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WELCOME EVERYBODY. YES I SEE 601 . THE MAYOR WOULD BE ASHAMED THAT WE'RE STARTING A MINUTE
[Town Hall Budget]
LATE. THANK YOU, EVERYONE FOR COMING. MY NAME IS BOXCAR. I AM DEPUTY TOWN MANAGER FOR PROSPER BEEN HERE ABOUT JUST UNDER A YEAR AND A HALF. FINANCE IS ONE OF MY RESPONSIBILITIES, SO I'M GOING TO BE DOING THE PRESENTATION TONIGHT. BUT THE PEOPLE WHO PUT THE BUDGET TOGETHER. CHRIS, WHY DON'T YOU STAND UP? THAT'S CHRIS LANDON. HE'S OUR DIRECTOR OF FINANCE AND. AND WHITNEY. WHITNEY RIM. SHE IS OUR BUDGET ANALYSTS. SO ALL HARD QUESTIONS GO TO THOSE INDIVIDUALS. SO LET'S GO AHEAD AND GET STARTED REAL QUICK. SO FIRST OF ALL, HOW DID WE GET HERE TONIGHT AND JUST VERY QUICKLY. AH! BUDGETS ARE VERY HEAVILY REGULATED BY STATE LAW. WE HAVE PROCESSES THAT WE FOLLOW. AND IT STARTS WITH US GETTING THE CERTIFIED ROLL THE LAST WEEK IN JULY. AND THEN WE SUBMIT BASED ON THE CERTIFIED ROLE. THE PRELIMINARY BUDGET TO TOWN COUNCIL, WHICH WE DID ON AUGUST 8TH THIS YEAR. THE PRELIMINARY BUDGET IS A STAFF DOCUMENT AND WHAT THAT MEANS IS THE COUNCIL HAS NOT LOOKED AT IT IN ITS ENTIRETY YET. WE'VE HAD WORK SESSIONS ON VARIOUS PRIORITIES AND SPECIFIC ITEMS LIKE COMPENSATION INCREASES, ETCETERA, BUT THE ENTIRE BUDGET HAS NOT BEEN REVIEWED BY COUNCIL . SO IT'S A STAFF DOCUMENT AT THAT POINT. THE COUNCIL LOOKED AT IT. AND THEY APPROVED SEVERAL ITEMS REQUIRED BY STATE LAW, UH , INCLUDING SETTING A MAXIMUM TAX RATE AND THEN BEGAN THE ADVERTISING PROCESS FOR THE PUBLIC HEARING, WHICH IS SET FOR SEPTEMBER. 12TH. AND THE CAP. PRELIMINARY BUDGET CONTAINS SEVERAL CAPITAL ITEMS. THAT WE'RE TRANSITIONING OUR CAPITAL PROCESS AS WE'LL TALK ABOUT LATER. AH! AS A VERY YOUNG AND RAPIDLY GROWING CITY. OUR CAPITAL PROGRAM IS. ONE OF THE MOST IMPORTANT THINGS WE'RE DOING RIGHT NOW. YOU ONLY HAVE TO DRIVE ON STREETS DURING RUSH HOUR TO KNOW. THAT WE ARE BEHIND . AND SO THAT'S A BIG THING AND THE COUNCIL CREATED A C I P SUBCOMMITTEE OF COUNCIL THIS LAST YEAR, WHICH NOW REVIEWS ALL CAPITAL ITEMS AND MEETS PERIODICALLY THROUGHOUT THE YEAR TO PRIORITIZE CAPITAL ITEMS AND AS PART OF THAT PROCESS. WE INTENDED TO HAVE ALL CAPITAL ITEMS. GO THROUGH THAT COMMITTEE , BUT THERE WAS SOME MISCOMMUNICATION AND SEVERAL CAPITAL ITEMS ENDED UP AS PART OF THE GENERAL FUND, WHICH IS HOW IT HAD BEEN DONE IN THE PAST . AND SO ONE OF THE THINGS WE SAID IS, WELL THOSE CAPITAL ITEMS REALLY NEED TO GO THROUGH THE COMMITTEE AND SO OUR RECOMMENDATION TO THE COUNCIL ON AUGUST 8TH WAS THERE ARE SEVERAL ITEMS SUCH THE C I. P SUBCOMMITTEE NEEDS TO LOOK AT THE FINANCE SUBCOMMITTEE NEEDS TO LOOK AT, AND WE ALSO WANTED TO MAKE SURE THE COUNCIL WAS SATISFIED WITH OUR BALANCE BETWEEN HOW MUCH WE'RE SPENDING ON CAPITAL. VERSUS HOW MUCH WE'RE SPENDING ON OPERATIONS. SO ALL THAT WENT BACK TO THOSE SUBCOMMITTEES. ITS SUBCOMMITTEES MET AND THEN WE CAME BACK TO COUNCIL ON AUGUST 22ND WITH THE FORMAL RECOMMENDATIONS. AND BASED ON THE CHANGES MADE BY AND RECOMMENDATIONS OF THE SUBCOMMITTEE'S AS APPROVED BY FULL COUNCIL. THIS IS THE BUDGET WE'RE TALKING ABOUT TONIGHT. AND ONCE THE COUNCIL HAD PROVIDED THEIR INPUT AND SAID, GO AHEAD WITH THE ADVERTISING FOR THE PUBLIC HEARING. IT BECAME A PROPOSED BUDGET. SO NOW IT'S THE OFFICIAL TOWN DOCUMENT. AND WE WILL HAVE A FORMAL PUBLIC[00:05:06]
HEARING AND BUDGET ADOPTIONS. SEPTEMBER 12TH. BUT THIS. PARTICULAR MEETING IS VERY IMPORTANT BECAUSE STATE LAW. REQUIRES US TO ADOPT THE BUDGET WITHIN ONE WEEK OF THE PUBLIC HEARING. AND MOST. CITIES TOWNS LIKE PROSPER ONLY MEET TWICE A MONTH, SO WE WOULD EITHER HAVE TO SCHEDULE A SPECIAL MEETING. AFTER A WEEK AFTER THE PUBLIC HEARING TO ADOPT THE BUDGET. OR WE CAN ADOPT THE BUDGET ON THE NIGHT OF THE PUBLIC HEARING. AND SO BY HAVING THIS TOWN HALL MEETING WE GET CITIZEN INPUT IN ADVANCE OF THE ACTUAL DELIBERATIONS THAT WILL TAKE PLACE ON SEPTEMBER 12TH. AND SO THAT'S WHY THOSE OF YOU WHO ARE HERE TONIGHT. THOSE OF YOU WATCHING ONLINE, IT'S VERY IMPORTANT FOR US TO RECEIVE YOUR INPUT. SO. OUR BUDGET IS ALL ABOUT THE STRATEGIC VISION OF THE COUNCIL ON APRIL 25TH COUNCIL. AH! ADOPTED FIVE PRIORITIES IN TERMS OF THE STRATEGIC VISION OF WHAT THEY WANTED PROSPER TO BE. UH 5 10 YEARS FROM NOW AND THAT BUILD OUT AND THE NUMBER ONE PRIORITY. WAS ACCELERATING INFRASTRUCTURE.AND I'LL TALK ABOUT THAT A LITTLE BIT LATER, TOO. BUT THAT NUMBER ONE PARTY WARTY REALLY FEEDS THE OTHERS. BUT THE NEXT ONE WAS DEVELOPING DOWNTOWN AS A DESTINATION. AND THEN WE HAVE, UM ENSURE THAT THE, UH. TOWNS COMMERCIAL CORRIDORS ARE READY FOR DEVELOPMENT. RIGHT NOW, JUST TO GIVE YOU AN IDEA ARE ASSESSED VALUATION. THE TAX BASE OF THE TOWN IS ABOUT 80 2080 SINGLE FAMILY RESIDENTIAL. 20% COMMERCIAL. WELL ONE OF THE THINGS YOU UNDERSTAND IF YOU'RE IN THE MUNICIPAL FINANCE BUSINESS. IS COMMERCIAL REQUIRES TYPICALLY REQUIRES LESS SERVICES AND PROVIDES MORE REVENUE THAN THE RESIDENTIAL SO IF YOU LOOK AROUND THE METROPLEX, THOSE THAT HAVE MUCH UH, LARGER RATIOS OF COMMERCIAL TYPICALLY WILL HAVE THE LOWEST TAX RATES BECAUSE THE COMMERCIAL CAN PAY A LOT OF THE WAY AND SO DEVELOPING THOSE COMMERCIAL CORRIDORS IS VERY IMPORTANT TO US, AND THAT IS A PARTY WARRANTY FOR THE COUNCIL. AND THEN, UM, CONTINUE TO PROVIDE EXCELLENT MUNICIPAL SERVICES. AND THEN OUR LAST ONE WAS WORK TOWARDS A GROWING AND DIVERSIFIED TAX BASE. UH FOR A COUNT TO BE RESILIENT. AH YOU CAN'T HAVE JUST ONE TYPE OF BUSINESS IN TOWN. YOU NEED TO HAVE BUSINESSES THAT ARE GROWING AND EVOLVING. AND NOT JUST RETAIL. UH IF YOU DRIVE AROUND THE METROPLEX, YOU'LL SEE A LOT OF CITIES WITH AGING RETAIL CENTERS. THAT AREN'T VERY ATTRACTIVE. SO YOU DON'T WANT TO JUST HAVE RETAIL. YOU NEED SOME RETAIL, BUT YOU WANT THAT BALANCE OF COMMERCIAL. AND SO THOSE ARE THE COUNCIL'S STRATEGIC VISIONS, AND WE TRIED TO BUILD THE BUDGET AROUND THAT. SO JUST SUMMARIZING THE BUDGET ON A SINGLE SLIDE. WE PRIDE OURSELVES ON OUR SMALL TOWN FIELD, BUT THE REALITY IS PROSPEROUS NOW PUSHING ABOUT 40,000 POPULATION. AND OUR BUDGET OPERATING BUDGET IS ABOUT 100 MILLION, JUST UNDER 100 MILLION, SO WE'RE NO LONGER REALLY A SMALL TOWN. AND WHEN YOU LOOK AT HOW THAT BREAKS OUT . YOU SEE THE JUST UNDER 49 MILLION FOR GENERAL FUND AND THEN 3 MILLION EACH FOR CRIME AND FIRE CONTROL DISTRICTS, AND SO REALLY, WHEN YOU LOOK AT OUR GENERAL FUND, IT'S RIGHT AT ABOUT 55 MILLION BECAUSE THOSE TWO UH, SALES TAX DISTRICTS PROVIDE. A LOT OF OUR FIREFIGHTERS AND POLICE OFFICERS , AND THEN WE HAVE ABOUT $42 MILLION IN WHAT WE CALL ENTERPRISE FUNDS, WHICH INCLUDES WATER AND SEWERS, OUR BIGGEST AND THEN SOLID WASTE AND THE STORM DRAINAGE UTILITY. THEN WE HAVE 15 MILLION JUST UNDER 15 MILLION FOR DEBT SERVICE. AND. FOR JUST GOVERNMENTAL CAPITAL PROJECTS, SO IN PRIMARILY ROADS
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WE HAVE. UH FOUNTAIN JUST UNDER 100,000,098 0.8 MILLION. THAT DOES INCLUDE A BIG BIG CHUNK OF THAT IS FOR RAYMOND PARK, WHICH IS FINALLY GETTING GOING, SO THAT'S GOOD. SO THAT'S OUR BUDGET AND BRIEF. BUT ONE OF THE THINGS THAT'S IMPORTANT TO UNDERSTAND ABOUT MUNICIPAL FINANCES IS THE IMPORTANCE OF PROPERTY TAXES, A REVENUE SOURCE. AND IN PROSPER OR PROPERTY TAX GOES TO THREE. DISTINCT FUNCTIONS. YOU SEE THE GENERAL FUND OVER THERE? 45 JUST OVER 45% AND THAT PROVIDES THE BASIC SERVICES. THAT'S THE PUBLIC WORKS REPAIRING THE ROADS THAT'S PLACED THAT'S FIRE. THAT'S PARKS. THAT'S LIBRARY. ALL THE OPERATING. BUT THEN YOU SEE, 35% OF OUR TAX RATE GOES TO DEBT SERVICE, WHICH IS FUNDING ALL THE CAPITAL PROGRAMS THAT THAT YOU SEE HAPPENING AROUND US. THE FIRST THREE ON THE WEST SIDE OF THE TOLLWAY FIRST THREE AT OY. ALL THOSE PROJECTS ARE FUNDED WITH DEBT. AND THEN THE DEBT SERVICE TAX RATE PAYS FOR THAT. AND THEN THE LAST CATEGORY IS COLD PAYS YOU GO CAPITAL DEDICATED AND JUST UNDER 20. AND WHAT THAT IS, IS THE RECOGNITION. THAT FOR A GOVERNMENT. WHEN YOU HAVE 1000 NEW HOMES, AND YOU GET ALL THIS NEW VALUE ON YOUR TAX ROLL. WELL THAT NEW VALUE THOSE 1000 HOMES MAY NOT BE ENOUGH TO JUSTIFY NEW FIRE STATION OR MAY NOT BE ENOUGH TO JUSTIFY A HUGE NEW COMMUNITY PARK. BUT YOU CAN'T BUILD 1/10 OF A FIRE STATION A YEAR YOU CAN'T BUILD 1/10 OF A COMMUNITY PARK A YEAR AND SO BY SETTING ASIDE THAT TAX RATE FOR CAPITAL PURPOSES. THAT'S AN INTEGRAL PART OF US ACCELERATING OUR CAPITAL PROGRAM AND SAVING THAT MONEY BACK FOR THOSE BIG CAPITAL PROJECTS THAT COME AND SHARKS SO TALKING ABOUT GENERAL FUND, WHICH IS OUR MAIN OPERATING FUND. WE HAVE OUR FOUR LARGEST REVENUES OR PROPERTY TAX SALES, TAX DEVELOPMENT FEES IN FRANCHISE FEES. THAT'S 90% OF OUR TOTAL REVENUE. SO WHEN WE DO OUR BUDGET PROJECTIONS, THAT'S WHERE WE REALLY HAVE TO FOCUS. AH THIS YEAR. I WAS AMAZED WE ACTUALLY EVEN THOUGH PROSPEROUS , GROWN AS MUCH AS IT HAS WE HAD MORE NEW VALUE ON ARE ASSESSED VALUATION FROM NEW CONSTRUCTION THAN WE DID. EXISTING VALUATIONS , NOT BY MUCH, BUT WE STILL HAD WE'RE STILL EXPERIENCING AND INCREDIBLE GROWTH. AND THAT'S ONE OF THE REASONS WHY WE'RE SEEING THAT 26. INCREASE. AND THEN WE INCREASE THE HOMESTEAD EXEMPTION FROM 12.5% 15. AND THEN OUR LEVEE BECAUSE OF THE INCREASE IN VALUATION WENT UP 9.2 MILLION. SALES TAX. HAS BEEN GROWING FOR LAST SEVERAL YEARS BY DOUBLE DIGIT AMOUNTS THAT'S STARTING TO SLOW AND WE THINK IT'S GOING TO CONTINUE. TO BE UNDER DOUBLE DIGITS FOR THE FORESEEABLE FUTURE. SO WE HAVE PROJECTED 8.6% GROWTH ON THAT.DEVELOPMENT FEES HAVE ACTUALLY GONE DOWN BECAUSE OF SOME OF THE SLOWDOWN IN DEVELOPMENT. SO WE'RE SEEING UH, DECLINE IN REVENUES IN THAT AREA, AND THEN THE FRANCHISE FEES ARE GROWING, BUT PRIMARILY THROUGH ORGANIC GROWTH. AND THEN IF YOU LOOK AT THE GENERAL FUND OR SHOWING A SLIGHT DECREASE. IN REVENUES. BUT THE ONLY REASON FOR THAT IS BECAUSE LAST YEAR WE CREATED THE CAPITAL DEDICATED LEVY FOR THE FIRST TIME. AND WE BUDGETED IN THE GENERAL FUND AND THEN TRANSFERRED THE MONEY OUT AND WE CREATED FOR THE FIRST TIME THIS YEAR CAPITAL PROJECTS FUNDS AND SO WE BUDGE DID THE CAPITAL DEDICATED LEVY DIRECTLY IN THOSE CAPITAL PROJECT FUNDS, SO IT'S NO LONGER GOING THROUGH THE GENERAL FUND, WHICH PROVIDES YOU A BETTER INDICATION OF THE SIZE OF THE GENERAL FUND IF IT HAD NOT BEEN FOR THAT. UH GENERAL PHONE WOULD HAVE GONE UP ABOUT
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14.8. UM. AND POPE. APPROPRIATIONS INCREASED PROPORTIONATELY AND THEN THE NON RECURRING USES OUR DRAWDOWN OF FUN BALANCE. UM TOUR POLICY GUIDELINES. WE TRY NOT TO KEEP.WE HAVE POLICY GUIDELINES CHARTER REQUIREMENT OF 20% AND THEN COUNCIL HAS PASSED AN ADDITIONAL 1. SO WE HAVE TO HAVE FUN BALANCE EQUAL TO 21% OF EXPENDITURES. BUT WE DON'T WANT TO HAVE MORE THAN THAT. BECAUSE THE PURPOSE OF GOVERNMENT IS TO SERVE OUR CITIZENS, AND SO WE WANT TO BE FINANCIALLY RESPONSIBLE, BUT WE'RE NOT ALL ABOUT ACCUMULATING CASH, SO WE THREW THAT DOWN TO THE 21. AND SO WHAT ARE SOME OF THE INITIATIVES? UM THE MARKET. UH FOR LABOR IS VERY COMPETITIVE RIGHT NOW. AND SO WE DID MARKET ADJUSTMENT. AH! WE'RE VERY COGNIZANT OF THE NEED FOR IT SECURITY AND WE'VE MADE SOME INITIATIVES. UH, IN THAT AREA.
WE ALSO THE BIGGEST SINGLE CHANGE WAS STRATIFIED POLICING, AND SO WE WILL NOW HAVE AN EAST AND WEST DIVIDED ALONG THE RAILROAD TRACKS. UH PATROLS AND HEAVIER COMMAND STAFF. SO THAT WE CAN BE MUCH MORE NIMBLE IN OUR RESPONSE AND THEN WE'RE ADDING EMERGENCY MANAGEMENT. UM THESE DAYS, ALL YOU HAVE TO DO IS LOOK AT YOUR PHONE AND YOU HEAR ABOUT A NEW NEW DISASTER, AND WE WANT TO BE ON TOP OF THAT AND BE VERY PROACTIVE ABOUT OUR EMERGENCY MANAGEMENT PLANNING.
SIT ON THE STREET SIDE. WE ARE DOING SOME MARKINGS ENHANCEMENT . SOME ICE CREAM TREATMENT. UM INCREASING COMMUNITY EVENTS. IN FACT, WE HAVE FREEDOM FEST SATURDAY AND THAT THAT IS ONE OF THOSE INCREASES. AND THEN TRAFFIC SIGNAL COMMUNICATION UPGRADES. SO AMONG THE OTHER FUNDS. UTILITY FUND. WE ARE A DISTRIBUTION AND COLLECTION UTILITY AND WHAT THAT MEANS IS WE DON'T WE HAVE NO RESERVOIRS. WE DON'T TREAT OUR OWN PORTABLE WATER. WE HAVE NO WASTEWATER TREATMENT PLANTS. WE USE REGIONAL PROVIDERS FOR THAT. AND SO WHAT? THAT. THE IMPACT OF THAT IS IT'S MUCH MORE EFFICIENT. BUT IT ALSO MEANS THAT A VERY LARGE PART OF OUR UTILITY FUND EXPENSE GOES TO THOSE REGIONAL PROVIDERS, AND WE HAVE UH, LESS CONTROL OVER COST INCREASES. AND SO YOU MAY HAVE READ ABOUT NORTH TEXAS MUNICIPAL WATER DISTRICT RAISING RATES TO THEIR CUSTOMER CITIES BY 11. AND SO WE'RE SEEING THAT AND THEN ON THE WASTEWATER SIDE FOR THE WEST SIDE. OF THE TOWN. WE USE UPPER ETERNITY, REGIONAL WATER DISTRICT AND UPPER TRINITY. IS HAVING TO EXPAND THEIR WASTEWATER TREATMENT CAPACITY, AND THEY'RE REQUIRING THE PARTICIPATING GOVERNMENTS. TO MAKE CAPITAL CONTRIBUTIONS, AND WE'RE LOOKING AT A $54 MILLION CAPITAL CONTRIBUTION TO EXPAND OUR WASTEWATER. TREATMENT CAPACITY. AND SO THOSE ARE.
SIGNIFICANT DRIVERS ON OUR RATES. AH BECAUSE OF THOSE SIGNIFICANT COST INCREASES. WE HIRED A RATE CONSULTANT. TO DO FIVE YEAR PROJECTIONS LOOKING AT ALL THE EXPECTED EXPENSES OF THE CITY OVER TIME, INCLUDING THE GROWTH. IN DEMAND, AND THE RESULT WILL BE A BLENDED RATE OF 7% NEXT YEAR. AND WHEN I SAY BLENDED WATER IS ABOUT TWO THIRDS OF OUR REVENUE RIGHT NOW . AND WASTEWATER. ONE THIRD AND SO WE'RE LOOKING AT A 6% WATER INCREASE AND THEN BECAUSE OF THE DEBT SERVICE RELATED TO THAT $54 MILLION CAPITAL CONTRIBUTION. WE'RE LOOKING AT A 9% WASTE WATER. NOW THE GOOD NEWS IS THIS IS THE FIRST RATE INCREASE WE'VE HAD IN FOUR YEARS. 2019 WAS A LAST RATE INCREASE. OH, UH, WE PUT IT OFF AS AS LONG AS WE CAN AND JUST GIVE YOU LITTLE BIT OF A PHILOSOPHICAL IN TERMS OF HOW THE TOWN APPROACHES UTILITIES. WE TRY TO GO FOR BREAK EVEN OKAY
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, WE'RE NOT A FOR PROFIT ENTITY , AND SO WE NEED TO BE FINANCIALLY RESPONSIBLE. WE HAVE TO HAVE A HIGH ENOUGH CREDIT RATING THAT WE CAN ISSUE DEBT AND ACCESS CAPITAL MARKETS AS WE NEED IT, BUT AT THE SAME TIME WE'RE NOT TRYING TO ACCUMULATE UH, A LOT OF PROFIT. AND SO WHAT HAPPENS, THOUGH, IS AH! WHEN YOU BUDGET YOU CAN ONLY BUDGET ON AN AVERAGE YEAR. WELL, WE ALL KNOW THE AVERAGE IS THE MIDPOINT BETWEEN TWO EXTREMES. AND SO IF YOU HAVE SOME REALLY HOT YEARS YOUR REVENUES ARE PRETTY HEALTHY. BECAUSE WATER USE IS WAY UP. THEN YOU HAVE A WEATHER YEAR AND WATER USE GOES DOWN. AND SO WHAT WE'LL DO IS, UH AFTER A RATE INCREASE. WE ONLY RAISE RATES IF WE NEED TO RAISE RATES. TO COVER OUR COSTS. AND SO THAT'S WHAT WE'RE LOOKING AT THIS YEAR. AND THEN ON THE SOLID WASTE FUND. WE'RE MAKING A LOT OF CHANGES AND SOLID WASTE. WE THINK FOR THE BETTER WE DID A REQUEST FOR PROPOSAL AND SELECTED NEW PROVIDER THAT NEW PROVIDER IS GOING TO BE REPUBLIC WASTE SERVICES. THEY ARE THE SECOND LARGEST WASTE SERVICE COMPANY IN THE UNITED STATES. AND THEY HAVE UH, QUITE A BIT OF CITY BUSINESS HERE IN THE METROPLEX. AND THEY WILL BE. TAKING OVER FEBRUARY 1ST. BUT AS PART OF THAT, AND SEVERAL DIFFERENT CHANGES IS WE WILL BE BUYING OR CONTAINERS AND THE CONTAINERS WILL NO LONGER BE MARKED WITH THE NAME OF THE WASTE COMPANY. THEY WILL BE MARKED TOWNER PROSPER. AND WE WILL OWN THOSE CONTAINERS AND PART OF THE PHILOSOPHY THERE. IS WE FEEL LIKE. WE CAN OUTSOURCE THE TASK, BUT NOT THE RESPONSIBILITY. AND IF WE HIRE A PROVIDER TO PICK UP WASTE FOR OUR CITIZENS ULTIMATELY WERE RESPONSIBLE TO MAKE SURE THAT PROVIDERS PROVIDING THE SERVICE AND SO, UH IF YOU HAVE A PROBLEM. THEN THERE WILL BE AN ACTUAL Q R CODE ON THE CAN, AND YOU JUST SCAN YOUR PHONE AND YOU'LL GET ALL THE INFORMATION ON HOW TO CONTACT THE TOWN AND WE WILL ALSO BE HIRING SOMEBODY. TWO. ACT AS KIND OF THE THAT OMBUDSMAN BETWEEN THE CITIZENS AND THE WASTE HAULER, SO THAT IF YOU HAVE PROBLEMS UH, HOPEFULLY YOU'LL BE ABLE TO JUST GO DIRECTLY TO REPUBLIC AND GET EVERYTHING RESOLVED. BUT IF YOU CAN'T THEN WE WILL ACTUALLY HAVE SOME RESOURCES AND STRATEGIES IN PLACE IN TERMS OF HOW TO GET SERVICE PROBLEMS RESOLVED. AND THEN ON STORMWATER DRAINAGE, NO RATE INCREASE, ALTHOUGH WE ARE ADDING A COUPLE OF POSITIONS THERE. AH LET'S TALK ABOUT PERSONNEL AND COMPENSATION CHAIN CHANGES. LABOR MARKETS VERY, VERY TIGHT. WE'RE LOOKING AT, UM MARY AT 3. UH BUT WE'RE ALSO DOING SPECIAL MARKET ADJUSTMENTS FOR PUBLIC SAFETY EMPLOYEES. UH BASED ON OUR BENCHMARK CITIES AND THEN ANY OTHER EMPLOYEES THAT WERE MORE THAN 5% BEHIND THE MARKET. WE'RE GIVING OR MORE , GIVING THEM A 5% INCREASE IN.TYPICALLY THOSE ARE GOING TO BE YOUR POSITIONS THAT ARE VERY, VERY HARD TO FILL, AND WE HAVE A LOT OF VACANCIES AND PUBLIC WORKS. FOR EXAMPLE, PARKS AND SO WE'RE LOOKING AT PUTTING MONEY WHERE WE'RE HAVING HARD TIME FILLING THOSE POSITIONS. THEN HERE'S THE LIST OF THE POSITIONS. THESE ARE GENERAL FUND. AGAIN YOU CAN SEE WE HAVE OF ALL THE POSITIONS BEING ADDED 18, OR PUBLIC SAFETY RELATED. SO HEAVY EMPHASIS ON PUBLIC SAFETY. WE ARE TWEAKING HERE AND THERE AND THE OTHER POSITIONS WERE ADDING A HELP DESK TECHNICIAN IN I T. AH HALF A POSITION.
FINANCE. UM. AND PARKS. UH, WE ARE ADDING PARKS AND AS WE ADD PARKS WERE AND BEATING AND MAINTENANCE. WE'RE TRYING TO ADDRESS THOSE NEEDS WHERE HE ACTUALLY HAVE INCREASED LIBRARY
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HOURS JUST A LITTLE BIT IN THE EVENING. THERE NOW OPEN TILL EIGHT PM AH, SO WE'RE ADDRESSING THAT AND THEN, UH, FACILITIES WE HAD HISTORICALLY OUTSOURCED AND SO EVEN THOUGH WE'RE SHOWING WE'RE ADDING TO POSITIONS IN THE PAST, THOSE TWO POSITIONS WERE AN OUTSIDE COMPANY. SO WE'RE REALLY NOT ADDING, AND THERE'S NO BUDGET IMPACT TO THAT. AND THEN ONE CODE COMPLIANCE OFFICER IS BEING RE CLASS FROM A BUILDING INSPECTION POSITION. AND THEN WE ELIMINATED ONE COURT CLERK. SO WITH THAT. I'M GONNA HANDED OVER TO HUMAN WEB R R CAN ENGINEER BUT ONE OF THE THINGS I WANT TO EMPHASIZE IS WHEN YOU THINK ABOUT UM, AGAIN, THOSE FIVE ELEMENTS OF THE STRATEGIC VISION. DEVELOPING THE CORRIDORS , COMMERCIAL CORRIDORS, MAKING THEM READY TO DEVELOP. IF YOU DON'T HAVE WATER LINES. YOU DON'T HAVE SEWER LINES. YOU DON'T HAVE GOOD ROADS AND THOSE COMMERCIAL CORRIDORS THEY WILL NOT DEVELOP SO INFRASTRUCTURE. YOU COME BACK TO THAT? UH THE GOAL FOR A DIVERSE ECONOMIC BASE AGAIN. THAT'S SUPPORTED BY INFRASTRUCTURE, THE ABILITY TO GET AROUND ETCETERA, AND SO AH, AT THIS STAGE IN THE TOWN'S GROWTH INFRASTRUCTURE REALLY NEEDS TO TAKE CENTER STAGE IN TERMS OF OUR STRATEGIC VISION AND GETTING THOSE ASSETS IN PLACE TO MAKE SURE THAT WE'RE BOTH SERVING OUR CITIZENS, AND WE'RE POSITIONING OURSELVES FOR FUTURE DEVELOPMENT. AND WITH THAT, I WILL TURN IT OVER TO YOU ONE DO WE HAVE WE HAVE ANOTHER ONE? OKAY, WELL, I'LL GIVE HIM MINE AND THEN HOLD. BECAUSE ACTUALLY QUESTIONS WATCH OUT. HE KIND OF VEERS TOWARDS KARAOKE WHEN IT GETS MICROPHONE IN HIS HAND. I THINK YOU KNEW THAT.GOOD EVENING, EVERYONE. HOW YOU ALL DOING TODAY? UH IN A NAMED SHEILA WEBB, DIRECTOR OF ENGINEERING. THIS IS DEFINITELY A OKAY WITH MYSELF. OKAY? HOW'S THAT? IS THAT BETTER? OKAY. SO, OF COURSE, THIS, UH IS A GREAT COUNCIL STRATEGIC VISION. AND I'M GLAD IT'S NUMBER ONE SO AS FAR AS SELLING INFRASTRUCTURE WHEN IT COMES TO WHAT WE DO, DAY IN AND DAY OUT. AH I'M GONNA REPEAT A LITTLE BIT OF SOME OF THE THINGS, BOB SAID IS PART OF THE PRESENTATION. AS YOU CAN SEE THE WITH THE ACCELERATING INFRASTRUCTURE. BOB DID MENTION THAT, UH, THERE'S TWO BULLET POINTS THERE. FIRST. ONE IS TO WORK WITH THAT NEWLY FORMED CAPITAL IMPROVEMENT SUBCOMMITTEE TO ENSURE THE INFRASTRUCTURE BEATS THE DEMANDS AND THE SECOND ONE TO SHOW HOW SERIOUS THIS ONE IS. UTILIZE ALL AVAILABLE FOOT FINANCIAL METHODS, BONDS CERTIFICATE OBLIGATIONS CALCULATED KATIE FUNDS GRANTS ETCETERA TO FUND PROJECTS. LET ME TELL YOU WHERE WE'RE WE'RE SHAKING THE COUCH CUSHIONS LOOKING FOR MONEY TO GET THIS PROJECT DONE. SO, UH, IT'S THAT SERIOUS LIKE BOB SAID. WE, UH WE'RE A LITTLE BEHIND AND, UH THERE'S A LOT OF THINGS WE'VE DONE OVER THE YEARS TO GET TO WHERE WE ARE TODAY, AND IT'S NICE TO SEE THE FUNDS COMING IN TO GET TO THE POINT WHERE WE COULD START BUILDING A LOT OF THE INFRASTRUCTURE THAT YOU'RE SEEING OUT THERE TODAY. UM MANY OF YOU MAY KNOW, BACK IN 2020. WE DID DO A BOND ELECTION. UH WITH THAT IT WAS, YOU KNOW, ANTICIPATING THE A 10 YEAR PROGRAM THAT WAS A $210 MILLION AUTHORIZATION OF THAT 150 MILLION OF IT WAS ROADS. 30 MILLION OF ITS FOR PUBLIC SAFETY AND 30 MILLION OF IT WAS FOR PARKS. UM BY CALCULATIONS RIGHT NOW, BUT WE'RE IN THE FIRST THREE YEARS AND WE'VE ALREADY IT SAYS 110 MILLION INTO THAT ISSUANCE. SO RIGHT OFF THE BAT.
WE'RE DOING EVERYTHING WE CAN TO GO THROUGH THAT MONEY. BY 2025. WE'RE ESTIMATING, BUT THAT'LL BE 261 MILLION OF THAT WILL HAVE BEEN ISSUED. SO AGAIN. COUNCIL HAS BEEN VERY SERIOUS ABOUT GETTING THIS INFRASTRUCTURE MOVING. AH! SO WHAT DOES THAT MEAN? NEXT STEPS WELL, WE HAVE A LOT OF PROJECTS THAT ARE ON THAT LIST. IF YOU'RE FAMILIAR WITH THAT, THERE'S A LOT MORE THAT WE CAN DO AFTER THAT. SO WE'RE LOOKING AT NOVEMBER, 2025 TRYING TO FORMULATE TO ANOTHER BOND, DON ELECTION TO SEE WHAT'S OUT ON HORIZON AIR. UM WITH THAT? I THINK WHEN BOB MENTIONED WE'RE JUST UNDER 100 MILLION UH, OPERATING BUDGET. I ALWAYS FIND THIS LITTLE STAGGER AND WE SAY RIGHT NOW UNDER CONSTRUCTION JUST FOR ROAD PROJECTS WERE JUST SHY OF $70 MILLION. OF ROAD
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PROJECT SIZE. IT'S PRETTY LARGE NUMBER. REMEMBER GOING TO COUNCIL ONE NIGHT? WITH THREE OF THOSE PROJECTS, AND THEY WERE NEARLY NEARLY 60 MILLION AT THAT TIME. THAT WAS THAT WAS PRETTY AMAZING THAT, UH, THAT KIND OF THOSE KIND OF DOLLARS OF INFRASTRUCTURES MOVING BUT OF THOSE AH 70 MILLION. YOU GOT ALMOST 55/55 LES MILES THERE IN CONSTRUCTION. ANOTHER EIGHT MILES HERE IN THE NEXT COUPLE OF YEARS. ON TOP OF THAT, AND ABOUT $16.5 MILLION WORTH OF WATER AND SEWER PROJECTS THAT ARE UNDER UNDER WAY. A LITTLE BIT ABOUT THE C I P SUBCOMMITTEE RECOMMENDATIONS LIKE BOB MENTIONED THAT WAS FORMED THIS YEAR. YOU KNOW THEIR TASKS YOU KNOW, DIRECTOR WAS TO MAINTAIN THAT 8.5 MILLION CAPITAL DEDICATION PORTION OF THE TAX LEVY. AND IN SOME OF THOSE THINGS BOB MENTIONED THAT WE'RE PREVIOUSLY THAT WE LOOKED AT DOING IN THE GENERAL FUND THAT THEY HAD TO MAKE SOME RECOMMENDATIONS TO PUT OUT THOSE CAPITAL AND USE THOSE CAPITAL. DEDICATED DOLLARS. UH WE MOVED FROM 1.5 MILLION FOR OUR FIRE STATION NUMBER FOUR OUT OF YEAR FROM FY 24 25. WE'LL GO GET A LITTLE MORE DETAIL ON THAT IN A SECOND. THERE WAS A PROSPER TRAIL SCREENING PROJECT, WHICH IS IF YOU'VE DRIVEN AND PROSPER TRAIL JUST EAST OF PRESTON ROAD KIND OF SOUTH SIDE. WE'VE GOT A LEGACY NEIGHBORHOOD THERE DIDN'T HAVE THE SCREENING STANDARDS IN PLACE. SO COUNCILS INTERESTED IN HIM DOING SOME SCREENING THERE AND SO WE'VE GOT 750,000 ALLOCATED TOWARDS THAT. SOME STREET REPAIRS OUT AND START TRAIL PHASE 51.45 MILLION. WE'VE GOT 650,000 TO DO SOME FINISH OUT OF THE REMAINING SHELL SPACES IN TOWN HALL DUE TO THE GROWTH AND STAFF. UM SOME FRONTIER PARK POND IMPROVEMENTS OF 473,000. AH! YOU SEE 500,000 FOR THE QUIET ZONE ON FIFTH STREET THAT'S BEEN MOVED OUT TO 2025 THAT CORRESPONDS TO OUR FIRST STREET PROJECT HERE. I'LL TALK ABOUT SHORTLY THAT WILL HAVE A QUIET ZONE CROSSING AT THE FISH FIRST STREET CROSSING, SO ONCE THAT'S DONE, WE CAN DO SOME IMPROVEMENTS IN THE FIFTH STREET CROSSING, TOO. SO THAT WAY THE PEOPLE WON'T HEAR THE TRAIN ANYMORE AS IT COMES THROUGH TOWN. AND THEN, UH, WE HAVE N T T A PAYMENT THAT WE ARE PARTICIPATING ON SOME IMPROVEMENTS THAT THE TOLLWAY IS DONE THROUGH TOWN THAT WE'RE LOOKING AT POTENTIAL 2025. PAYMENT REIMBURSEMENT TO THEM. EVEN WITH ALL THAT WE'VE GOT ABOUT 2.6 MILLION THAT WE HAVE OUT THERE UNALLOCATED THAT WE'RE STILL LOOKING AT SOME OTHER TRAFFIC IMPROVEMENTS AROUND TOWN. IF YOU HAVE ANY IDEAS FEEL FREE TO SHARE. THERE'S A WE'RE ALWAYS TAKING INPUT ON ANYTHING WE CAN DO TO HELP IMPROVE TRAFFIC FLOW AROUND TOWN. SO WHEN IT COMES TO LOOKING OUT, THIS IS A REALLY A SNAPSHOT OF OUR FIVE YEAR CAPITAL PLAN REALLY LIKE TO SHOW THIS BECAUSE THIS SHOWS UH, WHAT'S GONNA BE IMPACTED FOR CONSTRUCTION? SO I THINK, AS WE MENTIONED EARLIER, JUST ABOUT EVERYBODY'S IMPACTED WHEREVER YOU GO IN TOWN. I KNOW YEARS AGO WE TRIED TO THINK STRATEGICALLY. WELL, LET'S DON'T TEAR THIS UP UNTIL WE GET DONE WITH THIS OR NOT TEAR. I THINK WE JUST MADE THE DECISION OF LET'S JUST GET IT DONE. WE NEED THIS. THIS THERE'S TOO MUCH THAT NEEDS TO GET GOING. UH LET'S SEE AS SOON AS WE CAN GET THE PROJECTS UNDERWAY. LET'S LET'S GET HIM GOING. SO THIS IS A QUICK SNAPSHOT OF WHAT WE'RE LOOKING AT IN THE NEXT FIVE YEARS. HMM. AND THIS IS A LITTLE BIT MORE DETAIL OF WHAT WE'RE DOING CURRENTLY, AND I'LL TOUCH WHAT WE'RE GONNA BE DOING NEXT YEAR AS WELL AS IN OUR PLANNING HORIZON FOR, UH FY 2025. SO JUST THE HIGHLIGHTS. STEP BACK BEHIND. YOU CAN SEE A LITTLE BETTER. CAN YOU ALL SEE THAT? OKAY AT ALL, IS IT HARD DOWN? HARD TO SEE OR MAYBE ON THE SIDE SCREEN THERE. ALL RIGHT. WE'LL RUN THROUGH. SO AH! ON THE WEST SIDE OF TOWN. WE HAVE THE FIRST STREET ARTS COMMUNITY RIGHT HERE IN FRONT OF TOWN. WE'VE ALLOCATED SOME MONEY. FOR THE FIRST STREET WAS CALLED THE DNT TO COLEMAN PROJECT. WE'RE HOPING IN THE SPRING OF THIS YEAR WE'RE GOING TO BE WIDENING FIRST STREET FROM THE TOLLWAY OVER COLEMAN, TAKING THE TWO LANE ASPHALT THERE AND MAKING A FOUR LANE DIVIDED ROADWAY. SO SOME DOLLARS HERE CURRENTLY USING FOR SOME LAND AND SOME REDESIGN FOR AROUND ABOUT THE INTERSECTION OF COLEMAN AH, THE BIGGEST PROJECT THAT WE PUT ON HERE IS THE LEGACY PRAIRIE TO FIRST STREET. THAT WAS ACTUALLY A PROJECT THAT WE DIDN'T HAVE SLATED UNTIL THE YEAR 2026 2027 DURING WITH THE C I P SUBCOMMITTEE, UH, AND SOME ADDITIONAL FUNDING FACT FOUND THROUGH THE CAPITAL DEDICATED FUND AND SOME ADDITIONAL DEBT.THAT PROJECT $10 MILLION. YOU'LL SEE THERE WAS ALLOCATED TO BEGIN CONSTRUCTION THAT PROJECT.
HISTORICALLY, THE COUNCIL HAS BEEN REAL GOOD ABOUT DESIGNING PROJECTS AHEAD OF SCHEDULE MOVING MOVING IN TOWARDS RIGHT AWAY ACQUISITIONS UTILITY RELOCATIONS AND THEN TRY TO GET THEM SO MUCH SHOVEL READY FOR CONSTRUCTION. AND WE'RE FORTUNATE THAT PROJECT WAS IS ESSENTIALLY READY TO GO, SO WE'LL BE MOVING SHORTLY ON THAT PROJECT, AND THAT'S IF ANYBODY LIVES ON THE WEST SIDE OF TOWN. THAT'S ESSENTIAL PARTICULAR ANOTHER PUNCH THROUGH DOWN TO 3 80. IF NOT, YOU'RE GOING DOWN TILL OR YOU HAVEN'T GOT ALL THE WAY THAT WHOLE WAY. SO WE'RE
[00:35:05]
EXCITED ABOUT THE COUNCIL. THE SUBCOMMITTEE MOVING OUT THOSE DOLLARS, UP ALMOST THREE YEARS AHEAD OF SCHEDULE. AH THE FISH TRAP TILL TWO G. SOME OF THOSE ARE THE DOLLARS TO FUND THAT PROJECT THAT'S ACTUALLY GETTING CLOSE TO COMPLETION. AGAIN THAT'S OUT THERE ON THE WEST SIDE. WE HAD A REIMBURSEMENT TO THE SCHOOL DISTRICT FOR THEIR SEGMENT OF FISH TRAP OR FIRST STREET THEY BUILT IN FRONT OF RUSSIAN MIDDLE SCHOOL. UM WE HAVE THE NEXT THREE PROJECTS OR LIKE I MENTIONED, UH, KIND OF A STRATEGIC PLAYING THIS COUNCIL PUT TOGETHER YEARS AGO OF FUNDING, UH, RIGHT AWAY ACQUISITION FOR PROJECTS ONCE WE WERE FAR ENOUGH ALONG IN DESIGN, AND THAT FIRST PROJECT, THERE'S COIT FIRST FRONTIER. THAT'S ULTIMATELY GONNA BE FOUR LANE.THAT WE HAVE. WE'VE HAD UNDER DESIGN FOR SOME TIME. THERE'S SOME MONEY THERE TO CONTINUE THE RIGHT AWAY ACQUISITION FOR THAT PROJECT IN THE FUTURE, AS WELL AS COLEMAN, THE NEXT FEW PROJECTS ALL THE WAY FROM GORGEOUS DOWNTOWN UP TO TALENT, WHICH IS NEXT TO THE PROSPER HIGH SCHOOL, WIDENING IT TO FOUR LANES. AND THEN THE NEXT ROAD IS PARVIN 13 85 THE LEGACY WE HAD SOME MONEY SET ASIDE THERE TO HELP PAY FOR THE TERM ASPHALT IMPROVEMENTS. I BELIEVE FRANK MENTIONED THAT SELENA SAID. THEY'LL BE DONE IN OCTOBER. THERE'S MAYBE SOME KIND OF SORT.
SO THE COUNCIL ALLOCATED ABOUT A HALF A MILLION DOLLARS TOWARDS THAT. I THINK IT'S A LOT OF PUTTING A LITTLE OVER 2 MILLION UH, SO WE CAME OUT AHEAD OF THAT, AND ALSO ONCE IT'S DONE, THAT WILL BE A MUCH IMPROVED ROAD CONNECTION THERE ON THE NORTH SIDE OF TOWN, AS WELL AS IT'S ALL SAID, AND DONE. THAT'LL BE SOLANAS TO MAINTAIN. AND IN FRONTIER TO CONTINUE KIND OF PUSHING AHEAD ON THE DESIGN ASPECT FROM THAT PROJECT, WHERE IT TURNS INTO FRONTIER.
DEPARTMENT CHANGES NAMES FROM LEGACY OVER THE D N T. WE HAVE MONEY THERE IN PARTNERSHIP WITH SELENA START THE DESIGN AGAIN, TRYING TO GET AHEAD OF START THAT PROCESS FOR THAT PROJECT.
NEXT ONE FISH TRAPPED ELEMENTARY TODAY AND TEAGUE AND THAT'S THE CONSTRUCTION PROJECT YOU SEE OUT WEST THAT'S MOVING RATHER GOOD OR NICE OUT THERE, WEST. THE TOLLWAY FUNDING FOR THAT, AND THEN SOME ADDITIONAL DOLLARS FOR THE FISH TRAP AND YOU CONSTRUCTION PROJECT ON THE WEST SIDE OF TOWN. WE HAVE A COUPLE DEVELOPMENT AGREEMENT PROJECTS FOR SOME DOWNTOWN STREETS. WE DID THE TELL US 3 80 INTERSECTION IMPROVEMENTS PROJECT. WE NEED SOME ADDITIONAL DOLLARS THAT WERE ALLOCATED THAT'S GOT COMPLETED THIS YEAR. I THINK IT'S HELPED THE LITTLE BIT OF THE TRAFFIC THERE ON 3 80 TEAL UM DO WE HAVE SOME ADDITIONAL FUNDING THAT WE NEEDED FOR THE FIRST THREE COIN TO CUSTOMER PROJECT? DO SOME TURN LANE OR ADDITIONAL LANE, THEIR COURT ROAD NORTH OF THE INTERSECTION. UH NO DESIGN PROJECT THAT THE COUNCIL ADDED TO US ABOUT HALFWAY THROUGH THE YEAR WAS FIRST STREET FROM COLEMAN TO CRAIG. THEY SAW THAT.
HEY WE'RE GETTING READY TO GO TO CONSTRUCTION WITH FIRST RATE FROM THE TOLLWAY OVER TO COLEMAN WITH FOUR LANES AND WE'RE GONNA HAVE FOUR LANES ON THE OTHER SIDE. SO IT'S TIME FOR US TO LOOK AT DESIGNING. UH THE LEG IN BETWEEN. SO WE'RE THEY'VE PROVIDED FUNDING FOR THAT.
ANOTHER TRANSPORTATION IMPROVEMENT PROJECT IS QUITE ROAD IF YOU TRAVEL COURT ROAD AND YOU GET TO 3 80, SOMETIMES DURING PEAK. I KNOW, UH, CHIEF BLASTING GAME IS BROUGHT THIS ONE TO OUR ATTENTION DURING ONE OF OUR COMMITTEE MEETINGS. JUST GONNA DO A LEFT TURN LANE THERE, SO WE HAD MONEY FOR THAT TO DO THE DESIGN AND ACTUALLY, WE'RE GETTING READY TO MOVE FORWARD WITH CONSTRUCTION OF THAT HERE SOON, SO HOPEFULLY GET SOME MORE THROUGHPUT AT THAT INTERSECTION.
UM AND PARK PROJECTS. UH DAN BAKER. DIRECTOR PARKS ARE EXPECTED TO MISSPEAK. YOU CAN CORRECT ME, BUT WE'RE GETTING READY TO WORK ON THE WEST SIDE WATERLINE TRAIL CONNECTION PROJECT WHEN WE'VE GOT THE 1ST 9 MILLION TOWARDS THE RAYMOND COMMUNITY PARK, WHICH IS ON THE CORNER OF COIT AND FIRST STREET. AND THEN THERE'S A MILLION DOLLARS ON FACILITIES. TO START WORKING ON THE SOME ONE OF THE FIRST PHASE OF THE PARKS AND PUBLIC WORKS PARKING LOT, WHICH IS LOCATED JUST WEST OF WEST OF DOWNTOWN ON FIFTH STREET ACROSS THE RAILROAD TRACKS. LOOKING AHEAD WITH THIS BUDGET. YOU CAN SEE THE WE WERE LIKE I MENTIONED WE'VE GOT FIRST THREE D AND T TO COLEMAN. THAT'S AN $18 MILLION PROJECT. WE'RE GONNA START THAT. WE'VE GOT 9 MILLION OF THAT ALLOCATED FOR IT. WE'RE LOOKING AT ADDING FEW DRIVEN IN LEGACY. IF YOU LIVE ON STAR TRAIL, WE'VE GOT SOME MONEY THAT WE'RE REQUESTING TO IMPROVE. THE ASPHALT CONNECTION GOES FROM STAR TRAIL DOWN TO FIRST STREET. WE'RE GOING TO TAKE THAT AND MAKE THAT CONCRETE. UH, TWO LANES THERE. TILL PARKWAY FROM US 3 82 1ST STREET. THAT'S WHERE HIGH SCHOOL PROSPEROUS BUILDING THEIR HIGH SCHOOL NUMBER FOUR. IT'S TWO LANES. TODAY THEY WILL BE BUILDING THE OTHER TWO LANES OF JR WILL BE BUILDING THE OTHER TWO LANES ADJACENT TO THE HIGH SCHOOL, AND YOU CAN SEE OFF TO THE VERY FAR RIGHT. THERE'S KIND OF A NON TOWN FUNDING. AND THAT'S THE COST PARTICIPATION FROM THE SD TO MAKE THAT PROJECT HAPPENED. INCLUDING THAT PROJECT . THERE'S A COUPLE A COUPLE
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TRAFFIC SIGNALS THERE TO SUPPORT THE TRAFFIC THAT WE KNOW THE SCHOOL IS GOING TO BRING ONE OF THEM, ONE OF THEM BEING FIRST IN ARTEMISIA. AND THE OTHER ONE WILL BE TEAL AND PRAIRIE AND THE DOLLARS THAT YOU SEE HERE FOR THE DESIGN THIS YEAR. WAS COMING BUDGET HERE. WE'RE ALSO LOOKING AT DOING SOME TRAFFIC SIGNAL MODIFICATIONS THE DNT IN FRONTIER PARKWAY. UM IN THE NEXT PROJECT. WE'VE GOT THE ADDITIONAL DOLLARS FOR THE RIGHT AWAY. QUITE ROAD. FIRST FRONTIER IN A COLUMN COUNTY GRANT THAT WE RECEIVED ACTUALLY BLOW OUT THE INTERSECTIONS ON COY ROAD AT FIRST STREET PROSPER TRAIL IN FRONTIER PARKWAY. IF YOU'VE BEEN AROUND PROSPER LONG ENOUGH WHEN WE DIDN'T HAVE A LOT OF THIS MONEY THAT WAS KIND OF THEIR MODE OF HOW WOULD YOU HANDLE THE TRAFFIC IS WE WOULD GO IN AND WE'D TRY TO BLOW OUT THE INTERSECTIONS FIRST AHEAD OF DOING ANYTHING ALONG THE MAJOR LENGTH OF THE ROADWAY. SO AHEAD OF THAT, UH, EXPANSION OF COURT ROAD FROM FIRST RATE ALL THE WAY TO FRONTIER USING THOSE COUNTY DOLLARS. WE'RE GOING AT LEAST GO IN THERE AND BLOW OUT THE INTERSECTIONS TO MAKE THEM MORE EFFICIENT. AND THEN I MENTIONED, UH, WE'VE GOT WEATHERS OF USC 3 80 DECELERATION LANES. AND I MISSED IN THE STAR SHELL ROAD REPAIRS EARLIER. AH PARK PROJECTS, THE OTHER 9 MILLION IN SOME ADDITIONAL DOLLARS FOR THE RAYMOND COMMUNITY PARK. THEY'VE GOT A FINAL PAYMENT FOR THE LAND OUT WEST ON ONE SONG. THE WINDSONG RANCH COMMUNITY. PROSPER TROLL SCREENING PROJECT I MENTIONED EARLIER AS WELL AS THE FRONTIER PARK CON REPAIRS. AND THAT'S FOR FACILITY PROJECTS THIS YEAR, THE BULK OF THE MONEY FOR FIRE STATION NUMBER FOUR UH , THAT IS LOCATED. IF YOU'RE NOT FAMILIAR, IT'LL BE JUST WEST OF COCKEREL ELEMENTARY. AND THEN THEY FINISHED OUT OF THE INTERIOR SPACE IS A TOWN HALL THAT I MENTIONED EARLIER. AND THEN AGAIN, LOOKING AHEAD. THINGS ON THE RIGHT ARE SKINNY.THIS IS STILL IN THIS YEAR. FY 2024 BOB TOUCHED ON THIS. THE WATER AND WASTEWATER IS HUGE.
THIS COMING YEAR. THERE'S A LOT OF THOUGHT OF INFRASTRUCTURE AS YOU CAN IMAGINE, UH AND THERE'S WON'T GO INTO DETAILS, BUT THIS IS THE WATER AND WASTEWATER PROJECTS. SEE HERE IS ALMOST $83 MILLION. SO NOT JUST A NOT JUST HELP OUR WASTEWATER NEEDS, SINCE, UH THAT IS, UM OFFSIDE WASTEWATER TREATMENT PLANT EXPANSIONS THAT ARE NEEDED. BUT THE LARGE WATERLINE SERVICE AND PUMP STATION TO PROVIDE WATER SERVICE ALL THROUGH TOWN. LOOKING AHEAD. UH, IN THE 2025 CONTINUATION OF FIRST STREET. UM AND THEN SOME SOME SOME CONTINUATION OF SOME ROADS OUT WEST WITH LEGACY. UH, FIRST TO PROSPER BETRAYAL. AH CONSTRUCTION DOLLARS FOR GORGEOUS COLEMAN FROM GORGEOUS UP TO TALON. THAT PROJECT HAD MENTIONED EARLIER WORKING ON THE RIGHT AWAY. THEY GAVE SOME RIGHT AWAY DOLLARS TOO. TO GET THAT READY FOR CONSTRUCTION. THIS WOULD MOVE IT UP A YEAR FROM 2026 UP TO 2025. AH, DOING SOME INTERSECTION, IMPROVEMENTS AT FRONTIER PARKWAY AND DNT AGAIN AHEAD OF EVER DOING ANYTHING WEST OF THE DNT ON FRONTIER PARKWAY. AS FAR AS EXPANDING THE ROAD. THIS WOULD ALLOW US TO BLOW AGAIN. BLOWOUT THAT INTERSECTION BY US A LITTLE TIME BEFORE WE NEED TO GO IN AND BUILD A WHOLE FOUR LANES WEST OF THE DOORWAY. AND THEN THE TWO TRAFFIC SIGNALS I MENTIONED TO SUPPORT THE HIGH SCHOOL NUMBER FOUR. THESE ARE THE DOLLARS FOR CONSTRUCTION. AND THEN THE QUIET ZONE ON FIFTH STREET I MENTIONED EARLIER WOULD BE FUNDED IN 2025. AS WELL AS THE THERE'S A PLACEHOLDER POTENTIAL FOR A PAYMENT ON THE TO FOR SOME IMPROVEMENTS THEY DID. AND THEN LASTLY, THE FIRE STATION NUMBER FOUR REMAINING BUDGET DOLLARS OF 1.5 MILLION TO COMPLETE THE FUNDING FOR THAT PROJECT.
THERE'S A LOT OF INFORMATION THERE LOT OF DETAIL. BE GLAD TO ANSWER ANY QUESTIONS ANYONE HAS ON ANY OTHER PROJECTS. YES. AS AS 3 80 YEARS DEVELOPED IN, UH WEST OF THE TOLLWAY. TWO. THE, UH WEST END OF PROSPER. THERE'S GOING TO BE NEED FOR CONSTRUCTION TRAFFIC RELIEF, PROBABLY NORTH OF 3 80. WHICH WOULD PUT A DEMAND ON EAST WEST TRAFFIC IN PROSPER. AH I KNOW IT'S A LOT OF THE PROJECTS UP THERE, PROBABLY ADDRESSING THAT TO SOME EXTENT, BUT THE QUESTION IS, IS THERE AN OPPORTUNITY? THEREFORE, SOME FEDERAL HIGHWAY FUNDS OR OTHER UH, MONEY IS AVAILABLE. BECAUSE THE IMPROVEMENTS ARE REALLY SUPPORTING THAT 3 80 PROJECT SHOULD WE MAKE THE ARGUMENT THAT BECAUSE WE'RE GOING TO PROVIDE RELIEF IN TERMS OF THAT THE IMPACT OF THAT PROJECT THAT SOME OF THE FEDERAL MONEY SHOULD BE MADE AVAILABLE? NOW THAT'S THAT'S A GREAT QUESTION. WE ACTUALLY YOU KNOW, I MENTIONED FIRST STREET FROM THE DNT WEST, YOU KNOW, BEFORE WE REALLY KIND OF KICKED THAT PROJECT OFF, WE DID IT. YOU KNOW IN PIECES, BUT
[00:45:06]
WE DID GO ACTUALLY TO COG AND TRY TO SECURE SOME FUNDING FOR THAT, BECAUSE YOU'RE ABSOLUTELY RIGHT. YOU KNOW, IT IS UNFORTUNATE THAT WITH ALL THE 3 80 CONSTRUCTION, THAT'S WHERE PEOPLE ARE GOING. I KNOW WE WEREN'T WE. WE HAVEN'T BEEN SUCCESSFUL AND GETTING ANY FUNDS TOWARDS THOSE PROJECTS, BUT DO THEIR IMPORTANT IMPORTANCE. WE JUST THAT PUSHED ON KNOWING THEY HAD TO BE DONE, AND THAT'S WHETHER THAT'S WHY THEY'RE UNDER CONSTRUCTION NOW, BUT ANY TIME THERE'S AN OPPORTUNITY TO GO CHASE DOLLARS. UH I SHOULD HAVE ADDED WE SHOULD HAVE KITCHENS TO SEEK TO THAT ONE SLIDE, KAZUMI, WE'RE CHASING IT EVERYTHING WE CAN, BUT YEAH. KEEP PUSHING. ANY QUESTIONS FOR BOB? HAVE A QUESTION? YES, SIR. YOU KNOW, YOU TALKED ABOUT 35% OF OUR BUDGET IS GOING TO DEBT SERVICE. I'M JUST CURIOUS BECAUSE BECAUSE I'M NOT A CITY GUY. WHAT WHAT'S THE BENCHMARK OTHER CITIES LIKE US? WE'RE LIKE DOES THAT GO FROM 35 TO 50? SOMEDAY THE I CAME FROM A WHAT'S KNOWN AS AN INNER RING SUBURB. OKAY TO THE SOUTH AND WEST OF HERE. SPENT 31 YEARS THERE. OUR POLICY WAS NO MORE THAN 40. FOR DEBT SERVICE. SO THE 35 AS WELL WITHIN THAT I WILL TELL YOU. OUR PER CAPITA DEBT LEVELS ARE HIGH. AH RELATIVE TO MANY OTHER CITIES BECAUSE OF WHERE WE ARE IN OUR GROWTH CYCLE. NOW WHAT WE'RE DOING IS WE'RE MANAGING IT. AND . AH RIGHT NOW, IF WE GO OUT WHAT? WHAT? I HAD ALWAYS DONE IT. MY OTHER CITY. IS WHEN WE DID A BOND ELECTION. WE WOULD ALWAYS MAKE IT A NO CATCH RATE. UM BOND ELECTION WHERE THERE WOULD BE NO TAX RATE INCREASE. AND THE WAY YOU DO THAT. IS AS YOUR DEBT SERVICE YEAR OLD DADDY ISSUES MATURE AND YOU PAY THEM OFF. THEN THAT FREES UP CAPACITY AND THEN AS YOU'RE A V GROWS, THAT FEEDS FREES UP CAPACITY. BUT WHAT IT ALSO DOES IF YOU HAVE A NO TAX RATE INCREASE ON YOUR DEBT SERVICE. AND YOUR DEBT SERVICES PAID 100% FROM YOUR ASSESSED VALUATION. THEN IT PROVIDES A NATURAL LIMIT ON HOW MUCH YOUR DECK CAN GROW RELATIVE TO YOUR ASSESSED VALUATION. AND WE HAVE A FINANCIAL POLICY THAT SAYS NO MORE THAN 4. OF OUR OF. THERE CAN EQUAL NO MORE THAN 4% OF OUR ASSESSED VALUATION. WERE A LITTLE OVER THREE RIGHT NOW. BUT I THINK IT IS. TIME GOES ON.WE'LL BE ABLE TO MANAGE THAT RIGHT AROUND THAT 3. AND THEN ONCE WE GET PAST THIS $210 MILLION BOND ELECTION. I DON'T EXPECT THE NEXT BOND ELECTION TO BE AS BIG AND YOU WILL PROBABLY SEE OUR ISSUES COMING DOWN A LITTLE BIT AS WE GET THAT INITIAL, UH, BLOCK OF INFRASTRUCTURE CONSTRUCTED. SO IT'S NOT MOST ON SO ONE MORE QUESTION. YES, SIR, RELATED TO BOND ISSUE. I'M JUST I'M CURIOUS ABOUT HOW MARKET INTEREST RATES EFFECT. OUR ABILITY TO ISSUE OUR BILL. YOU KNOW HOW THAT AFFECTS OUR DEBT SERVICE RATE. YEAH. LOCAL GOVERNMENT HAS A TREMENDOUS ADVANTAGE IN THAT THE DEBT WE ISSUE IS EXEMPT FROM FEDERAL TAXATION, MEANING THAT PEOPLE WHO BUY OUR DEBT THE INTEREST. WE PAY THEM. THEY DON'T HAVE TO PAY FEDERAL INCOME TAXES ON THAT INCOME. WHICH HELPS KEEP RATES REASONABLE. WE ACTUALLY JUST SOLD A LITTLE OVER $50 MILLION WORTH OF BONDS. THIS LAST WEDNESDAY. AND ON THE GEO SIDE, WE WERE ABLE TO GET A 3.89. AVERAGE INTEREST RATE. AND THEN ON THE C E. O S, WHICH IS WHAT WE USED FOR THE UTILITY FUND. IT WAS STILL UNDER 4, BUT JUST BARELY. SO A LITTLE BIT HIGHER ON THE UTILITY DEBT. BUT THAT'S STILL REASONABLE. THAT'S A REASONABLE COST OF CAPITAL. UH TO ALLOW US TO PUT THIS
[00:50:06]
INFRASTRUCTURE IN PLACE. SO RIGHT NOW, THE RISING INTEREST RATES HAVEN'T OVERLY AFFECTED US. MHM ALSO, I FAILED. TO INTRODUCE OUR COUNCIL MEMBERS WHO ARE HERE TONIGHT. SO, UH, CHARLES IS SHAKING HIS HEAD, MR PURPLE SHIRT, AND THE BACK IS CHARLES COTTON. THERE YOU GO.AND THEN WE HAVE, UH, COUNCIL MEMBER KEARNS. AND MARCUS RAY COUNCIL MEMBER RAY AND I WILL SAY IF I HAVE A POLICY OF NEVER OVER DRESSING MY BOSSES, AND THEY ALL CAME IN SHORT, AND I WISH I HAD KNOWN BECAUSE I WOULD NOT BE DRESSED IN A SUIT IF I HAD KNOWN HOW THEY WERE. YEAH YEAH, SO AND THEN ALSO HERE TONIGHT, BUT HE IS DRESSED A LITTLE MORE APPROPRIATELY THAN OUR COUNCIL. UH, MARIO MONTEZ HEIRESS OUR TOWN MANAGER. ANY OTHER QUESTIONS. AS YOU CAN SEE , THERE'S A LOT GOING ON, AND A LOT OF PROJECTS WERE CURRENTLY WORKING ON. BUT. WE VERY MUCH WANT TO BE, UM IN TUNE WITH THE COMMUNITIES, SO PLEASE ASK THOSE QUESTIONS. CONTINUE TO BE INVOLVED AND GIVE US YOUR FEEDBACK. AND. ONE OF THE PROBLEMS WITH A TOWN OF 40,000.
AS YOU CAN'T ALWAYS PLEASE. EVERYBODY. BUT UH, WE CERTAINLY TRY TO TRY TO AND WE TRY TO HIT THAT BALANCE OF MEETING THE NEEDS OF MOST OF OUR CITIZENS SO ANY ANY OTHER COMMENTS QUESTIONS ? COUNCIL MEMBERS. DO YOU WANT TO SAY ANYTHING? SOME MAY HAVE QUESTIONS AND YOU MAY WANT TO EXPLAIN A LITTLE BIT ABOUT WHEN WE GO AND SELL BONDS INTRINSIC VALUE THAT WE HAVE, AND THE DEBT THAT THE PHILOSOPHY THAT COUNCILS ADOPTED TO PAY DOWN DEBT, SO WE STAY WITHIN THOSE LIMITS AND CAN GET THE RATINGS THAT WE WANT SO UM MAYBE NOT. EVERYBODY KNOWS THAT. BUT MAYBE SOMETHING TO HIGHLIGHT FOR THOSE WHO ARE LISTENING. WELL WHAT ONE THING I WILL SAY IS. THAT I DIDN'T MENTION EARLIER AND I SHOULD HAVE BRAG ON PROSPER A LITTLE BIT ARE BOND WRITING IS DOUBLE A PLUS. WHICH IS THE SECOND HIGHEST RATING YOU CAN HAVE. AND ACTUALLY, I WAS VERY PLEASED WITH THE RESULTS OF THIS SALE AND THE AS I WAS TALKING TO OUR FINANCIAL ADVISOR. MY COMMENT WAS ARE BONDS AT. 389 REALLY PRICED CLOSER TO A TRIP AWAY THAN A DOUBLE A PLUS. AH! AND WE GOT 12. UNDERWRITING FIRMS BID ON OUR GEO AND I THINK WE HAD A BID ON OUR UH, CEOS, CERTIFICATES OF OBLIGATION AND BASICALLY WHAT THAT SHOWS IS WE'RE VERY DESIRABLE CREDIT AND PEOPLE WANTED OR DEBT. SO THAT WAS VERY MUCH TO OUR ADVANTAGE. BUT ONE OF THE REASONS FOR THAT IS BECAUSE AS MARCUS REFERRED TO IS WE'VE SET IN PLACE. A WHOLE SERIES OF FINANCIAL POLICIES ARE MENTIONED A COUPLE OF THEM, UH, WE WILL NOT LIVING MORE THAN 40% OF OUR TAX RATE FOR DEBT SERVICE . I PERSONALLY LOOKING FORWARD DON'T THINK WE'LL HAVE TO GET ANYWHERE NEAR THAT. BUT WE'RE AT 35% NOW AND NO MORE THAN 40. AND OUR DEBT CANNOT EQUAL MORE THAN 4% OF OUR SESS VALUATION, SO WE PUT SOME NATURAL LIMITS ON THE DEBT. AND AS YOU CAN TELL AS HUMAN TALKS WE TRY TO TAKE A LONG VIEW OF THE DEBT ISSUANCE IN TERMS OF PLANNING IT OUT AND KEEPING STABLE RATES TAX RATES.
AND AS WE ISSUE AND SO AS WE'VE LOOKED FORWARD OUR TAX RATE IS VERY SUSTAINABLE. WE DON'T THINK WE'RE GOING TO HAVE TO GO A WHOLE LOT HIGHER THAN WE ARE NOW TO DO OUR DEBT PROGRAM. AND, UM
[00:55:04]
. WE UNDERSTAND THAT WE HAVE HARD AT LEVELS BECAUSE OF WHERE WE ARE IN OUR GROWTH CYCLE, BUT WE ALSO ARE COMMITTED TO MANAGING IT OVER TIME AND THE VIBRANT ECONOMY WE HAVE HERE IN PROSPER. HAS REALLY HELPED WITH THAT, AND, UH MAKES IT EASIER TO MANAGE. DO YOU WANT TO SAVE JUST ONE THING ON THESE PROJECTS AND ANY OTHER PROJECTS? WE'VE GOT GOING AROUND TOWN. YOU CAN FIND THEM ON THE TOWN'S WEBSITE UNDER ENGINEERING. YOU'VE GOT CONSTRUCTION UPDATES, AND WE'VE GOT A PRETTY GOOD DASHBOARD THERE THAT GIVES UPDATES. I THINK YOU CAN STILL GET IT ON YOUR PHONE. IF YOU'VE GOT THE PROBLEM, MY PROSPEROUS TOO, SO DO YOU EVER HAVE ANY QUESTIONS ON ANY OF THOSE PROJECTS? PLEASE FEEL FREE TO GIVE US A CALL? VERY GOOD. THANK YOU.* This transcript was compiled from uncorrected Closed Captioning.