Title
Consider/Discuss/Act on an Ordinance Amending the Fiscal Year 2021-2022 Annual Budget and Amending the 2022 - 2026 Capital Improvements Program to Provide Funds for the CIP Project: Custer Road - US 380 to FM 1461 (ST9115)
Summary
COUNCIL GOAL: Direction for Strategic & Economic Growth
(1A: Establish regional and infrastructure incentives to increase economic growth)
MEETING DATE: January 4, 2022
DEPARTMENT: Development Services / Engineering
CONTACT: Nicholas Ataie, P.E., Engineering CIP Manager
Joshua Cotton, P.E., Senior CIP Engineer
RECOMMENDED CITY COUNCIL ACTION:
* Approval of the Ordinance.
ITEM SUMMARY:
* This Ordinance amends the Fiscal Year 2021 - 2022 Annual Budget and the 2022 - 2026 Capital Improvement Program by accepting $155,000 in reimbursable grant funding from TxDOT and appropriating it in the Streets Construction Fund to provide funding for traffic signal equipment for the TxDOT construction of Custer Road - US 380 to FM 1461 Project (ST9115).
BACKGROUND INFORMATION:
* On May 21, 2019, the City Council approved entering into an agreement for the furnishing of traffic signal equipment by a municipality with the Texas Department of Transportation (TxDOT) for traffic signal equipment to be furnished by the City of McKinney (City) for the Custer Road intersections at Bloomdale Road and FM 1461.
* In June 2019, the agreement was executed between TxDOT and the City. TxDOT agreed to reimburse the City $155,000 for the traffic signal equipment.
* A budget amendment is needed in order to increase the project budget to cover the initial cost of the traffic signal equipment to be furnished by the City for the Custer Road intersections at Bloomdale Road and FM 1461.
FINANCIAL SUMMARY:
* This Ordinance amends the Fiscal Year 2021 - 2022 Annual Budget and the 2022 - 2026 Capital Improvement Program by accepting $155,000 in reimbursable grant funding from TxDOT and appropriating it in the Streets Construction Fund to provide fun...
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