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Item 1.O.
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| City Council Regular | |
| Date: | 03/25/2024 |
| Title: | Resolution of Intent to Create SID 1425 Broso Park and Gabel Traffic Signal |
| Presented by: | Debi Meling |
| Department: | Public Works |
| Presentation: | No |
| Legal Review: | Yes |
| Project Number: | N/A |
RECOMMENDATION
Staff recommends that Council approve the Resolution of Intent to Create SID 1425 and set a public hearing date for April 22, 2024.
BACKGROUND (Consistency with Adopted Plans and Policies, if applicable)
With recent developments within Broso Valley Park Subdivision, a traffic signal at the intersection of Broso Park Drive and Gabel Road is warranted. The Subdivision Improvements Agreement for Broso Valley Park Subdivision states that the subdivision is responsible for one-half of the cost of construction of the traffic signal at Broso Valley Park Drive and Gabel Road. The remaining one-half of the cost of the signal will be completed through a cash contribution from the City. When the property on the west side of Gabel Road develops in the future, the City will require the developer to reimburse the City for one-half of the cost of the traffic signal. This project is also widening 800-feet of the west side of Gabel Road south of Broso Valley Park Drive to add a travel lane. The additional travel lane is being funded from a cash contribution recently collected from Costco for traffic impacts to the intersection of Zoo Drive and Gabel Road.
Staff sent letters to property owners in January 2024 describing the proposed SID and estimated assessments. Prior to creation of the SID anticipated for the April 22, 2024, Council meeting, staff solicited bids in order to obtain accurate costs for the SID. The project was bid on February 20, 2024 with Montana Lines being the lowest responsible bidder. Actual bid costs were then used to determine the overall SID cost and proposed assessments.
Staff sent letters to property owners in January 2024 describing the proposed SID and estimated assessments. Prior to creation of the SID anticipated for the April 22, 2024, Council meeting, staff solicited bids in order to obtain accurate costs for the SID. The project was bid on February 20, 2024 with Montana Lines being the lowest responsible bidder. Actual bid costs were then used to determine the overall SID cost and proposed assessments.
ALTERNATIVES
The Council may:
• Approve the Resolution of Intent to Create SID 1425 and set a public hearing for the April 22, 2024, City Council Meeting; or
• Not approve the Resolution of Intent to Create SID 1425. If not approved, the traffic signal will not be constructed by SID and would have to be constructed through other funding mechanisms.
• Approve the Resolution of Intent to Create SID 1425 and set a public hearing for the April 22, 2024, City Council Meeting; or
• Not approve the Resolution of Intent to Create SID 1425. If not approved, the traffic signal will not be constructed by SID and would have to be constructed through other funding mechanisms.
FISCAL EFFECTS
The total estimated costs of the improvements are $730,379.70. The costs of the improvements are to be paid from the following sources: (1) $289,000.00 of Special Improvement District bonds; (2) $116,958.33 of cash contribution collected from Costco by the City; and (3) $324,421.37 of cash contribution from the City of Billings from Gas Tax funds.