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Title
Authorize the City Manager to enter into an Advance Funding Agreement (AFA) with TxDOT for the use of SH 121 Subaccount Regional Toll Revenue (RTR) funds for the construction of the NE 15th Street connection between Tarrant Road and the eastbound IH 30 frontage road
Presenter
Jim Sparks, Director of Transportation
Recommended Action
approve
Analysis
The City of Grand Prairie City Council awarded the NE 15th Street connection project along with the Gifford/Bagdad project to Haydon Building Corp. at their August 23, 2011 meeting. Due to budget overruns on right of way acquisition and construction, the previously approved Regional Transportation Council (RTC) funds were insufficient to cover the total project cost. Funds in the amount of $488,537 were moved from the Reserve Contingency for at Risk Transportation Projects fund to cover the budget overrun and allow the City to award the construction contract.
Staff met with representatives of the North Central Texas Council of Governments and requested additional funding in the amount of $390,830 which is 80% of the budget overrun. The Regional Transportation Council approved the funds earlier this year as part of the TIP/STIP modification process.
Financial Consideration
The City has already awarded the construction contract. The RTR funds will be wired to the City upon approval of the AFA by the State. The RTR funds will reimburse the Reserve Contingency for at Risk Transportation Projects fund in the amount of $390,830.