The Sherman City Council will consider an interlocal agreement with the Sherman-Denison Metropolitan Planning Organization for the creation of a thoroughfare plan that would encompass all of Grayson County during its meeting at 5 p.m. Monday in the council chambers of City Hall, 220 W. Mulberry St.

Sherman began updating sections of its master thoroughfare plan last year, but should the agreement be approved, the city would reimburse the SDMPO $40,000 of the total paid for the thoroughfare plan. In documents provided to the city council, city staff explained the agreement would provide the opportunity to have those sections updated quicker than initially planned and reduce the city’s costs. City staff also said the plan would improve coordination between Grayson County, its cities and the Texas Department of Transportation.

A resolution of support for the planned development of the former Sherman Independent School District administration building into apartments for low-income elderly clients will also be considered. The developer, Sari & Company, submitted an application of support for the project under the city’s low-income housing tax credit application process. Sari & Company is planning to renovate the building, which also formerly served as Sherman High School at 120 W. King St., into rent-capped apartments for individuals age 55 or older with incomes under a certain amount.

The council will also consider awarding a contract for the expansion of the Sherman Water Treatment Plant, which will double its daily capacity. The low bid for the work was $23.805 million submitted by MWH Constructors Inc. That bid, along with the cost of microfiltration components to be added to the plant, surpassed the planned funding for the project, so the city is planning to issue an additional $7.155 million in bonds to make up the difference.

A separate notice of the city’s intent to issue $18.95 million in certificates of obligation will also be considered by the council. State law requires the notice before the debt can be issued, but city staff expect to issue the certificates of obligation in March. That debt will provide funding for the next phase of Sherman’s development, including work on West Travis Street, Swan Ridge Drive, West Canyon Creek Drive and Lamberth Road.

The meeting is scheduled to start with a special presentation recognizing Sherman Library Services Administrator Jacqueline Banfield, who is planning to retire on Jan. 31. The council will also issue a proclamation naming Monday as “Dr. Martin Luther King, Jr. Day” in Sherman.

The council will also hold an executive session at the end of the meeting to allow it to consult with the city attorney on economic development negotiations. Following the closed session, the council will return to an open meeting to take any actions deemed necessary.