale Road from Community Avenue to CR 164 (CIP Project ST4227) is currently under design and is expected to begin construction by January 2020.
• Due to the proposed alignment of Bloomdale Road, existing gas lines owned by both Atmos and ONEOK are required to be realigned to cross Bloomdale Rd at or greater than a 75 degree angle.
• Timber Creek Properties, LLC is responsible to construct the southern two lanes of Bloomdale Rd, per their development infrastructure obligations, while the City of McKinney is constructing the northern two lanes under CIP Project ST4227.
• Timber Creek and City of McKinney staff have negotiated an agreement to share in the cost for Atmos and ONEOK to relocate the gas lines as well as the cost of the land needed to do so.
FINANCIAL SUMMARY:
• The total cost of the relocation is estimated to be $597,286.41. The City of McKinney’s portion is $298,643.21 (50%).
• The McKinney contribution for these expected costs are available in the Capital Improvements Program in ST4227.
BOARD OR COMMISSION RECOMMENDATION:
• N/A