21-1555ORDINANCE NO. 21-1555
AN ORDINANCE OF THE CITY OF DENTON AUTHORIZING THE TRANSFER OF FUNDS
FROM THE DOWNTOWN TAX INCREMENT REINVESTMENT ZONE (TIRZ) SIDEWALK
AND LIGHTING PROJECT TO THE DOWNTOWN STORM DRAIN PHASE I PROJECT IN
THE AMOUNT OF $102,451.25 TO FACILITATE THE CONSTRUCTION OF THE
MCKINNEY STREET SEGMENT (BELL PLACE TO FRAME STREET) OF THE 2018
SIDEWALK IMPROVEMENTS PROJECT.
WHEREAS, the Downtown. Tax Increment Reinvestment Zone ("TIRZ") Sidewalk and
Lighting Project is currently scheduled to complete in the fourth quarter of calendar year 2021 and
has a projected surplus of $400,000.00 upon completion; and
WHEREAS, the Downtown Storm Drain Phase I Project is currently in construction and
shares the construction zone with a planned sidewalk segment on McKinney Street, namely Bell
Place to Frame Street (the "McKinney Street Segment"), which was originally planned as part of
the 2018 Sidewalk Improvements Project; and
WHEREAS, the funding originally identified for the McKinney Street Segment was
reallocated to other projects; and
WHEREAS, the McKinney Street Segment of the 2018 Sidewalk Improvements Project
falls within the boundaries and scope established with the Downtown TIRZ Sidewalk and Lighting
Project established in Ordinances 2011-128 and 2011-129 and, therefore, qualifies for TIRZ
funding; and
WHEREAS, cost and schedule savings will be realized by constructing the McKinney
Street Segment of the 2018 Sidewalk Improvements Project as an amendment to the existing
construction contract for the Downtown Storm Drain Phase 1 Project; and
WHEREAS, if the proposed transfer is approved to fund sidewalk construction on
McKinney Street, the remaining balance from the Downtown TIRZ Sidewalk and Lighting Project
will be returned to the Downtown Tax Increment Financing Fund; and
WHERAS, the TIRZ No. 1 Board reviewed and recommended approval of the proposed
$102,451.25 transfer during their July 28, 2021 meeting; and
WHEREAS, the City Council finds it is in the interest of public health and safety to
authorize the above -referenced additional expenditure; NOW, THEREFORE,
THE COUNCIL OF THE CITY OF DENTON HEREBY ORDAINS:
SECTION 1. The findings and recitations contained in the preamble of this ordinance are
incorporated herein by reference as true and as if fully set forth in the body of this ordinance.
SECTION 2. The Interim City Manager, or her designee, is authorized to transfer
$102,451.25 in funding from the Downtown TIRZ Sidewalk and Lighting Project to the
Downtown Storm Drain Phase I Project for the construction of sidewalk for the McKinney Street
Segment from Bell Place to Frame Street.
SECTION 3. This ordinance shall become effective immediately upon its passage and
approval.
The motion to approve this ordinance was made by `�`�T and
seconded by & ;art 5� p -C, (— , the ordinance was passed and approved by
the following vote r-7 - joj :
Aye Nay Abstain Absent
Gerard Hudspeth, Mayor: ,/
Vicki Byrd, District 1: ./
Brian Beck, District 2: ✓
Jesse Davis, District 3: V' -
Alison Maguire, District 4:
Deb Annintor, At Large Place 5: ✓
Paul Meltzer, At Large Place 6:
PASSED AND APPROVED this the loth day of 1A QQ USS , 2021.
Ly
GERARD HUDSPETH, MAYOR
ATTEST:
ROSA RIOS, CITY SECRETARY
By:
APPROVED AS TO LEGAL FORM:
CATHERINE CLIFTON, INTERIM CITY ATTORNEY
2