| | | | | | | | Meeting Date:
| 7/7/2020
| Staff Contact:
| Rick Trice, P.E.
Director of Public Works
| Agenda Items:
| (4)(c)
| E-mail:
| rtrice@saginawtx.org
| | | | Phone: | (817) 230-0449 |
|
| | | | | | | |
SUBJECT:
Consideration and Action Regarding Amendment to Funding Interlocal Agreement for Bailey Boswell Road Overpass with Tarrant County
BACKGROUND/DISCUSSION:
The Amendment to Funding Interlocal Agreement for Bailey Boswell Road Overpass with Tarrant County amends our existing agreement first approved in March, 2014. The agreement provides for cost sharing by the County for the Bailey Boswell Road Overpass (Overpass).
The agreement has been renewed several times with the latest, including an amendment occurring in January, 2019. The 2019 amendment allowed a reimbursement by the County of up to $5,500,000 in eligible construction costs.
The agreement has been amended so that Tarrant County will now reimburse the City up to $6,500,000 in eligible construction cost and inspection costs including the City’s inspection consultant, BNSF, Union Pacific, and the Texas Department of Transportation (TxDOT). Reimbursement will be made on a 50-50 basis.
The County’s proposed payment schedule, subject to change, is as follows:
|
|
1st Quarter
|
2nd Quarter
|
3rd Quarter
|
4th Quarter
|
|
2019
|
$
|
$
|
$
|
$
|
|
2020
|
$
|
$
|
$1,000,000
|
$1,000,000
|
|
2021
|
$1,000,000
|
$1,000,000
|
$1,000,000
|
$500,000
|
|
2022
|
$500,000
|
$500,000
|
$
|
$
|
|
2023
|
$
|
$
|
$
|
$
|
The agreement has an expiration date of September 30, 2022.
FINANCIAL IMPACT:
The financial impact will be the reimbursement of up to $6,500,000 for the Bailey-Boswell Overpass project until September 30, 2022 unless the expiration is extended by amendment.
RECOMMENDATION:
Staff recommends approval of the Amendment to Funding Interlocal Agreement for Bailey Boswell Road Overpass with Tarrant County. |
|