The 2007 Bond program allocated a total of $4,149,375 to the City of Wylie’s project #07-091, McMillen Drive from McCreary Road to FM 1378.
On October 20, 2014, Court Order #2014-810-10-20, Commissioners Court approved an additional funding amount of $1,676,775 that would come from the 2007 Discretionary account.
The Collin County Commissioners Court just approved another $2,999,999 from the 2018 Bond program for this project. A summary of the total funding is below:
2007 bond allocation: $4,149,375
2007 discretionary: $1,676,775
2018 bond (2022 call): $2,999,999
TOTAL funding from both bond programs is $4,149,375 + $1,676,775+ 2,999,999 = $8,826,149
To date we have encumbered the following funds on existing ILAs in the amount of $3,426,775
Therefore a total of $8,826,149-$3,426,775 = $5,399,374 is left to be encumbered on this ILA. A budget adjustment will need to be done to move the remaining unencumbered 2007 Bond funds into a combined 2007/2018 account created for the McMillen Rd. project.
The city is tentatively scheduled to bid the project in mid-August 2023 with an anticipated construction start date in mid-October 2023. Construction should take 1.5-2 years.
Action:
Request approval of the Interlocal Agreement with the City of Wylie concerning 2018 Bond Project, McMillen Dr. from McCreary Road to Country Club Road; RI18028 (Not to exceed $5,399,374; ILA using a combo of ’07 and ’18 funds) and to move $2,399,375 from
RI07091-4214-750300013-809280 to RI0718028-4214-750300013-809280.
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| Budgeted funds available in the amount of $5,399,374 for an Interlocal Agreement between Collin County and the City of Wylie for the 2018 Bond Project RI18028, McMillen Drive from McCreary Road to Country Club Road to FM 1378. Budget Adjustment included in the amount of $2,399,375. 2007 & 2018 Bond Funds. |