STRATEGIC PRIORITY: Quality of Life
AGENDA DATE: June 23, 2021
COUNCIL DISTRICT(S): 14
DEPARTMENT: Park & Recreation Department
EXECUTIVE: John D. Jenkins
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SUBJECT
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Authorize (1) an Interlocal Agreement between the Regional Transportation Council (RTC), the North Central Texas Council of Governments (NCTCOG), and the City of Dallas (City), and joined and consented to by the Woodall Rodgers Park Foundation (WRPF) to secure $30,000,000.00 in federal Surface Transportation Block Grant (STBG) Funds for the expansion of Klyde Warren Park, known as "Klyde Warren Park Phase 2" (KWP2), and available for the construction of KWP2 by a separate Advance Funding Agreement between the City and the Texas Department of Transportation (TxDOT); (2) an increase in appropriations in the amount of $10,000,000.00 in the Woodall Rodgers Development Fund; (3) the receipt and deposit in the amount of $10,000,000.00 from WRPF in the Woodall Rodgers Development Fund; (4) the repayment of $10,000,000.00 of STBG Funds by the City to NCTCOG after completion of the project; and (5) execution of the Interlocal Agreement including all terms, conditions, and documents required by the agreement - Not to exceed $10,000,000.00 - Financing: Woodall Rodgers Development Fund
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BACKGROUND
On December 18, 2018, the RTC authorized a total of $30,000,000.00 in federal STBG Funds for the City and TxDOT to assist with the funding of the KWP2 Project of which $10,000,000.00 must be repaid by sources determined by the City to NCTCOG, as RTC's fiscal agent.
On February 25, 2020, the City executed Supplemental Agreement No. 3 with WRPF to facilitate park expansion and to provide for roles and responsibilities, design of the KWP2 Project, and funding sources. The amendment to the agreement stipulated that WRPF would repay the $10,000,000.00 repayment obligation, plus any interest accrued, from the following sources: approximately $...
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