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Item # 15.

Council Meeting

Meeting Date:	10/13/2020
Department:	Public Works
Pillars:	Excellence in Transportation Systems
Milestones:	Establish an intentional culture throughout the organization that is based on continuous improvement, excellence, and adherence to our core values

AGENDA CAPTION:

Consider Action on a Resolution to Approve a Joint Funding Agreement With VPDEV2, LLC (a.k.a UDR) for Funding Related to the Design and Construction of the Alpha Road Connector Project / Bella Lane Extension and Authorize the City Manager to Execute the Agreement.

BACKGROUND:

At the September 22, 2020 meeting, Council approved an Interlocal Agreement between the Town, City of Farmers Branch and Dallas County Community College District (DCCCD) to facilitate the construction of the Bella Lane extension from the Vitruvian development through Brookhaven College in Farmers Branch to Alpha Road as required by Phase IV of the Amended and Restated Master Facilities Agreement between the Town and UDR, Inc.

This Joint Funding Agreement outlines the financial commitment between the Town and VPDEV2, LLC a.k.a UDR (the developer of Vitruvian Park).

RECOMMENDATION:

Administration recommends approval.

Attachments
Resolution - Alpha Road/Bella Lane Connector Joint Funding Agreement