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TO: |
Board of Trustees |
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THROUGH: |
Jay Fox, Executive Director |
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FROM: |
Dave Hancock, Director of Capital Development |
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PRESENTER(S): |
Dave Hancock, Director of Capital Development |
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TITLE:
title
Proposed 2023-2027 Capital Plan Amendment and 2023 Capital Budget Amendment for the TRAX Daybreak Station Project
end
AGENDA ITEM TYPE:
Discussion
RECOMMENDATION:
Informational item for discussion
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 first amendment to the Capital Plan was presented to the Local Advisory Council in February and adopted by the Board of Trustees on March 8, 2023. A second amendment to the Capital Plan was presented to the Local Advisory Council in June and adopted by the Board of Trustees on June 14, 2023. .
DISCUSSION:
This proposed 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 proposed 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.
The 2023-2027 Capital Plan Amendment will be presented to the Local Advisory Council for approval and recommendation to the Board of Trustees in September and presented to the Board for approval in October. The 2023 Capital Budget Amendment will be presented to the Local Advisory Council for consultation in September and presented to the Board for approval in October.
ALTERNATIVES:
None
FISCAL IMPACT:
Costs associated with the design (and potentially construction) of the project will be reimbursed by LHMRE, LLC.
ATTACHMENTS:
Proposed Capital Plan Amendment