[00:00:02]
ALL RIGHT, WE'RE GOING TO GO AHEAD AND GET STARTED TONIGHT FOR OUR WORKSHOP SESSION.
[CALL TO ORDER]
THE TIME IS 5:32 P.M..MYSELF. BRIANA CHACON IS PRESENT.
YES. MR. UNDERWOOD IS NOT HERE.
I APOLOGIZE. I WENT OUT OF ORDER.
IT'S DIFFERENT ON THE PAPER HERE.
THROW YOU ALL FOR A LOOP TONIGHT.
[WORK SESSION AGENDA]
ALL RIGHT. THAT'S GOING TO PUT US INTO OUR WORKSHOP SESSION AGENDA.WE WILL BEGIN WITH AGENDA ITEM 2020 3-002.
FUTURE PROJECTS FOR GENERAL OBLIGATION BOND 2023.
DISCUSSION AND POSSIBLE ACTION REGARDING THE BOND INFORMATION FOR FUTURE PARKS AND REC PROJECTS.
THANK YOU, MAYOR. COUNCIL, AS REQUESTED AT THE LAST MEETING, WE'RE BRINGING BACK THE PROJECTS FOR A GENERAL DISCUSSION AND INPUT FROM THE COUNCIL.
AS YOU REMEMBER, WE RAN LONG ON TIME LAST TIME.
SO BRITNEY WITH KIMLEY-HORN IS HERE AND SHE HAS THE SLIDE PRESENTATION.
AND WHAT WE INTEND TO DO IS, IS GO THROUGH SOME OF THESE SLIDES AND AND TRY TO COLLECT AS MUCH INFORMATION UP FRONT SO THAT WE CAN PUT THOSE INTO THE INTO THE PACKAGE.
THANK YOU. GOOD EVENING, MAYOR AND COUNCIL.
LIKE MR. BORG MENTIONED, I HAVE ALMOST THE SAME EXACT SLIDES FOR YOU HERE TONIGHT, WITH THE EXCEPTION OF TWO THAT I'VE ADDED TO THE PRESENTATION ON THIS SCREEN. WE HAVE A LITTLE MORE DETAIL ON THE GEORGIA, TEXAS LAND AND CATTLE PROPERTY.
AND THEN WITH THE DALE HURD LAMBERT MASTER PLAN, WE SAME THING.
WE'RE PROGRESSING THROUGH THE MASTER PLAN AND HAVE REFINED THAT A BIT.
STILL IN PROGRESS, STILL LIKELY TO BE TWEAKED AND CHANGED.
BUT JUST AN UPDATE FOR YOU ON THAT.
AND THEN, COUNCIL, I'LL LEAVE IT UP TO YOU.
I DON'T KNOW THE BEST WAY TO GO THROUGH THESE SLIDES.
IF YOU PREFER TO GO PROJECT BY PROJECT AND ASK QUESTIONS, PROVIDE INPUT, OR IF THERE'S ANY SPECIFIC ORDER THAT YOU WANT TO SEE THESE, LET'S JUST START WITH THE TOP AND ROLL DOWN.
AND THEN IF ANYONE HAS ANY INPUT OR QUESTIONS ON IT, WE CAN GO FROM THERE.
WONDERFUL. SO THIS ONE, LIKE WE TALKED ABOUT LAST TIME, THE PARKS AND REC RECREATION OFFICE AND MAINTENANCE FACILITY, LIKE WE TALKED ABOUT, THE PARKING LOTS ARE CURRENTLY UNDER CONSTRUCTION.
THIS IS SIMPLY FOR THE BUILDING AND TO ADD SOME ADDITIONAL PARKING AROUND IT.
IF YOU DON'T MIND, I'D LIKE TO ADD A LITTLE BIT OF INSIGHT TO THIS PROJECT, MAYOR, IS THAT PLEASE? YES. SO ULTIMATELY, THIS BUILDING WILL HOUSE, PARK AND REC AND MOST LIKELY EVENTS.
AS YOU MAY KNOW, OUR EVENT COORDINATOR AND OUR EVENTS DEPARTMENT HAS LIMITED SPACE WHEN IT COMES TO LAYING OUT A LOT OF STUFF FOR GETTING THEIR PROJECTS TOGETHER, PUTTING PACKAGES TOGETHER.
AND AND SO ULTIMATELY THEY'LL BE A PLACE IN THIS IN THIS BUILDING FOR FOR THOSE THOSE THINGS TO BE PACKAGED AND PUT TOGETHER, YOU KNOW, THE GIVEAWAYS AND ALL, ALL THAT STUFF THAT GOES ALONG WITH OUR EVENTS.
AND SO CURRENTLY THEY'RE HOUSED RIGHT HERE AT CITY HALL.
BUT THE LONG TERM PLAN IS FOR THAT TO TAKE EFFECT OVER THERE IN THIS NEW BUILDING.
AND JUST FOR CLARITY, ARE THEY JUST STORING THEIR STUFF OVER THERE, AN OFFICE IN HERE, OR WILL THEY BE OFFICES THERE AS WELL? NO, THEY'LL BE OFFICE IN THERE.
CURRENTLY. CURRENTLY, THEIR STORAGE IS IN A LEASED TRAILER, SORT OF A BUILDING BEHIND THE OLD PD.
AND THEY'RE KIND OF WORKING OUT OF THERE TEMPORARILY.
GENTLEMEN, AS YOU ALL HAVE ANY FEEDBACK OR QUESTIONS IN REGARDS TO THIS PROJECT.
OK, OUR NEXT ONE IS DALE HURD LAMBERT.
THIS FIRST EXHIBIT IS THE ONE THAT WE LOOKED AT LAST TIME.
[00:05:03]
SO I'M GOING TO SWITCH TO THE NEXT SLIDE, WHICH IS AN UPDATED EXHIBIT.SO THIS SHOWS THE FIVE FIELDS INSTEAD OF THIS SIX THAT WE SHOWED ON THE PREVIOUS SLIDE, WHICH IS MORE IN LINE OF WHAT WE HAD TALKED ABOUT WITH CHASE. HAVING THIS BE A TOURNAMENT LEVEL COMPLEX.
ANOTHER UPDATE TO THIS IS WE DID ADD LET'S SEE IF MY LASER IS GOING TO WORK.
SO YOU'LL SEE THAT THAT TOOK UP A LOT OF REAL ESTATE ON THE PARK.
AND WE DID HAVE TO SHIFT SOME THINGS UP THE FIELD ON THE BOTTOM LEFT SIDE.
THAT FIELD HAD TO BE CONDENSED A BIT.
INSTEAD OF IT BEING THE 275 FEET, IT'S REDUCED TO 250.
BUT THAT DOES STILL ALLOW FOR FOUR FULL SIZE FIELDS WITH THE FIELD ON THE VERY LEFT BEING THE CHAMPIONSHIP FIELD WITH ADDITIONAL BLEACHERS AND ADDITIONAL AMENITIES CLOSE BY.
SO WITH THAT, I'LL OPEN IT UP TO ANY DISCUSSION OR QUESTIONS.
ALL OF THESE ARE GOING TO BE TURF, CORRECT? THAT'S CORRECT.
ON THE PARKING LOT, I SEE ONLY TWO PARKING LOTS THERE.
HOW MANY CARS WILL THOSE ACCOMMODATE? WE HAVEN'T SPACE PLANNED IT ALL THE WAY YET, AND THERE IS A POTENTIAL THAT SOME OF THOSE FIELDS WILL HAVE TO SHRINK A LITTLE BIT MORE TO ACCOMMODATE FOR PARKING.
BUT THE STANDARD SAY THAT YOU HAVE TO HAVE 40 SPOTS PER FIELD.
HALF OF THOSE CAN BE OVERFLOW, BUT THAT'S NOT IDEAL.
SO WE'RE TRYING TO FIGURE OUT HOW WE CAN MAKE THAT WORK.
YEP. YEAH, WE'RE WE'RE LOOKING INTO IT.
OKAY. THANK YOU. YOU'RE WELCOME.
THE PLAYGROUND THAT'S THERE. IS THAT GOING TO BE COVERED? YES. SO THIS WHOLE WHAT WE'RE THINKING ABOUT FOR THIS FIELD IS YOU MIGHT HAVE NOTICED AT SOME OF THE OTHER PARKS THAT ARE SIMILAR, THE NETS THAT THEY HAVE IN THE AREAS WHERE PEOPLE ARE SITTING OR WALKING AROUND SO THAT IF A FOUL BALL IS HIT, IT'S NOT JUST GOING TO COME AND CLUNK, SOMEBODY'S ON THE HEAD.
ALSO, THOSE PLAYGROUNDS, THERE'S A POSSIBILITY THAT WE'LL HAVE SOME SHADE STRUCTURES ON TOP OF THAT, IF NOT RIGHT ON TOP OF THE PLAYGROUND OFF TO THE SIDE SO THAT PEOPLE CAN GET SOME RELIEF FROM THE HEAT.
ANYTHING ELSE, GENTLEMEN. AND IF YOU DON'T MIND, WE THESE FIELDS ARE CONSIDERED WILL BE CONSIDERED TO BE TURF ALL YEAR ROUND. OK.
OUR NEXT PARK IS THE BUILD OUT OF CALDWELL PARK.
SO LIKE WE TALKED ABOUT LAST TIME, THE AREAS IN RED ARE UNDER CONSTRUCTION.
THAT'S A PARKING LOT IN THE DETENTION PONDS.
THE NEXT PHASE IS UNDER DESIGN, BUT IT'S NOT UNDER CONSTRUCTION YET.
THAT INCLUDES THE THREE MULTI-USE FIELDS AND BLUE ADDITIONAL SHADE STRUCTURES AND RESTROOM BUILDINGS IN THE ENTRANCE FEATURE THAT'S GOING TO FEATURE THE OLD ELEVATED STORAGE TANK RELOCATED.
SO WHAT WE'RE LOOKING FOR FOR THIS PHASE, FOR THIS PHASE TWO OF THE BUILDOUT, ADDITIONAL PLAYING FIELDS, BRINGING IN THE FENCES OF THE EXISTING BASEBALL FIELDS TO ALLOW FOR A BERM AND AN ADDITIONAL FIRE LANE WITH PARKING AROUND THE BACK SIDE.
WE'LL ALSO HAVE SAND VOLLEYBALL, BASKETBALL COURTS, FOUR, TWO OF THOSE WHICH WILL BE COVERED BY SHADE STRUCTURES AND SOME ADDITIONAL TRAIL CONNECTIONS.
BUT THE THE BASEBALL FIELDS ARE GOING TO BE REDONE TO TURF RIGHT.
CHASE, DO YOU WANT TO SPEAK TO THAT? SO MOVING TO ARTIFICIAL TURF, IF WE WERE LOOKING AT ANYTHING WITHIN THIS PROJECT, IT WOULD BE JUST THE INFIELDS.
[00:10:01]
THEY JUST COME IN AND LAY ARTIFICIAL TURF ON THE INFIELD BECAUSE THAT'S WHAT'S THE MOST IMPORTANT PLAY SERVICE.SO IF YOU'RE STARTING FROM SCRATCH, IT'S ONE THING, BUT WE HAVE THE FIELDS ALREADY ESTABLISHED SO YOU CAN STILL PLAY AS LONG AS IT'S NOT RAINING, RIGHT? WELL, HERE IT'S NOT IN THE PROJECT SCOPE, BUT IT'S SOMETHING THAT WOULD BE LOOKED AT AS A POSSIBILITY TO ADD AT SOME POINT, WHETHER WE MAKE IT A SEPARATE PROJECT OR WHETHER WE MOVE FORWARD WITH SEEING WHAT THAT COST WOULD BE ON THIS PROJECT.
I'D LIKE TO DO THAT. I'D LIKE TO SEE WHAT THAT COST WOULD BE FOR THAT.
I THINK THAT REALLY ALLEVIATES A LOT OF PROBLEMS. I MEAN, YOU CAN USE THOSE FACILITIES IN THOSE FIELDS MORE OFTEN IF YOU CAN ACTUALLY PLAY ON THEM VERSUS THE SATURATED WITH THE RAIN, BUT ALSO MAINTENANCE WISE, WOULDN'T THAT BE EASIER FOR YOUR GUYS THAT THEY WOULDN'T HAVE TO BE MAINTAINING THOSE FIELDS AS OFTEN? THAT'S CORRECT. SO ONE OF THE YOU'RE ROUGHLY PER FIELD, YOU'RE LOOKING AT AROUND 12 TO $15000 ANNUAL OUT OF THE ANNUAL BUDGET JUST FOR SAND TURF MAINTENANCE, SO FORTH ON THE INFIELD DIRECTLY.
THAT DOES NOT INCLUDE PERSONNEL FOR MAINTENANCE.
THAT MAINTENANCE FREE WHENEVER YOU HAVE FULL ARTIFICIAL.
WHEN I SAY MAINTENANCE FREE, IT'S DOWN, IT'S SO FORTH.
WHAT I WOULD ALSO LIKE TO BRING TO THE BOARD ONCE THESE FIELDS ARE ONE, I SAY 100% TURF ONCE THE INFIELDS IS ARE TURF, REGARDLESS OF GRASS IN THE OUTFIELD, YOU NOW OPEN YOURSELVES UP FOR LARGER EVENTS BECAUSE YOU HAVE TWO LOCATIONS THAT TEAMS CAN GUARANTEE TO BE PLAYED AT YOUR CITY.
SO WE'RE NOT LOOKING, WE'RE NOT WORRIED ABOUT RAIN OUTS.
EVEN IF THE OUTFIELD IS WERE SOMEWHAT WET, TEAMS STILL PLAY, TEAMS PLAY IN THE RAIN RIGHT NOW.
YES. SO WE WILL HAVE PERRY WEATHER SYSTEM IN ALL PARKS AS EVEN ON NORTHEAST, SOUTHWEST, WHATEVER, COMMUNITY PARKS AND SO FORTH THAT WE HAVE.
WE WILL HAVE THE PERRY WEATHER SYSTEM AT ALL LOCATIONS AND THEY ALL CONNECT.
THAT'S ALL GOING TO BE INCLUDED IN THIS.
IT WOULD BE I MEAN, THERE IS A SEPARATE COST FOR THE SYSTEM ITSELF.
THOSE COSTS ARE THEY'RE NOT A GREAT EXPENSE.
WHENEVER WE'RE, BRITNEY CAN ATTEST TO THIS.
YEAH. AND I'D LIKE TO JUST MENTION WHEN WE PUT TOGETHER THESE REALLY PRELIMINARY COST ESTIMATES THAT YOU HAVE AT THE BACK OF THE PACKET, THOSE INCLUDED A HEFTY CONTINGENCY, SOME EVEN MORE THAN THE TYPICAL 20% CONTINGENCY THAT WE WOULD SEE JUST BECAUSE OF THE MATERIAL COSTS, UNCERTAINTY AND ALSO THINGS LIKE THAT.
SINCE IT HASN'T BEEN DESIGNED.
PERFECT. ANYTHING ELSE ON THIS ONE? I THINK WE'RE GOING TO MOVE ON. GREAT.
THANK YOU. OK JJ BOOK IS THE NEXT ONE.
PHASE ONE, LIKE WE TALKED ABOUT UNDER CONSTRUCTION, IT'S THE AMENITY POND, THE PARKING, THE UTILITIES, ONE OF THE RESTROOM STRUCTURES AND TWO PAVILIONS ARE GOING IN AS PART OF PHASE ONE. PHASE TWO AND THREE INCLUDE A SKATE PARK, SPLASH PAD, PLAYGROUND, THE BUILDING, THE RESTROOM, BUILDING ON THE NORTH SIDE.
SINCE IT'S BY THE SKATE PARK AND THE SPLASH PAD, ADDITIONAL PARKING AND LANDSCAPE IMPROVEMENTS.
OKAY. ANY QUESTIONS? NOPE. OKAY, GREAT.
NEXT PARK IS CAULDWELL PARK SOUTH.
THESE ARE THE THREE MULTI-USE FIELDS THAT I MENTIONED LAST TIME.
THERE IS. THERE ARE PLANS FOR AN ENCORE TRANSMISSION LINE TO COME THROUGH THIS PARK.
WE DON'T HAVE THE EXACT LOCATIONS OF WHERE THE POLES AND THE TOWERS ARE GOING TO BE LOCATED.
THIS PROJECT ALSO INCLUDES PARKING, A RESTROOM STRUCTURE, LIKELY A SHADE SALE AS WELL.
[00:15:05]
WE ARE LIMITED BY THE FACT THAT THIS PROPERTY IS ALMOST ENTIRELY IN FLOODPLAIN, SO YOU CANNOT HAVE ANY VERTICAL STRUCTURES WITHIN THE FLOODPLAIN.SO YOU'LL SEE THE RESTROOM STRUCTURE IS ON THE TOP LEFT CORNER, THE PIECE OF PROPERTY.
SO THAT'S WHY I SAID WE MIGHT BE ABLE TO FIT A SHADE STRUCTURE MIGHT NOT JUST DEPENDS WHEN WE GET INTO DETAILED DESIGN AND THERE IS A TRAIL CONNECTION AND A PEDESTRIAN BRIDGE PLANNED TO CONNECT THIS TRAIL SYSTEM OVER TO THE FOREST PARK SUBDIVISION, WHICH IS DIRECTLY TO THE LEFT.
OKAY. ANY QUESTIONS? I HAVE A QUESTION. JUST IS IS THE INTENT TO INCLUDE IN THIS IN THE BUDGET OR IS IT IN THE BUDGET FOR THIS PARTICULAR PROJECT? THE IMPROVEMENT OF COLLEGE STREET AND THE BRIDGE COMPONENT IS THAT IN THIS IT IS NOT INCLUDED IN THIS, BUT THAT WOULD BE SOMETHING THAT WE COULD DEFINITELY INCLUDE. OKAY.
I THINK IT'D BE IMPORTANT THING.
OKAY. I'LL MAKE A NOTE OF THAT.
OKAY. ANYTHING ELSE? OKAY. THE NEXT ITEM THAT YOU HAVE ON YOUR BUDGET IS THE PEDESTRIAN TRAILS AND TRAIL CONNECTIONS.
THE FIRST, I'M ACTUALLY GOING TO GO TO THE NEXT PAGE.
GOING BACK TO THE PAGE BEFORE THAT, THE SECOND ONE IS FOREST PARK TO TIKKI DRIVE.
SO IF YOU LOOK AT THE BOTTOM OF YOUR SCREEN, THAT MAKES THE CONNECTION FROM THE TIKKI DRIVE UNDERPASS UNDERNEATH 380 UNDERNEATH TO WHERE THE TO THE SOUTH END OF THE FOREST PARK SUBDIVISION TO THEIR TRAIL AND HOA OPEN SPACE TO WHERE THAT CAN CONTINUE UP ALONG TO GHEE CREEK. AND THEN THE THIRD PROJECT IS A PEDESTRIAN BRIDGE AND A TRAIL CONNECTION ACROSS TURKEY CREEK ON MONTE CARLO. AND THE GOAL THERE IS TO GET PEOPLE FROM SOUTHERN MIDDLE SCHOOL ACROSS THE CREEK OVER TO LONG NECK AND FM 75.
I LOVE THE IDEA OF THE CONNECTIVITY.
I DO HAVE CONCERNS, THOUGH, ABOUT THE BROOKSIDE GOING UNDER 380 THAT CONNECTIVITY.
HOW DOES THAT WORK IN CONJUNCTION WITH TEXT DOT EXPANDING 380.
SO IT WOULD JUST BE IT WILL COORDINATE WITH THEM.
OF COURSE, IT WOULD ALL HAVE TO BE PERMITTED.
I DON'T KNOW IF EITHER OF YOU GUYS WANT TO WEIGH IN ON THAT.
IT'S JUST LIKE IF YOU WERE TO MAKE A A WATERLINE SEWER LINE UNDERNEATH.
384. VERY SIMILAR DRIVEWAY CUT.
THE BIGGER PROCESS IS THE PROJECT.
RIGHT. I'M JUST THINKING IF WE'RE SPENDING THAT AMOUNT OF MONEY TO LITERALLY, CORRECT ME IF I'M WRONG, WE ARE TUNNELING PEOPLE UNDER 380 CORRECT, FOR THIS CONNECTIVITY? WE'LL HAVE TO LOOK AT THE TOPO.
WE'RE GOING TO PICK A SPOT THAT MAKES SENSE.
WE AREN'T JUST GOING TO GO UNDER ANY OLD PORTION WHERE WE TRULY ARE DIGGING.
SO THAT THAT'S JUST KIND OF MY CONCERN ON THAT.
SURE. I DON'T ANTICIPATE THEM PUSHING BACK ON THIS, BUT IF THEY DO THAT MONEY.
MAYOR, IF I CAN ELABORATE A LITTLE BIT, BRITNEY AND HER TEAM HAVE THIS LOCATED KIND OF IN THE IN THE LOCATION SO I CAN LOOK IT IN THE LOCATION WHERE THE EXISTING BRIDGE IS.
SO IF IT WORKS, OKAY, WHEN THEY GET INTO DETAILED DESIGN, IT MAY NOT RESULT IN LARGE INFRASTRUCTURE ACROSS COST BECAUSE THEY MAY BE ABLE TO JUST PUT A SIDEWALK DOWN TO THERE UNDERNEATH THE BRIDGE.
BUT THEY'LL HAVE TO LOOK AT THOSE THINGS WHENEVER IT GETS TO.
YEAH, BUT MR. BORG JUST SAID, WE'RE TALKING ABOUT THE TIKI CREEK BRIDGE.
[00:20:01]
KIND OF MAKE IT A RIVER WALK.YES. LIKE A LOW WATER CROSSING OR SOMETHING LIKE THAT.
OKAY. DO WE HAVE ANY UPDATE FROM TEXT.
ON THAT EXPANSION OF 380? HAVE THEY PUSHED IT BACK TO 2025? BRITTANY CAN HELP ME WITH THIS TOO, BECAUSE WE'VE HAD A LOT OF DISCUSSIONS ABOUT THIS RECENTLY.
THEY'RE GOING THROUGH THE THROUGH THE PROCESS OF CLEARING EXISTING UTILITIES.
AND THEN THEY WILL BE AT THE POINT TO WHERE THEY'LL BE ABLE TO LET IT FOR CONSTRUCTION.
THE ALL CLEAR DATE IS SET FOR MARCH OF NEXT YEAR.
WHAT WE'RE HEARING IS THAT THAT MAY SLIDE.
SO THAT WOULD PUSH US BACK INTO THE 2024, 2025 TIME FRAME.
OKAY. THANK YOU. YOU'RE WELCOME.
ANY OTHER QUESTIONS? OK. OKAY.
THE NEXT SLIDE IS FOR THE PROPOSED RECREATION CENTER.
SO OF COURSE, THIS WOULD HAVE TO BE SPACE PLANNED BY AN ARCHITECT WHEN WE MOVE FORWARD WITH DESIGN.
THE SECOND SLIDE SHOWS THE 25,000 SQUARE FOOT BUILDING THAT WAS RECOMMENDED IN THE MASTER PLAN IS SHOWN ON THE THE PROPOSED PIECE OF PROPERTY WITH SOME PARKING WRAPPED AROUND.
I THINK WE'RE AT 126 SPACES AND YOU CAN CLEARLY SEE THERE'S ADDITIONAL ROOM ON THE PIECE OF PROPERTY IF ADDITIONAL AMENITIES WANTED TO GO THERE AS WELL.
SO FOR THIS ONE, IF YOU'LL BACK UP TO YOUR PREVIOUS SLIDE.
SNOW YOU SAID YOU PUT IN HERE JUST THE FEEDBACK FROM THE COMMUNITY OVER WHAT WAS WANTED.
I THINK THAT'S GOING TO BE EXTREMELY IMPORTANT FOR OUR SENIOR COMMUNITY.
THAT'S A HUGE FORM OF EXERCISE THAT THEY'RE ABLE TO GET.
I WOULD STILL LIKE TO SEE A CONCEPT THAT WOULD INCLUDE THAT, AND IF WE NEED TO GO VERTICAL, WE CAN GO VERTICAL JUST SO THAT WE WE ONLY HAVE A LIMITED AMOUNT OF SPACE HORIZONTALLY ON THIS PROJECT.
BUT WHAT DOES THAT ACTUALLY BREAK DOWN TO PER CITIZEN IF WE HAVE TO ADDRESS THAT, WHAT DOES THAT ACTUALLY LOOK LIKE TO ADD THAT COMPONENT IN? BECAUSE I DO THINK THAT IS SOMETHING THAT OUR COMMUNITY HAS EXPRESSLY SAID THEY WANTED NUMEROUS TIMES.
ANY OTHER FEEDBACK, GENTLEMEN? OKAY, GREAT. I'VE MADE THAT NOTE THAT WE'LL LOOK INTO THAT FOR YOU GUYS.
OKAY. THE NEXT SLIDE IS GEORGIA TEXAS LAND AND CATTLE.
THIS IS WHAT YOU LOOKED AT LAST TIME.
SO IF I GO TO THE NEXT SLIDE AND WE DO HAVE HARD COPIES, IF YOU'RE INTERESTED IN TAKING THOSE WITH YOU, BUT THIS SHOWS AN INITIAL CONCEPT OF THE PROGRAMING THAT COULD GO INTO THIS PARK.
YOU'LL SEE DISC GOLF, YOU'LL SEE TWO MULTI USE FIELDS.
WE'VE ALREADY TALKED WITH CHASE AND WE'RE GOING TO LOOK AND SEE IF WE CAN FIT ONE MORE IN.
IF WE SHIFT SOME OF THE PARKING AND SOME OF THE TRAILS AND OVERLOOK A BIT IN THE NORTHEAST CORNER.
SOME DRIVEWAYS, TRAIL CONNECTIONS, PICKLEBALL COURTS, TENNIS COURTS, AN AMPHITHEATER IS ON THE SOUTH PIECE OF THE PROPERTY AND A DOG PARK AS WELL.
SO HAPPY TO ANSWER ANY QUESTIONS.
AND STEPHANIE, I KNOW YOU'RE BACK THERE.
THIS MIGHT BE SOMETHING THAT YOU COULD ANSWER LONG TERM.
IS THIS A PLACE WHERE WE'RE THINKING OF HOLDING EVENTS THAT THAT WE'RE POTENTIALLY MOVING TO? ANYBODY EITHER OR.
SO MY OPINION WOULD BE, YES, SIR.
[00:25:05]
THAT TYPE OF THING. SO WE HAVE SOME THINGS TO CONSIDER THERE.BUT BUT ABSOLUTELY, THIS IS A FINE PLACE FOR THAT.
OKAY. SO IF WE ARE LOOKING AT MOVING EVENTS THERE AND UTILIZING THIS SPACE, WHAT DOES THE PARKING LOOK LIKE ON THIS? I MEAN, I SEE THE AREAS, BUT WHAT'S THE ESTIMATED AMOUNT THAT THAT WOULD HOLD? WE DO NOT HAVE THAT NUMBER YET.
WE'RE STILL WORKING THROUGH THAT.
THIS IS A IT'S A BUBBLE DIAGRAM AT BEST.
SO WE'RE STILL WORKING THROUGH THAT.
ONE OTHER NOTE ON THE AMPITHEATER.
SO IT REALLY IS A GOOD LOCATION FOR THAT.
SO JUST TO MAKE SURE THAT THAT'S ADDRESSED ON THE FRONT END.
AND THEN WE HAVE VETERANS MEMORIAL PARK.
AGAIN, THIS IS MORE OF A PASSIVE REFLECTIVE PARK.
IT DOES INCLUDE A LARGE MEMORIAL WALL WHERE PEOPLE CAN PURCHASE A BRICK AND THEY CAN HAVE THEIR LOVED ONES NAMES ENGRAVED INTO THE BRICK.
BUT ALL IN ALL, VERY REFLECTIVE, PASSIVE PARK.
ALSO THE I'M ON A COMMITTEE FOR THE GOLDSTAR FAMILY MEMORIAL THAT WILL PROBABLY BE PLACED HERE.
SO I DON'T KNOW IF YOU ALL HAVE INCLUDED THAT IN YOUR PLANS, YOUR THOUGHT ABOUT IT, I GUESS.
WE ARE GOING TO SHOW A LOCATION IN FRONT OF THE NEW VFW BUILDING.
YOU'RE WELCOME. AND I JUST WANT TO MAKE SURE I'M LOOKING AT THIS CORRECTLY.
SO YOU'RE ADDING IN THE ADDITIONAL PARKING ON THE SPOT.
IT LOOKS LIKE THERE'S 30 ADDITIONAL SPOTS THERE.
BUT WHEN WE GO IN AND TAKE CARE OF WOODY OR WE NOT ADDING ANY PARKING SPOTS ALONG WOODY.
WE AREN'T. BUT IT IS IT'S A FULL 31 FOOT BACK TO BACK.
ROADWAY SO IT'S JUST LIKE ANY OF THE RESIDENTIAL ROADWAYS SO NO STRIPING.
I WILL ALSO NOTE THAT IN THE ON THE CONSENT AGENDA TODAY, THERE'S AN AMENDMENT TO ADD ADDITIONAL PARKING AT THE INTERSECTION OF MCKINNEY AND FOURTH STREET.
SO WHILE NOT DIRECTLY ADJACENT TO THIS PIECE OF PROPERTY, IT IS GOING TO PROVIDE ADDITIONAL PARKING FOR DOWNTOWN AND IT IS GOING TO BE PART OF THAT CONSTRUCTION PLAN SET FOR VETERANS MEMORIAL.
ALL RIGHTY. THIS IS YOUR LIST OF BOND PROJECTS.
AND WE HAVE NOT ADJUSTED ANY OF THE COSTS THAT YOU SAW FROM THE LAST MEETING.
WE WERE WAITING ON SOME. THIS INPUT WAS WONDERFUL.
THAT WILL HELP US TWEAK THESE NUMBERS AS WE CONTINUE TO MOVE FORWARD.
SO THESE ARE THE EXACT SAME NUMBERS THAT WE TALKED ABOUT THE LAST TIME.
ONE THING THAT MR. BORG WANTED ME TO MENTION, A PROJECT THAT'S NOT LISTED HERE IS A LIBRARY EXPANSION, AND HE MIGHT WANT TO EXPAND ON IT A BIT MORE. BUT THAT IS ANOTHER THING THAT WOULD BE UP FOR YOUR CONSIDERATION IS TO EXPAND THE LIBRARY.
YEAH, I CAN JUST ELABORATE ON THIS.
AND WE ALSO HAVE THE LIBRARY DIRECTOR HERE IF YOU HAVE ANY QUESTIONS.
HOWEVER, THEY'VE DONE JUST A FABULOUS JOB OF PROMOTING IT.
AND NOW THEY FILL UP PRETTY QUICK.
AND IT'S IT'S IT COULD USE SOME SPACE.
THERE IS SOME ADJACENT PROPERTY THAT WE COULD TAKE A LOOK AT FOR EXPANSION.
AND WE'VE KIND OF TALKED ABOUT THAT INTERNALLY.
SO WE'RE GOING TO THE INTENT IS TO TALK A LITTLE BIT MORE ABOUT THAT WITH OUR ENGINEERING TEAM AND RETRIEVE SOME NUMBERS FROM SOME OF THE PROJECTS THAT WE ARE CURRENTLY BUILDING.
OF COURSE, IT'S NOT A FIRE STATION THAT THOSE COSTS A LITTLE MORE MONEY.
WE THINK IT'S IMPORTANT AT THIS JUNCTURE, SO WE'D ALSO LIKE YOUR FEEDBACK ON THAT SUBJECT.
[00:30:09]
I THINK IT'S A GREAT IDEA.THE LIBRARY SERVES OUR COMMUNITY VERY WELL.
AND SO THE PRIORITY LIST IS GOING TO KIND OF DICTATE HOW WE WHAT DIRECTION WE MOVE IN.
I WOULD LIKE TO SEE THE REC CENTER BUMPED UP A LITTLE BIT ON THE LIST.
THAT'S NOT TO SAY THAT THE OTHER PROJECTS AREN'T AS IMPORTANT.
THEY ARE. I THINK THEY'RE ALL EQUALLY IMPORTANT.
HOWEVER, WE ALREADY HAVE A LOT OF THESE.
YOU KNOW, THE CALDWELL PARK SOUTH IS A GOOD PROJECT, BUT ALTHOUGH BEING IN A FLOODPLAIN IS NOT GOING TO TAKE THAT MUCH TO DO, IT PROBABLY NEEDS TO GO DOWN A LITTLE BIT LOWER ON THAT, EXCEPT FOR THE THE CONSTRUCTION OR THE HELP ON THE COLLEGE STREET.
BUT THE REC CENTER NEEDS TO DEFINITELY BE MOVED UP.
I AGREE. CHASE, DID YOU HAVE ANY AS FAR AS THE PRIORITY IS THAT.
WAS THERE ANYTHING IN PARTICULAR THAT YOU FEEL IS EXCUSE ME, THAT NEEDS TO BE MOVED UP OR JUST FROM YOU AND YOUR TEAM AND? SO THIS WAS THE PRIORITY LIST THAT I FELT WAS MOST NEEDED FROM WHAT OUR CURRENT NEEDS ARE FROM A RECREATION YOUTH STANDPOINT.
NOW, AS FAR AS THE REC CENTER, YOU KNOW, THAT IS A PEOPLE CHOICE, RIGHT? SO BUT FROM A RECREATION DEPARTMENT, FIELD SPACE IS WHAT MY MOST DIRE NEEDS ARE, RIGHT? SO THAT WAS THE REASON CALDWELL PARK SOUTH IS HIGHER RANKED ON THAT LIST BECAUSE IT DOES GIVE THREE, TWO OR THREE ADDITIONAL FIELD SPACE AVAILABLE. HOWEVER, WAYS TO COMPENSATE FOR ADDITIONAL FIELDS WITHOUT BUILDING ADDITIONAL FIELDS ARE ACTUALLY GOING TO ALL PURPOSE AS IN ARTIFICIAL.
SO YOU CAN IT IS A LITTLE MORE COSTLY ON THE FRONT END, BUT YOU ACTUALLY GAIN MORE USAGE OUT OF A FIELD VERSUS HAVING TO BUILD ADDITIONAL FACILITIES SUCH AS CALDWELL PARK SOUTH.
WELL, IF OTHER FIELDS I WILL USE ON THE BUILDOUT, LET'S JUST SAY THE MULTIPURPOSE FIELDS OR FUTURE EXPANSIONS WERE ARTIFICIAL TURF.
MULTI-USE FIELDS ARE MY NUMBER ONE HIGHEST NEED, HAVING THE ALL PURPOSE FIELDS.
AND THEN WE COULD GET MORE USE OUT OF THEM AND SAVES US MONEY IN THE LONG TERM.
IS THAT WHAT YOU'RE SAYING? YES.
AND AS MR. BORG MENTIONED TO TALKS THROUGH COLLEGE, THE COMPLETION OF COLLEGE STREET WOULD BE INCORPORATED WITH WHETHER IT WAS CALLED THE BUILD OUT OF COMMUNITY PARK OR EVEN COLLEGE PARK SOUTH.
I THINK THAT'S A KEY COMPONENT.
AS HE MENTIONED, I THINK THAT IS A KEY COMPONENT IN THIS WHOLE JUNCTURE BASED ON THAT COMPLETES THE ACCESS FOR BOTH ENDS ON WHERE YOU'RE COMING IN ON. BEECHAM WE'RE COMING IN ON FM 75.
DO YOU HAVE ANY TYPE OF ESTIMATED COST ON THAT? NOT REALLY, BUT I'M GOING TO SAY THAT DEPENDING ON THE SPACE PLANNING.
[00:35:03]
IT'S REALLY IT'S IT'S GOING TO BE MOSTLY OPEN SPACE WITH FURNITURE AND SHELVING, PROBABLY MAYBE SOME ADDITIONAL COMPUTER SPACE.BUT I THINK I THINK WE'RE PROBABLY GOING TO BE IN THE NEIGHBORHOOD OF 4 TO $500 A FOOT FOR FOR THAT.
AND SO WE'RE PROBABLY LOOKING, YOU KNOW, MAYBE MAYBE $4 MILLION ON THAT PROJECT.
QUITE POSSIBLY. HAS THERE BEEN ANY CONSIDERATION OF MAINTAINING THE PROPERTY THAT WE ALREADY HAVE AND GOING VERTICAL WITH THAT VERSUS BUYING NEW PROPERTY? I DON'T I DON'T THINK WE HAVE RESEARCHED THAT AT ALL.
I DON'T THINK WE'VE TALKED TOO MUCH ABOUT THAT STRUCTURE IN THE PAST.
BUT THAT STRUCTURE IS THE FOUNDATION FOR THAT.
IT'S REALLY LENDS ITSELF TO A SINGLE, SINGLE STORY.
SO I THINK REVAMPING THAT TO A MULTI STORY WOULD PROBABLY BE INEFFICIENT.
I THINK AT BEST, MOST LIKELY WE IF WE WENT UP, I THINK THAT WOULD BE MORE EFFICIENT TO DO ON ANOTHER ON AN ADJACENT PROPERTY.
THAT WAY WE COULD START FROM THE GROUND UP.
IT'S NOT OUT OF THE QUESTION THOUGH.
AND FOR THE ADJACENT PROPERTY, ARE YOU TALKING ABOUT THAT BIG OPEN PARKING LOT THAT'S RIGHT NEXT TO IT? WELL, THE PARKING LOT AND THERE'S A THERE'S A STRUCTURE THAT WE USED TO UTILIZE YEARS AGO FOR THE AMBULANCES.
AND SO THAT MAY BE AVAILABLE AT SOME POINT FOR PURCHASE.
AND WE'D LIKE TO LOOK INTO THAT AND SEE WHAT THAT MIGHT ENTAIL.
BUT WE CERTAINLY WOULD WILL REFINE THAT AND COME BACK TO THE BOARD AS WE AS WE MODEL THIS WHOLE BOND PROJECT THAT WILL BE PART OF IT, AND WE'LL MAKE SURE THAT'S INCLUDED IN ANY OF THE PUBLIC COMMENTS.
OKAY. NOW, I JUST WANTED KIND OF A ROUGH ESTIMATE.
IF WE'RE ADDING THAT ON TO THE TOTAL.
SO I'M JUST TRYING TO MAKE SURE WE STAY UNDER THAT CAP THAT MR. SABONIS HAD TALKED ABOUT LAST TIME.
SO. ANYTHING ELSE, GENTLEMEN? I WAS JUST GOING TO SAY IS AS FAR AS THE PRIORITY LIST, I MEAN, I UNDERSTAND THE NEED FOR FIELD SPACE.
JUST BECAUSE I'VE SEEN THAT FIRST HAND, RIGHT.
RIGHT. REALLY, I THINK CALDWELL I MEAN, I DON'T KNOW.
RIGHT, JUST BECAUSE THAT'S OUR, THAT'S OUR PRIMARY PARK THAT WE HAVE RIGHT NOW.
SO JUST TO SEE THAT COMPLETED, I THINK WILL HELP OUT A GREAT DEAL JUST WITH EVERYTHING.
WHAT'S OUR ACTION HERE? ALL RIGHT. THANK YOU. THAT'S PROBABLY IT FOR INPUT FROM US.
UNLESS YOU GUYS HAD ANYTHING ELSE IN ADDITION.
SORT OF THE OTHER SIDE OF THE COIN.
IF YOU HAD TO PICK FROM ONE TO 3 TO 4 ABOVE THE ABOVE THE THE TWO.
WHICH ONE WOULD YOU PUSH DOWN? ONE, THREE, FOUR. WOULD I PUSH DOWN? YEAH. BECAUSE IF WE'RE MOVING SOMETHING UP, WHAT WHAT PRIORITY WOULD YOU GIVE? ONE, TWO, THREE, FOUR.
PUSH DOWN FOUR. [INAUDIBLE] IT'LL GIVE US A BETTER IDEA OF HOW TO REORGANIZE THESE. THANK YOU.
MR. DEFFIBAUGH, DID YOU WANT TO WEIGH IN ON THAT? I MEAN, UH, JJ BOOKED.
I MEAN, THEY'RE ALREADY DOING A LOT OF WORK OUT THERE RIGHT NOW, SO I DON'T KNOW IF I WOULD MOVE IT, BUT THE JM CALDWELL SENIOR PARK, BECAUSE IT DOES HAVE SOME MULTI USE FIELDS MORE IN THERE, I'D MOVE IT UP AND TAKE THE DALE HURD LAMBERT PARK AND MOVE IT DOWN.
I MEAN, IF IT'S ME, YOU KNOW, IN THE TRAILS WITH PEDESTRIAN BRIDGES IS GREAT.
BUT WE ALSO TALK ABOUT TXDOT AND DEALING WITH THAT.
SO THAT WOULD PROBABLY MOVE DOWN.
I'D MOVE THE RECREATION CENTER UP AND AND DALE LAMBERT DOWN TO THE NUMBER SIX AND REC CENTER UP TO NUMBER, I'D SAY NUMBER FOUR.
[00:40:06]
YEAH, I AGREE ON THE TRAILS IN THE PEDESTRIAN BRIDGE.TO ME, I THINK WE COULD PUSH THAT ACTUALLY TO THE BOTTOM.
I CAN SEE THE OTHER PROJECTS BEING A LITTLE MORE IMPACTFUL.
I'D PUT THE TRAILS DOWN TO THE LAST.
THAT'S MY OPINION, THOUGH THAT MAY NOT BE SHARED WITH EVERYONE.
I AGREE WITH PUSHING THE TRAILS DOWN AS WELL AS JJ BOOK.
BUT I DO FEEL JUST WITH THE EXPLANATION THAT YOU GAVE WITH DALE LAMBERT AND THE POTENTIAL OF THAT THAT WILL HAVE FOR THE CITY, I THINK THAT THEY SHOULD STAY PUT AT THAT PRIORITY SPOT.
BUT I DO THINK FEEL THAT THE RECREATION CENTER SHOULD KIND OF FALL IN LINE WITH THOSE TOP FOUR.
MOVING DOWN TO J BOOK AS WELL AS THE TRAILS, I THINK THOSE CAN MOVE DOWN.
AND WHERE WE GET TO GET AN UPDATE ON THIS FROM MR. SABONIS OR NO? YES, WE'RE READY WHENEVER YOU WANT.
AND WHILE THAT'S BEING PULLED UP, I DON'T KNOW IF THERE WAS ABLE TO GIVE YOU HANDOUTS.
IT'S A VERY CONSERVATIVE ANALYSIS LOOKING AT FUNDING A $77 MILLION PROGRAM OVER THREE YEARS.
IF YOU TURN TO THE NEXT PAGE, PLEASE.
WE BELIEVE THAT 77 MILLION BE WELL ACCEPTED COMPETITIVE BIDS FOR THESE TYPE TRANSACTIONS.
WE DON'T USE INTEREST EARNINGS ON THE PROJECT FUND.
WE'VE BEEN VERY CONSERVATIVE WITH EXPECTING INTEREST RATES TO CONTINUE TO GO UP SIGNIFICANTLY.
WE DIDN'T WORK ON ANY RESTRUCTURING OF THE EXISTING DEBT.
THAT'S A GREAT THING, BUT IT'S AN ISSUE WE HAVE TO DEAL WITH WHEN WE STRUCTURE THE DEBT.
SO WE KIND OF BACK A LITTLE THINGS AND WORRY AND THEN CAN RESTRUCTURE THEM THERE.
SO THIS IS THIS IS A VERY CONSERVATIVE SCENARIO.
IT WAS JUST WE JUST SAID THAT THREE YEAR PROGRAM.
THE FACT OF THE MATTER IS THERE'S GOING TO BE A NATURAL GROUPING OF PROJECTS THAT YOU WANT TO FUND.
I DOUBT THAT YOU'LL FIND ALL 77 IN ONE YEAR AT THE SAME TIME.
WHAT OUR VALUES HAVE BEEN AND HOW OUR FINANCIAL CONDITION IS, IS IS OVERALL.
SO PHASING A PROGRAM, THIS IS, FOR EXAMPLE.
AND AS YOU MOVE FORWARD AND CONTINUE TO PRIORITIZE.
THINK ABOUT WHAT MIGHT BE THE APPROPRIATE PHASING OF PROJECTS.
WE'VE ISSUED 25 YEAR BONDS HERE, A TAX IN BONDS, AND THEN 25 YEARS, VERY COMMON FOR PARK PROGRAMS. THESE ARE GOING TO BE HERE FOR MUCH LONGER THAN 25 YEARS.
AND WE'VE PUT THEM IN PLACE ON A 25 YEAR BASIS.
WE'VE DONE THOSE PROGRAMS NOVEMBER, BE THE ELECTION.
AND THE FIRST TIME THAT WE COULD GO OUT FOR THE FIRST PHASE WOULD BE FEBRUARY OF 24.
THE WAY WE'VE SET THIS IS THAT EVERY YEAR IN FEBRUARY WE'D ACTUALLY HAVE A FUNDING.
WE SPLIT IT UP PRETTY EVENLY TO GIVE YOU A FEEL.
[00:45:07]
YEAR AFTER THAT, AND 100 BASIS POINTS FOR THE THIRD YEAR, WHICH IS VERY CONSERVATIVE.THE OVERALL TO FUND $77 MILLION OF PROJECTS WOULD TAKE ABOUT $78 MILLION OF BOND AUTHORITY.
WE HAVE TO PAY FINANCING COSTS AND UNDERWRITERS DISCOUNT.
BASED ON THESE ASSUMPTIONS, AN AVERAGE OF ABOUT $5 MILLION A YEAR.
NOW, HERE'S THE KEY THING, AND IT REALLY GETS DOWN TO THIS.
OUR CURRENT IN TAX RATE IS JUST 20 209 $0.04.
THE MAXIMUM IMPACT OF THIS PROGRAM ON YOUR TAX RATE WOULD BE $0.01.
I'D LIKE TO WALK THROUGH THE ASSUMPTIONS TO GIVE YOU A FEEL.
SO IF YOU'D GO TO THE NEXT PAGE, START BY LOOKING LIKE WHAT'S HAPPENED TO THE COMMUNITY.
CURRENT TAXABLE VALUE IS 2.3 BILLION.
LAST YEAR YOU GREW 772 MILLION AMAZING GROWTH.
AND YOU CAN SEE NOT ONLY THE CITY HAS GOTTEN BIGGER, BUT IT'S GROWN FASTER.
THREE YEAR AVERAGE GROWTH HAS BEEN 420,000,005 YEARS, BEEN 342 MILLION.
SO WE JUST WANT TO GIVE THIS A CONTEXT OF WHAT'S TAKING PLACE.
AT THE SAME TIME, WE WANT TO THIS INCLUDES RESIDENTIAL, INCLUDES COMMERCIAL MIXED USE AND INCLUDES REAPPRAISAL RE APPRAISALS OF EXISTING FACILITIES. SO I USE THAT BENCHMARK OF 430 MILLION FOR THE THREE YEAR COMPOUND GROWTH, 342 FOR THE FIVE YEAR.
IT'S KIND OF AN INDICATOR TO REMEMBER IF YOU GO TO THE NEXT PAGE TALKING TO YOUR STAFF, THE SENIOR MANAGEMENT TEAM WANTED TO BE VERY CONSERVATIVE. SO WHAT THEY INDICATED FOR PROJECTION WAS THAT THEY THOUGHT THAT.
THERE WOULD BE A DECREASE TO ABOUT 1000 NEW SINGLE FAMILY HOMES PERMITTED.
AND WE'RE ONLY FORECASTING FOR A SHORT PERIOD OF TIME, FOUR YEARS.
SO WE STOOD AT THE 1000 HOMES, 4000 AGGREGATE.
WE INCREASED THE HOME PRICE BY ONLY 5% PER YEAR.
AND SO ON AGGREGATE, WE'VE LOOKED AT FOUR YEARS AND SAID, WE'RE GOING TO GROW ABOUT 1.5 BILLION.
IT DOESN'T INCLUDE ANY ESTIMATE OF REAPPRAISAL OF EXISTING VALUES OR COMMERCIAL RETAIL.
NOW, A KEY THING ABOUT THIS IS IT'S NOT IN ANY ONE YEAR.
IT'S REALLY MORE ON AGGREGATE, HOW WE GROW OVERALL.
AND AGAIN, AS WE THINK THROUGH THIS.
SO THE LAST PAGE AND THIS IS PAGE FIVE.
THIS IS AN IMPORTANT PAGE BECAUSE IT REALLY GIVES YOU THE DETAIL IF YOU TURN TO THE NEXT PAGE.
THIS IS AN IMPORTANT SPREADSHEET.
I KNOW IT'S BUSY, BUT IT PROVIDES, I THINK, A LOT OF INSIGHT INTO CURRENT SITUATION AND WHAT WE'RE TRYING TO DO ON COLUMN C IS OUR CURRENT VALUE OF 2.3 MILLION AND THEN YOU SEE FOUR YEARS OF GROWTH.
AS I INDICATED, WE GROW ABOUT 1.5 BILLION TO 3.8 BILLION.
WE STAY FLAT AFTER THAT ON COLUMN D, WE HAVE OUR EXISTING DEBT.
NOW, TWO THINGS ABOUT YOUR DEBT.
FOR A CITY YOUR SIZE, WE DON'T HAVE A LOT OF DEBT OUTSTANDING AND MOST OF THAT DEBT IS FRONTLOADED.
AND SO WE HAVE TO TAKE THAT CONSIDERATION WHEN WE STRUCTURE YOUR DEBT.
AND AND AS YOU CAN SEE, WE'VE AMORTIZED THAT DEBT TO KIND OF MAINTAIN A LEVEL TAX RATE.
AND IT CAME OUT ABOUT, AGAIN, A 0.99 OF A $0.01 TAX RATE IMPACT AND WE COULD HAVE DELAYED.
WHEN YOU DO PHASES, WE CAN DELAY THE IMPACT.
[00:50:01]
SOON AS THEY MOVE FORWARD, DO IT ONE TIME BASED ON THEIR COMMITMENT TO THE.CITIZENS AND THEN GO FORWARD FROM THERE.
THE REALITY IS WE WOULDN'T HAVE HAD TO DO THAT.
BUT IF YOU CAN SEE WE GO UP $0.01 FOR A FEW YEARS AND THEN EVEN WITHOUT GROWING AFTER 2027, WE ACTUALLY START TO GET CAPACITY AS OUR DEBT GOES FORWARD.
SO A COUPLE OF QUESTIONS THAT I HAVE IS ONE.
THE $77 MILLION PROGRAM, WE THINK $0.01 WOULD BE CONSERVATIVE.
THE FACT OF MATTER IF WE PUSHED IT AND WE WE DIDN'T NEED TO DO $0.01, WE MIGHT DO SOME THINGS THAT WE CAN DO TO MAKE THIS WORK BECAUSE YOU CAN SEE THERE'S A NUMBER OF IN THE BACK ON THE FAR RIGHT SIDE OF THE COLUMNS, WE ACTUALLY ARE TAX RATE, WE SHOW A REDUCTION IN TAX RATE.
ONCE WE ISSUE AND WE GET THROUGH OUR.
OUR OUR NEXT FEW YEARS WE SHOW YOU'LL SEE A LEVEL DEBT SERVICE OVERALL AMORTIZATION.
SO IN SUMMARY, THE $77 MILLION PROGRAM RETURNED TO THE LAST PAGE.
RIGHT NOW WE'RE LOOKING AT A $0.01 INCREASE.
AGAIN, IT'S, I THINK, A CONSERVATIVE FORECAST BASED ON DIRECTION OF SENIOR MANAGEMENT.
THERE'S A LOT OF FLEXIBILITY IN THERE.
THERE'S FLEXIBILITY TO ABSORB MORE IF WE NEEDED TO.
BUT IT'S ALL BASED ON SOME ASSUMPTIONS.
AND AGAIN, I THINK OUR ASSUMPTIONS ARE VERY HIGH IN INTEREST RATES, LOW IN POTENTIAL TAX VALUES.
AND WE CAN TALK ABOUT WHAT HAPPENS IN THE VARIANCES.
AND AND THE KEY THING IS IN A PROGRAM LIKE THIS IS DONE IN PHASES.
SO IN SUMMARY, I THINK THE CITY IS IN EXCELLENT FINANCIAL CONDITION.
IT'S A SIGNIFICANT AMOUNT OF DEBT AND TO BE ABLE TO ABSORB IT WITH A VERY MODERATE TAX VALUE ASSUMPTIONS WITH THE $0.01 INCREASE I THINK IS A REALLY TREMENDOUS POSITIVE. THAT CONCLUDES MY ANALYSIS PRESENTATION, I'LL ANSWER ANY QUESTIONS I CAN.
ANY QUESTIONS GENTLEMEN? QUESTIONS. I APPRECIATE IT.
THANK YOU VERY MUCH. THANK YOU.
MR. SABONIS, DO YOU HAVE THE CALENDAR? WE CAN WE TALK ABOUT THAT JUST A LITTLE BIT? AS FAR AS THE CALENDAR.
THE STATE REGULATES OUR ELECTIONS, AND BOND ELECTIONS ARE REGULATED JUST LIKE COUNCIL ELECTIONS.
AND TO GIVE YOU A FEEL, THERE'S A SPECIFIC PERIOD OF TIME THAT WE HAVE TO CALL THE ELECTION AND AND THE FIRST DAY THAT THE COUNCIL CAN CALL AN ELECTION FOR A GENERAL BOND ELECTION IS JULY 22ND, 2023.
THE LAST DAY THAT YOU COULD CALL ELECTION IS AUGUST 21ST, 2023.
SO WHAT WOULD TAKE PLACE IS THAT SOMEWHERE EITHER THROUGH A REGULAR SPECIAL COUNCIL MEETING, YOU WOULD HAVE AN AGENDA TO CALL ELECTION IN PLACE.
SO AGAIN, THE KEY DATES ARE JULY 22ND TO AUGUST 21ST, A NARROW TIME FRAME.
THE ELECTION WOULD BE ON NOVEMBER 7TH, 30 DAY CANVASS PERIOD AFTER ELECTION.
AGAIN, OUR TIMING THAT WE WOULD SHOW WE'D BE READY TO GO FORWARD AFTER THE CANVASS PERIOD ON A JULY 22ND SALE, AND THEN WE WOULD CLOSE THAT BOND TRANSACTION IN FEBRUARY.
SO IN MANY CASES, WHEN WE MOVE FORWARD IN PROJECTS LIKE THIS.
YOU KNOW, THEY WANT TO GET THAT FIRST PROGRAM OUT.
WE. SIMULTANEOUSLY, AS THE ELECTION IS TAKING PLACE AND BEING CANVASED, WE'RE PREPARING FOR THE BOND SALE AND GO FORWARD FROM THAT PROCESS AND ALSO TAKING CONSIDERATION IF WE STILL HAD A RISING RATE ENVIRONMENT, GET TO THAT FIRST ONE TO THE MARKET.
SO. VERY SIMPLE PROCESS AND IT'S IMPORTANT.
AND DEREK, I APOLOGIZE, I DIDN'T INCLUDE THIS IN MY PRESENTATION, BUT WE DISCUSSED IT.
BUT WITH THAT ANSWER ANY QUESTIONS RELATED TO THAT SCHEDULE.
THANK YOU, JIM. ALSO, BRITTANY, DO YOU WANT TO TALK ABOUT THE PUBLIC ASPECT OF THIS?
[00:55:01]
THANK YOU. ACTUALLY, I HAVE ANOTHER QUESTION REAL QUICK BEFORE YOU LEAVE THE JULY 22ND DATE.WHAT IS THE IMPORTANCE OF THAT DATE? IS THAT X AMOUNT OF DATES BEFORE NOVEMBER THE SEVENTH, OR IS THAT JUST A DATE GENERATED SPECIFIC TO THIS? WHAT IS THAT DATE FOR? WELL, THAT WAS REALLY IMPORTANT WAS THAT WAS WHAT STATE POSTED ON THEIR STATE COMPTROLLER'S WEBSITE THAT I PERSONALLY PULLED DOWN.
NOW, I WILL SAY IT'S INTERESTING BECAUSE FROM MY OWN KNOWLEDGE, I WANTED TO KNOW WHAT WAS THE DATE.
SO I PUT A CALENDAR TOGETHER TO SAY IT'S 108 DAYS BEFORE THE ELECTION.
THE MONDAY, AUGUST 21ST IS 78 DAYS BEFORE THE ELECTION.
I DON'T KNOW EXACTLY WHAT THAT IS, BUT I DO KNOW THAT IT'S 108 78 DAYS.
WE GOT 30 EXACT PHYSICAL DAYS THAT WE HAVE THE ELECTION.
IT'S UNUSUAL. AND I DO WANT TO SAY JULY 22ND IS A SATURDAY.
MONDAY IS AUGUST 21ST, BUT IT'S JUST A 30 DAY WINDOW.
IT'S ACTUALLY SHORTENED. IT USED TO BE 45 DAYS.
IT USED TO BE A LITTLE BIT DIFFERENT TIME FRAME CLOSER TO THE ELECTION.
BUT THIS IS WHERE OUR CURRENT ELECTION SCHEDULES LOOK LIKE.
COUNCIL. WE HEARD FROM YOU LAST TIME THAT YOU WANTED AT LEAST TWO TOWN HALLS TO GET PUBLIC INPUT AND TALK ABOUT THE PROGRAM AND GATHER FEEDBACK FROM THE CITIZENS. SO AS YOU CAN SEE HERE, WE PUT OUR HEADS TOGETHER AND THOUGHT WE WANTED TO WORK BACKWARDS FROM THE JULY 22ND TIME PERIOD SO THAT THERE WAS TIME TO GET PUBLIC INPUT BEFORE THE ELECTION HAS TO BE CALLED.
SO WHAT WE ARE THINKING IS THAT PERHAPS IN MAY, ONE MEETING IN MAY ONE MEETING IN JUNE, AND WE WOULD LIKE YOUR INPUT ON IF THAT MEETING IS BEFORE A COUNCIL MEETING, IF IT'S ON A WEEKEND.
MAYBE IT'S DIFFERENT EITHER MONTHS SO YOU CAN CAPTURE A DIFFERENT SUBGROUP OF FOLKS.
HAVE THEM PROVIDE FEEDBACK ON WHAT THEY THINK PRIORITY IS IMPORTANT.
I DON'T THINK IT WOULD BE WISE TO HAVE IT BEFORE A COUNCIL MEETING.
I THINK THAT'S TOO EARLY AND A LOT OF PEOPLE WOULD STILL BE AT WORK AT THAT TIME.
ALSO, WE'RE GOING TO BE DOING ANY DIGITAL CAMPAIGNS AND SOCIAL MEDIA PUSHES FOR THIS? ABSOLUTELY. THIS IS JUST A PUBLIC PIECE.
ANYTHING ELSE, GUYS? DOES A PARTICULAR DAY OF THE WEEK WORK BETTER? I THINK HONESTLY WE SHOULD HAVE ONE DURING THE WEEK AND I THINK IT'D BE WISE TO HAVE ONE ON A WEEKEND AS WELL.
YEAH, ONE SATURDAY MORNING MAYBE OR..
SATURDAY MORNING. AND THEN I KNOW WEDNESDAY IS A CHURCH NIGHT OFTEN, SO MAYBE A THURSDAY EVENING.
THANK YOU ALL. THANK YOU VERY MUCH.
ALL RIGHT, GENTLEMEN, ANY OTHER QUESTIONS BEFORE WE WRAP THIS ONE UP? AND IF NOT, IF I COULD GO AHEAD AND GET A MOTION TO ADJOURN, PLEASE.
YOUR HONOR, I MAKE A MOTION TO ADJOURN.
DO I HAVE A SECOND? I'LL SECOND IT. ALL IN FAVOR SAY AYE.
AYE. THANK YOU SO MUCH.
* This transcript was compiled from uncorrected Closed Captioning.