Discussion and possible action to approve a budget amendment in the amount of $2,200,000 from contingency to allow for the initiation of a Design Concept Report update for the Lake Pleasant Parkway, Loop 303 to State Route 74 Capital Improvement Program project funded in the adopted Fiscal Year 2025 Capital Improvement Program.

Lake Pleasant Parkway from Loop 303 (L303) to State Route 74 (SR 74) is classified as a Parkway according to the City of Peoria Street Classification Map and the General Plan. It is a two-lane rural roadway that provides regional access to SR 74 and the Lake Pleasant Parkway Regional Park. The majority of land within the area is currently undeveloped and is owned by the Arizona State Land Department (ASLD).

This segment of Lake Pleasant Parkway has been previously addressed in the Phase III of Lake Pleasant Parkway DCR (Williams Rd to SR 74), prepared in 2001 by Kirkham Michael and in the in the Final DCR Update for Lake Pleasant Parkway (Westwing to SR 74), prepared by Parsons Brinckerhoff in 2010.  

Since the publication of the 2010 DCR Update, major changes have occurred and the City is concerned that stakeholders, such as Arizona State Land Department (ASLD), Central Arizona Project (CAP), and utility companies have changed their standards. Based on general development trends of increased development in North Phoenix and Peoria, the City anticipates rapid growth within the project limits. In an effort to address a critical need for improved roadway circulation and access in the City of Peoria along the corridor, this request is to advance funding from FY2025 to FY2024 to allow for the initiation of a DCR update.

The primary purpose of this DCR update is to define the project scope, evaluate the phasing of the project between L303 and the CAP and the CAP and SR 74, identify issues, conduct utility coordination, develop and evaluate improvement alternatives, document the environmental conditions, evaluate noise and lighting requirements, evaluate drainage impacts, coordinate with other studies being conducted within the area, provide a recommended alternative design, and estimate of the improvement costs as well as an implementation plan.

City Council approved the design, land acquisition and construction phases of this project as part of the adoption of the FY2024-FY2033 Capital Improvement Program (CIP).

Staff recommends City Council approve a budget amendment in the amount of $2,200,000 from contingency to allow for the initiation of a Design Concept Report update for the Lake Pleasant Parkway, Loop 303 to State Route 74 CIP project.

The FY2024-FY2033 CIP includes the Lake Pleasant Parkway, Loop 303 to State Route 74 Project (EN00024).  This is a request to advance $2,200,000 of funding from FY2025 to FY2024.  As such, a budget amendment in the amount of $2,200,000 is required from contingency to the Lake Pleasant Parkway, Loop 303 to State Route 74 CIP project budget.