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TB-2023-011 - 7/27/2023
RESOLUTION NO. TB-2023-011 RESOLUTION ADOPTING THE 2023-2024 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 2023-2024 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 2023-2024 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 27th day of July, 2023. By: CRAI MORG , President Round Rock Trfinsportation and Economic Development Corporation ATTEST: lovoxm� RICK VILLARRE , Secretary 0112.20232;4883-8482-7761 EXHIBIT «A„ _J City of Round Rock Type B Funds DRAFT-For Discussion Purposes Only Actual Projected Proposed Estimated Estimated Estimated Estimated FY2022 FY2023 FY2024 FY2025 FY2026 FY2027 FY2028 Beginning Fund Balance E 117,866,100 E 164,331,600 E 142,139,100 E 90,024,000 $ 32,213,900 $ 36,664,700 $ 58,701,100 Revenue Sales Tax and Estimated Sales Tax 29,116,200 29,856,800 31,311,200 32,516,600 33,483,100 34,484,000 35,805,200 Interest&Other 1,735,500 655,500 851,300 500,000 500,000 500,000 500,000 CAMPO Funding 11,487,600 6,603,000 7,984,400 - - - - Williamson County Participation 1,616,200 7,707,700 10,825,000 16,422,000 2,389,500 - - SIB Loan-Gattis School Segment 3 27,000,000 - - - - - Transportation CO Bond Proceeds 28,101,200 - - - - - Total Revenue 99,056,700 44,823,000 50,971,900 49,438,600 36,372,600 34,984,000 36,305,200 Transportation Expenditures TCIP Projects 37,676,900 59,768,800 93,750,000 95,832,900 25,650,000 7,450,000 8,050,000 Other Items:Legal Fees,Legal Notices&Traffic Signal Maintenance 119,700 700,000 714,000 728,300 742,800 757,700 772,900 Debt Payments 1,812,000 1,368,900 - - 1,836,100 1,903,900 1,905,200 Technical&Administrative Support Services 1,100,000 1,300,000 1,365,000 1,433,300 1,505,000 1,580,300 1,659,300 Subtotal Transportation 40,708,600 63,137,700 95,829,000 97,994,500 29,733,900 11,691,900 12,387,400 Economic Dev.Expenditures Chamber Agreement 730,000 901,900 874,500 900,700 927,700 955,500 984,200 Downtown Improvements&Marketing 182,800 300,200 250,200 250,200 250,200 250,200 250,200 Economic Development Projects-Committed 1,145,200 369,900 6,133,300 8,103,300 1,010,000 50,000 25,000 NE Downtown Parking Garage&Improvements 8,346,300 1,036,900 - - - - - S Mays Corridor Improvements 1,478,300 1,268,900 - - - Subtotal Economic Development 11,882,600 3,877,800 7,258,000 9,254,200 2,187,900 1,255,700 1,259,400 Total Expenditures 52,591,200 67,015,500 103,087,000 107,248,700 31,921,800 12,947,600 13,646,800 Net Revenues 46,465,500 (22,192,500) (52,115,100) (57,810,100) 4,450,800 22,036,400 22,658,400 Fund Balance 164,331,600 142,139,100 90,024,000 32,213,900 36,664,700 58,701,100 81,359,500 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 E 163,331,600 $ 141,139,100 E 89,024,000 S 31,213,900 E 35,664,700 b 57,701,100 $ 80,359,500 City of Round Rock Type B Funds TCIP&Other Roadway Projects 2023 2024 2025 2026 2027 2028 Projected Estimated Estimated Estimated Estimated Estimated Project Detail(TCIP)(Through Approved TCIP#49) 2022 Actuals Actuals Budget Budget Budget Budget Budget Arterial Maintenance $ 3,701,600 $ 5,214,000 $ 5,000,000 $ 5,000,000 $ 5,000,000 $ 5,000,000 $ 5,000,000 Arterial Sidewalks 11,000 696,500 700,000 450,000 350,000 350,000 350,000 Bagdad Improvements(The Depot) 156,200 943,800 - - - - - Bottleneck Program 869,700 3,002,100 1,000,000 1,750,000 1,750,000 1,750,000 1,750,000 Chisholm Trail North(A miles N of Old Settlers to 1-35 Frontage Road) 280,700 1,219,300 5,500,000 2,000,000 - - - Chisholm Trail South(Sam Bass to Brushy Creek) - 600,000 400,000 - - - - County Road 112 West(AW Grimes to CR 110) 695,500 3,133,200 9,500,000 16,000,000 5,300,000 - - Deepwood Drive - 649,700 - - - - - Eagles Nest(Creek Bend to Cypress) - 300,000 700,000 - - - Gattis School Rd Segment 2(Lawnmont to Windy Park Dr) - 200,000 1,000,000 10,550,000 1,000,000 - - Gattis School Road-Segment 3 298,500 676,600 7,000,000 10,000,000 5,800,000 - - Gattis School Road-Segments 4&5 - 350,000 1,200,000 450,000 - - - Gattis School Road-Segment 417,600 1,499,300 10,000,000 7,970,000 - - - Greenlawn Blvd(The District) 77,300 392,600 5,500,000 1,250,000 - - - Joyce Lane 521,500 478,500 - - - - - Kenney Ft.Blvd.Seg 2&3 9,684,900 11,715,100 1,500,000 - - - - Kenney Ft.Segment 124,600 7,875,400 10,000,000 - - - - Kenney Fort Segments 5&6 64,600 635,400 2,000,000 1,800,000 - - - Logan Bridge 150,400 - - - - - - Master Transportation Plan 50,300 623,700 - - - - 600,000 McNeil Extension 29,900 1,115,300 - - - - - Neighborhood Connectivity - - - 850,000 - - - North Mays Gap/Widening 97,500 600,800 4,050,000 - - - - North Mays Street(Paloma to Oakmont) 68,100 9,200 - - - - - NortheastDowntownlmprovements 2,422,100 655,700 - - - - - Nutty Brown&Oakmont Drive Extension 2,324,900 192,400 - - - - Old Settlers Blvd(N Red Bud to CR 110) 992,000 2,167,800 3,150,000 8,000,000 2,400,000 - - Railroad Quiet Zones 33,700 409,700 - - - - - Red Bud North(US 79 to CR 117) 218,600 814,300 11,500,000 2,300,000 - - - Red Bud South 778,200 917,500 2,750,000 10,000,000 1,600,000 - - SH45 Frontage Roads 200 - - 5,212,900 - - - SignalProgram 349,900 492,700 1,050,000 750,000 750,000 350,000 350,000 Transportation Design and Construction Standards - 250,000 250,000 - - - - University Blvd 6,227,800 4,883,300 - - - - - University East(AW Grimes to CR 110 4,936,600 6,756,000 - - - - US 79(IH 35 to AW Grimes) - - 1,000,000 1,000,000 - - - Wyoming Springs 671,400 298,900 9,000,000 10,500,000 1,700,000 - - Retainage for active projects 1,421,600 - - - - - TCIP Projects Total 37,676,900 59,768,800 93,750,000 95,832,900 25,650,000 7,450,000 8,050,000 Economic Development NE Downtown Improvements Parking Garage&Land 7,081,100 927,600 - - - - - Parking Garage Retainage 346,400 - - - - - - Dry Utilities&Contingency 918,700 109,300 - - - - Other S Mays Corridor 1,478,300 1,268,900 1 - - - - - Economic Development Projects Total 9,824,500 2,305,800 - - Total TCIP Projects $47,501,400 $ 62,074,600 $ 93,750,000 $ 95,832,900 $25,650,000 $ 7,450,000 $ 8,050,000 https://roundrocktexas.sharepoint.com/sites/FfN-FinDiv/Division Files/Budget/FY 24/06 Fund Schedule/Type B/Type B FY24 Fund Schedule-6-21-23 City of Round Rock Type B Funds Economic Incentive Payments 2024 2025 2026 2027 2028 Total Proposed Estimated Estimated Estimated Estimated Company Committed Budget Budget Budget Budget Budget Ametrine,Inc $ 207,000 $ 69,000 $ 69,000 $ 69,000 $ $ Boardwalk Technology LLC(East/West Mfg) 50,000 50,000 - - East Group Properties Phase 1 15,000 15,000 - - East Group Properties Phase II 48,000 16,000 16,000 16,000 Investex 11,LLC 375,000 125,000 100,000 75,000 50,000 25,000 Kingsisle Entertainment 66,600 33,300 33,300 - - - Komico Technology 750,000 250,000 250,000 250,000 SDC Austin LLC 500,000 500,000 - The Distrcit-Roads/Incentive 12,560,000 5,000,000 7,560,000 - Toppan Photmasks 600,000 - - 600,000 - - Valex Corporation 150,000 75,000 75,000 - - - Total Economic Incentive Payments $ 15,321,600 $ 6,133,300 $ 8,103,300 $ 1,010,000 $ 50,000 $ 25,000