TITLE
HOLD a public hearing and consider an ordinance amending the FY 2013-2014 Annual Budget and Plan of Municipal Services of the City of Killeen by increasing the Reimbursement Resolution Killeen-Fort Hood Regional Trail account by $14,555 for the Killeen-Fort Hood Regional Trail, Segment 3 project.
SUMMARY
AGENDA ITEM
ORDINANCE AMENDING THE FY 2013-2014 ANNUAL BUDGET AND PLAN OF MUNICIPAL SERVICES OF THE CITY OF KILLEEN BY INCREASING THE REIMBURSEMENT RESOLUTION KILLEEN-FORT HOOD REGIONAL TRAIL, SEGMENT 3 PROJECT BY $14,555 FOR THE KILLEEN-FORT HOOD REGIONAL TRAIL, SEGMENT 3 PROJECT
ORIGINATING DEPARTMENT
PUBLIC WORKS - TRANSPORTATION DIVISION
BACKGROUND INFORMATION
Segment 3 of the Regional Trail consists of 1.35 miles from Watercrest Road to West Elms Road along the South Nolan Creek residential section. By entering into an Advance Funding Agreement (AFA) with the Texas Department of Transportation (TxDOT), the City agrees to commit to the project's design, development, construction, maintenance and funding. The City further agrees to provide a local match. As part of the match, the AFA requires payment of the design review costs.
DISCUSSION/CONCLUSION
The proposed amendment would provide sufficient funds to cover the TxDOT AFA design review costs on the Killeen-Fort Hood Regional Trail Segment 3 project. Payment of the City's share of costs is a condition associated with utilizing $1,455,498 of Texas Enhancement Grant funds for this portion of the Killeen-Fort Hood Regional Trail Segment 3 project. The proposed design review costs in the AFA are estimated to be $14,555 for the applicable portion of the Killeen-Fort hood Regional Trail, Segment 3, project. These funds may be reimbursed from the proceeds of debt if issued at a later date.
FISCAL IMPACT
With the approval of this budget amendment, the General Fund Budget for FY 2013-2014 will be revised to reflect an increase in expenses of $14,555.
RECOMMENDATION
Staff recom...
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