Title
Transportation Department recommending Chairman be authorized to sign Road Improvement Project Funding Agreement 07-1377 with Mitchell McAllister in the amount of $51,288 to provide funding for road improvements on Fairover Court in the Texas Hill Estates Road Zone of Benefit No. 12 as required under the conditions of approval of Certificate of Compliance 97-205; and recommending Budget Transfer 27198 in the amount of $51,288 increasing revenue and expenditures for said improvements. (4/5 vote required)
RECOMMENDED ACTION: Approve.
FUNDING: Donation by Property Owner.
Body
BUDGET SUMMARY:
Total Estimated Cost $ 51,288
Funding
Budgeted $
New Funding $ 51,288
Savings $
Other $
Total Funding Available $ 51,288
Change To Net County Cost $ 0
Fiscal Impact/Change to Net County Cost:
Upon approval by your Board, a budget transfer will be processed making the following adjustments to the Texas Hill Estates Road Zone of Benefit budget for fiscal year 2006/2007:
1) $51,288 will be added to budgeted revenues; 2) $48,888 will be added to expenditures for road maintenance to cover the cost of the work conditioned under Certificate of Compliance (COC) 97-205; and 3) $2,400 will be added to inter-fund expenditures to cover zone of benefit administration costs to process the bid, contract and this Funding Agreement. Once the Funding Agreement is fully executed, the property owner, Mitchell McAllister, will provide the funds to be deposited in the Zone of Benefit account.
There is no net cost to the Texas Hill Estates Road Zone of Benefit, to the Road Fund, or to the General Fund.
Background:
Your Board formed the Texas Hill Estates Road Zone of Benefit on October 16, 1984 by Resolution 326-84 for the purpose of providing road improvement and maintenance services on the roads within the Zone boundaries. Assessor's Parcel Number 096-020-46 and 096-050-13, which are the subject of COC 97-...
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