AGENDA REPORT
REQUEST FOR CITY COUNCIL ACTION
DATE: 9/19/2018
TO: Honorable Mayor and City Council Members
FROM: Public Works Department
SUBJECT:
Title
City Council consideration to increase revenue estimates and appropriate $480,585 in the Public Works Transportation Grants/Agreements Fund to a new Capital Improvement Project titled "Traffic Signal at Bedford Canyon and Georgetown Project, No. 2017-08."
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RECOMMENDED ACTION:
Recommended action
That the City Council:
1. Increase revenue estimates and appropriate $480,585 in the Public Works Transportation Grants/Agreements Fund, received by the New Home Company, to fund a new traffic signal at Bedford Canyon and Georgetown and create a new Capital Improvement Project titled "Traffic Signal at Bedford Canyon and Georgetown Project, No. 2017-08."
2. Authorize the Assistant City Manager/Administrative Services Director to approve additional budgetary adjustments required to complete the project, with no net impact to the fund balance in the Public Works Transportation Grants/Agreements Fund.
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ANALYSIS:
As part of the development agreement with the New Home Company for the Arantine Hills Development, a new traffic signal is required to be funded entirely by the developer prior to the issuance of the first production building permit. The City has received $480,585 from the New Home Company, which was deposited into the Public Works Transportation Grants/Agreements Fund 243. This Council Action will appropriate this money into a new capital improvement project. The new traffic signal at Bedford Canyon and Georgetown will help improve traffic circulation in the area by replacing the existing all-way stop signs. This traffic signal was included as a traffic mitigation measure for the Arantine Hills Development to improve traffic flow and traffic safety to the region. The project will include the construction of a new traffic signal, improvements to Americans with Disabilities Act (ADA) faci...
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