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 Great. We'll kick off the meeting of the Bond Oversight Committee and Brandon, if you want

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 to introduce the first item. I will. Item A is consider the approval of the draft meeting

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 minutes of January 16, 2020. I hear a motion. I'll move approval. I have a motion. Anyone

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 second? I'll second. So we have a motion and a second. Any discussion? And then do

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 we want to just ask for nays? David, is that appropriate? I think that's fine, yes. Is

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 there anybody that doesn't approve the meeting minutes? Hearing none, motion passes. Item

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 B, receive nominations and elect a vice chairperson of the Bond Oversight Committee. Good afternoon.

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 At the last meeting, we did vote on a vice chair, but because we were only posted for

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 the chairperson, we brought this item back on this agenda so that you could formally

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 vote on a vice chair. So obviously could welcome any nominations at this time. I'll nominate

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 Brandon McCleskey. I'll second. So we have a motion and a second to nominate Brandon

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 McCleskey as vice chairperson. Any discussion? Anybody opposed? Hearing none, motion passes.

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 Item C, receive a report, hold a discussion and give staff direction regarding the general

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 obligation funded capital projects. Great. Well, with this item, you had the items that

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 we traditionally bring forward at each one of the Bond Oversight Committees, the agenda

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 information sheet, which had had a status update on each one of our bond program projects

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 from the 2012, 2014, and 2019 bond programs, and our bond oversight report, the spreadsheet

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 that walks forward our current budgets for each of those projects, our expenditures,

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 encumbrances, and the remaining balances. We also have our bond issuance timelines that

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 have been updated that are included in this item. I know it's been obviously a number

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 of months since we met due to COVID and changing our format of the meeting. So we have a lot

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 to go through. So what we've done for this item is we have three separate presentations

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 for our streets projects, our facilities projects, and our parks projects. So we'll have Todd

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 Estes go through the streets projects in one presentation, Gary Packin for the parks projects,

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 and then Scott Gray, our director of facilities, will go through the facilities PowerPoint projects.

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 Obviously we can take questions for each of those presentations as we go through them.

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 Or if you have any questions on the status reports or the bond oversight report itself,

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 we have staff available to answer any detailed questions as well. So unless there's any initial

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 questions, I'll hand it over to Todd Estes I believe will be first and we can go through

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 them. Is Todd here yet David?

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 This is Ethan Cox, general manager of public works. I just got a notice from Becky that

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 Todd is running a little late and be there about 1145.

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 Okay. Why don't we skip to Gary then.

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 Okay Gary Packin director of parks and recreation. Can everybody hear me?

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 We can hear you Gary. Okay, perfect. All right, so we have a number

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 of staff here as well that they can chime in, but I'm going to go through these slides

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 and if you have any questions, feel free to ask. Next slide. We've been pretty aggressive

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 over the past few years with our playgrounds. In 2018, we created a playground replacement

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 plan that outlines every playground in the park system, what company it is at square

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 footage, what year it was installed. Typically playgrounds have a 15-year lifespan. So we

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 use that as the template the follow. Obviously sometimes playgrounds need to replace sooner

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 based on vandalism. If they're in the sun, they degrade faster and how much use. If they're

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 in the shade, they may last a little bit longer. So we have playgrounds that are in need of

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 replacement probably sooner than 15 years. We have some that are older than 15 years

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 that we could keep pushing forward. It may not need to replace as soon. We have replaced

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 all the playgrounds in the original bond program except for McKenna. There was some discussion

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 a few years ago about McKenna being an inclusive playground. With the topography of that site,

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 we felt that that might not be the best location. And we actually, during our master plan meetings

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 last year, we met with the community and talked about locations. We talked about Southwest

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 Park for that inclusive playground and North Lakes Park. And they liked North Lakes Park

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 better because of its accessibility with a bus route. But regardless of that, McKenna

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 is under design right now. What you see this blue one on the top is the replacement playground

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 for McKenna. We have received quotes on that and we're ready to take that to City Council.

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 So we are moving forward to get that one done. We would like to request in a later item that

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 the funding for McKenna be redirected to other playgrounds. We do have a lot of our land

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 dedication and development funds in that park area. So we'd like to use that first and then

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 reallocate that money for other playgrounds in the park system. And that's another agenda

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 item for you guys to consider. We are replacing some other playgrounds in addition to the

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 ones on the bond committee list as well. Joe Skiles being one that's part of that agenda

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 item and possibly the design for an inclusive play structure, which I can provide in item

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 E. Next slide. This park improvements, Lake Forest, Milam, they were completed. That money

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 was actually reallocated to another project for the tennis courts because this was completed

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 through a donation. Next slide. The South Lakes tennis courts have been, they were designed,

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 we've been waiting on the completion of the design for the North Lakes tennis center.

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 We needed to go back and do some additional design on these courts. So that's being done

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 right now. So there's a slight delay there. So those would get bid out hopefully this

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 fall. There will be two additional courts there with additional lighting possibly put

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 on the existing courts pending funding availability. Property acquisition. Last March, we, we were

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 we began creating a database of land throughout the city that we could use to work from to

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 identify where we may want to buy land. Right around that same time, city council adopted

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 a 10 minute walk as a policy for the department. And that initially is giving us guidance to

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 identify where we need land to make sure that park space is available to every resident

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 with a 10 minute walk or a half mile. So that's kind of the standard that we're using to help

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 us identify where we need to, where we need to identify future parkland. So with council,

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 we went to council last March and provided kind of a philosophy on how we look at land

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 and how we prioritize land based off of acreage costs, the tree stand, the type of trees on

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 the property, location to other assets in the city, schools, other parks, trails, those

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 types of things, and use that to start identifying where that land could be. Then unfortunately,

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 we hit COVID and we tightened up the budget for the city and that money was kind of put

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 on hold until further notice. And then just recently we were given approval to move forward

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 on that. So we are going back to city council in August. We're updating that spreadsheet

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 and a PowerPoint to provide them a list of properties that we'd like to consider. Some

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 of those are for purchase and some of those properties are in acquisition through development,

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 through our land dedication and development process. So some of those will be free to

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 the city and then some will have to pay. This funding was focused more towards South Denton.

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 So those are the, that's the area that we're looking at for this funding. Next slide. Southwest

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 Park Master Plan and Design. Coincidentally, Drew and I were out at the park this morning

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 with our consultants walking around and driving on four wheelers, exploring the property with

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 our development, our design team. We had a kickoff meeting earlier this month. We are

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 putting together a citizen focus group of neighbors, park users, those types of people

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 and we'll have a number of focus groups throughout this planning process and then we'll also

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 have a number of public meetings to gather feedback. We're tentatively scheduled to have

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 our first focus group meeting on August 20th, our first public meeting on August 27th. That

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 will be a Zoom public meeting. We have $1.2 million for the total cost of the project

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 itself. We've done some design work and some survey work. The contract for the actual consultant

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 is under $200,000. So we are asking for an additional $75,000 be redirected from this

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 project to our Parks, Recreation and Trail System Master Plan. That is item F on your

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 agenda so we can talk a little bit more detail when we get to that point. Next slide. The

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 spray ground. This was completed and dedicated in May of 2018. Very heavily used. Unfortunately,

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 this year we have not opened it yet because of COVID. It's rather small and you can see

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 the picture of the dedication down there. That's not quite six foot distancing. So we

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 have not opened up that facility. Staff has built restrooms adjacent to that. That was

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 part of a CDBG grant and that was completed this spring. Next slide. Trail system expansion.

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 This obviously has been completed and is heavily used. It passes our new dog park that we opened

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 back in December. We really actually designed the dog park around the curvilinear nature

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 of this trail that goes up to the animal shelter. It goes north up to North Point Park and then

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 it follows Cooper Creek. We are putting together as part of our Parks, Recreation and Trails

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 master plan system a number of trails throughout the city. This one would carry along Cooper

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 Creek. So we're looking forward to communicating with the public and getting some additional

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 feedback on that in the next few weeks. Next slide. The tennis under construction. This

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 is broken into two phases. The pro shop is under construction. That will be completed

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 in early 2021. We went back and forth with USTA a number of times in regards to the design

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 of the tennis courts to make sure that they were on board with everything we did and they

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 approved the design. We have reached out to them for a grant of $100,000 that would go

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 towards new facilities construction. So that is pending. We have not heard yet on that

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 one. But we were released to move forward on this this month as well. And that is going

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 to be going out to bid hopefully next 30 days. And this is this is the phase two that I just

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 talked about the bid process. The bond program did call for 12 courts. We've master planned

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 more than 12 courts so we could grow into that facility. And we did submit that $100,000

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 grant. One additional thing, we're working with a public art committee to eventually

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 put some public art within this facility. That has not been commissioned yet. So that's

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 on the list of things to do with the public art group. Next slide. Waterworks pool. Again,

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 this was opened and completed along with the concession stand shortly after. This has been

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 an operations we did not open our pools this year because of COVID. But it's it's ready

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 to open and for people to enjoy whenever we get post COVID for sure. Next slide. Bell

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 athletic complex. This project is completed and being used. We are working on a few last

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 minute additions to that we purchased some additional garbage cans, just park amenity

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 items, and we're working on signage, we're going to put an arch, as you can see through

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 the building, you see the playground down there in the bottom picture, there will be

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 an arch there that says G Roland Vela athletic complex, and then we'll have a historical

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 sign to let people know who, who Vela was or who Bella is, and what he did during his

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 career, as well as a decorative plaque on the building, just commemorating the building

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 itself when it was built and in those types of notifications. So we're putting some finishing

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 touches on that project. We will have a balance in that project that balance not all of it,

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 but some of it is bond committee money. We'll plan on coming back to you at the next meeting

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 asking for that balance to be relocated to another project. Once everything is completed

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 at Bella. Next slide. Lake Forest Park, Drew, Drew Huffman, our new assistant director actually,

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 has been working diligently on this project has been challenging, working with the engineering

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 on it, getting it ready for bid. The goal here is to dredge it and then to do some renovations

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 on the dam itself, which is the area on the bottom left of your picture. We do have a

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 trail that traverses on top of that, and then traverses throughout the entire park. The

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 pond will be dredged. We do have a lot of vegetation that grows specifically in the

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 heat of the summer on that northern section and starts to fill in the lake. And I'll let

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 Drew provide some additional information on Lake Forest Park. This is Drew Huffman, assistant

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 city director, Parks and Recreation. Like Gary said, we have been working very diligently

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 on this project. We will receive the final plans tomorrow from the engineers. We'll review

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 those final plans. Also with those plans will come all the specifications for us to be able

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 to bid that project out. We are waiting on TCEQ and the Army Corps engineers permitting.

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 It should be in, we expect those any day now. Those were all submitted back in March and

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 they normally take around 90 days to 120 days to get them completed. So we're really close

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 to those timelines. And we don't know exactly how COVID affected those two entities, but

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 we were told that we were anticipating those permits any day. And as soon as we get those

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 permits and all the plans are signed off, everything's ready to go for this to go to

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 bid so we can start construction in the fall.

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 Next slide. Open Space Land Acquisition. This is actually a 2019 bond program. The photo

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 that's in the slide is the property on Mills. This was purchased in December of last year

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 through funding from the Tree Fund. It was over $2 million. It's 70 acres, heavily treed

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 on about 70% of it or so, 75% ish. Lots of, lots of post oaks on that property, a nice

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 about four acre pond. Drew did go out there and make sure there were fish in there, just

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 to kind of demo that. So we're looking forward to this being a future park space. As of right

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 now, it is not open to the general public. There is an access road that you can see following.

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 It's actually in the top right hand corner of your, the photo, I don't know if you can

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 see my mouse or not, but it follows the tree line down the McKinney. It's a very narrow

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 driveway. We probably, probably could use it as an alternate entrance or exit, but we're

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 probably going to have to come off of Mills at some point in time. So we're looking to

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 get this on our five year capital plan for master planning, and then we'll need funding

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 for eventual park development at some point. This would be treated similar to Southwest

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 Park. This one would be more in nature theme, where we're not going to go through and clear

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 a tree. We're probably going to work around the trees, put in a lot of trails, the pond

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 enjoyment for people, and just general outdoor experience. But we'll go through an entire

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 design charrette with a focus group, as well as getting community meetings, getting input

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 for what those neighbors that live out there, what they want to see in that park long term.

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 Next slide. So that's, that's a brief overview on our bond related projects from 2014, 2015.

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 Love to answer any questions you may have about any of those projects or even anything

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 else within the park system. Tim? Yeah, I just had a question on timeframe for the completion

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 of the tennis courts at the North Lakes. So we're not 100% sure yet until we get the

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 bids back. You know, we were thinking it would be eight months or so, but really depends

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 on on each contractor, what their timelines are. So we're we're thinking they'd be done

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 somewhere between, you know, roughly by the end of 21. Okay, so you don't expect construction

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 to start until early 21, sometime in early 21. That's that's that's ballpark. You know,

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 if we go out to bid, let's say, just say August 1. It typically by time we go through the

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 bidding process, the evaluation, get it to council, it's two to three months, and then

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 we get the contract rolling, get them on site. So it probably be, you know, December, November,

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 December, before we get them on board. So it could be late summer, early fall of 21.

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00:21:17,920 --> 00:21:22,640
 But we can get you definitely a more detailed timeline once we look at the bids that come

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 in, in their timeframes. And you but you expect the building to be completed at the first

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 of the year, but but there would be no occupancy or use of the building until the courts are

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 complete. Is that right? That's correct. We may use it for staff in the meantime, while

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 we're shuffling people around trying to keep people separated a little bit. But the building

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 will be done ahead of the tennis courts. That is great. Okay, thank you. Are there any other

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 questions from the committee members? Not I've got one on the Gary on the Southwest Park

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 master plan and design. You talked about needing additional requesting an additional $75,000

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 to finalize the project. Is that going to be on top of the original 100? Or is that

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 the 75 that just hasn't been spent yet? So originally, I guess it was about a year or

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 so ago, we asked the committee for $100,000 to be reallocated from Southwest Park to the

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 Parks and Recreation Trail System master plan. We've used about 25,000 of that that was being

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 done in house. We did hire some consultants to provide some minimal input on various items

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 throughout the park system that utilize some of that 25,000. We were doing that internally

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 with staff between balance of our existing work. And that it took a lot of time, we had

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 30 public 3035 public meetings. And we've been working on it slowly. That staff member

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 left the organization in February, then COVID hit. We have been working on the plan, specifically

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 the trail section of the master plan with UNT during this timeframe. And we're looking

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 to have that public meeting in August. We had a pre bid meeting with consultants yesterday

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 to talk about the master plan. Their their bids are due at the first week of August.

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 At that point in time, we'll go through interview the top three or four companies. And then

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 once we select one, we'll negotiate pricing. At that point in time, I know exactly what's

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 going to cost to finish that for us. So we may not need all of that. I hope we don't.

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 But just because of timing with you guys meeting before we had that number, I asked for $75,000.

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 We definitely provide an update to you at the next meeting in regards to what that contract

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 amount is. And then if we need to bring some of that money back, we could definitely do

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 that. We're not going to spend it if we don't need it for that project. We don't think with

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 the scope of the work for the Southwest Park master plan that we need $1.2 million, that

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 is not going to be enough to do this the construction drawings for that park. We do not have funding

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 for it. We could possibly use some of that money for a phase section of that park. But

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 until we get that park entirely master plan, I can't tell you exactly what phases will

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 be first and what estimated cost would be. Okay. I just had one other question too on

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 the veil of soccer complex and the monuments, sculptures that are going to be constructed

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 out there. I was looking in the narrative and it was talking about where some of the

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 different funding was coming from for those projects. So my question was going to be in

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 line with had the public art committee identified, have they already identified where they're

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 going to spend their remaining funds from the bond, I believe the 2014 bond. And I know

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 that we had noticed, I don't know, maybe 10 to 15 different projects they were going to

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 spend that money on at different places. Can we, if they've already identified that money,

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 that's one thing. But if they haven't, does it make sense to fund the sculptures out of

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 the public art committee funds and keep park funds out of that?

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 So if I'm understanding correctly, if we could use the park funds first on that project and

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 then let the public art committee use that money for another project, is that what you're

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 talking about? Exactly the opposite. Okay. Okay. So as of right now, the sculpture portion

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 of Vela is being paid for by the public art committee. I believe they have some of that

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 allocated from bonds and then some money from hot funds that we're going to go towards that

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 sculpture at Vela. If you scroll back to your picture of the park where you kind of have

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 that alley that goes between the two buildings, there is a cube right there right now, a foundation

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 that wasn't solved, that's ready for the public art to be placed. The subcommittee from the

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 public art committee is going through and identifying the artists that they're going

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 to be interviewing to do that sculpture. But as of right now, all the art is coming from

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 the public art group. If the cost was higher than the, I think they have $35,000 allocated

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 towards that based on the thematic approach that they're providing for that direction

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 of that sculpture idea, it may cost more than 35. We could consider using some of the Vela

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 money to assist that if it's going to be more, or they could use some of their other allocated

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 bond money for artwork.

241
00:27:46,160 --> 00:27:52,000
 Okay, that makes sense. Thank you for clarifying that.

242
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 You're welcome.

243
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 Are there any more questions from the subcommittee before we move on? I'm not the subcommittee

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 of the committee. Okay.

245
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 Great, I will hand it over to Todd Essence to go over a capital projects presentation.

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 While Todd's coming up, the majority of the presentation that Todd's going to go over

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 was presented to council a couple of weeks ago, just as a capital projects update to

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 council as well. And so give that update to them and obviously wanted to come back and

249
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 give a very similar update to the committee. And that's going to be something we'll be

250
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 updating council on moving forward on a regular basis. I think we'll start off on a monthly

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 basis going back to council with these updates and obviously bringing them to the committee

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 every time we meet. Like you're on mute, Todd. If that had happened five times a week, it

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 wouldn't be often enough to capture how many times it happens to me. So I apologize for

254
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 running a little bit late this morning. It's appropriate that we're talking about roads

255
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 when I had a car that didn't want to get on one this morning. So here we go. As David

256
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 said, we did present the vast majority of this presentation to council here recently

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 as an update. We are going to council on a monthly basis to update them on the status

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 of projects. So as we run through this quickly, we just want to start with the 2012 and 2014

259
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 bond program. And just to remind some of us, most of us are intimately aware of this one

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 that in the 2012 bond election, it was primarily a streets bond. You had a little bit of public

261
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 art component, but it's $20 million towards roadway or street reconstruction. And then

262
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 2014, you've got this list of both in proposition one streets, which a large portion of that,

263
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 another 20 to $24 million was street reconstruction. And then you had a myriad of items that were

264
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 transportation related, broken out. And then in proposition three, did quite a few drainage

265
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 improvements that were also included in that bond. So just to give you a snapshot of where

266
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 we are with the 2012 bond program currently, and you'll see these colors pretty thematically

267
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 throughout the presentation that blue, that kind of light blue color is always going to

268
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 be projects in design, orange construction, pretty obviously. And then if it's completed,

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 we've grayed it out. We're using the other colors of the rainbow for other things. And

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 we'll talk about that here shortly. So currently we have about 30 segments to that to the 208

271
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 segments that was originally in the 2012 bond program. We have about 30 left in design.

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 They're being designed currently. We have 31 in construction and 147 complete. And we'll

273
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 talk about why that design component is really important here in just a few minutes. The

274
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 2014 bond program, you had another 195 segments that were added to the overall street reconstruction

275
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 program. We've completed 119. You have 18 that are actively in construction, another

276
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 49 in design. And at the time this presentation was put together, we had nine in the bid and

277
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 award phase that has since been bid and it's going through the award process. And then

278
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 in 2018, we issued CEOs that did two things. It attempted to round out what we understood

279
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 the cost to deliver the 2012 and 2014 bond program, the street reconstruction segments.

280
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 That's that 4.5 million. At the time, that was our best estimate of what it would cost.

281
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 We've talked as a group multiple times about how we're seeing construction inflation, cost

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 of construction inflation ramping up about 1% per month. And we have not seen that slow

283
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 down even through the current economic scenario. It's still paying out to be true. Now we are

284
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 starting to see that erode just a little bit as we see some more current projects come

285
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 to bid and they're coming in significantly under what we anticipated, but it's still

286
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 holding fairly true. And then we added as part of that 2018 CO issuance, we added another

287
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 37 segments. Now if you recall, part of that effort was to recognize that in 2012 and 2014,

288
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 the focus was on roadways that had OCI's or overall condition index assessment scores

289
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 of 40 or less. So you had a lot of segments. Over the summer last year when we were talking

290
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 about the 2019 bond, we were talking about that shotgun approach. It was, I don't care

291
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 where it is in town. If it's a low on the OCI, we'll go fix it. Well, that left a lot

292
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 of segments that were just on the borderline in between segments. It left them undone.

293
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 So then we're coming back in successive years and impacting that neighborhood over and over

294
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 again. It also was a very myopic view of what's actually in the right away as it was really

295
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 focused on street segments without concern or consideration of what's going on with water

296
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 and wastewater and some other facets in the infrastructure that we need to make sure we

297
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 took into account holistically. So we added another 6.5 million in that 2018 CO issuance

298
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 to make sure that we could help get a little further along away from that shotgun approach

299
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 and more into that more neighborhood centric approach and get these projects done holistically.

300
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 And then just briefly, the 2019 bond program as part of the street reconstruction component,

301
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 there was another $70 million authorized by the voters to go ahead and go forward with

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 street reconstruction. At the time that we were planning, that was 376 segments. We're

303
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 still looking at that neighborhood focused approach. But we've also over the last year

304
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 been working through a couple of issues, mostly tying in the water and wastewater component,

305
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 make sure that we deliver all of those items cohesively and holistically. And that's also

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 been an issue as we worked through, okay, what does that delivery schedule look like?

307
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 And then you throw COVID on top of this and we're struggling to figure out what are we

308
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 doing here? And that did put a little bit of a dynamic in this that we had not anticipated.

309
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 So we anticipate the next time that this committee meets that we'll have a program, programmatic

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 plan set out to set for you side to side for you so that you can see how we're actually

311
00:34:27,840 --> 00:34:36,400
 going to deliver that 2019 program. One of the things that we did talk to council

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 about were those cost overruns. And this is that design component of 2012 and 2014, along

313
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 with several other factors that we wanted to bring to your attention. We did go back

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 to council and asked for an additional CO issuance of 8.9 million to complete the 2012

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 and 2014 bond program. There were a lot of contributing factors to that. And I'm going

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 to flip to the next slide. We can come back to this later if you have questions. But one

317
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 of those drivers, those prime drivers that we ran into was a lot of these street segments

318
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 were anticipated to be done through in-house crews or contracts that we already had. And

319
00:35:14,480 --> 00:35:21,520
 that pricing was used to develop what we thought we were going to have to have on hand in 2018.

320
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 What we saw significantly in 2019 was absolutely there was a lot of variable left in these

321
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 projects. And as we had to bid them, not through the traditional contracts that we had used

322
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 10, 20, 30 years in the past, but we're up to speed. We're getting these contracts as

323
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 they're appropriately as it meets all the requirements of our procurement department

324
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 in the state law. We definitely saw some impacts to pricing. Now that was lack of some details

325
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 that could have been in those bid packages. And that's absolutely where the design helps

326
00:35:57,160 --> 00:36:02,920
 that component. So not incorporating design into earlier bid packages absolutely impacted

327
00:36:02,920 --> 00:36:08,240
 where we went last year. That pushed some schedules out. We're currently not anticipating

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 2012 and 2014 being fully complete until the end of 2022, very beginning of 2023 at the

329
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 latest. We also had significant increases in variety of sectors in the market. Plus

330
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 the competition for labor in the construction market's been unreal over the last four or

331
00:36:27,320 --> 00:36:32,880
 five years. That has definitely led to labor costs going up and overall pricing to go up.

332
00:36:32,880 --> 00:36:38,440
 So that's just a snapshot of what occurred between 2018 when we thought we had it fully

333
00:36:38,440 --> 00:36:46,400
 budgeted and where we are today. So over time, initially we started with 208 street segments

334
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 in the 2012 bond election. That when 2014 came along, it brought us back to 403. And

335
00:36:52,280 --> 00:36:57,140
 today we're currently working through that 440 segments. Before I move on to the rest

336
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 of these projects, are there any questions that the committee would like to address at

337
00:37:03,080 --> 00:37:10,760
 this point? Todd, you'll need to take down the slide there. I think we under the open

338
00:37:10,760 --> 00:37:18,560
 meetings act, we have to show whoever is talking to us. Okay. Are there any questions from

339
00:37:18,560 --> 00:37:35,560
 the committee? Sure. Go for it, Todd. All right. All right. So we move forward to more

340
00:37:35,560 --> 00:37:40,760
 individualized projects and especially related to the bond program. One of the things you're

341
00:37:40,760 --> 00:37:47,120
 going to see as a theme on the subsequent slides and in future presentations is a snapshot

342
00:37:47,120 --> 00:37:52,520
 of where we are with these projects. So just to kind of lay out the map for you just a

343
00:37:52,520 --> 00:37:59,160
 little bit here, you're going to see again that blue is always going to represent the

344
00:37:59,160 --> 00:38:03,320
 projects that are under design. If it's in orange, then it's in construction. Now, one

345
00:38:03,320 --> 00:38:06,520
 of the things you'll see here is obviously we've got a schedule here at the top that

346
00:38:06,520 --> 00:38:14,160
 refers to the years. So while we may be in design, say in May of a year, we're going

347
00:38:14,160 --> 00:38:18,080
 to go to construction that same year. So the whole year shows up as construction. It doesn't

348
00:38:18,080 --> 00:38:23,120
 necessarily mean we, it's not an intent to nail down timeframes here. It's just to give

349
00:38:23,120 --> 00:38:27,320
 you an idea that within that year, that's what's going to happen. Absolutely. We have

350
00:38:27,320 --> 00:38:32,360
 those schedules, but this is just for representation purposes. It gives you a better idea of where

351
00:38:32,360 --> 00:38:38,000
 we are. If you see a project in purple, it's on hold for construction or maybe on hold

352
00:38:38,000 --> 00:38:41,800
 for design. There may be a variety of reasons for that and we can talk through those issues

353
00:38:41,800 --> 00:38:47,160
 as we come upon them. This dash blue line right down the middle here, that's just to

354
00:38:47,160 --> 00:38:51,680
 give you a frame of reference of where we are in time. So where we are throughout that

355
00:38:51,680 --> 00:38:57,280
 year and where that is in relation to the project and its delivery. On the far left,

356
00:38:57,280 --> 00:39:02,040
 you'll see the project name, the proposition it was under, as well as here, scope, schedule

357
00:39:02,040 --> 00:39:06,160
 and budget, the three legs of the stool for any project. We understand their health of

358
00:39:06,160 --> 00:39:12,960
 that project by where we are within those three spectrums. So scope, if you see scope,

359
00:39:12,960 --> 00:39:17,540
 schedule or budget with a green dot, that means things are moving forward as expected.

360
00:39:17,540 --> 00:39:22,160
 We have no real major issues that we're working through, nothing that would seem to be impacting

361
00:39:22,160 --> 00:39:26,720
 either scope, schedule or budget, wherever that lands. If you see it in yellow, that

362
00:39:26,720 --> 00:39:32,040
 means there is a risk or an opportunity that staff is working through to resolve. It may

363
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 have an impact to the project. It may not. It may just be something that we're working

364
00:39:35,760 --> 00:39:41,400
 through embedding, but as quickly as we identify those moving into that yellow category, we

365
00:39:41,400 --> 00:39:44,640
 want to bring them to everybody's attention so that you're aware we're working through

366
00:39:44,640 --> 00:39:49,400
 those issues, but we haven't fully resolved them just yet. And then anything that shows

367
00:39:49,400 --> 00:39:55,000
 up in red, that is a definitive impact. It only goes back to green once we have a full

368
00:39:55,000 --> 00:39:58,600
 resolution of that issue. So some of what you're seeing here is the presentation that

369
00:39:58,600 --> 00:40:03,040
 we gave to council. There have been a few minor updates, but this is what we presented

370
00:40:03,040 --> 00:40:07,800
 to council at the end of June. So just walking through here, and I don't want to go through

371
00:40:07,800 --> 00:40:12,680
 every project because if it's in green, then we're proceeding forward as you see here.

372
00:40:12,680 --> 00:40:16,120
 This is the schedule that we anticipate and we're not seeing any major issues at this

373
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 time. But if you look at the first two, the Quiet Zones projects, there has been some

374
00:40:20,800 --> 00:40:27,280
 motion on those here recently. We are about 95% to 100%, depending on the intersection,

375
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 complete on design. We're working through the logistics of getting those to construction.

376
00:40:32,560 --> 00:40:38,480
 We are waiting on one crossing for UP's approval. And to date, we just have one document that

377
00:40:38,480 --> 00:40:43,680
 we're waiting on, which is the update of pricing that they had given to us initially. So as

378
00:40:43,680 --> 00:40:48,520
 soon as that moves through the system, we anticipate that to move here in the next 30

379
00:40:48,520 --> 00:40:53,160
 days to 45 days. We're working hand in hand with council governments to keep moving in

380
00:40:53,160 --> 00:41:00,080
 that conversation with UP and move those four projects along much faster and those four

381
00:41:00,080 --> 00:41:05,160
 intersections in that project. There are also in that Quiet Zone package three more projects

382
00:41:05,160 --> 00:41:10,440
 that are much further north. We're not pushing those forward as quickly right now, primarily

383
00:41:10,440 --> 00:41:14,960
 because we really need to get the middle segment, which is everything from McKinney Street all

384
00:41:14,960 --> 00:41:19,720
 the way up to Old North. Those crossings also need to be done before anything's really effective

385
00:41:19,720 --> 00:41:24,900
 the further north you get. So we're working through those, but for sure the downtown crossings

386
00:41:24,900 --> 00:41:30,160
 and Quiet Zones, that's what we are anticipating to see motion on that project here shortly.

387
00:41:30,160 --> 00:41:33,720
 So the next time you see this update, we should have a schedule up there and we'll give you

388
00:41:33,720 --> 00:41:40,520
 an idea of where we are on the delivery of it. If I'm looking through these different

389
00:41:40,520 --> 00:41:46,720
 projects, I'm going to jump down to the 2020 street bundle. You'll see yellow here. My

390
00:41:46,720 --> 00:41:53,840
 apologies. Trying to get rid of a screen that's popped up all of a sudden. That yellow dot

391
00:41:53,840 --> 00:42:00,320
 there under schedule is really from a change in an effort to minimize costs. That 2020

392
00:42:00,320 --> 00:42:04,400
 street bundle, we were going to send out to design through a consultant contract. That

393
00:42:04,400 --> 00:42:09,240
 contract was on the order of two to two and a half million dollars, which was within the

394
00:42:09,240 --> 00:42:14,000
 range you would expect for a project that's a 20 to $22 million construction project.

395
00:42:14,000 --> 00:42:21,120
 But in an order to save some money and allow some of this money to be pushed to other projects,

396
00:42:21,120 --> 00:42:26,360
 especially other street reconstruction projects, we brought this design in house. Now the trade

397
00:42:26,360 --> 00:42:31,520
 off with design in house is the cost does come down substantially, about half or less

398
00:42:31,520 --> 00:42:37,240
 the cost of what we would send outsourced. But there's a time trade off. We definitely

399
00:42:37,240 --> 00:42:42,960
 don't have 50 or 60 engineers waiting to just jump on a design project and get all into

400
00:42:42,960 --> 00:42:49,160
 the weeds with it. We have two engineers and four design technicians and it just elongates

401
00:42:49,160 --> 00:42:54,520
 the time frame for that design to be completed. So the risk here, why you see it in yellow,

402
00:42:54,520 --> 00:43:01,280
 is really driven by the timeline. So it may take us a little longer to design these projects

403
00:43:01,280 --> 00:43:06,200
 so that could have some construction cost impacts, but we're working to minimize that

404
00:43:06,200 --> 00:43:11,640
 through some other measures. So that's an effort in progress. One of the things I didn't

405
00:43:11,640 --> 00:43:16,240
 mention earlier is if you see on the far left here, some of these rows are highlighted in

406
00:43:16,240 --> 00:43:21,200
 either orange or a green. Green would mean that it's complete and you'll see that on

407
00:43:21,200 --> 00:43:27,080
 a couple of slides here. Orange means we're bidding that project, that project is bid.

408
00:43:27,080 --> 00:43:31,800
 This project at the time we went to council was being bid. It has already come in. It's

409
00:43:31,800 --> 00:43:39,400
 going to council for award. Next project on this list was Hickory Creek Road phase two.

410
00:43:39,400 --> 00:43:44,440
 We do have some budget concerns there. It's more nailing down costs for some unforeseen

411
00:43:44,440 --> 00:43:49,360
 utility issues that occurred out in the field once we started construction and then closing

412
00:43:49,360 --> 00:43:57,400
 the budget costs for the signal that will go in at Montecito and Hickory Creek Road.

413
00:43:57,400 --> 00:44:04,440
 Morse Street is, and there's an item later on in the agenda to talk about Morse, we started

414
00:44:04,440 --> 00:44:08,680
 looking at what projects had the highest priority needs to make sure they can continue to go

415
00:44:08,680 --> 00:44:13,840
 forward. And obviously West Hickory had the greatest need to really get pushed forward,

416
00:44:13,840 --> 00:44:20,200
 but it had some budget constraints. As streetlights were added, as sidewalks were added, then

417
00:44:20,200 --> 00:44:24,920
 the drainage component once we got into design, that also needed to be done. That increased

418
00:44:24,920 --> 00:44:30,080
 the cost of that project to almost 2.9 million up from what we originally thought of almost

419
00:44:30,080 --> 00:44:36,840
 a million dollar project. The thought process here was let's take a look at Morse. Morse

420
00:44:36,840 --> 00:44:42,980
 really doesn't have a need to expand as quickly. Now that has changed some and we are working

421
00:44:42,980 --> 00:44:47,960
 with the county on that one as they've taken over the former Sallie Beauty building. But

422
00:44:47,960 --> 00:44:53,160
 the street itself is actually in usable condition. It still needs to be done. The project is

423
00:44:53,160 --> 00:44:56,900
 definitely not off of our radar. We're still pushing forward. We're just looking for avenues

424
00:44:56,900 --> 00:45:01,280
 to fund that project. So that's why you see it on hold on the far right. You also see

425
00:45:01,280 --> 00:45:06,080
 the schedule and the budget in red. That project is on hold until we nail down where those

426
00:45:06,080 --> 00:45:11,920
 funds are coming from to finish out that project. That project also grew from just what was

427
00:45:11,920 --> 00:45:19,720
 in the bond program to extending the old two lanes of Morse Street, which is still asphalt,

428
00:45:19,720 --> 00:45:25,160
 and redoing the entire stretch from 288 all the way over to Mayhill. So that's some more

429
00:45:25,160 --> 00:45:30,040
 of the issues came from as well from a budget side. So we're working through that issue

430
00:45:30,040 --> 00:45:34,160
 and we'll have an update soon or the next time this committee meets for sure we'll have

431
00:45:34,160 --> 00:45:40,640
 that path forward. And then the Riddell extension at Mingo, if you recall, a couple years ago

432
00:45:40,640 --> 00:45:47,600
 we talked about really where we need to focus that money is the design efforts into Mingo

433
00:45:47,600 --> 00:45:52,160
 Road as a whole from Bell all the way up to Old North, including Riddell. And then let's

434
00:45:52,160 --> 00:45:57,120
 figure out what does that intersection look like at Riddell and Mingo. So the area the

435
00:45:57,120 --> 00:46:02,400
 traffic study for the entire area is complete. We're working through the draft comments right

436
00:46:02,400 --> 00:46:07,480
 now and finalizing that that will lead into the design phase. So right now we're nailing

437
00:46:07,480 --> 00:46:12,080
 down scope as we work through this and we'll be able to give you a better idea where we

438
00:46:12,080 --> 00:46:19,840
 recommend that project going and then we can put a schedule to it going forward from there.

439
00:46:19,840 --> 00:46:23,800
 Following and if you have this presentation, your backup, you'll see a lot of things we

440
00:46:23,800 --> 00:46:29,280
 just talked about on the following page that was just for your reference and we can absolutely

441
00:46:29,280 --> 00:46:34,560
 come back to this here in a minute. As we move into proposition three, so we broke this

442
00:46:34,560 --> 00:46:39,000
 out a little bit. This is still part of the 2014 bond program. These are those drainage

443
00:46:39,000 --> 00:46:45,080
 projects that were in the bond program. You see two of the green. Those projects are complete.

444
00:46:45,080 --> 00:46:51,120
 Then you have two up here. Phase one of that downtown storm sewer trunk line. That project

445
00:46:51,120 --> 00:46:56,320
 is bidding and we'll be going out to construction this year. It's still on target in all phases.

446
00:46:56,320 --> 00:47:00,640
 It's green across, but you've got this phase two where we're running into an issue working

447
00:47:00,640 --> 00:47:06,240
 with UP that we do anticipate being resolved here very shortly. Now that we've got council

448
00:47:06,240 --> 00:47:11,980
 of governments helping us work through this issue with UP, there's an easement that was

449
00:47:11,980 --> 00:47:17,240
 needed to get into that project, get into the railroad right away to be able to put

450
00:47:17,240 --> 00:47:21,320
 that project into the ground. There's also a couple of driveways that have to be moved.

451
00:47:21,320 --> 00:47:24,920
 We're working through some of the budget constraints that we're dealing with now as we've worked

452
00:47:24,920 --> 00:47:35,440
 through the time lag on this. Before I move on to the 2019 bond program, are there any

453
00:47:35,440 --> 00:47:40,680
 questions that I can answer at this point? Eric?

454
00:47:40,680 --> 00:47:50,960
 Hey Todd. Just a couple quick things. When you talk about Riddell looking at that as

455
00:47:50,960 --> 00:47:58,080
 a holistic project, but then you also talked about the quiet zone progress that we've made,

456
00:47:58,080 --> 00:48:04,240
 so thank you for that with UP and the cog. I'm assuming, but I'd like to confirm just

457
00:48:04,240 --> 00:48:11,040
 that the crossings near Riddell that might be changed as a factor of, or as a result

458
00:48:11,040 --> 00:48:17,580
 of the Riddell project would be kind of pushed back on those plans from a funding perspective.

459
00:48:17,580 --> 00:48:22,440
 That plan set, having the benefit of us being able to plan this on our own this time, this

460
00:48:22,440 --> 00:48:26,320
 is one of the few projects where we've really gotten to stretch our own wings on this. Yes,

461
00:48:26,320 --> 00:48:31,320
 the quiet zones would be incorporated into the project. As we work through the design,

462
00:48:31,320 --> 00:48:34,640
 we would be working with the railroad to make that happen as well.

463
00:48:34,640 --> 00:48:56,160
 Okay. Thank you. Any more questions? Okay. All right, 2019 bond program. So the 2019

464
00:48:56,160 --> 00:49:00,800
 bond program, there were three propositions. The one I'm going to focus on is proposition

465
00:49:00,800 --> 00:49:06,800
 one, which is the roadways component. Similar to what we've seen earlier, you see the street

466
00:49:06,800 --> 00:49:10,880
 reconstruction programs, primarily in purple. The only reason that's in purple right now

467
00:49:10,880 --> 00:49:14,960
 is that we're working through that programming piece. So we do anticipate that by the end

468
00:49:14,960 --> 00:49:17,860
 of the summer, we'll know what that program looks like, and we'll be able to give you

469
00:49:17,860 --> 00:49:22,560
 a schedule. We'll also be able to clear out the yellows and give you an idea of where

470
00:49:22,560 --> 00:49:28,960
 that project lands. Sidewalk improvements, schedule and budget. One of the things that

471
00:49:28,960 --> 00:49:35,360
 really could be changed is this 2020 block. Since the last time we talked to council,

472
00:49:35,360 --> 00:49:39,400
 we have two years worth of construction already designed. So that money's already being put

473
00:49:39,400 --> 00:49:46,360
 to work to build sidewalks that were designed in 2018 and 2019. So those are moving forward.

474
00:49:46,360 --> 00:49:50,660
 The schedule and the budget constraints, those are really just as we work through the right

475
00:49:50,660 --> 00:49:56,440
 away issues. The biggest unknown for any of these sidewalk projects is that temporary

476
00:49:56,440 --> 00:50:01,480
 construction easements, as you work with individual property owners and you start working through

477
00:50:01,480 --> 00:50:05,080
 what it actually costs to acquire right away where you didn't have it before or you're

478
00:50:05,080 --> 00:50:11,200
 working around landscaping or a variety of other things that are out there, it can make

479
00:50:11,200 --> 00:50:15,440
 that cost and schedule go up a little bit. It can also contract it depending on who you're

480
00:50:15,440 --> 00:50:18,880
 working with. So that's why you see those in yellows. We're working through every one

481
00:50:18,880 --> 00:50:23,780
 of those issues as they come up. The Bonnie Bray phase five, you'll see the yellow there

482
00:50:23,780 --> 00:50:28,960
 for schedule and budget. That really comes down to the fact that we were looking to reduce

483
00:50:28,960 --> 00:50:33,680
 some of the cost incurred by that project by bringing in the design in-house. So instead

484
00:50:33,680 --> 00:50:37,400
 of going out and getting another million, a million and a half dollar contract to design

485
00:50:37,400 --> 00:50:42,200
 that project, we're designing that one in-house that can have similar trade-offs as we talked

486
00:50:42,200 --> 00:50:47,160
 about earlier where because we're designing in-house, there's a limited amount of staff

487
00:50:47,160 --> 00:50:51,000
 that can push the schedule out, but we are working to minimize that impact as well. So

488
00:50:51,000 --> 00:50:56,780
 we do anticipate overall the budget should stay much leaner on the design side. Now right

489
00:50:56,780 --> 00:51:04,480
 away in construction costs, that'll be the number that we're working through. And I think

490
00:51:04,480 --> 00:51:12,000
 that is it. Yes. Any questions?

491
00:51:12,000 --> 00:51:16,360
 I would add just one thing to Todd's presentation there at the end as we talked about the street

492
00:51:16,360 --> 00:51:21,840
 reconstruction program for 2019. And this was indicated in the backup as well. As we're

493
00:51:21,840 --> 00:51:26,920
 focusing on closing out the 2012 and 2014 program and issuing that additional eight

494
00:51:26,920 --> 00:51:32,120
 to nine million dollars of CO debt next year to close those programs, we are focused now

495
00:51:32,120 --> 00:51:37,400
 on design at least for the next two years for the 2019 program. And if you look at the

496
00:51:37,400 --> 00:51:42,140
 issuance schedule we have, we have pushed out the issuance one year to extend a year

497
00:51:42,140 --> 00:51:47,080
 to the 2019 program from what we considered during the committee process just as we focus

498
00:51:47,080 --> 00:51:51,320
 on 12 and 14. But as Todd indicated, we'll be coming back to the committee with more

499
00:51:51,320 --> 00:51:55,920
 detailed schedules for each of those. But I did want to make sure that was clear in

500
00:51:55,920 --> 00:52:00,520
 the information that was presented.

501
00:52:00,520 --> 00:52:10,200
 All right. Thank you very much. I appreciate your time.

502
00:52:10,200 --> 00:52:15,600
 Now we have Scott Gray, our director of facilities to go over our facilities projects including

503
00:52:15,600 --> 00:52:22,000
 the police police projects for the 2019 bond program. So Scott, we can take it away. Kevin

504
00:52:22,000 --> 00:52:24,880
 Ann will pull up the presentation.

505
00:52:24,880 --> 00:52:30,540
 Thank you, David. And good afternoon, everyone. I am, as David said, the new director of facilities

506
00:52:30,540 --> 00:52:36,840
 management have been in the position since just about COVID hit in middle of March. So

507
00:52:36,840 --> 00:52:43,120
 I'll do my best to fill in some of the blanks for you today on a couple of projects. The

508
00:52:43,120 --> 00:52:48,480
 presentation you just saw by Todd's explanation of the color coding is the same thing I used

509
00:52:48,480 --> 00:52:53,400
 in my presentation. So it saves me some time having to explain that. So, Kevin Ann, you

510
00:52:53,400 --> 00:52:59,120
 can move to the next slide. Again, we're going to do a presentation on the two bond projects

511
00:52:59,120 --> 00:53:07,680
 that are in '14 and '19 for you today. So the first project under the 2014 bond proposition

512
00:53:07,680 --> 00:53:12,560
 number two is fire station number three. And again, the same color coding at the top of

513
00:53:12,560 --> 00:53:17,960
 the slide there of where we're at and the vertical line of where we're at as well. So

514
00:53:17,960 --> 00:53:22,320
 just wanted a couple of things. First of all, the picture on the right-hand side is the

515
00:53:22,320 --> 00:53:27,920
 existing facility. And the one on the bottom there is the architectural rendering that

516
00:53:27,920 --> 00:53:33,040
 was provided by Kirkpatrick architectural studios of what the new one will look like.

517
00:53:33,040 --> 00:53:38,760
 This project is currently in construction. It was awarded to behavior contractors for

518
00:53:38,760 --> 00:53:45,840
 the amount of approximately $6.3 million. That construction began in May of 2019. And

519
00:53:45,840 --> 00:53:51,600
 as you see by the red dot under schedule, we are behind in the schedule primarily due

520
00:53:51,600 --> 00:53:59,660
 to weather delays, extensive amount of rain in the last six months or so that has caused

521
00:53:59,660 --> 00:54:05,000
 some delays. There's been a couple of construction related issues as well. It was originally

522
00:54:05,000 --> 00:54:11,400
 proposed to be completed in April of this year. It is now looking like it will be October

523
00:54:11,400 --> 00:54:18,960
 of this year for that completion of the new building. There's a second phase of this project,

524
00:54:18,960 --> 00:54:23,500
 which is actually the demolition of the old station, which will happen just after the

525
00:54:23,500 --> 00:54:28,720
 new station opens. That'll include the demolition and then some various landscaping related

526
00:54:28,720 --> 00:54:36,040
 issues. So as you notice that the budget dot is yellow as well. If you look at the budget

527
00:54:36,040 --> 00:54:41,040
 numbers we have, the total funding for the project, which is some bond fund and some

528
00:54:41,040 --> 00:54:48,640
 CO is about 9.5 or excuse me, $9.4 million. We're just under that encumbrances to date.

529
00:54:48,640 --> 00:54:53,280
 We believe we're going to be fairly close to that number, but just want to highlight

530
00:54:53,280 --> 00:55:00,520
 it. We are at about 80% construction on that project. Don't foresee too many other issues,

531
00:55:00,520 --> 00:55:05,760
 but as we complete that project and then get into the demo, hopefully we won't notice any

532
00:55:05,760 --> 00:55:11,840
 additional expenditures for this particular project. So very quick update on where we're

533
00:55:11,840 --> 00:55:17,200
 at with that one. Certainly everybody's looking forward to getting this building online. The

534
00:55:17,200 --> 00:55:22,340
 original building is about 5,500 square feet. You can see it's fairly small. The new building

535
00:55:22,340 --> 00:55:28,880
 is nearly three times that at 15,800 square feet, which certainly is necessary to meet

536
00:55:28,880 --> 00:55:38,000
 the demands of that particular response location for that facility. So the next is the 2019

537
00:55:38,000 --> 00:55:44,440
 bond program and this project, next slide, is relevant to the public safety bond issuance

538
00:55:44,440 --> 00:55:52,040
 or proposition one, I believe. This was for the police headquarters renovation and the

539
00:55:52,040 --> 00:55:56,740
 police substation and firing range, which is out on vintage Boulevard. There's a couple

540
00:55:56,740 --> 00:56:02,240
 of pictures there. I'll show you kind of where it's been. These have been presented to the

541
00:56:02,240 --> 00:56:08,040
 council in some cases a couple of times with some various changes and you probably barely

542
00:56:08,040 --> 00:56:12,720
 see the notes that are on some of these pictures. That's what was presented to the council.

543
00:56:12,720 --> 00:56:19,680
 Just some changes to the exterior configuration of the headquarters there and then some depictions

544
00:56:19,680 --> 00:56:26,080
 of some changes to the police substation and the firing range there on the bottom. Where

545
00:56:26,080 --> 00:56:32,040
 we're at right now, you can see that everything's green, which is great to be. All these projects

546
00:56:32,040 --> 00:56:39,400
 are in that. Right now we're in the design phase. We have received 90% construction documents

547
00:56:39,400 --> 00:56:46,180
 and should have 100% construction documents here next month that will allow our construction

548
00:56:46,180 --> 00:56:52,480
 manager at risk to work through that, get bids and then provide to the city in the end

549
00:56:52,480 --> 00:57:01,200
 of October for council approval our guaranteed maximum price for all three of these buildings.

550
00:57:01,200 --> 00:57:07,360
 As you can see right now, we are anticipating scope, schedule and budget are on track. Again,

551
00:57:07,360 --> 00:57:17,320
 we're in the early phase, I would say, because the design effort will take us up to that

552
00:57:17,320 --> 00:57:24,400
 release in October. We'll then start construction shortly thereafter, November timeframe. And

553
00:57:24,400 --> 00:57:28,480
 then all three of these buildings have slightly a different phase, but they'll all be completed

554
00:57:28,480 --> 00:57:37,100
 by the second quarter of 2022. Just as a reminder on the budget, the bond issuance was for approximately

555
00:57:37,100 --> 00:57:43,040
 $62 million. We've expended to date about $1.5 million and projected about $4 million

556
00:57:43,040 --> 00:57:47,760
 for the rest of this fiscal year, primarily finishing off the final design and then starting

557
00:57:47,760 --> 00:57:54,360
 the construction phase of this project. I'd be happy to answer any questions I can on

558
00:57:54,360 --> 00:57:59,280
 this project. Again, we're excited to get this thing moving. Certainly don't anticipate

559
00:57:59,280 --> 00:58:04,240
 any snags at this point, but usually that happens when we begin the construction phase

560
00:58:04,240 --> 00:58:09,360
 and start to find any possible unknowns, especially with the remodel on the headquarters building.

561
00:58:09,360 --> 00:58:14,960
 And then subsequently the new construction will start immediately thereafter.

562
00:58:14,960 --> 00:58:24,320
 Are there any questions for Gary? Scott?

563
00:58:24,320 --> 00:58:31,720
 I would add one thing to Scott's presentation. As you saw, the police facility, we're only

564
00:58:31,720 --> 00:58:36,440
 issuing the $4 million this year. And the reason we're able to do that and essentially

565
00:58:36,440 --> 00:58:40,720
 match up our debt issuance with cash flow is we went to council with a commercial paper

566
00:58:40,720 --> 00:58:45,840
 program, but since our last meets, since our last bond oversight committee, which they

567
00:58:45,840 --> 00:58:50,360
 approved and essentially what that's functionally allowed us to do is issue that debt when we

568
00:58:50,360 --> 00:58:56,440
 actually need the cash flow versus issuing the debt to enter into contract. So if we

569
00:58:56,440 --> 00:59:00,000
 didn't have the commercial paper program, it's possible we would have had to issue the

570
00:59:00,000 --> 00:59:04,880
 entire $62 million this fiscal year, obviously, which would have put some constraints on our

571
00:59:04,880 --> 00:59:09,560
 tax rate. So it's really helped us layer in those issuances moving forward. So you'll

572
00:59:09,560 --> 00:59:19,920
 see that on that issuance timeline as well.

573
00:59:19,920 --> 00:59:45,480
 There's no questions. I guess we can move on. Is that the end of the?

574
00:59:45,480 --> 00:59:52,400
 It is. We can move to the next item if there's no more questions.

575
00:59:52,400 --> 01:00:00,560
 All right. Thank y'all for that report. Moving on to item D is receive a report, hold a discussion

576
01:00:00,560 --> 01:00:06,520
 and give staff direction regarding the reallocation of project funds from the Moore Street expansion

577
01:00:06,520 --> 01:00:07,520
 project.

578
01:00:07,520 --> 01:00:13,120
 So each of the three remaining items were addressed during the presentations from both

579
01:00:13,120 --> 01:00:19,700
 Gary and Todd in the previous item. So I can surely answer any additional questions you

580
01:00:19,700 --> 01:00:24,760
 might have. This first one, as Todd mentioned, is reallocating funds from the Moore Street

581
01:00:24,760 --> 01:00:29,840
 project to the Hickory Street project. So if there are any questions, we're here to answer

582
01:00:29,840 --> 01:00:34,840
 them or any action that the committee has.

583
01:00:34,840 --> 01:00:45,200
 Are there any questions regarding item D from the committee?

584
01:00:45,200 --> 01:00:46,200
 Eric?

585
01:00:46,200 --> 01:00:53,320
 Yeah, I just wanted to say I'm glad that the Hickory Street project is moving forward and

586
01:00:53,320 --> 01:00:58,240
 that we're finding creative ways to get it done. I think that's really important. I did

587
01:00:58,240 --> 01:01:04,120
 have one question just with the amount of funding that's moving there. I just wanted

588
01:01:04,120 --> 01:01:11,520
 to ask whether that's all street work or if some of that is utility work, how does that

589
01:01:11,520 --> 01:01:15,560
 breakdown work for the Hickory project?

590
01:01:15,560 --> 01:01:19,720
 The funds that are moving because they're bond funds, they have to be used for streets.

591
01:01:19,720 --> 01:01:24,080
 So that portion that's moving will only be used for street. Any of the utility work is

592
01:01:24,080 --> 01:01:28,320
 handled in our utility budgets and would be budgeted separately. But especially because

593
01:01:28,320 --> 01:01:31,440
 they're bond funds, they're restricted to only streets funding.

594
01:01:31,440 --> 01:01:36,160
 Okay, thank you. It just seemed like a lot of money, but I guess it's because the base

595
01:01:36,160 --> 01:01:41,360
 is probably so destroyed that it costs a lot to redo it to a deep depth, right?

596
01:01:41,360 --> 01:01:48,400
 Yeah, it's a big, big project.

597
01:01:48,400 --> 01:01:51,360
 Any more questions on item D?

598
01:01:51,360 --> 01:01:55,840
 I'll move to approve.

599
01:01:55,840 --> 01:02:01,760
 I'll second.

600
01:02:01,760 --> 01:02:09,640
 All right. Got a motion and a second to reallocate the project funds from the Moore Street expansion

601
01:02:09,640 --> 01:02:21,160
 project. Any discussion? Any opposed? None. Motion passes.

602
01:02:21,160 --> 01:02:31,600
 Item E is regarding the reallocation of the project funds to the Joe Skiles Park playground.

603
01:02:31,600 --> 01:02:40,160
 We have any questions on that?

604
01:02:40,160 --> 01:02:55,800
 No questions. I'll move approval.

605
01:02:55,800 --> 01:02:56,800
 We got a motion.

606
01:02:56,800 --> 01:02:59,800
 I'll second. It's Randy.

607
01:02:59,800 --> 01:03:08,360
 All right, Randy. So we've got a motion and a second. Any discussion?

608
01:03:08,360 --> 01:03:12,360
 Any opposed?

609
01:03:12,360 --> 01:03:16,800
 Hearing none, motion passes. Thank you.

610
01:03:16,800 --> 01:03:22,360
 Item F, discussion regarding the reallocation of the project funds from the Southwest master

611
01:03:22,360 --> 01:03:40,680
 plan. If there aren't any questions on that, I'll entertain a motion as well.

612
01:03:40,680 --> 01:03:44,780
 Moved. Second.

613
01:03:44,780 --> 01:03:49,280
 We have a motion and a second. Any discussion?

614
01:03:49,280 --> 01:03:55,400
 Any opposed? Motion passes.

615
01:03:55,400 --> 01:04:04,400
 Thank you all.

616
01:04:04,400 --> 01:04:11,280
 David, is there anything else we need to discuss?

617
01:04:11,280 --> 01:04:16,080
 The next item would be concluding items. So if we move to concluding items, which would

618
01:04:16,080 --> 01:04:20,240
 be a time if there's anything from the committee that you would like to see in particular at

619
01:04:20,240 --> 01:04:27,280
 the next committee meeting. If not, obviously we would, as always, bring back those status

620
01:04:27,280 --> 01:04:32,560
 reports and we would have any presentations for reallocation of funds and likely bring

621
01:04:32,560 --> 01:04:36,080
 a very similar capital projects presentation for sure to give an update on those street

622
01:04:36,080 --> 01:04:37,920
 projects.

623
01:04:37,920 --> 01:04:46,520
 Susan? Could you next time bring back how the property

624
01:04:46,520 --> 01:04:52,160
 tax appraisals are fitting if it's moving the way that we thought it was going to?

625
01:04:52,160 --> 01:04:57,640
 Absolutely. And I can just give a quick highlight on that and bring more detail back where we'll

626
01:04:57,640 --> 01:05:03,440
 get our certified estimates next week for the next fiscal year. And they are trending

627
01:05:03,440 --> 01:05:09,760
 higher than our projections currently. We have a 7 to 8% appraised value increase in

628
01:05:09,760 --> 01:05:14,400
 our budget, but those are going to be firmed up tomorrow and then as we move forward. So

629
01:05:14,400 --> 01:05:18,240
 we'll surely bring an update of that at the next meeting. That's great.

630
01:05:18,240 --> 01:05:19,240
 Thank you.

631
01:05:19,240 --> 01:05:26,860
 You can already see Tim saying that we undershot again. I can already read his mind.

632
01:05:26,860 --> 01:05:32,440
 I think the one thing, though, and I'm glad you asked that, Susan, I think the one thing

633
01:05:32,440 --> 01:05:36,440
 we're a little concerned about is we've gone through and studied trends after the last

634
01:05:36,440 --> 01:05:43,640
 few recessions and the appraisal district's usually a year or two behind that. So we are,

635
01:05:43,640 --> 01:05:48,960
 we have significantly downgraded our 2021 estimates just based on we think we're going

636
01:05:48,960 --> 01:05:53,880
 to be well above our assumption this year. Next year, though, we're pretty sure that

637
01:05:53,880 --> 01:05:57,520
 we're going to see that drop a little bit, although it's going to be interesting to see

638
01:05:57,520 --> 01:06:02,600
 how they how they handle this. But every time the last few recessions, we've seen a decrease.

639
01:06:02,600 --> 01:06:07,000
 In fact, there was a couple of times it went negative in 2008 or nine. I think it was the

640
01:06:07,000 --> 01:06:16,480
 last time that happened. So we're monitoring it closely.

641
01:06:16,480 --> 01:06:20,640
 Thank you. Any, any, any other requests? Eric?

642
01:06:20,640 --> 01:06:28,080
 Yeah, I guess to follow on on that, David, when you bring the report back next time,

643
01:06:28,080 --> 01:06:39,480
 I'd like to understand how the 10 percent growth cap on AV for residences factors into

644
01:06:39,480 --> 01:06:46,840
 what the AV growth we report is. Does that make sense, such that if AV grows, if the

645
01:06:46,840 --> 01:06:52,720
 actual assessed value grows slower, but some properties were capped previously, then the

646
01:06:52,720 --> 01:06:56,160
 amount of tax revenue that comes in from those properties would continue to grow, even though

647
01:06:56,160 --> 01:07:02,720
 perhaps their assessed value is not growing. That's one of those complications. I'd like

648
01:07:02,720 --> 01:07:05,560
 to understand better. I think we have a, I think we have a budget

649
01:07:05,560 --> 01:07:11,040
 slide that we're taking to council here. And we are may have already done that to kind of

650
01:07:11,040 --> 01:07:15,500
 shed some light on that, even though we're at we're actually presenting effective rate

651
01:07:15,500 --> 01:07:21,320
 budget in our initial estimates below it, but the value of the homes is still pushing

652
01:07:21,320 --> 01:07:25,280
 out pressure on that. So I think that's a good discussion to have. Does council have

653
01:07:25,280 --> 01:07:29,760
 the same questions? OK, absolutely. Yeah, we can bring them.

654
01:07:29,760 --> 01:07:38,380
 And then secondly, I recall during the discussion of initiating the commercial paper program,

655
01:07:38,380 --> 01:07:45,700
 one of the risks that was highlighted was in a constricted credit market, the convertibility

656
01:07:45,700 --> 01:07:51,720
 of the long term commercial paper may be a little bit of a concern. So I don't think

657
01:07:51,720 --> 01:07:56,960
 we've run into nearly the credit crisis we had back in 2008. But I'd be interested to

658
01:07:56,960 --> 01:08:01,120
 know whether how that market is going right now and if that has any implications on how

659
01:08:01,120 --> 01:08:05,540
 we're operating the program. Sure. We'll bring a full finance presentation

660
01:08:05,540 --> 01:08:10,640
 to the next one and touch on all those pieces. I would just very quickly make clear that

661
01:08:10,640 --> 01:08:14,440
 what we're doing with the commercial paper program right now is using it for appropriation

662
01:08:14,440 --> 01:08:18,920
 purposes, but we have no intent to actually issue any commercial paper. So that wouldn't

663
01:08:18,920 --> 01:08:23,280
 be relevant to us right now. But I think it's it would be great to kind of give you guys

664
01:08:23,280 --> 01:08:27,560
 a full a full scope of what that program is and how we're using it.

665
01:08:27,560 --> 01:08:32,880
 And I think we're going through a we have a ratings call. Did we have one recently or

666
01:08:32,880 --> 01:08:39,640
 do we have one coming up? Yeah, we just had two ratings calls last week that that both

667
01:08:39,640 --> 01:08:43,160
 of those ratings will be coming out here in the next couple of weeks for our debt issuance

668
01:08:43,160 --> 01:08:55,240
 metal probably be more key to the conversation than anything. Absolutely. Yeah. Okay. Anymore

669
01:08:55,240 --> 01:09:04,280
 comments from the committee requests. All right. Well thank you everybody for your participation

670
01:09:04,280 --> 01:09:18,240
 today. Thanks to Todd and the staff. Appreciate you guys. Your motion to adjourn. I'll move.

671
01:09:18,240 --> 01:09:27,360
 Is that a second? Tim, your smile. Thanks, everyone. Thanks. Great to see him.