Title
A RESOLUTION AUTHORIZING THE AMENDMENT TO AN EXISTING INTERGOVERNMENTAL AGREEMENT BY AND BETWEEN THE COLORADO DEPARTMENT OF TRANSPORTATION REGARDING FUNDING FOR THE VASQUEZ BOULEVARD IMPROVEMENTS PROJECT.
Body
Summary & Background
The purpose of this resolution is to authorize the Mayor to Execute an Amendment to an Existing Intergovernmental Agreement by and Between the Colorado Department of Transportation Regarding Funding for the Vasquez Boulevard Improvements Project.
The Colorado Department of Transportation (CDOT) and the City entered into an Intergovernmental Agreement (IGA) in 2021 for the improvements of Vasquez Boulevard between E. 52nd Avenue and E. 64th Avenue. At that time, the City agreed to contribute $1,500,000 to the project.
The City applied for, and was awarded, Congressional Directed Funds (earmarks) for $4,000,000 in 2022 for the construction of the Vasquez and E. 62nd Avenue intersection.
In addition, the City previously budgeted $800,000 in Highway Users Tax Fund (HUTF) funding and $200,000 in General Fund funding in the CIP towards the project after the original IGA was executed. The amended IGA will incorporate this funding in addition to the Congressional Directed Funds received into the IGA. The IGA will allow the continued design and right-of-way acquisition for the project and the construction of the Vasquez.
The project is currently in the environmental process. The current project schedule is as follows:
• FHWA final review: Aug. 28 - Sept. 15
• 30-day public review: Oct. 30 - Dec. 1
• Anticipated Finding Of No Significant Impact (FONSI) signature - late Feb. 2024
• Bid out long lead items - June 2024
• Anticipated construction start - Q1 2025
Staff Responsible (Department Head): Shawn Poe, PE, CFM, Interim Director of Public Works and City Engineer
Staff Presenting: Shawn Poe, PE, CFM, Interim Director of Public Works and City Engineer
Financial Impact:
The estimated total of this amendment to the Agreement is $5,000,000.00.
Funding Sources :
Commerce City will utilize three sources of funding for this awarded project:
1) HUTF Funding - $800,000
2) General Fund - $200,000
3) Congressional Earmarked Funds - $4,000,000
4) CIP - $1,500,000
CDOT will fund the remaining $23.2 million for the project estimated to cost $28.2 million.
Staff Recommendation:
Approve a Resolution authorizing the Mayor to Execute an Amendment to an Existing Intergovernmental Agreement by and Between the Colorado Department of Transportation Regarding Funding for the Vasquez Boulevard Improvements Project.
Suggested Motion:
Motion to approve a Resolution authorizing the Mayor to Execute an Amendment to an Existing Intergovernmental Agreement by and Between the Colorado Department of Transportation Regarding Funding for the Vasquez Boulevard Improvements Project.