Title
Consider a resolution authorizing the Mayor to execute an Interlocal Agreement with Williamson County regarding the funding for the construction of the University Boulevard Improvement - A.W. Grimes to SH 130.
Body
This City Council request is for approval of an Interlocal Agreement between Williamson County and the City of Round Rock, Texas regarding the funding for the construction of the University Blvd Improvement Project. This project involves rehabilitation of the two existing lanes and construction of two additional lanes with associated medians and turn lanes to support a four-lane divided facility. This project is listed in the City's Transportation Master Plan and the Williamson County Long-Range Transportation Plan.
This interlocal agreement further outlines monetary responsibilities based on the original agreement between the entities. The current overall project development and construction cost is $14,200,000. CAMPO funds were pursued and awarded for $6,300,000, CAMPO funding allows for a 20% overrun contingency which could total $7,560,000 in CAMPO funds. Williamson County and the City of Round Rock are sharing in the development and construction cost for the remainder at $3,300,000 each. The Interlocal Agreement will reflects a 25% contingency above that number of $4,200,000 each.
Cost: $4,200,000.00
Source of Funds: RR Transportation and Economic Development Corporation (Type B)