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Title
Developer Participation Agreement with Alluvium Development, Inc. for Upsizing of Roadway Improvements for Grandway Blvd. for a not to exceed amount of $442,000
Presenter
Gabe Johnson, Director of PublicWorks
Recommended Action
Approve
Analysis
Grandway Development is the retail/commercial development currently located between Lake Ridge Parkway and Coastal Blvd. in Grand Prairie. The proposed road will be built in conjunction with the Grandway Development. In an effort to attract retail/commercial developments at this location, developer Terrance Jobe of Alluvium Development, Inc., has proposed constructing the necessary roadway infrastructure to prepare the area for development and to serve other adjacent properties and provide service to additional properties.
This agreement is proposed for construction with the City and the Alluvium Development, Inc. including paving and drainage that will allow this area to be "Development Ready." This agreement covers the City Capital Improvement Project (CIP) portion that the Developer is constructing instead of the City constructing to take advantage of the other work done by the Developer. This is being done at a substantial savings to the City' CIP for this infrastructure.
Project will include design and construction of 9,280 feet of 8" 4000 psi reinforced concrete pavement 48 feet wide with 6" curb per City Specifications. It will also include 16,372 feet of 5' concrete sidewalk with barrier free ramps.
Estimated Total project cost will be $1,995,343 for Grandway Blvd. from Lake Ridge Parkway to Coastal Blvd. Alluvium Development has agreed to enter into this development agreement with the City to get this much needed roadway upsizing completed for a 66/34 split between Alluvium Development, Inc. and the City of Grand Prairie. Alluvium Development, Inc. will also be constructing water, sewer, storm water, left hand turn lane and decel lane at 100% their expense.
All public participation in the cost of the Public Improvements associated with the project is dedicated to the extension of the improvements as per the Capital Improvements Plan, to increase necessary capacity for existing and in anticipation of other future development in the area as approved in the City's Capital Improvement Projects budget. Further, the City’s participation shall be based on funds appropriated for this project in the Capital Projects Funds. The City’s participation amount will remain applicable for a period not to exceed 24 months. If work on the Public Improvements has not been initiated within 24 months of the date this Agreement was executed and the Agreement has not been amended by the City Council to provide for an extension, then this Agreement shall be terminated and the City will have no further obligation under this Agreement.
This item will be reviewed by the Finance and Government Committee and the City Council Development Committee at their meetings held on June 5, 2020.
Financial Consideration
Funding for the Developer Participation Agreement for Alluvium Development, Inc. of Grandway Blvd, for a not to exceed amount of $442,000, is available in the Street Capital Project Fund (400192) WO #02007303 (FY20 Developer Participation STRT)