Authorize Execution of Amendment No. 1 to City Secretary Contract No. 48582, a Community Facilities Agreement with Bailey Boswell Marketplace LP, in the Amount of $968,393.60 Which Includes Additional City Participation in an Amount Not to Exceed $554,813.51, to Construct West Bailey Boswell Road from Wind River Drive to Old Decatur Road, and Adopt Appropriation Ordinance (Transportation Impact Fee Funds) (COUNCIL DISTRICT 7)

It is recommended that the City Council:

1.  Adopt the attached appropriation ordinance increasing estimated receipts and appropriations in the Transportation Impact Fee Fund in the amount of $650,000.00 from available funds; and

2.  Authorize the execution of Amendment No. 1 to City Secretary Contract No. 48582, a Community Facilities Agreement with Bailey Boswell Marketplace LP, in the amount of $968,393.60 which includes additional City participation in an amount not to exceed $554,813.51 to construct West Bailey Boswell Road from Wind River Drive to Old Decatur Road.      

On September 29, 2015, the City Council authorized the execution of a Community Facilities Agreement (CFA) with Bailey Boswell Marketplace LP, with City participation in an amount of up to $1,342,556.38 for the oversizing of West Bailey Boswell Road (M&C C-27494).  The amount of the City's participation was based on the engineer's estimate of construction costs, including a 10 percent contingency.  The project was publicly bid and the final bid amount was $968,393.60 over the engineer's estimate.  Amendment No. 1  to the CFA will increase the total CFA amount and City participation to reflect the actual bid amount.  This amendment provides for additional City participation up to $554,813.51, of which $484,196.80 is for construction costs and $70,616.71 is for engineering services.  The Developer is providing the initial funding for the construction and the City is reimbursing its share of the construction costs through periodic draws.