HomeMy WebLinkAboutR2025-052 20250414RESOLUTION NO. R2025-52
A Resolution of the City Council of the City of Pearland, Texas, authorizing a
Letter Finance Agreement with between the City and the Lower Kirby Pearland
Management District associated with the Hooper South and Fruge West Road
Improvements.
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PEARLAND, TEXAS:
Section 2. That certain Letter Finance Agreement with the Lower Kirby Pearland
Management District, a copy of which is attached hereto or Exhibit “A” and made a part here of, is
hereby approved.
Section 3. That the City Manager or his designee is hereby authorized to execute and
the City Secretary to attest a Letter Finance Agreement associated with the Hooper Road South
and Fruge Road West Improvements.
PASSED, APPROVED and ADOPTED this the 14th day of April, A.D., 2025.
________________________________
J. KEVIN COLE
MAYOR
ATTEST:
________________________________
FRANCES AGUILAR, TRMC, MMC
CITY SECRETARY
APPROVED AS TO FORM:
________________________________
DARRIN M. COKER
CITY ATTORNEY
Docusign Envelope ID: 5EAB24DA-7298-4FDD-8ABB-6A0B1BA58F81
LOWER KIRBY PEARLAND MANAGEMENT DISTRICT
c/o Allen Boone Humphries Robinson LLP
3200 Southwest Freeway, Suite 2600
Houston, Texas 77027
March 31, 2025
Mr. Trent Epperson
City Manager
City of Pearland, Texas
3519 Liberty Drive
Pearland, TX 77581
Re: Financing of design, construction and right-of-way acquisition for Fruge
Road west 'of Kirby Drive and Hooper Road improvements
Dear Mr. Epperson:
Lower Kirby Pearland Management District (the "District") and the City of
Pearland, Texas (the "City') entered into a Financing Agreement (the "Agreement') dated
March 10, 2014, to provide for the financing and construction of facilities to serve land
within the District. The District and the City have determined to proceed with design,
construction and right-of-way acquisition for Fruge Road west of Kirby Drive and Hooper
Road improvements (the "Project) in accordance with the Agreement The City will make
all payments related to the Project, which are estimated to be $5,850,000, as shown in the
estimated Project budget, attached hereto as Exhibit "A', and the District agrees to
reimburse the City for actual costs of the Project pursuant to the terms of the Agreement.
[EXECUTION PAGE FOLLOWS]
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This letter financing agreement was duly authorized at a meeting of the Board of
Directors of the District held on the 31st day of March, 2025.
Very truly yours,
LOWER KIRBY PEARLAND MANAGEMENT
DISTRICT
By: Afa
P • R. - de: oard of Directors
AGREED TO AND ACCEPTED this eh day of 14)6 1 , 2025.
City of Pearland, Texas
By:
aona_ngi A-1 nnv 1,1
EXHIBIT "A"
Lower Kirby
Hooper Phase II and Fruge West Reconstruction
Design and Construction
Estimated Budget
Engineering
Construction
ROW Acquisition
Total Estimated Budget
$ 650,000
$5,000,000
$ 200,000
$5,850,000