Title
A resolution approving and authorizing the Mayor to execute and administer the Intergovernmental Agreement between the City of Colorado Springs and the Copper Ridge Metropolitan District for the construction oversight, construction management and certain maintenance and operations obligations associated with the extension of State Highway 21 between I-25 Expressway and Voyager Parkway
Presenter:
Travis Easton, P.E., Director of Public Works
Body
Summary:
The attached Resolution authorizes the Mayor to execute and administer the Intergovernmental Agreement (IGA) between the City of Colorado Springs and the Copper Ridge Metropolitan District (District).
Background:
The State Highway 21 extension is a critical regional transportation project. This initial phase will extend State Highway 21 from Voyager Parkway, west to I-25.
The District is undertaking the financing, engineering and construction of the project. In order to finance the project, the District is issuing tax increment and sales tax revenue bonds.
Although the project is funded by the District, the Colorado Department of Transportation (CDOT) does not have the authority to enter into an agreement directly with the District.
Therefore, CDOT entered into two separate intergovernmental agreements (IGAs) with the City. Those IGAs obligated the City to perform specific construction management and oversight of the project, and perform certain maintenance obligations. In order to facilitate the City’s performance of those obligations under the two intergovernmental agreements, the City is entering into this agreement with the District.
Previous Council Action:
N/A
Financial Implications:
This IGA passes the financial obligations of the City related to the construction management and oversight, and maintenance onto the Copper Ridge Metropolitan District.
City Council Appointed Board/Commission/Committee Recommendation:
N/A
Stakeholder Process:
N/A
Alternatives:
To approve the Resolution establishing the IGA, or to disapprove it
Recommended Action
Proposed Motion:
Move to approve the Resolution hereby approving the IGA and authorizing the Mayor to execute and administer the IGA on behalf of the City
Summary of Ordinance Language
N/A