Title
A Resolution authorizing the Mayor to execute and administer the revised agreement between the City of Colorado Springs, the Pikes Peak Rural Transportation Authority (PPRTA) and the Colorado Department of Transportation (CDOT) for the Old Ranch Road and Powers Interchange Project
Presenter:
Kathleen Krager, Traffic Division Manager
Travis Easton, P.E. Public Works Director
Body
Summary:
The attached resolution will authorize the Mayor to execute the attached agreement between the City of Colorado Springs, Pikes Peak Rural Transportation Authority, and the Colorado Department of Transportation. The agreement commits an $8.6 million match from the City of Colorado Springs Pikes Peak Rural Transportation (PPRTA) funding toward the Old Ranch Road and Powers Interchange Project. This IGA includes PPRTA and allows them to pay CDOT with funds designated by the City of Colorado Springs.
Previous Council Action:
Resolution 59-14 passed on 6/24/2014 to provide $8.6 Million in PPRTA funding as a local match.
Background:
On July 1, 2013, the City of Colorado Springs, Colorado Department of Transportation (CDOT) Region 2 and the Pikes Peak Area Council of Governments (PPACG) submitted a proposal to the State for RAMP (Responsible Acceleration of Maintenance and Partnerships) funding to construct the Old Ranch Road/Powers Interchange Project. This high priority project for our Region was selected to receive RAMP funding.
The Interchange was completed by CDOT in 2015 and provides a safe and efficient flow of traffic between Old Ranch Road and Powers Boulevard (SH 21). PPRTA has requested to be a signatory party to the agreement for accounting purposes. This agreement provides the mechanism for PPRTA to pay CDOT with funding that has been designated by the City of Colorado Springs.
Financial Implications:
The $8.6 Million needed as City participation to fund this project was included in the PPRTA II A list. Funding has been budgeted withi...
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