Title
Consider/Discuss/Act on a Resolution Authorizing the City Manager to Execute a Roadway Impact Fee Reimbursement Agreement with Eastgroup Properties, LP, for the Construction of Portions of Collin McKinney Parkway and Hardin Boulevard and Dedication of Right-of-Way, Serving an Approximately 27.64 Acre Industrial Development (McKinney 121), Generally Located on the North Side of Collin McKinney Parkway and the West Side of Hardin Boulevard
Summary
COUNCIL GOAL: Direction for Strategic and Economic Growth
(1A: Establish regional infrastructure incentives to increase economic growth)
MEETING DATE: December 5, 2023
DEPARTMENT: Development Services
CONTACT: Gary Graham, P.E., Director of Engineering
Brandon Opiela, Business and Data Analytics Manager
RECOMMENDED CITY COUNCIL ACTION:
* Approval of the Resolution
ITEM SUMMARY:
* This item authorizes the City Manager to enter into a roadway impact fee reimbursement agreement with Eastgroup Properties, LP, for the construction of portions of Collin McKinney Parkway and Hardin Boulevard and the dedication of right-of-way, generally located on the north side of Collin McKinney Parkway and the west side of Hardin Boulevard.
* In conjunction with the development of Phase 1 and 2 of the McKinney 121 industrial development (approximately 27.64 acres), the applicant was required to construct two west bound lanes of Collin McKinney Parkway (extending approximately 984 linear feet), two east bound lanes of Collin McKinney Parkway (extending approximately 275 linear feet), a southbound right turn lane on Hardin Boulevard (extending approximately 253 linear feet), a northbound left turn lane on Hardin Boulevard (extending approximately 347 linear feet) and to dedicate the respective rights-of-way (all of which are roadway impact fee credit eligible and shown on the attached roadway construction exhibit).
* The developer spent a total of $1,167,791.00 constructing the roadway sections described above.
* The ...
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