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TB-2022-011 - 7/28/2022
RESOLUTION NO. TB-2022-011 RESOLUTION ADOPTING THE 2022-2023 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 2022-2023 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 2022-2023 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 28th day of July, 2022. By: CRAIG M RGA President Round Rock Transportation and Economic Development Corporation ATTEST: Ja RICK VILLARRE L, Secretary 0112.20222;4871-5520-4649 EXHIBIT A» City of Round Rock Type B Funds DRAFT-For Discussion Purposes Only Actual Projected Proposed Estimated Estimated Estimated Estimated FY2021 FY2022 FY2023 FY2024 FY2025 FY2026 FY2027 Beginning Fund Balance $ 42,627,939 $ 118,109,692 $ 141,218,029 $ 79,826,798 $ 37,846,347 $ 32,367,698 $ 55,651,107 Revenue Sales Tax and Estimated Sales Tax 25,108,759 27,907,927 30,523,263 32,354,659 34,295,939 36,010,735 37,811,272 Interest 800,275 - - - - - - Transfer from KR Project Fund for CC Debt Service - 2,035,173 3,059,083 3,061,684 3,060,930 3,063,475 3,057,664 Kalahari Capitalized Interest 358,951 - - - - - - Donations/contributions 1,864,177 176,268 - - - - - CAMPO Funding 1,574,912 14,080,494 11,994,594 - - - - Williamson County Participation 253,882 7,258,772 15,350,000 12,649,993 4,000,000 - SIB Loan-Gattis School Segment 3 27,000,000 - - - - - Kalahan Bond Proceeds 20,336,048 Transportation CO Bond Proceeds 30,287,769 27,750,000 10,000,000 - - - - Reimbursement-Kalahari Offsite&Onsite Improvements 30,004,254 Other 614,265 Total Revenue 111,203,292 106,208,634 70,926,940 48,066,336 41,356,869 39,074,210 40,868,936 Transportation Expenditures TCIP Projects 22,395,867 65,054,291 113,724,558 73,113,100 39,850,000 7,450,000 8,050,000 Other Items:Legal Fees,Legal Notices&Traffic Signal Maintenance 108,816 150,000 700,000 714,000 728,280 742,846 757,703 Kalahari:Convention Center,On-Site&Off-Site Improvements, Issuance Costs 2,423,185 - - - - - - Debt Issuance Costs 287,084 300,000 150,000 - - - - Debt Principal&Interest 3,922,247 1,367,437 1,368,941 - - - - SIB Loan Debt Service - - - - - 1,907,000 1,903,860 Debt Service for Kalahari Road Debt&Conference Center 657,279 2,288,220 3,059,083 3,061,684 3,060,930 3,063,475 3,057,664 Transfers to Other Funds 11,192 - - - - - - Technical&Administrative Support Services 911,000 1,100,000 1,300,000 1,339,000 1,379,170 1,420,545 1,463,161 Subtotal Transportation 30,716,670 70,259,948 120,302,582 78,227,784 45,018,380 14,583,866 15,232,388 Economic Dev.Expenditures Chamber Agreement 708,750 880,012 751,913 774,470 797,704 821,635 846,284 Downtown Improvements&Marketing 527,089 250,200 300,200 250,200 250,200 250,200 250,200 Economic Development Projects-Committed 478,470 720,195 9,267,219 10,794,333 768,334 135,000 25,000 NE Downtown Parking Garage 1,833,107 8,533,294 450,000 - - - - NE Downtown Dry Utilities&Contingency 1,370,710 956,648 - - - - - S Mas Corridor Improvements 86,743 1,500,000 1,247,257 Subtotal Economic Development 5,004,869 12,840,349 12,016,589 11,819,003 1,816,238 1,206,835 1,121,484 Total Expenditures 35,721,539 83,100,297 132,319,171 90,046,787 46,834,618 15,790,701 16,353,872 Net Revenues 75,481,763 23,108,337 (61,392,231) (41,980,451) (5.477.749) 23.283.509 24,515,064 Fund Balance 118,109,692 141,218,029 79,825,798 37,845,347 32,367,598 55,651,107 80,166,171 Fund Reserve (1,000,000) (1,000,000) (1 000.000) (1,000,000) (1.000,000) (1,000,000) (1,000,000) Reserve for Kalahari CC Debt Payment (253,047) Available Fund Balance $ 116,856,645 $ 140,218,029 $ 78,825,798 $ 36,845,347 $ 31.367,598 S 54,651,107 S 79,166,171 City of Round Rock Type B Funds TCIP&Other Roadway Projects 2022 2023 2024 2025 2026 2027 Projected Proposed Estimated Estimated Estimated Estimated Project Detail(TCIP)(Includes Pending TCIP 947) 2021 Actuals Actuals Budget Budget Budget Budget Budget Arterial Maintenance $ 1,249,679 $ 4,995,947 $ 6,800,000 $ 5,000,000 $ 5,000,000 $ 5,000,000 $ 5,000,000 Arterial Sidewalks - 807,519 350,000 350,000 350,000 350,000 350,000 Bagdad Improvements(The Depot) - 600,442 499,558 - - - - Bottleneck Program 329,459 2,005,159 3,200,000 1,850,000 1,750,000 1,750,000 1,750,000 Chisholm Trail North(A miles N of Old Settlers to 1-35 Frontage Road) - 475,000 1,425,000 - - - - Chisholm Trail South(Sam Bass to Brushy Creek) - 200,000 300,000 500,000 - - - County Road 112 West(AW Grimes to CR 110) 411,139 3,428,735 11,200,000 12,000,000 8,000,000 - - Deepwood Drive 42,481 649,707 - - - - - Eagles Nest(Creek Bend to Cypress) - 200,000 800,000 - - - - Gattis School Rd Segment 2(Lawnmont to Windy Park Dr) - 750,000 3,000,000 5,000,000 4,000,000 - - Gattis School Road-Segment 3 1,373,871 1,075,170 3,600,000 9,000,000 10,100,000 - - Gattis School Road-Segment 6 1,004,256 1,675,495 11,500,000 6,000,000 - - - Greenlawn Blvd(The District) 126,201 1,469,843 3,750,000 2,000,000 - - Joyce Lane - 100,000 900,000 - - - - Kenney Ft.Blvd.Seg 2&3 300,038 10,899,962 11,000,000 - - - - Kenney Ft.Segment 4 3,689,148 2,826,713 10,000,000 - - - - Kenney Fort Segments 5&6 - 150,000 1,900,000 2,450,000 - - - Logan Bridge 1,301,908 228,092 - - - - - MasterTransportationPlan - 300,000 300,000 - - - 600,000 McNeil Extension 65,410 925,158 - - - - - Neighborhood Connectivity - 50,000 800,000 - - - - North Mays GapAAAdening 306,726 1,348,273 3,000,000 400,000 - - - North Mays Street(Paloma to Oakmont) 608,876 5,000 - - - - - Northeast Downtown Improvements 533,571 2,327,833 300,000 - - - - Nutty Brown&Oakmont Drive Extension 541,922 2,267,285 250,000 - - - - Old Settlers Blvd(N Red Bud to CR 110) 256,091 2,209,756 7,000,000 7,500,000 - - - Railroad Quiet Zones 87,876 817,508 - - - - - Red Bud North(US 79 to CR 117) 530,308 1,532,946 12,000,000 1,300,000 - - - Red Bud South 646,883 845,664 1,200,000 9,000,000 5,000,000 - - RM 620 RR Grade SeparationfrXDOT Project 408 - - - - - SH45 Frontage Roads - 300,000 1,600,000 3,313,100 - - - Signal Program 379,867 1,342,488 1,000,000 350,000 350,000 350,000 350,000 Transportation Design and Construction Standards - - 500,000 - - - - University Blvd 5,834,168 8,361,136 2,650,000 - - - - University East(AW Grimes to CR 110 2,082,931 8,692,616 3,000,000 - - - - US 79-Kalahari Offsite - 586 - - - - - US 79(11-135 to AW Grimes) - - 400,000 600,000 1,000,000 Wyoming Springs 981,796 1,190,258 9,500,000 6,500,000 4,300,000 - - Retainage for active projects (289,146) - - - - - - TCIP Projects Total 22,395,867 65,054,291 113,724,558 73,113,100 39,850,000 7,450,000 8,050,000 Kalahari CIP Convention Center 330,045 - - - - - - Onsite Improvements 750,000 - - - - - - Offsite Improvements-Kenney Ft.Blvd.Seg 2&3 - - - - - - - Offsite Improvements 1.007,809 - - - - - - Kalahari CIP Projects Total 2,087,854 - - - - - - Economic Development NE Downtown Improvements - - - - - - - Parking Garage&Land 1,833,107 8,533,294 450,000 - - - - Dry Utilities&Contingency 1,370,710 956,648 - - - - - Other - - - - - - S Mays Corridor 86,743 1,500,000 1,247,257 Economic Development Projects Total 3,290,560 10,989,942 1,697,257 Total TCIP Projects $ 27,774,281 $ 76,044,233 $ 115,421,815 $ 73,113,100 $ 39,850,000 $ 7,450,000 $ 8,050,000 City of Round Rock Type B Funds Economic Incentive Payments 2023 2024 2025 2026 2027 Total Proposed Estimated Estimated Estimated Estimated Company Committed Budget Budget Budget Budget Budget Ametrine,Inc $ 276,000 $ 69,000 $ 69,000 $ 69,000 $ 69,000 $ Boardwalk Technology LLC(East/West Mfg) 100,000 50,000 50,000 - - East Group Properties Phase 1 30,000 15,000 15,000 - - East Group Properties Phase 11 72,000 24,000 16,000 16,000 16,000 Investex 11,LLC 375,000 125,000 100,000 75,000 50.000 25,000 Kingsisle Entertainment 100,000 33,333 33 333 33.334 - - SDC Austin LLC 1,000,000 500,000 500.000 The District-Roads/Incentive 18,600,000 8,164,000 10,436.000 - UPS 211,886 211,886 Valex Corporation 225,000 75,000 75.000 75.000 - - Total Economic Incentive Payments $ 20,989,886 $ 9,267,219 $ 10,794,333 $ 768,334 $ 135,000 $ 25,000