The 2014 Bond Program includes funding for roadway capacity improvements along North Riverside Drive from North Tarrant Parkway to Old Denton Road. This project includes widening the roadway from two lanes to four lanes, left and right turn lanes, roundabouts at Summerfields Boulevard and Thompson Road, storm drainage improvements, shared use paths, streetlights and traffic signal modifications at North Tarrant Parkway.
On February 9, 2016, the City administratively authorized an Interlocal Cooperation Agreement with Keller Independent School District (KISD) for the design of proposed Thompson Road at North Riverside Drive in the amount of $15,000.00. Under this amendment, KISD will provide an additional $390,776.00 for the construction of the intersection of Thompson Road with North Riverside Drive by the City and the Northbound Interstate Highway 35W Frontage Road deceleration lane to Thompson Road by the Texas Department of Transportation.
The Advanced Funding Agreement with the Texas Department of Transportation (TxDOT) will provide for the State to construct the deceleration lane on the northbound frontage road of Interstate Highway 35W at Thompson Road.
Construction of the Thompson Road intersection at North Riverside Drive has components of the overall project that include design, construction, project management, easements and right-of-way acquisition, construction administration, material testing, inspection and contingencies. The City project budget for the full improvements described above is $13,365,776.00. Additionally, construction of the northbound frontage road of Interstate Highway 35W is a component of a KISD development project involving a Community Facilities Agreement with the City of Fort Worth. A portion of this project will include 2014 Bond Funds. Available resources within the General Fund will be used to provide interim financing for these expenses until debt is issued. Once debt associated with this 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. 21241--05-2014) and the subsequent ordinance authorizing debt in 2016 (Ordinance No. 22216-05-2016).
Construction of North Riverside Drive is anticipated to begin in Spring 2017 and end in Spring 2019. The Project is located in COUNCIL DISTRICT 4, Mapsco 35G. This contract will be with a governmental entity, state agency or public institution of higher education: Keller Independent School District and the Texas Department of Transportation. |