Title
Consider/Discuss/Act on a Resolution Authorizing the City Manager to Enter into a Facilities Agreement with DD Ballfields, LLC for the Developer to Contribute the Funds for the Installation of Traffic Signal at Alma Road / Cendana Craig Ranch Apartment Driveway.
Summary
COUNCIL GOAL: Direction for Strategic & Economic Growth
(1A: Establish regional and infrastructure incentives to increase economic growth)
MEETING DATE: April 16, 2024
DEPARTMENT: Development Services / Engineering
CONTACT: Thuan Huynh, P.E., Transportation Engineering Manager
Shelley Lang, P.E. Assistant Director of Engineering
RECOMMENDED CITY COUNCIL ACTION:
• Approval of Resolution
ITEM SUMMARY:
• This Resolution authorizes the City Manager to enter into a Facilities Agreement with DD Ballfields, LLC for the developer to contribute the funds for the installation of a traffic signal at the intersection of Alma Road and Cendana Craig Ranch Apartment driveway.
• The estimated cost for design, equipment and construction of a new signal light is $572,292.52.
• DD Ballfields, LLC is funding one-third (1/3) of the total cost for design, purchase of traffic signal equipment and the installation of the traffic signal and the City will fund the remaining two-thirds (2/3).
• DD Ballfields, LLC paid for the design of the signal in the amount of $32,491.97.
• DD Ballfields, LLC will contribute the remaining developer contribution of $158,272.20.
• The City will fund $381,528.35 as part of CIP TR2268.
• An increase in developer contribution amount from $120,000.00 to $158,273 will be reflected in a budget amendment.
• Based on the lead time of equipment, this project is planned to start construction on September 9, 2024.
BACKGROUND INFORMATION:
• There is a companion item on the April 16, 2024 City Council regular agenda which includes a budget amendment to increase the developer contribution amount to fund for the installation of a traffic signal at the intersection of Alma Road and Cendana Craig Ranch Apartment driveway.
• DD Ballfields, LLC entered into a certain Annexation Facilities Agreement and the First Amendment with the City of McKinney which requires the Developer to construct “Public Improvements”, for the subdivision known as Cendana Craig Ranch Apartment, including a traffic signal at the intersection of Alma Road and Cendana Craig Ranch Apartment driveway.
• Under the Facilities Agreement, DD Ballfields, LLC will contribute a total amount of $158,272.20 which accounts for all associated costs required for construction of the new traffic.
FINANCIAL SUMMARY:
• With the approval of the budget amendment, the total project budget for the Alma Road / DD Ballfields Traffic Signal Installation Project (TR2268) will increase from $600,000 to $638,273.
• Upon approval of this item, the remaining balance in TR2268 will be $422,621.
BOARD OR COMMISSION RECOMMENDATION:
• N/A