SUBJECT:
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Approval of a resolution authorizing the President & CEO, or her designee, to finalize and execute an Amended and Restated Agreement Regarding Transit Facilities and Related Improvements at the Uptown ATX Development with Broadmoor Austin Associates and BDN Management, Inc. ("Brandywine") for development of a commuter rail station and related rail infrastructure, for a term ending one year after CapMetro's acceptance of the facilities, in a total amount not to exceed $49,343,368, with a cost to CapMetro of $37,343,368.
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FISCAL IMPACT:
Funding for this action is in the proposed FY2025 Capital Budget. The cost to CapMetro is $37,343,368.
STRATEGIC PLAN:
Strategic Goal Alignment:
? 1. Customer ? 2. Community
? 3. Workforce ? 4. Organizational Effectiveness
Strategic Objectives:
? 1.1 Safe & Reliable Service ?1.2 High Quality Customer Experience ? 1.3 Accessible System
? 2.1 Support Sustainable Regional Growth ? 2.2 Become a Carbon Neutral Agency
? 2.3 Responsive to Community and Customer Needs ? 2.4 Regional Leader in Transit Planning
? 3.1 Diversity of Staff ? 3.2 Employer of Choice ? 3.3 Expand Highly Skilled Workforce
? 4.1 Fiscally Responsible and Transparent ? 4.2 Culture of Safety ? 4.3 State of Good Repair
EXPLANATION OF STRATEGIC ALIGNMENT: This amended agreement will enable CapMetro to fulfill a key component of Project Connect related to Red Line improvements, specifically a new commuter rail station.
BUSINESS CASE: This amended agreement will enable construction of a new commuter rail station serving the Domain, the Uptown ATX development, and the surrounding area. The agreement provides for important financial contributions and services to help CapMetro complete this project.
COMMITTEE RECOMMENDATION: The item was presented and recommended for approval by the Operations, Planning and Safety Committee on May 7, 2...
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