Label
DPS Traffic Signal Equipment Upgrade $3,177,030
Division of Transportation
John Cromly (x2290)/Paul M. Rasmusson (x7868)
Revised
Title
Authorizing the appropriation and expenditure of $3,177,030 from the unappropriated balance of the Franklin Park/Westfield Tax Increment Fund (TIF) for traffic signal equipment upgrades and installation of signal performance measures (SPM) data collection and analytics software to improve traffic signal timing and coordination in the TIF area; authorizing the mayor to accept bids and award contracts for this purpose; and declaring an emergency.
Body
SUMMARY & BACKGROUND:
In 2004, to improve traffic flow and safety conditions and reduce hazards to vehicular traffic associated with the expansion of the Franklin Park Mall, City Council passed Ordinance 810-04 establishing a Tax Increment Financing (TIF) property tax exemption. The TIF service payments were authorized for road and traffic infrastructure improvements in a defined area surrounding the Franklin Park/Westfield mall.
The Division of Transportation is requesting the appropriation and expenditure of $3,177,030 from the Franklin Park/Westfield Tax Increment Fund (TIF). This money will be used for a project to upgrade the traffic signal equipment in the TIF area, as well as installing high-resolution traffic data collection and analytics software that will proactively optimize traffic signal timing.
Summary
NOW, THEREFORE, Be it ordained by the Council of the City of Toledo:
SECTION 1. That the sum of $3,177,030 is authorized for appropriation from the unappropriated balance of the Franklin Park/Westfield Tax Increment Fund to Account Code 5031-22500-8CT1804TRSIGN for traffic signal equipment upgrades and installation of SPM software; and further authorizing the expenditure of same.
SECTION 2. That the mayor is authorized to prepare plans and specifications, accept bids and award contracts to complete the improvements identified above, in...
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