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06-MOTION TO APPROVE RESOLUTION FOR FUNDING OF PORTION OF RIGHT-OF-WAY ACQUISITION COSTS WITH TXDOTCITY COUNCIL AGENDA ITEM BRIEFING SHEET Submittal Date: Originating Department: Ptesented By: Agenda Item No.: 11-10-11 PEDC Steve Gilbert, Director Council Date: 11-28-11 RECOMMENDED MOTION: Motion to approve a Resolution declaring support for funding a portion of the right-of-way acquisition costs for the TxDOT upgrading and widening State Highway 24 Project from Cooper, Texas southwest to the Delta/Hunt County Line in an amount not to exceed $1,500,000.00 to be funded over an amortization period. POLICY ISSUE(S): Economic Development BACKGROUND: BOARD/COMMISSION RECOMMENDATION: EXHIBITS: Resolution ACTION: BUDGET INFO: N/A ❑ Financial Report ❑ Minute Order Expense $ ❑ Department Report Z Resolution Budgeted Amt. $ ❑ Presentation ❑ Ordinance y'I'D Actual $ ❑ Public Hearing ❑ Other Acct. Name Acct. Number FISCAL NOTES: REVIEWED AND APPROVED BY: ~ Administration Z Ciry Clerk ❑ Communiry Development ❑ EMS/IT ❑ Finance ❑ Fire ❑ Municipal Court 0 Legal ❑ Libraty ❑ Police ❑ Eng./Public Wotks ❑ Utilities City of Paris 00~ Revised 2/04/08 Draft RESOLUTION N0. A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PARIS, TEXAS DECLARING SUPPORT FOR FUNDING A PORTION OF THE RIGHT-OF-WAY ACQUISITION COSTS AND UTILITY RELOCATION COSTS FOR UPGRADING AND WIDENING STATE HIGHWAY 24 FROM COOPER, TEXAS SOUTHWEST TO THE DELTA/HUNT COUNTY LINE IN AN AMOUNT NOT TO EXCEED $1,500,000.00; MAKING OTHER FINDINGS AND PROVISIONS RELATED TO THE SUBJECT; AND DECLARING AN EFFECTIVE DATE. WHEREAS, expansion and improvement of the transportation infrastructure leading to Paris, Lamar County, Texas from the Interstate 30 corridor is vital to the economic development of the City of Paris, and Lamar County, as well as to the safety of the traveling public; and WHEREAS, for over 30 years, community leaders from the City of Paris, Texas, Lamar County, Texas and the North East Texas Regional Mobility Authority urged the Texas Legislature, TXDOT and the Texas Transportation Commission to upgrade and widen SH 24 from a 2-lane highway to a 4-lane divided highway from Interstate 30 to the Paris city limits; and WHEREAS, the only stretch of SH 24 that has not been upgraded to a 4-lane divided highway is the 10.4 mile gap from Cooper, Texas southwest to the Delta/Hunt County line; and WHEREAS, in 2001 the Texas Legislature enacted legislation to create Regional Mobility Authorities to focus transportation needs and available funding for projects on a regional basis; and WHEREAS, in 2002 the counties of Delta, Hunt, Lamar and Hopkins formed the North East Texas Regional Mobility Authority ("NETMOB") to focus on transportation needs in the four county area and to advocate these transportation projects to TXDOT and the Texas Transportation Commission; and WHEREAS, upgrading and widening SH 24 from a two-lane highway to a four-lane divided highway between Interstate 30 and the city limits of the City of Paris, Texas has been a top priority project for the North East Texas Regional Mobility Authority and the Sulphur River Regional Mobility Authority (successor entity to NETMOB); and WHEREAS, TXDOT has now pledged Thirty Million Dollars ($30,000,000.00) of funding to complete the final 10.4 mile stretch of SH 24 from Cooper southwest to the Delta/Hunt County line but will require approximately Four Million Five Hundred 00S Thousand Dollars ($4,500,000.00) of local participation for the project to pay for right-of-way acquisition and utility relocation; and WHEREAS, the Sulphur River Regional Mobility Authority ("SuRRMA") has requested the City of Paris, Texas, Lamar County, Texas and the Paris Economic Development Corporation to support one-third each the total $4.5 Million local participation match for the SH 24 widening project; and WHEREAS, many business and industry leaders in the Paris, Lamar County, Texas area have contacted their local elected officials about how important the completion of the SH 24 widening project is to the continued growth and success of their businesses in Paris, Lamar County, Texas; and WHEREAS, the City Council of the City of Paris, Texas, has determined that the upgrade and widening of the final 10.4 mile stretch of SH 24 from Cooper southwest to the Hunt/Delta County line is of vital importance to the growth and retention of business and industry in Paris, Lamar County, Texas and to the growth and retention of primary jobs at these local businesses and industry in Paris, Lamar County, Texas; and NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE PARIS ECONOMIC DEVELOPMENT CORPORATION OF PARIS, LAMAR COUNTY, TEXAS: Section 1. That the City Council of the City of Paris, Texas, hereby pledges its financial support of the SH 24 widening project from Cooper city limits southwest to the Delta/Hunt county line in a present value dollar amount not to exceed One Million Five Hundred Thousand Dollars ($1,500,000.00) payable over an amortized loan period subject to loan agreement finalization between the Texas State Infrastructure Bank and SuRRMA. Section 2. This pledge of financial support by the City of Paris, Texas is contingent upon TXDOT entering into an agreement to construct the SH 24 widening project and receipt of signed and duly authorized financial commitments from the other public entities participating in the SH 24 widening project. Section 3. This resolution shall be effective from and after the date of passage. PASSED AND APPROVED this 28th day of November, 2011. A.J. Hashmi, M.D., Mayor 00I