Sugar Land 4B Corporation
	Agenda Request
Agenda Of:	04/16/08	Agenda Request No:		IV B
Initiated By:	MIKE HOBBS	Responsible Department:		Public Works
Presented By:	Mike Hobbs	Department Head:		Mike Hobbs, Director of Public Works
		Additional Department. Head (s):		N/A
Subject / Proceeding:	Supplemental Funding Resolution for Aesthetic Improvements on State Hwy 6
Exhibits:	Resolution No. 08-04-06
Clearances			Approval
Legal:	Joe Morris City Attorney		Executive Director:	Joseph Esch, Bus. & Intergov. Relations
Budget
Expenditure Required: $			605,660
Current Budget: $			370,000 (fy 2007) and 500,000 (fy 2008)
Additional Funding: $			0
Recommended Action
Staff is recommending the approval of Resolution No. 08-04-06 to authorize $500,000 in additional funding for the design and replacement of span wire signal installations with decorative at two intersections on Highway 6.
Executive Summary
In December 2006 the 4B Corporation approved a funding resolution in the amount of $425,000 for the upgrade of two span wire traffic installations on Highway 6 at the intersections with Flour Drive and Grants Lake Blvd. In FY 2007-2008 both City Council and the 4B approved a capital improvements budget that included an additional $500,000 to address four additional intersections on Highway 6 at Dulles Ave., Frost Pass, Settlers Way and Williams Trace. The purpose of the project is replace existing span wire signal installations which are nearing the end of their serviceable life and will need replacement in the near future. The replacement installations will be upgraded to decorative per the City’s Beautification policy as it relates to traffic signal installations along state routes. The primary purpose for requesting the 4B Corporation’s approval of Resolution No. 08-04-06 is to authorize the use of budgeted funds to address a gap between the current approved funding resolution and the required funds to complete the reconstruction of the Grants Lake and Flour Drive intersections. Since the inception of this project, construction costs and materials costs have risen dramatically, particularly the cost of steel and copper which are both key components in the construction of traffic signals. There is currently $370,000 unencumbered and available in the project budget. Staff used the competitive sealed bid process to select a contractor for the project. With the apparent low bid for installation of the two above specified locations being $605,660, we have a budget shortfall of $235,660. With approval of the resolution, staff will be able to fund the shortfall and proceed with the project. Additionally, we propose to design the remaining three intersections (at this time the Dulles Ave. intersection will be addressed by the Dulles Ave improvement project) and requesting funding for construction in the FY 2008-2009 budget.
Exhibits

RESOLUTION NO. 08-04-06

A RESOLUTION OF THE SUGAR LAND 4B CORPORATION APPROVING PROJECT FUNDING FOR UPDATING EXISTING TRAFFIC SIGNALS ALONG STATE HIGHWAY SIX AT THE INTERSECTIONS OF STATE HIGHWAY SIX AND FLUOR DANIEL DRIVE, GRANTS LAKE BOULEVARD, FROST PASS, SETTLERS WAY AND WILLIAMS TRACE BOULEVARD UNDER THE FUNDING AGREEMENT WITH THE CITY OF SUGAR LAND.

WHEREAS, the Sugar Land 4B Corporation entered into a Funding Agreement with the City of Sugar Land, Texas, dated December 12, 1995, to provide funding as requested by the City for projects authorized under section 4B of the Development Corporation Act of 1979 (the Act); and

WHEREAS, the City has requested that the SL4B fund the project described herein; and

WHEREAS, the Board of Directors of the SL4B finds that the project is authorized under and properly serves the purpose of section 4B of the Act as specified below; and

WHEREAS, notice of the project or general type of project was published on November 22, 1995, as required by section 4B (a-1) of the Act and the City of Sugar Land city council did not receive within 60 days of the published notice a petition from more than 10 percent of the registered votes of the City requesting that an election be held before the specific project or general type of project is undertaken; and

WHEREAS, the SL4B held a public hearing on this specific project on September 20, 2006, NOW, THEREFORE,

BE IT RESOLVED BY THE BOARD OF DIRECTORS

OF THE SUGAR LAND 4B CORPORATION:

Section 1. That in accordance with the Funding Agreement with the City of Sugar Land, it approves funding for the following improvements:

Description and Location of Project: Design and rebuild existing traffic signals along State Highway 6 at the intersections of State Highway 6 and Fluor Daniel Drive, Grants Lake Boulevard, Frost Pass, Settlers Way, and Williams Trace Boulevard to match other ornamental traffic signals along the State Highway 6 corridor.

Estimated Costs for Project: $500,000

Schedule: Start Finish

May 2008 October 2008

Project Authorized Under: Art. 5190.6, Sec. 2 (11) (A):

"Project" also includes expenditures found by the board of directors to be required or suitable for infrastructure necessary to promote or develop new or expanded business enterprises limited to streets and roads, rail spurs, water and electric utilities, gas utilities, drainage and related improvements, and telecommunications and Internet improvements.

APPROVED ON _________________________________, 2008.

__________________________

Ray Meyer, President

Sugar Land 4B Corporation

ATTEST: Reviewed for Legal Compliance:

_____________________________

Karam Abu-Hamdan, Secretary/Treasurer