Title
Consider/Discuss/Act on an Ordinance Amending the Fiscal Year 2024-2025 Annual Budget and Amending the 2025-2029 Capital Improvement Program to Provide Funds for the Trinity Falls Parkway & FM 543 Traffic Signal Project (TR2551)
Summary
COUNCIL GOAL: Operational Excellence
(2A: Balance Available Resources to Accommodate the Growth and Maintenance Needs of the City)
MEETING DATE: December 17, 2024
DEPARTMENT: Development Services / Engineering
CONTACT: Thuan Huynh, P.E., Transportation Engineering Manger
Gary Graham, P.E., P.T.O.E, Director of Engineering
RECOMMENDED CITY COUNCIL ACTION:
* Approval of the Ordinance.
ITEM SUMMARY:
* This Ordinance amends the Fiscal Year 2024-2025 Annual Budget and the 2025-2029 Capital Improvement Program to provide funds in the amount of $750,000 for the installation of a traffic signal at the intersection of Trinity Falls Parkway and Weston Road (FM 543) per the accompanying Interlocal Agreement with the McKinney Municipal Utility District (MUD) No. 1 and McKinney Municipal Utility District (MUD) No. 2.
* The City is responsible for advancing the project cost for the design and construction of the traffic signal at Trinity Falls Parkway and Weston Road (FM 543), but the MUDs will pay the City $175,000 per year until the City is fully reimbursed for the cost of installation of the traffic signal.
BACKGROUND INFORMATION:
* The MUDs and the City have determined that the new traffic signal is necessary due to the increased traffic at the intersection of Trinity Falls Parkway and Weston Road (FM 543).
FINANCIAL SUMMARY:
* This Ordinance amends the Fiscal Year 2024-2025 Annual Budget and the 2025-2029 Capital Improvement Program by transferring $750,000 from the General Fund balance and appropriating the funds in the Streets Construction Fund for the Trinity Falls Parkway & FM 543 Traffic Signal Project (TR2551).
* With the approval of this amendment, the total project budget of Trinity Falls Parkway & ...
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