Title
Consider a resolution authorizing the Mayor to execute an Escrow Agreement with Meridian World School, LLC.
Body
Recently, the owner of the Meridian School approached the city about improving the safety and traffic flow into their property off of N. Mays Street. Subsequently, an agreement was developed between the City Round Rock and Meridian World School, LLC to allow for design and construction of public infrastructure improvements. Meridian School has agreed to dedicate the right-of-way (ROW) required for a turn lane and a pro rata share of the improvements of $150,000.
The City desires to construct public roadway improvements at the intersection of North Mays and the Meridian School driveway. The City hereby contractually stipulates and agrees to ensure the completion of the construction and installation of certain Public Expansions attributable to the Campus Renovations, the completion of design and environmental studies required for the addition of public infrastructure improvments along Mays Street adjacent to the School in accordance with the TIS on or before November 1, 2018.
Recommended Action
Staff recommends approval.