To approve the terms and conditions of an Interlocal Agreement between the City of Plano and the Regional Transportation Council (RTC) concerning the roles and responsibilities of each party with respect to Transportation Development Credits (TDCs) awarded for the project summarized in Attachment 1; and authorizing the City Manager to execute all necessary documents. Approved

During FY 2022 and 2023 Engineering staff a) identified a number of transportation safety and capacity improvements at 62 signalized intersections operating along US 75, Dallas Parkway, SH 121, SH 190, SH 289 (Preston Road), and Spring Creek Parkway; b) sought safety improvement funding from the North Central Texas Council of Governments (NCTCOG); and received $5,175,000 in safety funding from NCTCOG. This funding request was recently adopted by the RTC and placed in the 2023-2026 Transportation Improvement Program (TIP).

In a separate approval, the Regional Transportation Council awarded a total of 1,035,000 TDCs to the City of Plano for use on the project listed in Attachment 1. The City of Plano desires to use the TDCs awarded to it in lieu of the required local cash match for this federally funded transportation safety project.

This item approves an Agreement for Award of Transportation Development Credits (TDCs) between the City of Plano and the Regional Transportation Council (RTC).  The City has agreed to use the total awarded credits, in the amount of $1,035,000, toward the federally funded transportation project described in Attachment 1 of the agreement.  The awarded TDCs will be used in lieu of the required local cash match.

Approval of this item supports the City's Strategic Plan Critical Success Factor of being an Excellent, Innovative, and Accountable City Government and providing Multi-Modal Transportation and Mobility Solutions.