City of Colorado Springs - File #: 23-331

• File #: 23-331
• Version: 1
• Type: Resolution
• Status: Mayor's Office
• File created: 6/15/2023
• In control: City Council
• On agenda: 7/25/2023
• Final action: 7/25/2023
• Title: A Resolution Authorizing the Mayor to Execute and Administer an Intergovernmental Agreement Between the Pikes Peak Rural Transportation Authority, El Paso County, The City of Colorado Springs, and Copper Ridge Metropolitan District Concerning Reimbursement for The Powers Boulevard Extension Presenter: Gayle Sturdivant, P.E., City Engineer/Interim Public Works Director Travis Easton, P.E., Deputy Chief of Staff Randy Helms, Councilor, PPRTA Board Chair

Date	Ver.	Action By	Action	Result
7/25/2023	1	City Council	adopted	Pass
7/10/2023	1	Council Work Session	referred

Title
A Resolution Authorizing the Mayor to Execute and Administer an Intergovernmental Agreement Between the Pikes Peak Rural Transportation Authority, El Paso County, The City of Colorado Springs, and Copper Ridge Metropolitan District Concerning Reimbursement for The Powers Boulevard Extension

Presenter:
Gayle Sturdivant, P.E., City Engineer/Interim Public Works Director
Travis Easton, P.E., Deputy Chief of Staff
Randy Helms, Councilor, PPRTA Board Chair

Body
Summary:
The Copper Ridge Metropolitan District (District) intends to issue bonds to advance construction of the Powers Blvd Extension from SH83 to Voyager Pkwy (Project). The Project is a PPRTA-3 regional "A-list" project to be funded with PPRTA revenues allocated to the City of Colorado Springs (City) and El Paso County (County), with funds starting to become available in 2025. The District's efforts would advance the start of the project and afford an opportunity for a more effective and efficient project delivery. The District proposes an agreement with the PPRTA, City, and County to reimburse the District for authorized costs up to $140M, subject to annual budgeting and appropriations, and includes the City's oversight of the reimbursement.

Background:
The Powers Blvd Extension - SH83 to Voyager Pkwy project (Project) is a PPRTA-3 regional "A" list capital project, which could begin to be funded by the PPRTA-3 in 2025 with City of Colorado Springs (City) and El Paso County (County) allocations for capital projects. The Copper Ridge Metropolitan District (District) has already funded and built the Powers Blvd section between I-25 to Voyager Parkway. The District would like to advance construction of Powers Blvd between Voyager Pkwy and SH83 now by issuing bonds. The District intends to issue bonds during the summer of 2023 to fund construction of the Project. Construction is anticipated to start later this year with the initial work focused on the Powers Blvd and Voyager Pkwy interchan...