Title
Consider/Discuss/Act on a Resolution Authorizing the City Manager to Enter into an Escrow Agreement with British American Properties of Texas, Inc. for the Construction of a Traffic Signal at University Drive (US 380) and the Entry to 380 McKinney C & D Landfill.
Summary
COUNCIL GOAL: Direction for Strategic & Economic Growth
(1A: Establish regional and infrastructure incentives to increase economic growth)
MEETING DATE: February 1, 2022
DEPARTMENT: Development Services / Engineering
CONTACT: Thuan Huynh, P.E., Transportation Engineering Manager
Gary Graham, P.E., P.T.O.E. Director of Engineering
RECOMMENDED CITY COUNCIL ACTION:
• Approval of Resolution
ITEM SUMMARY:
• This Resolution authorizes the City Manager to enter into an Escrow Agreement with British American Properties of Texas, Inc. (“Owner”) for the construction of a traffic signal at University Drive (US 380) and the entry to 380 McKinney C & D Landfill.
• Through the agreement, the Owner of the Landfill will be responsible for half of the construction cost for the new signal. The owner will escrow $157,800.00 for their portion of the traffic signal, which includes the design, construction, signal equipment, and installation costs.
• Construction is currently planned to begin in April 2022.
BACKGROUND INFORMATION:
• British American Properties of Texas, Inc., owns the 380 McKinney C & D Landfill, a Type IV Construction & Demolition Landfill, located at 2540 E. University Drive in McKinney, Texas 75069.
• The Owner and City have determined that the new traffic signal is necessary due to the increased traffic and occurrence of collisions near this uncontrolled intersection.
FINANCIAL SUMMARY:
• Funding is provided by the Capital Improvement Project - US 380 at C&D Landfill Traffic Signal Installation Project (TR2123).
• With the escrow fund, there will be $320,000 available in TR2123.
BOARD OR COMMISSION RECOMMENDATION:
• N/A