Title
Resolution - Approval of a Local Project Advance Funding Agreement with the Texas Department of Transportation for the Funding of the Ultimate Intersection Improvements Along the SH 360 Corridor in the Amount of $10,000,000.00 (Street Bond Fund)
Requested Action
Approval of the resolution.
Recommendation
Approval of the Local Project Advance Funding Agreement with TxDOT to improve the intersections along the SH 360 Corridor to their ultimate configurations.
Description/History
In order for TxDOT to spend funds or other resources on a transportation project with a local government, a written contract must be executed between the parties. TxDOT executes these contracts through a Local Project Advance Funding Agreement (LPAFA). These Advance Funding Agreements outline which party is responsible for conducting the work and procuring property, goods or services, such as: right-of-way, engineering plans, utility relocations, environmental studies, construction services and funding.
The LPAFA is for the design and construction of the ultimate intersection improvements (Master Thoroughfare Plan widths and turn lanes) along the SH 360 corridor for N. Holland Road, E. Broad Street, Heritage Parkway and Lone Star Road.
Justification
The Local Project Advance Funding Agreement outlines that the City of Mansfield is responsible for the financial participation and the State will be responsible for the design and construction of the improvements. The LPAFA requires a first payment of $5,000,000.00 due on or before January 15, 2016 and the 2nd payment of $5,000,000.00 due on or before January 15, 2017.
The Public Works Director will be in attendance at the meeting to answer Council's questions.
Funding Source
Street Bond Fund
Prepared By
David Boski, P.E.
Transportation Engineer
Public Works Department
Sponsor - Steve Freeman, P.E - Director of Public Works