HomeMy WebLinkAbout09-26-13-2j - Resolution - 09/26/2013 RESOLUTION NO. N -2(p' 1 3 - 2 J
A RESOLUTION OF THE CITY COUNCIL OF CITY OF COLLEGE STATION,
TEXAS APPROVING THE ADVANCED FUNDING AGREEMENT (AFA) WITH
WOODRIDGE COLLEGE STATION I, LLC THE DEVELOPER OF NORTHPOINT
CROSSING (THE PLAZA) AND AUTHORIZING THE CITY MANAGER TO
EXECUTE THE AFA.
WHEREAS, Developer is developing property within the City of College Station, more
particularly described as Northpoint Crossing Subdivision, Lots 1 and 2, Block One, College
Station, Brazos County, Texas (hereafter "Property"), and
WHEREAS, Developer is required to construct roadway improvements that are related
Developer's proposed development and reconstruct a portion of the existing traffic signal at the
adjacent intersection of Texas Avenue and University Drive, and
WHEREAS, Developer is required to pay for the construction of the roadway improvements and
pay for the professional design of the roadway portion of the public infrastructure affecting
Developer's development; and
WHEREAS, Developer is desirous of sharing in the cost of the signal work to be completed at
• the intersection by paying for the professional design of the signal portion of the public
infrastructure to be reconstructed and paying for one -third of the total construction costs of the
signal; and
WHEREAS, Developer and City agree that it is in the best interests of the public to jointly share
in the costs of constructing certain identified public infrastructure; and
WHEREAS, the City Engineer has reviewed the data, reports and analysis provided by
Developer's engineers, and determined that such public improvement qualifies for joint
participation.
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF COLLEGE STATION,
TEXAS:
PART 1: That the City Council hereby approves the AFA with Woodridge College Station
I, LLC, for the reconstruction of the traffic signal at University Drive and Texas
Avenue.
PART 2: That the City Council hereby authorizes the City Manager to execute the
Advanced Funding Agreement.
AFA with Woodridge I LLC
Reconstruction of Traffic Signal Page 2
University Dr at Texas Ave
Itimpr PART 3: That this resolution shall take effect immediately from and after its passage.
ADOPTED this 6,21, of SP ptLALLt4) , 2013.
ATTEST: APPROVED:
\Ind _ 6 Z4A,c.-7-- -- * * (7 ‘ e<il- 71 - 4 -3/
City Secr: Mayor
APPROVED:
leotAe..2
City Attorney
Coe
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Exhibit A
Description of the Property
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City Advance Funding Page 6
and Participation Agreement
Exhibit B
Description of the Project
This project removes and replaces an existing traffic signal system at the intersection of Texas
Avenue and University Drive. The installation of the new traffic signal will be as shown in the
graphic below. Construction plans have been signed and sealed by a licensed engineer and
construction will be done in accordance with the design documents, the Bryan - College Station
Design Guidelines, and the Texas Manual on Uniform Traffic Control Devices.
City Advance Funding Page 7
and Participation Agreement
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City Advance Funding Page 8
and Participation Agreement
Exhibit C
Engineer's Estimate of the Cost of Project
Project Estimate City's Participation Developer's Participation
Signal Construction $372,810 $249,150 (67 %) $123,660 (33 %)
City Advance Funding Page 9
and Participation Agreement