R-2019-0295 - 7/25/2019 RESOLUTION NO. R-2019-0295
WHEREAS, the Round Rock Transportation and Economic Development Corporation has
adopted a Five-Year Funds Allocation Plan ("Plan") for FY 2020-2024, and
WHEREAS, the City Council wishes to ratify said Plan,Now Therefore
BE IT RESOLVED BY THE COUNCIL OF THE CITY OF ROUND ROCK, TEXAS,
That the adoption of the Plan by Round Rock Transportation and Economic Development
Corporation, which is attached hereto as Exhibit"A", is hereby ratified.
The City Council hereby finds and declares that written notice of the date, hour, place and
subject of the meeting at which this Resolution was adopted was posted and that such meeting was
open to the public as required by law at all times during which this Resolution and the subject matter
hereof were discussed, considered and formally acted upon, all as required by the Open Meetings Act,
Chapter 551, Texas Government Code, as amended.
RESOLVED this 25th day of July, 2019.
X Al
CRAIGORG , Mayor
City of Round ock, Texas
ATTEST:
l�
SARA L. WHITE, City Clerk
0112.1902;00427792
EXHIBIT
„A»
Round Rock Transportation and Economic Development Corporation
5-Year Funds Allocation Plan 2020 - 2024
Beginning Balance - Funds Available 10/1/2019 59,696,182
5-Year Revenue Forecast
Sales Tax 103,508,359
Interest 1,250,000
Transportation COs 110,000,000
3rd Party Participation 30,035,000
Total 5-Year Revenue Forecast 244,793,359
Total 5-Year Funds Available 304,489,541
5-Year Transportation Projects
TCIP Programmed (includes pending TCIP amendment) 231,718,837
Other:Street Sweeping,Traffic Signals,Admin, etc. 10,033,055
Debt Service 10,581,230
5-Year Fund Programmed 252,333,122
Transportation Pipeline Planned Projects(1) -
Total 5-Year Transportation Need 252,333,122
5-Year Economic Development Projects
Chamber Contract 2,925,000
Downtown Improvements& Marketing 1,251,000
Committed Economic Incentive (EIP) Payments 13,052,725
5-Year Fund Programmed 17,228,725
Economic Development Pipeline Planned Projects 3,825,000
Economic Development Amount to be allocated (2) 31,000,000
Total 5-Year Economic Development Need 52,053,725
Total 5-Year Expenditure Forecast 304,386,847
Net available to be allocated at end of 5-years 102,694
This allocation plan will be updated annually or as opportunities arise.
(1)$34m shown or:plan presented January 2019 is now part of the TCIP;amendment#42 to the TOP that
will be presented to the Type 8 board in August reflects all projects related the 5-year allocation plan with
the addition of CR112 which absorbs forecasted sales tax revenue for FY2024
(2)Adjusted from the plan presented in January 2019 to account for actual projects committed