Loading...
HomeMy WebLinkAbout6. FY 2022-2026 - Capital Improvement Plan - final1 David Cooke –City Manager August 3, 2021 2 •Importance of Infrastructure Planning, Investment, and Execution •Assessed Values and Recommended Tax Rate •5-Year Capital Improvement Program (CIP) 3 4 Funding ExecutionOperations & Maintenance Strategy & Planning •Identify needs through comprehensive/strategic planning •Forecast resource requirements •Determine funding strategies •Project operating impact of capital projects 5 Funding ExecutionOperations & Maintenance Strategy & Planning •Align capital planning with annual budget process •Execute project delivery •Cash fund infrastructure maintenance •Evaluate new investment and maintenance based on equity 6 Economic Growth Equity Fiscal Solvency Quality of Life Resiliency Sustainability 7 Maintain Existing Infrastructure Ongoing, cash like revenues: •Property Tax •Gas Well Leases New Infrastructure Investment •Debt Instruments •Bonds, Notes, etc. •Impact Fees •Park Dedication Fees •Grants 8 •Approved and underway •Future City Hall and Council Chamber •Fire Station 45 (Highway 287 & Harmon Road) •Commander Road / Midfield Redevelopment (Meacham Airport) •Northside Community Center Renovation •2018 Bond Program in Progress •50% of funding committed •2022 Bond Program •Public outreach and engagement phase underway 9 10 61.22 64.93 67.01 74.91 83.71 91.38 103.36 109.59 116.69 44.27 47.08 49.63 54.52 60.95 67.58 76.99 79.88 87.37 $30 $40 $50 $60 $70 $80 $90 $100 $110 $120 $130 FY2014 FY2015 FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022BillionsTotal Appraised Value (billions) Net Taxable Value (billions) 11 FY2021 $79,878,186,534 +Change in taxable value $4,210,668,760 +New construction value $3,285,073,653 FY2022 $87,373,928,947 5.3% 4.1% 12 2021 Net Taxable Change in Taxable Value New Construction Value 2022 Net Taxable Tarrant $76,630,121,584 $3,791,781,919 $2,543,123,463 $82,965,026,966 Denton $3,034,758,779 $383,433,760 $681,073,172 $4,099,265,711 Parker $212,211,502 $34,954,363 $60,877,018 $308,042,883 Wise $1,094,669 $498,718 $0 $1,593,387 Total $79,878,186,534 $4,210,668,760 $3,285,073,653 $87,373,928,947 13 1.5¢$.7325 14 Overall $0.7325 Operations & Maintenance $0.5850 Operations $0.5200 Capital $0.0650 14 15 FY 2021 Adopted FY 2022 Recommended Change O&M 53.00 52.00 -1.00 PAYG 6.50 6.50 ---- I&S (Debt)15.25 14.75 -0.50 Total 74.75 73.25 -1.50 Values expressed as cents O&M = Operating and Maintenance | PAYG = Pay-As-You -Go | I&S = Interest and Sinking (Debt) 16 O&M = Operating and Maintenance | PAYG = Pay-As-You -Go | I&S = Interest and Sinking (Debt) 17 Assessed Property ValuesProperty Tax Revenues61.22 64.93 67.01 74.91 83.71 91.38 103.36 109.59 116.69 44.27 47.08 49.63 54.52 60.95 67.58 76.99 79.88 87.37 362 385 404 428 459 493 541 557 596 $300 $400 $500 $600 $700 $800 $900 $1,000 $1,100 $1,200 $1,300 $30 $40 $50 $60 $70 $80 $90 $100 $110 $120 $130 FY2014 FY2015 FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 MillionsBillionsTaxable Value Total Appraised Value Budgeted Property Tax Revenues 18 FY2021 Budget FY2022 Estimated Change O&M $394,786,148 $421,129,188 $26,343,040 PAYG 48,417,170 52,891,148 4,473,978 Economic Development 0 2,000,000 2,000,000 I&S (Debt)113,594,128 120,022,221 6,428,093 Total $556,797,446 $596,042,557 $39,245,111 O&M = Operating and Maintenance | PAYG = Pay-As-You -Go | I&S = Interest and Sinking (Debt) 19 •Reduces existing tax rate •Lower than the Voter Approved Rate (3.5% revenue cap) •Increases investment for infrastructure & maintenance •2018 Bond Program •Cash funding for infrastructure maintenance (PAYGO) •Continues Neighborhood Improvement Program and equity focus on infrastructure maintenance •Establishes an annual allocation for Economic Development incentives / strategic plan 20 •Commercial Assessed Values •Residential Assessed Values •New Growth 21 $- $20 $40 $60 $80 $100 $120 $140 $160 $180 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045 2046 2047 2048Millions Projected Debt Service Fund Revenues Existing Tax Supported Debt Service Tax Notes (2022-2047) for Fire Equipment Projected Debt Issuances for FY 2021 Projected $166.330 mm of Remaining 2018 Authorization Projected $603.975 mm 2022/23 Bond Program 21 $604 M 22 $- $20 $40 $60 $80 $100 $120 $140 $160 $180 $200 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045 2046 2047 2048MillionsProjected Debt Service Fund Revenues Existing Tax Supported Debt Service Tax Notes (2023-2048) for Fire Equipment Debt Issuances for FY 2022 Projected $83.165 mm of Remaining 2018 Authorization Projected $767.440 mm 2022/23 Bond Program $767 M 4% growth 23 $- $20 $40 $60 $80 $100 $120 $140 $160 $180 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045 2046 2047 2048Millions Projected Debt Service Fund Revenues Existing Tax Supported Debt Service Tax Notes (2023-2048) for Fire Equipment Debt Issuances for FY 2022 Projected $83.165 mm of Remaining 2018 Authorization Projected $584.940 mm 2022/23 Bond Program $585 M 2% growth 24 25 •Continue implementing 2018 Bond Program •Increase funding for infrastructure investment & maintenance •Continue improvements to city neighborhoods through Neighborhood Improvement Strategy •Better integrate 5-Year CIP and Comprehensive Plan •Projects/capital spending programs are sorted into: •General CIP •Aviation CIP •Public Events CIP •Stormwater CIP •Water CIP •Each CIP will reflect program/project appropriations •Each program/project is funded by various revenue sources 27 CIP Plans FY2022 FY2023 FY2024 FY2025 FY2026 Total Aviation 7,976,930 16,114,301 24,913,389 17,290,410 14,612,009 80,907,039 Public Events 4,991,000 10,120,000 3,945,000 8,545,000 6,930,000 34,531,000 General 150,789,549 121,174,329 100,985,249 103,838,538 103,928,900 580,716,565 Solid Waste 1,355,000 1,505,000 2,170,000 2,645,000 3,015,000 10,690,000 Stormwater 34,286,983 14,348,747 46,928,971 13,508,085 13,540,429 122,613,215 Water 242,676,979 191,739,091 198,018,828 284,013,312 217,823,753 1,134,271,963 Total $442,076,441 $355,001,468 $376,961,437 $429,840,345 $359,850,091 $1,963,729,782 Funding Sources $442,076,441 $355,001,468 $376,961,437 $429,840,345 $359,850,091 $1,963,729,782 28 General Plan FY2022 FY2023 FY2024 FY2025 FY2026 Total Asset Management 220,000 550,000 335,589 --1,105,589 Capital Outlay 27,015,339 26,263,990 26,800,087 27,381,114 27,950,779 135,411,309 City Facilities 40,537,400 20,647,500 7,206,000 6,691,000 5,671,644 80,753,544 Community Improvements 34,905,503 25,029,306 17,300,842 19,088,847 18,400,848 114,725,346 Information Technology 11,786,055 11,527,533 10,960,731 11,138,577 11,190,629 56,603,525 Transportation 36,325,252 37,156,000 38,382,000 39,539,000 40,715,000 192,117,252 Total $150,789,549 $121,174,329 $100,985,249 $103,838,538 $103,928,900 $580,716,565 29 •$20.4 million for Street Maintenance •$2.5 million for Sidewalks •$1.5 million for Street Lighting in Majority-Minority Areas •$850K for Transit Initiatives •$3.5 million for Neighborhood Improvement Strategy $4,473,978 increase in PAYGO funding in FY2022 30 PAYGO Project FY2021 FY2022 PAYGO Project FY2021 FY2022 Contract Brick Pavement $ 433,000 $ -Neighborhood Improvement Strategy $ 3,193,000 $ 3,502,000 Contract Bridge Maintenance $ 1,849,000 $ 1,835,000 Alleyway Maintenance $ 206,000 $ 204,000 Concrete Restoration $ 2,374,000 $ -PARD -New Enhancements $ 363,000 $ 698,000 Contract Street Maintenance $ 16,893,000 $ 20,441,000 Leveraging & Partnership Opportunities $ -$ 564,495 Street Maintenance $ 896,000 $ -PARD -Studies $ 200,000 $ 125,000 Traffic System Maintenance $ 5,759,000 $ 6,793,455 Nature Center Improvements $ 240,013 $ - MMA Street Lighting $ 515,000 $ 1,511,000 PARD -Roads and Parking $ -$ - Pavement Management -Reclamation $ 515,000 $ 511,000 PARD -Maintenance Replacement $ 2,341,987 $ 2,149,505 Pavement Markings $ 1,439,000 $ 1,428,000 Recreation Center Equipment Replace $ 94,170 $ 94,000 Sidewalks $ 765,000 $ 1,754,000 Additional Mowing Funds $ 1,030,000 $ 1,022,000 Implementation of Bus Route System Reorganization $ 250,000 $ -IT -ERP $ 1,071,000 $ 250,000 Transit -Medical District ZIPZONE $ 250,000 $ -IT -Business Applications $ 604,000 $ 859,401 Sidewalks –Transit Proximity $ 650,000 $ 785,000 IT -Technology Infrastructure $ 1,347,000 $ 2,385,292 Transit Initiatives $ 350,000 $ 850,000 IT -Vehicles $ 121,000 $ 45,000 Recurring Facility Maintenance & Repair $ 2,450,355 $ 1,850,168 Community Partnerships $ 750,000 $ 750,000 Roof Repair and Replacement $ 938,000 $ 2,004,187 Total $ 48,417,170 $ 52,891,148 Minor Repair and Renovation $ 529,645 $ 479,645 31 Project scope and budget identified in Capital Improvement Plan Mayor and Council appropriate funds for each project with the Capital Appropriation Ordinance Only Mayor & Council may amend: •Capital project scope •Total project budget •Appropriation Upon project closure & completion, remaining funds will be moved by Finance to a Capital Reserve Account 32 •Recommend FY 2022 Operating Budget (Aug 10) •Budget Work Sessions (Aug 19 & 20 and Sep 9 & 10) •Town Halls (TBD) •Public Hearings on Budget Items (Aug 24, Sep 14) •Adopt Operating Budget and 5-Year CIP along with FY 2022 Appropriation Ordinance (Sep 21) •Continue delivery of 2018 Bond Program •Planning for 2022 Bond Program 33 Questions / Comments