Colleyville studies Hwy. 26 options

"Here's where you get to define 'We're in a different place now,' " he said. "We don't need six-lane capacity today."

Added Marty Wieder, economic development director, "This is an opportunity to create a destination, a place where we're already going to have a magnet with Whole Foods right in the middle of where that corridor is going to be.

"Do we want a raceway or do we want a place where somebody says 'I want to come and stay here.' "

As it stands now, work on Hwy. 26 is moving into Colleyville from Grapevine.

The section from John McCain Road to Hall Johnson Road is funded with $13.65 million in federal and state money and is scheduled to go to bid in about a year.

The council is discussing shifting that money to reconstruction of Colleyville Boulevard from Hall Johnson Road to Brown Trail—through the city's commercial center.

The federal government and TxDOT need direction by Oct. 24, or the city runs the risk of delaying the whole project, possibly into 2015, staff members said.

If the project is shifted to run from Hall Johnson to Brown Trail, the segment from John McCain will not be funded.

The council also considered potential ways to fund any segments left unfunded.

Tarrant County has offered $1 million, and the city could issue a tax anticipation note of $3 million through its Tax Increment Finance district.

The council generally agreed on four lanes and asked staff to provide more information on the financing options and lengths for its Oct. 22 meeting.