HomeMy WebLinkAbout(0037) M&C 20-0589City of Fort Worth,
Mayor and
DATE: 08/25/20
Texas
Council Communication
M&C FILE NUMBER: M&C 20-0589
LOG NAME: 20GOLDEN TRIANGLE HARMON ROAD DEVELOPER APPROPRIATIONS
SUBJECT
(CD 7) Adopt Appropriation Ordinance in the Amount of $353,801.00 within the Developer Contribution Fund for the Golden Triangle
Harmon Road Widening and Intersection Improvements Project (2018 Bond Program)
RECOMMENDATION:
It is recommended that the City Council adopt the attached appropriation ordinance increasing the receipts and appropriations within the
Developer Contribution fund in the amount of $353,801.00 for the Golden Triangle Road Widening and Intersection Improvement project. (City
Project No. 101013)
DISCUSSION:
The purpose of this Mayor and Council Communication (M&C) is to adopt the attached appropriation ordinance to allocate funding to the
expanded Golden Triangle Road Widening and Intersection Improvements Project from Misty Redwood Trail to Interstate Highway 35 (City Project
No. 101013). On March 17, 2020, the City executed a Future Improvements Agreement (FIA) for infrastructure improvements with FW 1-35
Logistics Center LLC (Developer) in which the Developer contributed $353,801.00 toward the cost of the future improvements of Golden Triangle
Boulevard.
Golden Triangle Boulevard from Misty Redwood Trail to Interstate Highway 35 is approximately 4,700 linear feet in length and identified in the
City's Master Thoroughfare Plan as a six -lane divided commercial connector with sidewalks. Preliminary cost estimate for the expanded Golden
Triangle Road Widening and Intersection Improvement project is $7,700,000.00. The Developer has provided the City with the additional right-of-
way (ROW) for the intersection improvements. Currently, $7,570,000.00 is available for design and construction of this roadway. This M&C will
appropriate these FIA funds into the project budget and bridge the funding gap.
This project is included in the 2018 Bond Program. Available resources within the General Fund will be used to provide interim financing until debt
is issued. Once debt associated with the project is sold, bond proceeds will reimburse the General Fund in accordance with the statement
expressing official Intent to Reimburse that was adopted as part of the ordinance canvassing the bond election (Ordinance No. 23209-05-2018)
and subsequent actions taken by the Mayor and Council.
The following table demonstrates the funding history for the project:
Fund
Existing
Developer
Project Total
Appropriations
Appropriations
34017 - Tax Note
$200,000.00
$0.00
$200,000.00
34018 - 2018 Bond
$2,870,000.00
$0.00
$2,870,000.00
Program
39008 - Transportation
Impact Fee Capital Legacy
$1,526,032.51
$0.00
$1,526,032.51
Fund
30108 - Transportation
$2 973,967.49
$0.00
$2,973,967.49
Impact Fee Capital Fund
30104 - Developer
$0.00
$353,801.00
$353,801.00
Contributions
Project Total
$7,570,000.00
$353,801.00
$7,923,801.00
The Golden Triangle Intersection Improvements Project is in COUNCIL DISTRICT 7.
A Form 1295 is not required because: This M&C does not request approval of a contract with a business entity.
FISCAL INFORMATION / CERTIFICATION:
The Director of Finance certifies that upon approval of the above recommendations and adoption of the attached appropriation ordinance, funds
will be available in the Developer Contribution fund for the Golden Triangle (135-Harmon Rd) project to support the approval of the above
recommendation and award of the agreement. Prior to an expenditure being incurred, the Transportation & Public Works Department has the
responsibility of verifying the availability of funds.
Submitted for City Manager's Office by. Dana Burghdoff 8018
Originating Business Unit Head: William Johnson 7801
Additional Information Contact: Monte Hall 8662