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TB-2020-004 - 7/23/2020
RESOLUTION NO. TB-2020-004 RESOLUTION ADOPTING THE 2020-2021 OPERATING BUDGET FOR THE ROUND ROCK TRANSPORTATION AND ECONOMIC DEVELOPMENT CORPORATION WHEREAS, the Board of Directors of the Round Rock Transportation and Economic Development Corporation wishes to adopt an operating budget for fiscal year 2020-2021 in accordance with the attached proposal,Now Therefore BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE ROUND ROCK TRANSPORTATION AND ECONOMIC DEVELOPMENT CORPORATION, That the operating budget for fiscal year 2020-2021 be adopted as set forth in Exhibit "A" attached hereto and incorporated herein for all purposes. The Board of Directors 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 23rd day of July, 2020. By: CRAIG M RGAN resident Round Rock Transportation and Economic Development Corporation ATTEST: JON E OAN, Secretary 0112.20202;00449973 EXHIBIT It/�,l City.f Round Rock Type B Funds !1 5 Year Estimated Available As of: / 2 Actual Projected Estimated Estimated Estimated Estimated Estimated FY2019 FY2020 FY2021 FY2022t tFY2025 Beginning Fund Balance 33,023,307 49,179,277 18,232,654 44,298,926 14,639,163 9,931,448 11,018,187 Revenue Sales Tax and Estimated Sales Tax 21,227,616 17,900,000 18,900,000 19,278,000 19,663,560 20,056,831 20,457,988 Interest 870,570 500,000 500,000 300,000 300,000 200,000 200,000 Grant Proceeds 988,576 551,948 1,219,198 Donationstcontributions 1,298,391 CAMPO Funding 27,106,320 920,396 WilCo.Participation-County Road 112 West 250,000 1,000,000 3,725,000 5,600.000 3,000,000 2,675,000 WilCo.Participation-Kenney Ft.Blvd.2-3 500,409 100,000 98,756 Wilco.Participation-Old Settlers Blvd 750,000 1,550,000 3,350,000 2,125,000 1,250,000 WilCo.Participation-RM620 2,000,000 WilCo.Participation-Roundville Ln 598,631 WilCo.Participation-University Blvd 2,500,000 WilCo.Participation-University East 321,050 1,313,685 1,685,265 WilCo.Participation-Wyoming Springs 320,000 240,000 440,000 2,000,000 2,000,000 2,000,000 Transportation CO Bond Proceeds 30,329,190 30,000,000 30,000,000 30,000,000 20,000,000 Other 4,908 Total Revenue 57,818,291 50,692,998 84,425,959 59,698,661 49,688,560 26,506,831 25,332,968 Transportation Expenditures TCIP Projects 22,358,879 36,211,611 85,979,137 71,780,180 47,575,200 22,450,000 19,300,000 Other Items:Commons,Street Sweeping,Paving Contract& Traffic Signals 36,940 848,966 865,945 883,264 900,930 918,948 937,327 Payment for Refunding of Bonds Debt Issuance Costs 327,847 142,650 350,000 350,000 350,000 Debt Principal&Interest 3,935,967 3,923,755 3,921,097 1,367,437 1,368,941 Transfers to Other Funds Technical&Administrative Support Services 780,000 803,000 911,000 938,330 966,480 995,474 1,025,339 Subtotal Transportation 27,439,633 41,929,982 92,027,179 75,319,211 51,161,550 24,364,422 21,262,666 Economic Dev.Expenditures Chamber Agreement 585,000 632,917 708,750 730,012 751,913 774,470 797,704 Downtown Improvements&Marketing 224,792 2,915,500 250,200 250,200 250,200 250,200 250,200 Economic Development Projects-Committed 5,703,873 731,176 8.262,000 4,510,000 39,000 31,000 16,000 NE Downtown Parking Garage 2,657,388 8,349,000 2,393,812 NE Downtown Dry Utilities&Contingency 2,628 700 Total Economic Development 6,513,465 6,936,981 11,847,650 13,839,212 3,434,725 1,055,670 1,063,904 Total Expenditures 33 953,098 48,866,963 103,874 829 89,158,423 54,596,275 25,420,092 22,326,570 Net Revenues 23,865,193 1,826,035 (19,448,870) (29,459,762) (4,907,715) 1,086,739 3,006,398 Fund Balance 58,888,500 51,005,312 (1,216,216) 14,839,163 9,931,448 11,018,187 14,024,595 Fund Reserve (1,000,000) (1,000,000) (1,000,000) (1,000,000) (1,000,000) (1,000,000) (1,000,000) Available Fund Balance Before Kalahari rr 50,006,312 13,024,585 Kalahari Revenue,Projects,.&Debt Kalahari Project Revenues to Offset Debt 880,359 4,170.026 5,045,046 5,046,017 5,042,003 Proceeds-Bonds for Kalahari 21,310,000 20,331,859 Issuance Costs-Bonds for Kalahari 331,859 - 331,859 Transfer to Kalahari Debt Service Reserve 975,441 2,700 Transfer from Kalahari Debt Service Reserve 491.760 483,681 Reimbursement from tax-exempt COs-offsite&onsite improvements 30.000,000 Debt Service for Kalahari Road Debt&Conference Center 491.760 1,364,040 4.170,026 5,045,046 5,046,017 5,042,003 Convention Center 23,451,453 12,569.958 On-site improvements 15.000.000 Off-site im rovements 4,260,470 5.200,000 4,484 658 Kalahari,not "v+::, ,r;1` -[7,709,223) '(32.772 658 45 515 142 1 0 0 0'. Total All Expenditures 62,972,321 82,131,381 110,055,586 93,328,449 59,641,321 30,466,109 27,368,573 Total Net Revenue 16,155,970 (30,946,623) 26,066,272 (29,459,762) (4,907,715) 1,086,739 3,008,398 Total Fund Balance 49,179,277 18,232,654 44,298,926 14,839,163 9,931,448 11,018,187 14,024,585 Total Reserve (1,000,000) (1,000,000) (1,000,000) (1,000,000) (1 000,000) (1,000,000) (1,000,000) Total Available Fund 049" 48,179,277 17,232,654 87 W-Il26 13,839,11 13,024,505 Potential Uses of Fund Balance Transportation projects to be programmed-per Type 8 funding allocation 0 0 0 0 Economic development projects in the pipeline 0 0 125,000 100,000 75,000 50,000 25,000 Total Potential Uses 0 0 125,000 100,000 75,000 50,000 25,000 Cumulative Ex nse 0 0 125,000 225,000 300,000 350,000 375,000 City of Round Rock Type B Funds Other FY2O19 FY2O2O FY2O21 FY2O22 FY2O23 FY2O24 FY2025 Project Detail(TCIP)(Includes TCIP#42) Actual Estimated Estimated Estimated Estimated Estimated Estimated Arterial Maintenance 718,788 5,200,0005,000,000 5,000,000 5,000,000 5,000,000 5,000,000 ____... Arterial Sidewalks 0 250,0.00 300,000 300,000 350,000 350,000 350,000 Bagdad Improvements(The Depot) 0 0 1,000,000_ 0 0 0 0 Bottleneck Program 1,053,552 1,276,000 1,35_0_,000 1,450,000 1,750,000 1,750,000 1,750,000 Burge Tract 3,000,001 County Road 112 East(CR 110 to 3,800'East/Caffey Development) 0 0 600,000 1,500,000 900,000 0 0 County Road 112 West(AW Grimes to CR 110) 0 500,000 2,000,000 7,450,000 11,200,000 6,000,000 5,350,000 Deepwood Drive 581,189 100,000 1,550,000 0 0 0 0 Gattis School Rd Segment 2(Lawnmont to Windy Park Dr) 0 0 400,000 2,150,000 5,200,000 2,500,000 2,500,000 Gattis School Road-Segment 3 616,109 5,233,900 0 8,690,000 9,175,200 0 0 Gattis School Road-Segment 6 1,361,377 2,000.000 12,675,000 1,720,000 0 0 0 Greenlawn Blvd(The District) 0 300,000 4,000,000 3,200,000 0 0 0 Kenney Ft.Blvd.Sag 2&3 Design 4,533,601 1,491,400 10,374,137 5,280,180 0 0 0 Kenney Ft Segment 4 20,656 2,000,000 7,000,000 3,000,000 0 0 0 Logan Bridge 195,358 1,900,000 1,76 5,000 0 0 0 0 Major Bridge Maintenance 1,525 0 0 0 0 0 0 Master Transportation Plan 0 0 0 600,000 0 0 0 McNeil Extension 1,256,485 2,500,000 0 0 0 0 0 N Mays St(Jeffrey Way to Old Settlers 0 200,000 575,000 1,325,000 0 0 0 Neighborhood Connectivity 0 100,000 250,000 250,000 250,000 0 6- Northeast Downtown Improvements 10,267 552,133 2,500,000 400,000 0 0 0 North Mays Street(Paloma to Oakmont) 1,411,952 1,600,000 388,000 0 0 0 0 Nutty Brown&Oakmont Drive Extension 640,822 200,000 3,635,200 300,000 0 0 0 Old Settlers Blvd(N Red Bud to CR 110) 0 1,500,000 3,100,000 6,700,000 4,250,000 2,500,000 0 Railroad Quiet Zones 1,208,324 1,000,000 0 0 0 0 0 Red Bud North(US 79 to CR 117) 348 500,000 6,020,800 7,675,000 1,600,000 0 0 Red Bud South 187 500,000 1,180,000 5,500,000 2,000,000 0 0 RM 620 RR Grade Separation/TXDOT Project 375,059 1,645,945 0 0 0 0 0 Roundville Lane-UPS 764,862 0 0 0 0 0 0 SH45 Frontage Roads 61,894 100,000 2,903,100 2,210,000 0 0 0 Signal Program 1,015,183 1,109,000_ 1,400,000 1,400,000 1,400,000 350,000 350,000 Southwest Downtown Phase 5 64,789 1,133 0 0 0 0 0 Southwest Downtown Phase 58 531,140 0 0 0 0 0 0 Texas Avenue 217,623 0 0 0 0 0 0 Transportation Design and Construction Standards 7,966 0 0 0 500,000 0 0 University Blvd 128,183 3,425,000 6,775,000 0 0 0 0 University East(AW Grimes to CR 110 242,128 400,000 8,757,900 4,800,000 0 0 0 Retainage for active projects 2,326,599 Wyoming Springs 12,914 627,100 480,000 880,000 4,000,000 4,000,000 4,000,000 TCIP Projects 22,358,881 36,211,611 85,979,137 71,780,180 47,675,200 22,450,000 19,300,000 Kalahari CIP(KCIP Convention Center 23,451,453 12,569,958 Offsite Improvements-Kenney FL Blvd.Seg 2&3 3,375,863 Offsde Improvements 4,260,470 5,200,000 1,108,995 KCIP Projects 27,711,923 17,769,958 4,484,858 0 0 Economic Development-NE Downtown Improvements Parking Garage&Land 2,657,388 8,349,000 2,393,612 Dry Utilities&Contingency 2,626.700 Economic Development-NE Downtown Improvements 0 2,657,388 2,626,700 8,349,000 2,393,612 Total TCIP Projects 50,070,804 56,638,957 93,090,695 80,129,180 49,968,812 22,450,000 19,300,000 City of Round Rock Type B Funds Economic FY2021 FY2022 FY2023 FY2024 FY2025 Total Com an Committed Estimated Estimated Estimated Estimated Estimated East Group Properties Phase 1 68,000 23,000_ 15,000 15,000 15,000 0 East Group Properties Phase 11 80,000 0 24,000 24,000 16,000 16,000 Investex 11,LLC 375,000 125,000 100,000 75,0.0.0 50,000 25,000 ovos(Michas Angelo's) 150,000 75,000 75,000 0 0 0 The Distrcit-Roads/Incentive 12,560,000 8.164,000 4,396,000 0 0 0 Total Economic Incentive Payments 13,233,000 8,387,000 4,610,000 114,000 81,000 41,000