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TO: |
Local Advisory Council |
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THROUGH: |
Jay Fox, Executive Director |
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FROM: |
Dave Hancock, Chief Capital Services Officer |
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PRESENTER(S): |
Dave Hancock, Chief Capital Services Officer |
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Vi Miller, Chief Financial Officer |
TITLE:
title
AR2023-09-01 - Resolution Approving the Proposed Third Amendment to the 2023-2027 Capital Plan and Recommending Approval by the Authority’s Board of Trustees
end
AGENDA ITEM TYPE:
Resolution
RECOMMENDATION:
Approve Resolution AR2023-09-01 to approve the proposed 2023-2027 Capital Plan amendment and recommend adoption by the Board of Trustees
BACKGROUND:
The Larry H. Miller Group (LHMRE, LLC) recently engaged UTA in discussions about adding a TRAX station in the Daybreak development, close to the new baseball stadium they are building. The station will be located on the Redline in Daybreak between the intersection of Split Rock Road and Mellow Way, providing a third station in Daybreak. Before the Capital Development group can move forward with the proposed station, a new capital project (Daybreak Station) must be approved by the UTA Local Advisory Council and Board of Trustees through an amendment to the 5-Year Capital Plan.
UTA and Kennecott Land entered an Interlocal Agreement (ILA) on May 13, 2008. This agreement facilitated the construction of the Mid-Jordan Light Rail Line. The agreement granted UTA an easement to build and operate the Mid-Jordan Light Rail Line through Kennecott Land at Daybreak. The ILA contemplated a future third station in Daybreak at approximately 11000 South without assigning responsibility to either Party for the design or construction of the station. With the recent plans to construct the new stadium, LHMRE has now committed to assume the financial responsibility and will reimburse UTA for the costs of design and construction of the station.
On December 21, 2022, the Board of Trustees approved the 2023-27 Capital Plan and the 2023 Capital Budget. A second version of the Capital Plan was presented to the Local Advisory Council in June 2023 as a Second Amendment* and adopted by the Board of Trustees on June 14, 2023.
*Note - the amendment approved on June 14th was the first amendment to the plan, however, the amendment was titled “Second Amendment” in error (a scrivener’s error).
DISCUSSION:
This proposed third revision and Third Amendment to the 2023-2027 Capital Plan would add the TRAX Daybreak Station Project with its associated 5-year spending plan. To meet the project timeline, a 2023 Capital Budget amendment is also being proposed in a separate agenda item to provide budget authority in the 2023 Capital Budget to begin the station design and possibly initiate construction activities. The budget amendment would also account for funds from LHMRE, LLC to reimburse UTA for the costs associated with this station design.
ALTERNATIVES:
The project could be delayed and incorporated into a future Capital Plan. This action would delay the construction and delivery of the Daybreak Station, impacting the transportation solutions for the opening of the new baseball stadium.
FISCAL IMPACT:
Funds are from external partners. No impacts to UTA’s cash balance.
ATTACHMENTS:
- Resolution AR2023-09-01