Title
Consider/Discuss/Act on an Ordinance Amending the Fiscal Year 2015-2016 Annual Budget and the 2016 - 2020 Capital Improvements Program to Provide Funds for the McKinney Ranch Parkway Improvements from Hardin Boulevard to US 75 Project
Summary
COUNCIL GOAL: Direction for Strategic and Economic Growth
MEETING DATE: June 7, 2016
DEPARTMENT: Development Services / Engineering
CONTACT: Gary Graham, PE, PTOE CIP and Transportation Engineering Manager
Jason Horn, PE, Civil Engineer
RECOMMENDED CITY COUNCIL ACTION:
• Approval of the Ordinance.
ITEM SUMMARY:
• This Ordinance amends expenditures in the Fiscal Year 2015-2016 Annual Budget and the 2016 - 2020 Capital Improvement Program Project by transferring $2,750,000 from the Roadway Impact Fee (Zone J) Fund to the Street Construction Fund and appropriating the funds to CIP project called ST1614 - McKinney Ranch Parkway Improvements from Hardin Boulevard to US 75.
BACKGROUND INFORMATION:
• McKinney Independent School District is converting McKinney Ranch Parkway from a two lane roadway to a four lane divided roadway up to the eastern edge of their property line.
• Three developments are also improving McKinney Ranch Parkway along their property lines.
• This project is making the necessary improvements to McKinney Ranch Parkway in the areas between the developer built portions of roadway in order to have a completed four lane divided roadway from Hardin Boulevard to US 75.
• The project will provide for mobility to the new MISD stadium as well as other development in the area.
• The proposed improvements will be funded from roadway impact fees (Zone J).
FINANCIAL SUMMARY:
• The Amendment of the FY 2015-2016 annual CIP budget will create and fund a new project ST1614 in the amount of $2,750,000.
BOARD OR COMMISSION RECOMMENDATION:
• N/A