HomeMy WebLinkAboutResolution 4136-09-2012Resolution
NO. 4136-09-2012
A RESOLUTION AUTHORIZING EXECUTION OF A LOCAL PROJECT ADVANCED
FUNDING AGREEMENT WITH THE TEXAS DEPARTMENT OF TRANSPORTATION IN
AN AMOUNT NOT TO EXCEED $12,654,000.00 TO CONSTRUCT THE WALSH RANCH
PARKWAY INTERCHANGE AT IH -30
WHEREAS, the proposed Walsh Ranch Parkway Interchange at IH -30 will serve as the gateway to the
proposed 7,207 acre master planned development and provides significant operational and safety
enhancements to the traveling public with the elimination of the two -way frontage road system; and
WHEREAS, the City Council approved Resolution 3679 -11 -2008, voicing their unanimous support for
funding construction of the Walsh Ranch Parkway interchange at IH -30; and
WHEREAS, a Master Funding Agreement between the City of Fort Worth and the Texas
Department of Transportation ( "State ") has been adopted and states the general terms and
conditions for transportation projects developed through a Local Project Advanced
Funding Agreement (LPAFA); and
WHEREAS, the City of Fort Worth desires to enter into a Local Project Advance Funding Agreement
with the Texas Department of Transportation for construction of the Walsh Ranch Parkway Interchange
at IH -30 (CSJ: 1068 -05 -009 & 0008 -03 -105).
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF FORT WORTH, TEXAS:
The City Manager or his designee is authorized to execute a Local Project Advance Funding
Agreement with the Texas Department of Transportation in an amount of $12,654,000.00 for the
construction of the Walsh Ranch Parkway Interchange at IH -30.
Adopted this 25`x' day of September, 2012
Attest:
Mary J. Kayser"; lty Secretary
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City of Fort Worth, Texas
Mayor and Council Communication
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DATE: Tuesday, September 25, 2012 REFERENCE NO.: C -25879
LOG NAME: 06WALSH RANCH 1 -30 INTERCHANGE
SUBJECT:
Adopt Resolution Authorizing Execution of a Local Project Advanced Funding Agreement with the Texas
Department of Transportation and a Funding Agreement with Walsh Ranches, L.P., in the Amount of
$12,654,000.00 for Construction of the Walsh Ranch Parkway Interchange at Interstate Highway 30 at a
Total Estimated Cost of $13,913,187.00 (COUNCIL DISTRICT 3)
RECOMMENDATION:
It is recommended that the City Council:
1. Adopt the attached Resolution authorizing the execution of a Local Project Advanced Funding
Agreement with the Texas Department of Transportation in the amount of $12,654,000.00 for Construction
of the Walsh Ranch Parkway Interchange at Interstate Highway 30 at a total estimated cost of
$13,913,187.00; and
2. Authorize the City Manager to execute a Funding Agreement with Walsh Ranches, L.P. for the purpose
of reimbursement for costs in excess of the funding Agreement with Texas Department of Transportation.
DISCUSSION:
The purpose of this Mayor and Council Communication is to seek authorization to enter into two
Agreements for construction and cost reimbursement for the Walsh Ranch Parkway Interchange at IH -30
in west Fort Worth (WRP Interchange).
On May 6, 2003, the City entered into an economic development Agreement (M &C C- 20876, City
Secretary No. 28585) with Walsh Ranches, L.P. Since that time and in accordance with the terms of that
Agreement, both the City and Walsh Ranches L.P., have made significant infrastructure improvements
related to the development of the Walsh Ranch as a master planned community. An exhibit of the
proposed Walsh Ranch development is attached for reference.
On November 11, 2008, (M &C G- 16351) the City Council approved Resolution 3679 -11 -2008, seeking
funding support for the construction of the WRP Interchange from our regional transportation partners.
While serving as the gateway to the development, the interchange and the associated ramps will also
provide significant operational and safety enhancements to the traveling public with the elimination of the
two -way frontage road system.
Staff has worked closely with the Texas Department of Transportation and the North Central Texas
Council of Governments to collectively identify the amount of $12,654,000.00 in state and federal funds to
design and construct this TxDOT -let project. However, there is an anticipated construction cost in the
amount of $13,913,187.00, leaving a funding shortfall in the amount of $1,259,187.00 which is the
responsibility of the City under the terms of the LPAFA. The City has negotiated a Funding Agreement
with Walsh Ranches, L.P., for it to reimburse the City for all costs the City incurs related to the
Logname: 06WALSH RANCH I -30 INTERCHANGE Page I of 2
construction of the Project, including the funding shortfall.
The project h;scheduled to commence in January Of2O13 and iS located in COUNCIL DISTRICT ].
CERTIFICATION: FISCAL INFORMATION /
The Financial Management Services Director certifies that this action will have no material effect onCity
funds.
FUND CENTERS:
TO Fu nd/Accou nt/C enters
Submitted for City Manager's Office by:
Originating Department Head:
Additional Information Contact:
FROM Fund/Account/Centers
Fernando Costa (6122)
Randle Harwood /0101\
Bryan Beck (7909)
LuXnumo:0bWAL88 RANCH I-30INTERCHANGE Page 2of2