Title
Consider/Discuss/Act on a Resolution Authorizing the City Manager to Enter Into an Interlocal Agreement with the City of Frisco, Texas, for Funding the Construction of the Intersection Improvements at Eldorado Parkway and Custer Road
Summary
COUNCIL GOAL: Direction for Strategic & Economic Growth
(1A: Establish regional and infrastructure incentives to increase economic growth)
MEETING DATE: September 6, 2022
DEPARTMENT: Development Services / Engineering
CONTACT: Gary Graham, P.E., Director of Engineering
Manjeeta Sitaula, P.E., CIP Engineer
RECOMMENDED CITY COUNCIL ACTION:
• Approval of the Resolution.
ITEM SUMMARY:
• This Resolution authorizes the City Manager to enter into an Interlocal Agreement with the City of Frisco, Texas (“Frisco”) for funding associated with the construction of the Intersection Improvements at Eldorado Parkway and Custer Road (CIP Project ST1838).
BACKGROUND INFORMATION:
• The Capital Improvement Program (CIP) includes funding under CIP Project ST1838 for the construction of improvements along Eldorado Parkway from Custer Road to Orion Drive generally including widening of Eldorado Parkway from 4-lanes to 6-lanes and associated intersection improvements at Custer Road. (“Project”)
• The Project includes improvements to the intersection at Eldorado Parkway and Custer Road which are located within the City of Frisco municipal boundaries.
• An Interlocal Agreement (ILA) has been developed and reviewed by the City of McKinney and the City of Frisco which outlines the obligations and payments for the improvements, generally as follows:
o The City of McKinney agrees to design, bid, and construct, as part of the Project, the approved intersection improvements specified provided the City of Frisco pays reasonable and necessary construction costs of the intersection improvements which are located within their municipal boundaries.
• The cost of improvements under this ILA are estimated at $158,122.26 and described in detail in the ILA.
• Upon city execution of this ILA, the City of Frisco will obtain authorization from their governing body (expected September 20, 2022) to fully execute the agreement.
• Within 15 days of the agreement execution by both parties, the City of Frisco will tender funds (“Escrow”) to the City of McKinney for eligible construction costs covered under the terms of the ILA.
• Construction of the project is expected to commence in September 2022 and is anticipated to be completed within 270 calendar days (June 2023).
FINANCIAL SUMMARY:
• The agreement (ILA) provides funding for CIP Project ST1838 in the amount of $158,122.26 subject to change based on actual construction costs of eligible improvements.
• A future budget ordinance amending the FY22 or FY23 Capital Improvement Program will be required at a later date to add City of Frisco funding into CIP Project ST1838.
BOARD OR COMMISSION RECOMMENDATION:
• N/A