Title
Consider a resolution approving the action of the Round Rock Transportation and Economic Development Corporation in amending the Transportation Capital Improvement Program (TCIP).
Body
This amendment to the Transportation Capital Improvement Program (TCIP) includes a number of budget increases, reductions and adjustments. The primary objective of this amendment is to adjust funding for a number of projects reflecting the recent issuance of the Certificates of Obligation for transportation projects, and to provide financing to projects which were reduced in the last amendment to fund the Creek Bend project. Some of the items included in the amendment are the following:
1) Reduce the budget on a number of projects. These projects will now be funded through the recently issues Certificates of Obligation. Notable reductions include:
a) Reduce funds for the Creek Bend Boulevard project by - $8,841,303;
b) Reduce funds for the Seton Parkway Phase 2 project by -$1,525,000; and
c) Reduce funds for the Southwest Downtown Phase 5 project by - $12,443,295.
2) Increase the budgets for a number of projects. Increases are proposed for the following projects:
a) Increase the budget for Traffic Signals by $750,000;
b) Increase the budget for the Arterial Improvement Program (bottlenecks) by $1,050,430;
c) Increase the budget for the Downtown Improvements project by $350,000;
d) Increase the budget for the Gattis School Road project by $3,024,195; and
e) Increase the budget for Kenney Fort Boulevard Segment 4 project by $250,680.
This amendment to the TCIP budget results in a net reduction of $17,136,629.
Recommended Action
Staff recommends approval.