Resolution - Engineering: Consider a resolution authorizing the Mayor to execute Development Agreement Contract 17488, with Red Canyon Development, LLC, 146th & Quaker, LLC, Chad Michael Henthorn, 14th Texas Real Estate, LLC., and Bushland Springs, LLC., for the construction of a portion of Quaker Avenue, from 146th Street to Woodrow Road.
Item Summary
This development agreement between the City of Lubbock and Red Canyon Development, LLC 146th & Quaker, LLC, Chad Henthorn, 14 Texas Real Estate, LLC, and Bushland Springs, LLC, is for the construction of a portion of Quaker Avenue from 146th Street to Woodrow Road. It is the intention of this agreement that all parties participate financially in the construction efforts of a portion of Quaker Avenue, with sole responsibility of the developers to construct the roadway improvements.
The bid from the contractor for Quaker Avenue from 146th Street to Woodrow Road, came in at the amount of $4,249,500. This City's contribution in the development agreement is limited to $1,274,850.
Fiscal Impact
This agreement in the amount of $1,274,850, is funded in Capital Improvements Project 92828, Quaker Avenue from 146th Street to Woodrow Road.
Staff/Board Recommending
Erik Rejino, Assistant City Manager Michael G. Keenum, P.E., Division Director of Engineering/City Engineer