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Home My WebLink AboutWS Item 01 - Capital Projects Funding MEMO TO: HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL FROM: BRUNO RUMBELOW, CITY MANAGER F2, MEETING DATE: APRIL 18, 2006 SUBJECT: WORKSHOP — CAPITAL PROJECTS FUNDING City Staff will present Proposed Capital Projects and their funding to the City Council. The Proposed Capital Projects are: • Glade Road Widening — Reconstruction of Glade Road between Champaign Blvd and SH 360. Four lane divided roadway with underground storm drainage, sidewalks, median landscaping, lighting and traffic signals at Baze Road and at Euless Grapevine Road. • Euless Grapevine Road / Stone Myers Parkway Widening — Reconstruction of Euless Grapevine Road from SH 360 to Westport Parkway. Four lane undivided roadway with underground storm drainage and widening of the bridge over Big Bear Creek. Also includes extension of Stone Myers Parkway from Prospect Parkway to Mustang Drive across DFW Airport property as a four lane undivided roadway with underground storm drainage. • Bass Pro Drive East Widening — Reconstruction of Bass Pro Drive from SH 121 east to the Coppell City Limits. Four lane divided roadway with underground storm drainage, sidewalks on the north side and a new bridge over Cottonwood Branch. • Main Street Sustainable Development — Enhancement of the Main Street corridor from College Street to Nash Street to provide a more pedestrian friendly atmosphere. Includes additional street lights, trees, benches, widened sidewalks, better designated crossings at Dallas Road, and enhancements around the Fairfield Mixed Use Development in the SE corner of Dallas Road and Main Street. • BS 114 L / Texan Trail Landscaping — Landscaping of the medians being constructed with the TxDOT project to widen BS 114 L from a two lane roadway to a six lane divided roadway with underground storm drainage. Extends from SH 114 to NW Highway. • Bass Pro Drive West Widening — Addition of one lane eastbound and westbound between SH 121 and SH 26 to address the heavy traffic load experienced in the am and pm peaks. • SH 26 Widening — Reconstruction of SH 26 between Pool Road and SH 114. Six lane divided roadway section with underground storm drainage and sidewalks on the south side. A total of $ 5,579,006.19 in GO Bonds and Periphery Street Fees are currently allocated to the listed projects. An additional $ 2,752,479.35 is available for use for the projects and reflected in the attached sheet. In combination, these two figures yield $ 8,331,485.54 in funds available to fund the projects. The unsold bond authorization from the 1998 GO bond election is $ 5,247,686.20. Sale of the total authorized amount will enable the City to construct the listed projects, receiving the benefit of$ 46,846,367.54 in roadway improvements for an expenditure of $ 13,467,909.01 in City funds. Mr. Jerry Hodge will be present to review the funding for these projects. 2006 CAPITAL PROJECTS 4/18/2006 FUNDING BUDGET CITY OF CITY OF NCTCOG TARRANT TxDOT TOTAL DESIGN ROW CONSTRUCTION TESTING& CONTINGENCY TOTAL GRAPEVINE EULESS COUNTY MISCELLANEOUS PROJECT GLADE ROAD $3,725,997.68 $2,753,458.53 $6,479,456.21 $580,000.00 $213,250.00 $5,228,709.56 $86,209.00 $371,287.65 $6,479,456.21 EULESS GRAPEVINE ROAD $3,895,605.69 $3,200,000.00 $7,095,605.69 $720,000.00 $0.00 $5,644,371.00 $121,443.00 $609,791.69 $7,095,605.69 BASS PRO DRIVE EAST $2,198,372.56 $2,198,372.56 $158,591.00 $14,985.00 $1,624,000.00 $50,000.00 $350,796.56 $2,198,372.56 MAIN STREET SUSTAINABLE DEV $275,733.08 $800,000.00 $1,075,733.08 $60,000.00 $20,550.00 $869,041.41 $13,385.83 $112,755.84 $1,075,733.08 BS 114 L LANDSCAPING $247,200.00 $247,200.00 $47,200.00 $0.00 $200,000.00 $0.00 $0.00 $247,200.00 BASS PRO DRIVE WEST $1,125,000.00 1 $1,125,000.00 $2,250,000.00 $260,000.00 $550,000.00 $1,200,000.00 $25,000.00 $215,000.00 $2,250,000.00 SH 26 WIDENING $2,000,000.00 $4,000,000.00 $6,400,000.00 $15,100,000.00 $27,500,000.00 $1,600,000.00 $10,000,000.00 $15,900,000.00 $0.00 $0.00 $27,500,000.00 TOTAL FUNDING NEEDS $13,467,909.01 $2,753,458.53 $8,000,000.00 $7,525,000.00 $15,100,000.00 $46,846,367.54 $46,846,367.54 FUNDS ALLOCATIONS &PROJECT BALANCES GO BONDS-EXISTING ALLOC GLADE ROAD ALLOCATIONS $868,250.00 Sold for Glade Rd Design and ROW EULESS GPV ALLOCATIONS $2,162,164.97 Allocated from Other Projects Savings BASS PRO E ALLOCATIONS $2,062,685.03 Allocated from Other Projects Savings BS 114 L ALLOCATIONS $47,200.00 Sold for BS 114 L Landscape Design PERIPHERY STREET FEES $438,706.19 Fees received for the listed projects SUB-TOTAL ALLOCATIONS $5,579,006.19 CBS 114 L BALANCE $500,000.00 Balance after Design and ROW Acqusition Completed MAIN STREET CO'S $608,907.43 Balance after Improvements to Main Street and Barton Street PARKING GARAGE CO'S $160,938.63 Balance after Preliminary Planning DENTON COUNTY SIB REFUND $750,000.00 City's Commitment to SH 121 Funding Participation Refund After Project Fully Funded MINTERS CHAPEL DEV FUNDS $732,633.29 Reimbursement to City by Private Developer for Cost Share SUB-TOTAL UNCOMMITTED $2,752,479.35 TOTAL FUNDS AVAILABLE $8,331,485.54 SHORT FALL -$5,136,423.47 2006 GO BOND SALE $5,247,686.20 GO FUND BALANCE 1 $111,262.73 'Glade Road-City of Euless Cost for Construction Only. 1/2 of Roadway Cost plus Water Line Construction in Euless. 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