Title
Consider/Discuss/Act on an Ordinance Amending the 2010-11 Annual Budget, Including the 2011-2015 Capital Improvements Program for McKinney Ranch Limited Water Main Participation
Summary
MEETING DATE: June 21, 2011
DEPARTMENT: Development Services / Engineering
CONTACT: Jack Carr, P.E., Director of Engineering
RECOMMENDED CITY COUNCIL ACTION:
• Approval of the Ordinance.
ITEM SUMMARY:
• This Ordinance amends expenditures in the 2010-2011 Budget, including the 2011- 2015 Capital Improvements Program.
• This amendment creates a new CIP project WA2253 titled McKinney Ranch Limited Water Main Participation.
BACKGROUND INFORMATION:
• The 380 Agreement with McKinney Ranch, Ltd provides for the construction of water mains along Stacy Road, Ridge Road, and McKinney Ranch Parkway.
• The agreement provides for the City of McKinney to participate in the cost of construction of the mains in excess of 12-inches in diameter.
• The water mains have been completed and the developer has submitted an invoice requesting reimbursement for the cost to oversize the water mains.
FINANCIAL SUMMARY:
• Funds for this budget amendment will be obtained by appropriating funds from the Utility Development Impact Fee Fund to create the new project in the Capital Improvement Program WA2253, with a budget of $650,000.
BOARD OR COMMISSION RECOMMENDATION:
• N/A