Title
Presentation of the 2015 Capital Improvement Bond Committee recommendations in consideration of a proposed November 3, 2015 bond election.
Summary
The committee was appointed by City Council resolution on March 24, 2015 to assist the City Council in its efforts to plan for future capital improvements to facilitate the continued delivery of services to the City. The committee held six meetings between March 26 and May 27, and reviewed roads, drainage, facilities and buildings, as well as park and recreation needs. The committee elected a Chair, Melody Ryan, and a Vice Chair, Rodney Blackburn. Ms. Ryan will present the committee's recommendations.
Status
The committee completed its evaluation and recommends a total of $31,219,000 in proposed projects. The following amounts include bond issuance costs.
Roads: $20,167,000
Facilities: $9,052,000
Parks/Trails: $2,060,000
The prioritized roads include the following and totalling $20,167,000:
- E. Pflugerville Parkway: Construct the remaining 2 lanes from Colorado Sand to Weiss Lane to create the ultimate 4 lane roadway section. Estimated total $5.64 million.
- Immanuel Rd: Construct a 3 lane urban section roadway with storm sewer from Pecan St to Pigeon Forge Blvd. No bridge replacement included. Estimated total $2.678 million
- Old Austin-Hutto Road: Construction a 3 lane, elimination of the low water crossing and install street lights and sidewalks with curb and gutter. Design already in process, funding needed for construction. Preliminary Construction Estimate total $2.266 million.
- Weiss Lane: Construct an additional 2 lanes from Kelly Lane to E. Pecan Street completing 4 of the ultimate 6 lane roadway section. Estimated total $9.579 million.
Bond issuance costs that are included with the totals above are estimated at 3%, or $770,000.
The prioritized facility was the design and construction of a new animal shelter and adoption center. Three additional cost scenarios were evaluated in addition to the conceptual plan proposed by the architect. The committee recommends Concept B-1 at $9,052,000 which includes bond issuance costs.
The prioritized park and trail projects included the following and totalling $2,060,000:
- Parks $1,470,000
- Trails $590,000
The Park improvements include $410,000 for existing park improvements, $670,000 for undeveloped park improvements, $350,000 for the development of practice fields, and an estimated $40,000 in bond issuance costs.
The Trail improvements include $370,000 and $100,000 for the Gilleland and Springbrook trail improvements, $100,000 for the development of nature trails, and an estimated $20,000 in bond issuance costs.
Should a bond election be called, the dollar amounts associated with the referendum should be clearly communicated, thus the totals should be as follows:
Roads: $20.2 million
Facilities: $9.1 million
Parks/Trails: $2.1 million
Prior City Council Action
The Committee was appointed by the City Council on March 24, 2015 per Resolution 1438-15-03-24-0240.
Deadline for City Council Action
August 24, 2015 is the last day to order a general election or an election on a measure.
Projected Future City Council Action
August 11, 2015 is the final regularly scheduled City Council meeting prior to the deadline cited above.
Fiscal Impact
Debt in the form of general obligation (limited tax) bonds would be issued in the amounts provided above to fund these projects. The estimated average annual debt service payments for these project groups are:
Roads: $1,234,000 (3.43₵ on tax rate)
Facilities: $556,000 (1.55₵ on tax rate)
Parks/Trails: $122,000 (0.34₵ on tax rate)
All projects combined: $1,912,000 (5.32₵ on tax rate)
Projections are based on the total issuance of 30-year debt with an interest rate of 4.5%, callable after 10 years.
Staff Recommendation
Staff recommends a general obligation bond election for the design and construction of the a new animal shelter in the amount of $9,052,000 and the completion of the following roadway improvements:
- Expand funding necessary to complete Weiss Ln from E. Pecan Street to Cele Road for estimated cost of $9.579 million.
- Expand funding necessary to complete 4-lane section with medians on E. Pflugerville Parkway between Colorado Sand Drive and Weiss Lane for an estimated cost of $5.644 million.
- Expand funding necessary to complete 6-lane section with medians on E. Pecan Street between SH 130 and Weiss Lane for an estimated cost of $5.449 million. This cost does not include the widening of the bridge over SH130.
Drafter
Trey Fletcher
Assistant City Manager