R-2023-222 - 7/27/2023RESOLUTION NO. R-2023-222
WHEREAS, the Round Rock Transportation and Economic Development Corporation has
adopted a Five -Year Funds Allocation Plan ("Plan") for FY 2024-2028, 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 27th day of July, 2023.
CRAICLMORG)N, Mayor
City of Round/Cock, Texas
ATTEST:
ovbe �0 f L
MEAGAN S KS, y Clerk
0112.20232; 4891-7001-5601
EXHIBIT
„A„
Round Rock Transportation and Economic Development Corporation
5-Year Funds Allocation Plan 2024 - 2028
Beginning Balance - Funds Available 101112023 142,139,100
5-Year Revenue Forecast
Sales Tax 167,600,100
Contributions / Other 40,472,200
Total 5-Year Revenue Forecast 208,072,300
Fund Reserve (1,000,000)
Total 5-Year Funds Available 349,211,400
5-Year Transportation Projects
TCIP Programmed (includes pending TCIP amendment)
230,732,900
Other: Traffic Signals Maintenance, Admin, etc.
11,258,600
Debt Payments
5,645,200
5-Year Fund Programmed
247,636,700
Transportation Pipeline Planned Projects (1)
49,000,000
Total 5-Year Transportation Need
296,636,700
5-Year Economic Development Projects
Chamber Contract
4,642,600
Downtown Improvements & Marketing
1,251,000
Committed Economic Incentive (EIP) Payments
15,321,600
5-Year Fund Programmed
21,215,200
Economic Development Planned Projects
31,259,500
Total 5-Year Economic Development Need
52,474,700
Total 5-Year Expenditure Forecast
349,111,400
Net available to be allocated at end of 5-years 100,000
This allocation plan will be updated at least annually.
(1) Partial funding for future projects not currently funded in the TOP. To be re-evaluated once the
Transportation Master Plan Update is complete.
(2) Allows available funds for The District's agreement to be discussed.