This information is being provided for the City Council's information and no action is required at this time.

The Inner Belt Loop (IBL) project has been in the planning stages for many years.  In 2014, the first phase of the project, Skyway Drive, was constructed from the west end of Wicks Lane to Alkali Creek.  Phase two, continuing the IBL from Alkali Creek to Highway 3, has been planned for construction when funding allows.  The City applied for a BUILD grant and was awarded a grant that will cover approximately one half of the estimated $14M for construction.  City staff will present an update of the project including the next steps that need to be taken to complete the construction.  In addition, developing a plan for utilities will be integral to successful development of the corridor.  Staff will provide information that will be needed in the future when developing the funding strategy and development policies. 

There are no alternatives to consider as no action is required.

A financial summary of the IBL project will be presented including costs to date for phases I and II, the BUILD grant information, and funding required to complete the project.  A brief introduction of utility funding scenarios will be presented, as well.