BACKGROUND/DISCUSSION:
Fuel City Saginaw, LLC has led an effort to secure authorization for a Texas Department of Transportation (TXDOT) project to improve the intersection of FM 156 (Blue Mound Road) and Industrial Avenue. The project was funded through the North Central Texas Council of Governments COVID-19 Infrastructure Project. The City of Saginaw is taking the lead as the Local Sponsor.
The proposed Interlocal Agreement (ILA) with Tarrant County will provide for County participation in the construction of the project in the amount of $109,000. The funds will be available on a reimbursable schedule shown below. Upon execution of an Advance Funding Agreement (AFA) with the Texas Department of Transportation, the City will be required to make payment for the City's share of the project estimated at $301,000. An executed copy of the AFA and a copy of the City's payment will be required to obtain reimbursement.
Reimbursement Schedule (Subject to Change)
1st Quarter 2nd Quarter 3rd Quarter 4th Quarter
2021
2022 $25,000
2023 $36,000 $36,000 $12,000
2024
FINANCIAL IMPACT:
N/A
RECOMMENDATION:
Staff recommends the City Council authorize the ILA with Tarrant County for the FM 156 at Industrial Intersection Project.