Posting Language
Title
Approve an ordinance amending the Fiscal Year 2024-2025 Transportation and Public Works Department Capital Budget (Ordinance No. 20240814-007) to increase appropriations by $244,000,000 for City costs related to the I-35 Cap and Stitch Program. Funding: $244,000,000 will be available from future issuance of tax-exempt general obligation bonds. Related to Items #41 and #42.
De
Lead Department
Transportation and Public Works Department
Fiscal Note
Funding in the amount of $244,000,000 will be available from the future issuance of tax-exempt general obligation bonds
Prior Council Action:
December 12, 2024 - Resolution No. 20241212-011 authorizing the negotiation and execution of a State Infrastructure Bank loan agreement, for one or more loans, in an amount not to exceed $41,000,000 to fund the City's costs related to the I-35 Cap and Stitch program and all other required documentation to effectuate the City's intent to borrow such funds was approved on consent on a 11-0 vote.
March 21, 2024 - Resolution No. 20240321-067 authorizing the City Manager to apply for financial assistance from the State Infrastructure Bank for the I-35 Cap and Stitch Program in an amount not to exceed $191,000,000 was approved on consent on a 11-0 vote.
December 14, 2023 - Resolution No. 20231214-060 authorizing negotiation and execution of an advance funding agreement with the Texas Department of Transportation for engineering and design study for cap and stitch improvements on the IH-35 Capital Express project for a total estimated cost of $1,818,334 with the City's share of the costs estimated to be $166,667 plus any cost overrun was approved on consent on a 10-0 vote with Council Member Ryan Alter absent.
December 14, 2023 - Resolution No. 20231214-061 authorizing negotiation and execution of an advance funding agreement with the Texas Department of Transportation for the City to contribute $15,445,000, for 30% of the design and other associated cos...
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