STRATEGIC PRIORITY: Transportation & Infrastructure
AGENDA DATE: November 8, 2023
COUNCIL DISTRICT(S): 14
DEPARTMENT: Department of Transportation
EXECUTIVE: Dr. Robert Perez
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SUBJECT
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Authorize (1) an agreement with HANIMPN Turtle Creek One TX, LLC and TC P2 Owner, LLC for contribution of funds towards the warranted traffic signal installation at the intersection of Turtle Creek Boulevard and Fairmount Street in the City of Dallas; (2) the establishment of appropriations in an amount not to exceed $137,500.00 in the Transportation Special Projects Fund; and (3) the receipt and deposit of funds in an amount not to exceed $137,500.00 in the Transportation Special Projects Fund - Not to exceed $137,500.00 - Financing: Transportation Special Projects Fund (see Fiscal Information for potential future costs)
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BACKGROUND
HANIMPN Turtle Creek One TX, LLC (Phase 1 Developer) desires the development or redevelopment of the property located at 2525 Turtle Creek Boulevard, Dallas, Texas 75219 for a multi-family apartment project. TC P2 Owner, LLC (Phase 2 Developer) desires the development of the property located at 2555 Turtle Creek Boulevard, Dallas, Texas 75219 for a multi-family apartment project. The development projects contribute to the need for municipal infrastructure additions or improvements, namely a warranted traffic signal at the intersection of Turtle Creek Boulevard and Fairmount Street.
The City of Dallas, pursuant to Chapter 51A-1.109 of the Dallas City Code, determines the city infrastructure has an estimated total cost of $550,000.00 and made an apportionment determination in accordance thereof as to the Developers’ and City’s cost participation. The impact created by the development projects require the installation of city infrastructure requiring the Developers to provide proportionate share of the costs for the installation of city infrastructure.
Phase 1 Developer agrees to provide its proportionate share in the amount of $68,750.00, and Phase 2 Developer agrees to provide its proportionate share in the amount of $68,750.00 towards the city infrastructure to address the municipal infrastructure needs created by their planned development projects as determined by Section 51A-1.109 of the Dallas City Code, for a total contribution of $137,500.00.
This item will authorize the receipt and disbursement of funds towards the warranted traffic signal installation.
PRIOR ACTION/REVIEW (COUNCIL, BOARDS, COMMISSIONS)
This item has no prior action.
FISCAL INFORMATION
|
Fund |
FY 2024 |
FY 2025 |
Future Years |
|
Transportation Special Projects Fund |
$137,500.00 |
$0.00 |
$0.00 |
Note: The total project estimated cost is $550,000.00. A majority of funding will come from developer contributions, and any remaining cost will be paid for by the City.
MAP
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