Agenda Information Sheet
DEPARTMENT: Engineering Services
CM/ ACM: Jon Fortune
Date: September 13, 2016
SUBJECT
Title
Consider adoption of an ordinance approving an Advance Funding Agreement between the City of Denton and the Texas Department of Transportation (TxDOT), concerning City cost participation in TxDOT's grade separation improvements project for IH 35E, between State School Road/Mayhill Road and Loop 288 (CSJ No. 0196-01-106); authorizing the City Manager to execute the agreement; and providing for an effective date.
Body
BACKGROUND
At the Council's direction, City staff has been working with TxDOT staff since the Fall of 2015 to have TxDOT construct grade separation improvements along I-35E at Mayhill (add a U-Turn on the west side), Brinker Rd. (add an I-35E overpass to connect Brinker Rd. to the I-35E south frontage road) and Loop 288 (replace the existing I-35E overpass with a longer overpass to allow 4-lanes of Loop 288 in each direction to alleviate congestion at this highly congested intersection). TxDOT has completed the roadway plans to accomplish this work and advertised the project. Bids are scheduled to be received on September 9, 2016, with construction contract award scheduled for September 29, 2016.
As part of the Chapter 380 Economic Development Agreement with Buc-ee's, the developer agreed to fund a portion of the Brinker Rd. overpass to expedite the I-35E improvements, with those costs being reimbursed by the City under terms of the agreement. TxDOT has identified that total participation requirement to be $2,148,894, as a fixed cost to the City (TxDOT will only enter into agreements with governmental agencies, not private parties). TxDOT requires the funding be provided prior to award of the construction contract on September 29, 2016. The developer has agreed to provide this funding to the City in a timely fashion for transfer to TxDOT. The mechanism for this funding participation is an Advance Funding Agreement (...
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