The Finance Committee meeting on February 10, 2026, opened with the adoption of the previous meeting's minutes. The agenda consisted of a single item: a resolution to authorize the city's application for a BUILD grant for a corridor improvement project that includes pedestrian, lighting, and camera enhancements and crosses a railroad. The city would provide a $4 million match (15% of the $26.6 million total) to strengthen the application. After staff presentations and committee discussion, the authorization was approved unanimously.
Okay, no motion. Second. All in favor say aye. Aye. Minutes are adopted. All right. One item on the finance committee. One item. So if y'all remember last week, um, Mr. Gardner and Miss Standridge gave all kind of a brief introduction about this grant and about the scope of this project. So today Clint and I are going to kind of give you some more details, and if you have any questions, feel free to ask us. So back in 2022, we applied for the race grant. We were not awarded, but the DOT did give us comments that were favorable for our application. And then last fall we were going to apply for the BIP grant, but it was canceled prior to the application window opening. Shortly after that, the 2026 build grant opened, and so that is what we are requesting today is authorization to apply for it. So as you can see with the grant funding, the we are asking for a four million dollar match. A match is not required for this application. However, we do believe that this would make our application more competitive. This would be about a 15% match. So as you can see, the federal request would be about 22.6 million. You have that four million dollar match, and then a total of 26.6. So after this, we're gonna go into kind of the scope of the project. I'm gonna let Clint take over and kind of give some more details about it. But as you can see from this map, this is where the project location is, and it's gonna be in counselor eating's district. So who and how is the calculation? I mean, we talked last week in projects, right? About no match required, but obviously as we try to turn the dial to make our request most competitive, part of that was completed design, which is what we reviewed last week. Who who came up with the four million and how we were basing it off of our previous application? So in the past it was an 80-20 percent, like 80 percent federal, 20% local, and so then whenever we were looking, we were thinking four million dollars would make it to where 15% would be competitive, but it also would be where you know it would be fair, and that is also what our contract with gray matter consulting when they were looking at other past applications in this application they recommended as well. Ms. McCarthy, does that include the one and a half that's already been budgeted by the city and the dollars that are being spent? Does that include is that part of the 15% or that four million? Is that separate or separate? Okay, that one and a half was for the year. Yes, sir. To get us really to this point where yes do that. Okay, thank you. So we we took the 8020 and just dialed it a little bit to the right and went that should be maybe better. Yes, sir. Clint, you're up. All right. So project timeline. Um we're in the preliminary design right now. Um that's where we're at right now. We got the final design coming up next. Um we should hear more about the uh announcement from the bid uh build grant around June, July or so. Um right away acquisition. There's I believe there's uh 16 different tracks. You know, it's uh that that's always uh we we we're estimating about a year and a half it'll take to get all right away. You know, obviously University Boulevard, that was a that was we we did a heroic effort to get that uh done in about eight nine months, but um we got we just we have a year and a half for right away and then construction we got from January 28 to December 29.