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HomeMy WebLinkAboutCity Council Resolutions (R-25-5020)-03/04/2025RESOLUTION 25-5020 APPROVING AN ADVANCED FUNDING AGREEMENT WITH TEXAS DEPARTMENT OF TRANSPORTATION FOR GREEN RIBBON FUNDING FOR THE LANDSCAPING AS IDENTIFIED IN EXHIBIT "A" PROVIDING FOR LOCAL FUNDING FROM THE TAX INCREMENT FINANCING (TIF) DISTRICT FUND; AND AUTHORIZING THE CITY MANAGER TO EXECUTE THE AGREEMENT WHEREAS, the City Council finds it in the best interest of the City and its citizens to utilize public grant programs to maintain and enhance quality of the City's streets and public highways; and WHEREAS, the City of Colleyville, Texas ("City") submitted a request to the Texas Department of Transportation ("TxDOT") for state participation in the form of Green Ribbon funding to pay a portion of the costs for SH26 from North of John McCain to South of Longwood Drive; SH 121 from Gateway Drive to North of Glade Road; and FM 3029 from North of Lavaca Trail to South of West McDonwell School Road landscaping (the "Project") as attached stated in Exhibit "A"; and WHEREAS, the City Council hereby authorizes the City Manager, or his designee, to execute the Advanced Funding Agreement (the "Agreement") with TxDOT, providing for the state's participation in the Project through Green Ribbon grant funding, as more particularly described in the Agreement; and WHEREAS, the City will be responsible for cost overruns for the Project as set forth in the Agreement; and WHEREAS, upon final execution of the Agreement, the City Council authorizes the commitment of local matching funds, to the extent required, to be funded from available funding in the Tax Increment Financing (TIF) District Fund. NOW THEREFORE BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF COLLEYVILLE, TEXAS: Sec. 1 THAT the City Council authorizes an Advance Funding Agreement with TxDOT for the Green Ribbon funding for the Project, and authorizing the City Manager, or his designee, to execute all documents necessary to complete the transaction. Resolution R-25-5020 Page 2 of 2 Sec. 2 THAT the City's portion of the Project funding required under the Agreement shall come from the Tax Increment Financing (TIF) District Fund. The City will be responsible for project cost overruns. Sec. 3 THAT this Resolution shall become effective immediately upon passage. AND IT IS SO RESOLVED. APPROVED BY A VOTE OF 7 AYES, 0 NAYS ON THIS THE 4T" DAY OF MARCH 2025. Mayor Bobby Lindamood Aye Mark Alphonso, Place 2 Aye Mayor Pro Tern Brandi Elder Aye Ben Graves, Place 4 Aye Deputy Mayor Pro Tern Scotty Richardson Aye Tim Raine, Place 6 Aye Kimberly Holt Gunderson, Place 5 Aye ATTEST:� � Christine Loven, TRMC City Secretary CIWba �L,EY'VILLE � B000d Mayor EXHIBIT "A" PROJECT SCOPE FORADVANCED FUNDING AGREEMENT WITH TEXAS DEPARTMENT OF TRANSPORTATION FOR GREEN RIBBON FUNDING FOR LANDSCAPING Texas Department of Transportation ("TxDOT") for state participation in the form of Green Ribbon funding to pay a portion of the costs for SH26 from North of John McCain to South of Longwood Drive; SH121 from Gateway Drive to North of Glade Road; FM 3029 from North of Lavaca Trail to South of West McDonwell School Road.