Title
Consider/Discuss/Act on an Ordinance Amending the Fiscal Year 2013-2014 Annual Budget and Amending the 2014-2018 Capital Improvements Program, to Provide Funds for the Construction of Collin-McKinney Parkway Between Stacy Road and Village Park Drive
Summary
MEETING DATE: April 15, 2014
DEPARTMENT: Development Services/Engineering
CONTACT: Michael Hebert, PE, Assistant Director of Engineering
RECOMMENDED CITY COUNCIL ACTION:
· Approval of the Ordinance.
ITEM SUMMARY:
· This Ordinance amends the FY 2013-2014 annual budget and the 2014 -2018 Capital Improvements Program (CIP) budget by transferring $270,000 from Roadway Impact Fees (Zone I).
· This item adds Project FA 4314 into the Capital Improvements Program.
BACKGROUND INFORMATION:
· The Agreement with RH of Texas Limited Partnership (14-7637) is a companion agenda item for the construction of Collin-McKinney Parkway between Stacy Road and Village Park Drive.
· This roadway creates a needed link and may also improve emergency response time in the area.
· This Ordinance creates a new CIP project and provides the funds needed for the completion of the roadway through participation with the developer of the Villas at Stacy Addition.
FINANCIAL SUMMARY:
· The financial summary shown in the attached Ordinance details the transfer of funds from Roadway Fee Zone I.
BOARD OR COMMISSION RECOMMENDATION:
· N/A