AGENDA CAPTION:
Title
Consider approval of Resolution 2022-68R, approving a third change order amendment to the participation agreement with Lazy Oaks Ranch, LP (La Cima) providing for traffic signal and intersection improvements at Wonder World Drive and Centerpoint Road in the La Cima development with an additional cost participation amount by the City of $550,000.00; authorizing the City Manager or her designee to execute the appropriate documents relating to the change order on behalf of the City; and declaring an effective date.
Body
Meeting date: April 5, 2022
Department: Engineering & Capital Improvements
Amount & Source of Funding
Funds Required: $550,000.00
Account Number: 50036338.70200
Funds Available: $905,667.44
Account Name: Wonder World Pass Thru
Fiscal Note:
Prior Council Action: March 7, 2017 - Cost Participation Agreement, December 5, 2017 - 1st Amendment, March 18, 2020 - 2nd Amendment
City Council Strategic Initiative: [Please select from the dropdown menu below]
Community Safety
Choose an item.
Choose an item.
Comprehensive Plan Element (s): [Please select the Plan element(s) and Goal # from dropdown menu below]
☐ Economic Development - Choose an item.
☐ Environment & Resource Protection - Choose an item.
☐ Land Use - Choose an item.
☐ Neighborhoods & Housing - Protected Neighborhoods in order to maintain high quality of life and stable property values
☐ Parks, Public Spaces & Facilities - Choose an item.
☐ Transportation - Safe, Well coordinated transportation system implemented in an environmentally sensitive manner
☐ Core Services
☐ Not Applicable
Master Plan: [Please select the corresponding Master Plan from the dropdown menu below (if applicable)]
Transportation Master Plan
Background Information:
The City entered into a Cost Participation Agreement with the La Cima Development at its inception to oversize three improvements, the proposed water infrastructure, water storage tower and to address wastewater maintenance of the system to serve the development. These improvements were completed within the first two years of the development. Additionally, the City included cost participation in the construction of Centerpoint Road at the intersection of Wonder World Drive and Old Ranch Road 12 to build the ultimate intersection configuration with a traffic signal. The intersection improvements were not warranted initially with the start of the development. The development is now proceeding with its fourth and fifth residential phases and the improvements are necessary to address the increased traffic and intersection safety. Since the original agreement, five years ago, construction and material costs have increased. This third change order will provide for additional funding in the amount not to exceed $550,000, to cover the City’s percent cost participation in these improvements. Funding for these costs comes from the remaining Wonder World Extension bond proceeds.
Council Committee, Board/Commission Action:
Click or tap here to enter text.
Alternatives:
Click or tap here to enter text.
Recommendation:
Staff recommends approval.