STRATEGIC PRIORITY: Transportation & Infrastructure
AGENDA DATE: September 11, 2024
COUNCIL DISTRICT(S): 8
DEPARTMENT: Department of Transportation
EXECUTIVE: Dev Rastogi
______________________________________________________________________
SUBJECT
Title
Authorize (1) an Agreement with ATC Investments, LLC, for contribution of funds towards the warranted traffic signal installation at the intersection of Bonnie View Road and Langdon Road in the City of Dallas; (2) the establishment of appropriations in an amount not to exceed $75,000.00 in the Transportation Special Projects Fund; (3) the receipt and deposit of funds in an amount not to exceed $75,000.00 in the Transportation Special Projects Fund; and (4) the disbursement of funds in the amount of $75,000.00 from the Transportation Special Projects Fund - Not to exceed $75,000.00 - Financing: Transportation Special Projects Fund (see Fiscal Information)
Body
BACKGROUND
ATC Investments, LLC (Developer) desires the development or redevelopment of property located at 4500 Langdon Road in the City of Dallas, Dallas County, Texas. The Development Project contributes to the need for municipal infrastructure additions or improvements, namely a warranted traffic signal at the intersection of Bonnie View Road and Langdon Road.
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 Seven Hundred and Fifty Thousand and No/100 Dollars ($750,000.00) and made an apportionment determination in accordance thereof as to the Developer and City’s cost participation. The impact created by the Development Project requires the installation of city infrastructure requiring the Developer to provide proportionate share of the costs for the installation of city infrastructure. The Developer agrees to provide its proportionate share towards the city infrastructure to address the municipal infrastructure needs created by their planned Development Project as determined by Section 51A-1.109 of the Dallas City Code, in the amount of $75,000.00.
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 2024 |
Future Years |
|
Transportation Special Projects Fund |
$75,000.00 |
$0.00 |
$0.00 |
Note: The total project estimated cost is $750,000.00. Remaining funding is coming from other developers and the Department of Transportation infrastructure budget.
MAP
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