Title
Consider/Discuss/Act on a Resolution Supporting the Historic Flour Mill Catalyst TOD Sustainable Development Grant Project and Authorizing the City Manager to Enter Into an Interlocal Cooperative Agreement with the North Central Texas Council of Governments.
Summary
MEETING DATE: July 20, 2010
DEPARTMENT: Development Services - Planning
CONTACT: Kevin Spath, AICP, CFM, Senior Long Range Planner
Jennifer Arnold, Planner II
Janay Tieken, Grants Coordinator
RECOMMENDED CITY COUNCIL ACTION:
• Approval of the Resolution.
ITEM SUMMARY:
• In response to the North Central Texas Council of Governments 2009-2010 Sustainable Development Call for Projects, Staff submitted an infrastructure project grant application for the Historic Flour Mill Catalyst Transit Oriented Development Project (“Historic Flour Mill Catalyst TOD Project”) in October 2009.
• On June 3, 2010, the Regional Transportation Council (RTC) approved $1,760,000 in Regional Toll Revenue (RTR) funds for the Historic Flour Mill Catalyst TOD Project.
• These funds will be used to complete various public improvements/ streetscape improvements on key streets in support of private redevelopment of the Flour Mill site.
• The Resolution formally supports the Historic Flour Mill Catalyst TOD Sustainable Development Grant Project and authorizes the City Manager to enter into an Interlocal Cooperative Agreement with the North Central Texas Council of Governments (NCTCOG).
• Concurrently with the negotiation of the Interlocal Cooperative Agreement, Staff will also negotiate a Development Agreement between the City and the private sponsor (Bradley S. Kidwell) in order to ensure that Mr. Kidwell follows through on his commitment to adaptively redevelop the Flour Mill complex into a mixed-use site that incorporates urban-style loft living with complementary ground floor commercial uses.
• Staff anticipates detailed design/engineering work to be completed during FY 2010-2011 with construction beginning in late 2011. As required by the RTC, the project must begin construction by March 2013.
BACKGROUND INFORMATION:
• The NCTCOG Sustainable Development Competitive Funding Program was created by its policy body, the Regional Transportation Council (RTC), to positively address existing transportation system capacity, rail access, air quality concerns, and/or mixed land uses, and to encourage public/private partnerships that foster growth and development in and around historic downtowns, main streets, infill areas, passenger rail lines and stations.
• To support this effort, the Regional Transportation Council designated over $40 million for sustainable infrastructure projects and $1 million for sustainable planning projects throughout the North Texas region through its 2009-2010 Call for Projects.
• 33 infrastructure project applications were submitted across the eastern sub-region (totaling $62.4 million in requested grant funds). The infrastructure project applications were ranked based on 32 specific criteria.
• Because only approximately $27.6 million was available for eastern sub-region projects, only the top 18 projects were selected and approved for funding. The Historic Flour Mill Catalyst TOD Project application ranked 3rd highest out of the 33 applications that were submitted.
FINANCIAL SUMMARY:
• The total project cost is $2,200,000.
• 80% of the total project cost ($1,760,000) is covered by the NCTCOG Sustainable Development grant.
• 20% of the total project cost is required to be covered by local match. The City of McKinney’s local match is $440,000.
• All funding is handled on a reimbursement basis and City expenditures made prior to signing an Interlocal Cooperative Agreement are not eligible expenses for reimbursement.
• Funding to complete the public/streetscape improvements associated with the Historic Flour Mill Catalyst TOD Project is available through the Capital Improvements Program and associated budget. The City of McKinney, not the RTC, will be responsible for any cost overruns.