Item 01: Fiscal Year 24 CIP Projects & Issuance of Debt

[COSM_Admin]

Receive a Staff presentation regarding approved FY24 CIP Projects and related funding; including proposed issuance of debt - 2024 Certificates of Obligation Issuance.

 

[JHughson]

The packet I downloaded showed "out of memory" on page 5. I was able to review it online only.

Please provide the spreadsheet that begins on page 27.
Is there a list of the projects that are being deferred with the reason why deferred?

 

[COSM_Admin]

Response provided by Shaun Condor, Director of Engineering & Capital Improvement:
Spreadsheet is attached. It identifies projects that are deferred. Projects are deferred for several responses such as staff capacity and/or timing of other related projects/development. The majority of projects deferred fall into these categories. There is not a list of specific reasons for every single deferred project.

This will be discussed during the presentation, but for the FY 2024 list, the 3 biggest deferred projects are:

• 555 - Highway 80 Utility Project
  • Project has been slowed down so we can re-apply for Texas Water Development Board funding in hopes of reducing how much impact fee funding is required to fund construction.
• 795 - Airport - DOL Land Acquisition
  • Staff is waiting for an appraisal from the Department of Labor to specify how much the City is going to have to pay for the land.
  • An appraisal is expected within the next month or two based off our latest correspondence with the DOL. Once the appraisal is received, we will cancel any unused funds.
• 718 - UPRR Quiet Zone - Uhland Rd. Quad Gates
  • The project is receiving $1.324 M in ARPA funding.
  • Staff is deferring $1M in General funds until we can confirm the ARPA funding will cover the full project cost. UP is expected to provide a cost this summer and staff will release funding not required to complete the project at that time.