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| COUNCIL ACTION: Approved on 12/13/2016 - Ordinance No. 22538-12-2016 & 22539-12-2016 |
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| DATE: |
12/13/2016 |
REFERENCE NO.: |
**C-28029 |
LOG NAME: |
06PARK VISTA - ILA AND CFA WITH CITY PARTICIPATION |
| CODE: |
C |
TYPE: |
CONSENT |
PUBLIC HEARING: |
NO |
| SUBJECT: |
Authorize Execution of an Interlocal Agreement with the City of Keller in the Amount of $163,700.00, Authorize Execution of a Community Facilities Agreement with Wal-Mart Real Estate Business Trust in the Amount of $16,112,388.00 for the Construction of Park Vista Boulevard from Keller Hicks Road to Ray White Road, with City Participation in the Amount of $294,600.00 for Increasing the Height of the Park Vista Boulevard Bridge and the Installation of a 48-Inch Casing for a Water Line to Serve the City of Keller and Adopt Appropriation Ordinances (COUNCIL DISTRICT 7) |
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| RECOMMENDATION: |
It is recommended that the City Council:
1. Authorize execution of an Interlocal Agreement with the City of Keller to accept $163,700.00 for a 48-Inch water line casing for a future water line to serve the City of Keller;
2. Adopt the attached appropriation ordinance increasing estimated receipts and appropriations in the Park Vista Boulevard Project of the Intergovernmental Contribution Fund in the amount of $163,700.00;
3. Adopt the attached appropriation ordinance increasing estimated receipts and appropriations in the Park Vista Boulevard Project of the Transportation Impact Fee Legacy Fund in the amount of $130,900.00 and reduce the fund balance in the Unspecified Center of Service Area D by the same amount; and
4. Authorize the execution of a Community Facilities Agreement with Wal-Mart Real Estate Business Trust in the amount of $16,112,388.00 for the construction of Park Vista Boulevard from Keller Hicks Road to Ray White Road, with City participation in the amount of $294,600.00 for increasing the height of the Park Vista Road bridge and installations of a 48-inch water casing. |
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| DISCUSSION: |
Wal-Mart Real Estate Business Trust is executing a Community Facilities Agreement (CFA) to construct Park Vista Road from Keller Hicks Road to Ray White Road for its commercial development in north Fort Worth. The project includes a bridge over Big Bear Creek to the south of Golden Triangle Boulevard. The City is cost participating in the construction costs to increase the height of the bridge to provide adequate clearance under the bridge for future park trails.
Additionally, the City of Keller will be executing an Interlocal Agreement with the City of Fort Worth to have 330 linear feet of a 48-inch water main casing included in this project to serve future development in Keller. The City's cost participation for the bridge and the installation of the water main casing is estimated to be $294,600.00, as shown on the table below. Item | Developer Cost | City Cost | Total Cost | Water Construction | $ 1,171,759.00 | $157,404.00 | $ 1,329,163.00 | Roadway Construction | $13,765,382.00 | $130,900.00 | $13,896,282.00 | Material Testing and Inspection Fees | $ 880,647.00 | $ 6,296.00 | $ 886,943.00 | Total Project Cost | $15,817,788.00 | $294,600.00 | $16,112,388.00 |
The reimbursement of the participation, excluding inspection and material testing fees, is not a lump-sum amount and may be less than the stated amount depending upon the actual quantities and unit prices from the Notice of Final Completion Package, commonly referred to as the Green Sheet Package. This development is located COUNCIL DISTRICT 7. |
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| FISCAL INFORMATION/CERTIFICATION: |
The Director of Finance certifies that upon approval of the above recommendations, funds will be available in the current capital budgets, as appropriated, of the Intergovernmental Contribution Fund and the Transportation Impact Fee Legacy Fund. |
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| Submitted for City Manager's Office by: |
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