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HomeMy WebLinkAboutIR 10232 INFORMAL REPORT TO CITY COUNCIL MEMBERS No. 10232 January 29, 2019 To the Mayor and Members of the City Council Page 1 of 2 SUBJECT: TRVA QUARTERLY PROJECT UPDATE The Trinity River Vision Authority (TRVA) has begun publishing quarterly project status reports. These quarterly reports include information on funding status and expenditures, project phasing, construction progress, and program schedule. The TRVA Board of Directors suggested at their last meeting that this report be shared with the board of each of the local partner agencies. To that end, please find attached the most recent report. City staff will forward future quarterly reports as they are published. Note that both the financials and the current status of Phase 1 referenced in the attached report cite the updated $1.168B program budget, which includes new scope items that, among other things, support redevelopment of the interior island. Funding for this additional scope is contingent upon the proposed term-extension of TIF #9 and the sale of voter-approved bonds by TRWD, both of which are pending the completion of the TRV Programmatic Review. The proposed funding for the increased budget, by source, is shown in the table below. The funding from TRWD, the City of Fort Worth, and Tarrant County has been directly expended by those local partners, while the TIF funds, although also local funds, are generated by the incremental increase in tax base and captured for the purpose of financing the project. The funds from the proposed TIF extension would be used to repay the TRWD bonds. Not included in the funding contributions listed above is the value of the interest-free project loan from TRWD, which is estimated at approximately $140M for the current loan balance. ISSUED BY THE CITY MANAGER FORT WORTH, TEXAS INFORMAL REPORT TO CITY COUNCIL MEMBERS No. 10232 January 29, 2019 To the Mayor and Members of the City Council Page 2 of 2 SUBJECT: TRVA QUARTERLY PROJECT UPDATE Regarding the TIF funds, the estimated amount by contributing entity, both for the original term and the proposed extended term, are shown in the following table. Finally, the White Settlement, Henderson, and North Main Street bridges, which are contracted and managed by TxDOT, has slipped past the dates shown on the attached reportcompletion and is working on resolving schedule issues in order to issue updated completion dates for all three bridges. Should you have any questions regarding this report or the progress of the program, please contact Kate Beck, Sr. Capital Projects Officer, at 817-392-7918 David Cooke City Manager ISSUED BY THE CITY MANAGER FORT WORTH, TEXAS Rvbsufsmz!Qspkfdu!Tubuvt!Sfqpsu!!}!!!3129! ! UIF!USJOJUZ!SJWFS!WJTJPO0! HBUFXBZ!QBSL!0!QBOUIFS!JTMBOE! 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CONTRACT PACKAGE NIA 01, FED- PRELIMI NARY DESIGN NIA 02, LAND PURCHASE NIA 03, RELOCATION NIA 04, DEMOLITION NIA 05, ENVIRONMENTAL NIA 06, STORM DRAINAGE SYSTEM WA 07, SANITARY SEWER & TIATER SYSTEM N/A 08, FRANCHISE UTILITIES ®9, HENDERSON STREET BRIDGE 10, MAIN STREET BRIDGE ®11, WHITE SETTLEMENT STREET BRIDGE NIA 12, PROGRAM MANAGEMENT 13, SAMUELS AVENUE VALLY STORAGE 14, HAM BRANCH VALLEY 9TORAGEIECOSYSTEM 15/16, RIVERSIDE PARK VALLEY STORAGE/RECREATION 17, ROCKWOOD PARK VALLEY STORAGE 18, ROCKWOOD PARK ECOSYSTEM 19, UNIVERSITY DRIVE VALLEY STORAGE SIM L . f 20, GATEV/AY/OXBOW AREA VALLEY STORAGE . 21, GATEV/AY/OXBOW AREA ECOSYSTEM -22, GATEV/AY/OXBOW AREA RECREATION 23.01, BYPASS CHANNEL SEGMENT NORTH SEGMENT 23.02, BYPASS CHANNELSEGMENT NORTH SEGMENT 24.01, BYPASS CHANNEL SEGMENT SOUTH SEGMENT 24.02, BYPASS CHANNEL SEGMENT SOUTH SEGMENT 25, CLEAR FORK GATE 26, TRINITY POINT GATE 27128, TRWD GATEISTORM WATER PUMP STATION 29, SAMUELS AVE DAM 90, MARINE CREEK DAM & LOCK 31, MARINE CREEK CHANNEL EXPANSION 32, TRINITY POINT PEDESTRIAN BRIDGE 33, MAIN STREET PEDESTRIAN BRIDGE 34, WEST FORK PEDESTRIAN BRIDGE NIA 35, LOCAL STREET MODIFICATIONS ®36 WHITE SETTLEMENT EXTENSION 2400ACRESOFPROPERTY a PROTECTED BECAUSE 37, INTERIOR WATER FEATURE OF PROJECT