HomeMy WebLinkAboutResolution 3507-07-2007A Resolution
NO 3507-07 2007
APPROVING CITY OF FORT WORTH CANDIDATE PROJECTS FOR 2007
REGIONAL TOLL REVENUE FUNDING INITIATIVE
WHEREAS, the Regional Transportation Council (RTC) the Metropolitan Planning
Organization (MPO) policy body on June 18 2007 passed a motion that the North Texas
Tollway Authority (NTTA) undertake the development, design, construction, financing
operation, and maintenance of the SH 12I toll project, and requested that the Texas
Transportation Commission approve selection of NTTA, and
WHEREAS the Commission adopted a Minute Order on June 28 2007 approving
the selection and ordering that the mayor terms to be negotiated by the RTC staff shall
include (1) the timing and amount of the annual payments (2) adherence by the NTTA
with the RTC s toll rate policy (3) enforcement provisions and remedies for the NTTA s
failure to comply with the toll rate policy project schedule payment obligations and
other commitments and (4) the term of the agreement, and
WHEREAS the NTTA Board of Directors approved the agreed upon terms in its
meeting July 25 2007 and the RTC is anticipated to approve those terms August 9 2007
thereby allowing Texas Transportation Department staff to execute documents putting in
motion a financial closing for the agreement within 45 days and
WHEREAS financial closing will establish a North Central Texas Regional Toll
Revenue Funding Initiative providing for investing the up-front concession fees and
excess revenues from the SH 121 project in other transportation improvements in the
region, and
WHEREAS there is estimated to be approximately $86 52 million available for
transportation improvements in Tarrant County and
WHEREAS the RTC has established a transportation improvement prod ect selection
process that requires candidate projects to be submitted by entities in the County by
August 3 2007
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF FORT WORTH, TEXAS
That project applications be submitted on behalf of the City of Fort Worth for the
projects shown in the attachment
Adopted this 31st day of July 2007
ATTEST
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APPROUED
CITY COUNCIL
JUL 3 1 2007
City Secretary of the
City of Fort Worth, Texas