SUBJECT
title
Public Hearing and Introductory Ordinance authorizing the City Manager to amend the FY 2024 Capital Improvement Fund by appropriating revenues and expenses in the amount of $172,658.20 for the agreement between the City of Laredo and Armadillo Construction Company, Ltd. for Springfield Avenue Extension Phase 2 Project to extend Springfield Ave. along the east boundary of Shiloh Highland Subdivision Phase 1 (North of International Blvd.).
body
PREVIOUS COUNCIL ACTION
On June 18, 2018, City Council authorized the City Manager to enter into an agreement with Armadillo Construction Company, Ltd. wherein Armadillo will provide the City construction funds in the amount of $172,658.20 (representing 1/2 of road construction costs of a local street) and right-of-way to extend Springfield Avenue along the east side of Shiloh Highland Subdivision Phase 1 (North of International Blvd.) pursuant to 3-2.A of the Laredo Subdivision Ordinance and providing for the placement of the road construction project in the City's Capital Improvement Program (CIP) within two years of the effective date of this agreement. If the road is not constructed within ten years, the funds will be returned to Armadillo Construction Company.
BACKGROUND
Armadillo Construction Co. Ltd. seeks participate in 1/2 of the cost a local street section extending Springfield Ave. along the east boundary of its Shiloh Highland Subdivision Phase 1 (North of International Blvd.).
COMMITTEE RECOMMENDATION
N/A
STAFF RECOMMENDATION
recommendation
Approval of this motion.
end
Fiscal Impact
Fiscal Year: 2024
Budgeted Y/N?: N
Source of Funds: Capital Improvement Fund
Account #:
Change Order: Exceeds 25% Y/N: N
FINANCIAL IMPACT:
Revenues SP2408
Contribution 402-0000-372-1000
Expenses
Improvement 402-2790-535-9301