title
Approval of an Interlocal Cooperation Agreement with Denton County Texas Related to Funding of Design, Right-of-Way, and Construction for McKenzie-Hembry Neighborhood Rehabilitation Phase 2; and Authorization for the Mayor to Execute the Agreement.
request
ADMINISTRATIVE COMMENTS:
The McKenzie-Hembry Phase 2 neighborhood rehabilitation project includes reconstruction of select streets, utilities, and drainage in the Mckenzie-Hembry Neighborhood. The design will include sidewalks and concrete streets. Funding for design and construction of the McKenzie-Hembry Phase 2 neighborhood rehabilitation project totaling $5,200,000 was included in the Denton County TRIP-22 bond program to cover roughly 70% of the project cost. The City included $2,067,180 in the City’s 2024 Bond Program to cover the City’s portion of the project funding. To date, Denton County has sold $1,000,000 in debt for the project with the remaining debt being sold in a future bond sale. The City sold $2,067,180 in debt for the subject project in 2024. The available funding is sufficient to perform design and begin the right-of-way acquisition for the McKenzie-Hembry Phase 2 project. The subject agreement defines Denton County and City of Lewisville responsibilities regarding design, construction, and funding of the McKenzie-Hembry Phase 2 neighborhood rehabilitation project.
RECOMMENDATION:
That the City Council approve the agreement as set forth in the caption above and authorize the Mayor to execute the agreement.