To: Honorable Mayor and Members of Town Council
Through: David L. Corliss, Town Manager
Dan Sailer, Public Works Director
From: Aaron Monks, Project Manager
Title
Resolution Approving a Contribution Funding Agreement Between Dawson Trails Metropolitan District No. 1 and The Town of Castle Rock for The Crystal Valley Parkway Interchange Project
Body
________________________________________________________________________________
Executive Summary
The purpose of this memo is to obtain Town Council approval for a resolution for receiving funding and services dedicated to the Crystal Valley Interchange (CVI) between the Town and Dawson Trails Metropolitan District #1.
Discussion
The Town is entering into a funding agreement (Attachment A) with Dawson Trails Metropolitan District #1 for the following responsibilities associated with each Party:
Metro District:
• Establish an Interchange Project Fund in the amount of $50,000,000 as agreed to in their DA to be utilized for drawdown by the project.
• Manage the construction work of the new Dawson Trails Blvd roadway per design and specifications provided by the Town.
• Remove all existing roadway infrastructure within the Dawson Trails Blvd project limits.
• Reimburse the Town for the relocation of CORE electric infrastructure in the amount of $558,000
Town:
• Manage the construction of the interchange project associated with the District’s $50,000,000 contribution.
Enter into an agreement with CORE to have them relocate electric infrastructure that is needed to support both the Metro District’s plans and the interchange project
Budget Impact
There is no budget impact to the Town with this agreement. Total expenditures associated with the CORE electric relocation work has been accounted for. The District’s management of the Dawson Trails Boulevard construction, and the removal of existing infrastructure within these project limits assists with reducing the total CVI project costs to the Town.
Staff Recommendation
Staff recommends the Town Council approve the resolution as introduced by title.
Proposed Motion
“I move to approve the Resolution as introduced by title.”
Alternative Motions:
“I move to approve the resolution as introduced by title with the following changes ______”
“I move to continue this item to a future Town Council meeting date”
Attachments
Attachment A: Resolution
Attachment B: Contribution Agreement