title
Approval of Amendment #1 to an Interlocal Cooperation Agreement with Denton County Texas Related to Funding of Design, Right of Way and Construction for Corporate Drive, From Waters Ridge Drive to East of the Elm Fork Trinity River Bridge, Segments 1 Through 3; and Authorization for the Mayor to Execute the Agreement.
request
ADMINISTRATIVE COMMENTS:
The Corporate Drive project, segments 1-3 includes design, right of way and construction of a 4-lane divided thoroughfare from Waters Ridge Drive to the east side of the Trinity River Bridge. The original cost estimate for these segments in 2010 was $14,585,345. In December 2010 the City of Lewisville entered into an interlocal funding agreement with Denton County providing for Denton County to participate by 10% of the cost of the project totaling $1,458,534. Segment 1 was completed in 2012. The current cost to construct Segments 2 and 3 is $43,039,500. The subject amendment amends the 2010 agreement for Segments 1-3 adding $6,000,000 specifically for use on Segments 2 and 3 to the original County funding for a total of $7,458,534. The original agreement along with the proposed amendment defines Denton County and City of Lewisville responsibilities regarding design, construction and funding of the Corporate Drive, Segment 1-3 project.
RECOMMENDATION:
That the City Council approve the agreement amendment and authorize the Mayor to execute the agreement as set forth in the caption above.