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HomeMy WebLinkAboutIR 7053 IN* �'ORMAL REPORT TO CITY COUNCIL MEMBERS No. 7053 50PP* To the Mayor and Members of the City Council October 1, 1985 *rfX Subject: PRELIMINARY 1986-88 CAPITAL IMPROVEMENT PROGRAM For the past several months, the City staff has been working to recommend priorities for the 1986-88 Capital Improvement Program. The City Council will recall that initial departmental project submittals were shared with the Council and discussed at the June workshop. The staff is now prepared to present the Council and citizenry with a preliminary listing of projects for consideration. The recommended preliminary program totals $150 million and can be divided into the following major categories: I. Streets and Related Improvements $115 million II. Park and Recreation Improvements $ 15 million III. Library Improvements $10 million IV. Fire Safety Improvements $5.5 million V. Municipal Facilities Improvements $4.5 million (Animal Shelter, Southwest Police Sector Building, and completion of the City Hall plan) million (individual project descriptions are attached) In addition, two other projects should be considered and will be discussed below. The Council was previously advised that the date for the bond election should be February, 1986 based on the projection of when existing bond funds would be expended or obligated. With the working election date of February 4, 1986 as the reference point, a schedule of activities leading up to the election has been developed (ATTACHED). The schedule calls for a series of public input meetings to be held during the month of October. The purpose of these meetings is to explain the tentative listing of projects to interested citizens and to receive feedback on the citizens' perception of project priorities. It is anticipated that the Council will ultimately make several adjustments in the program based on this input, and then establish the final program for consideration by the public. Once the program is set and the election is called by the City Council in early December, another series of public meetings will be held for community groups of all types in order to explain the projects included in the final program. Each City Councilmember will have an opportunity to participate in these meetings during both rounds of presentations in their respective districts. [ISSUED BY THE CITY MANAGER FORT WORTH, TEXAS INFORMAL REPORT TO CITY COUNCIL MEMBERS No. 7053 p.2 JOP,-p To the Mayor and Members of the City Council October 1 , 1985 A� r X , Subject: PRELIMINARY 1986-88 CAPITAL IMPROVEMENT PROGRAM +6 73 Projecting the financial impact of the recommended bond program is difficult due to the assumptions which must be made about such critical factors such as interest rates and growth in assessed valuation. Nevertheless, an estimate has been developed. It is the staff's best estimate that the $150 million program would add, at most, 2.8 cents to the tax rate in 1986-87 and 4.8 cents by 1988-89 (DETAIL ATTACHED). It is also true that failure to proceed with a substantial capital improvement program at this time would significantly worsen the condition of municipal capital investments and retard economic development. These outcomes would likely lead to tax rate increases as well, but the size of these increases would be speculative. The tentatively recommended $150 million bond program does not address two capital improvements which have been discussed in connection with the Cultural District Masterplan. The staff seeks direction from the City Council regarding two particular projects with the potential for extraordinary benefits: 1) replacement of the horse barns at the Will Rogers complex and, 2) acquisition of the foundry site in the heart of the district. The horse barn project is estimated to cost $12 million. I recommend that Council request the voters' authorization of $8 million for this project and seek the remaining $4 million come from private sources. Based on this Sw understanding, the City bonds would not be sold unless the private funding does materialize. Fort Worth's national attraction is based to a large extent upon its cultural, entertainment and business ties with horse and ' livestock activities. The Will Rogers Complex is the largest and beat known location for these types of programs. The current horse barns are badly outdated, and must be replaced and enhanced if the horse and livestock programs are to remain viable attractions in Fort Worth. A second project should be given serious discussion during the weeks ahead. Despite great improvements to the Cultural District, including the recently donated Conservatory and Lecture Hall, an iron foundry remains located in the center of this important area. City Council should discuss the options to achieve its relocation before finalizing the capital improvements program. It should also be noted that , at this stage of the process, funds for the resurfacing and reconstruction of local and collector streets have not been associated with particular districts. Instead, priorities for these funds will be set in the citizen input process. A sum of $24 million has been recommended for this category. Also, another $12 million is recommended to match $6 million in Community Development Block Grant funds for the rebuilding of inner-city streets. Thus, a grand total of $42 million (bonds and CDBG) is recommended to be spent for street resurfacing and reconstruction over the next three years. It is anticipated that the bulk of these funds will be directed toward the inner-city districts. The planned use of these funds should be kept in mind when reviewing the geographic distribution of recommended projects. ISSUED BY THE CITY MANAGER FORT WORTH, TEXAS INFORMAL REPORT TO CITY COUNCIL MEMBERS No. 7053 p.3 To the Mayor and Members of the City Council October 1, 1985 Subject: PRELIMINARY 1986-88 CAPITAL IMPROVEMENT PROGRAM It is the staff's judgment that the tentative bond program outlined in this report addresses the highest needs of the community while being mindful of fiscal constraints. Obviously, many additional projects could have been recommended with persuasive justification. However, the recommended program attempts to strike a fine balance between Fort Worth's capital needs and our citizens' ability to pay. It is recommended that the City Council endorse the schedule and process outlined in this report and that we begin to conduct public input meetings in the immediate future. The staff will endeavor to keep all Councilmembers fully aware of the status of this important program as we progress through the schedule. Doug 4sJHarman City Manager ISSUED BY THE CITY MANAGER FORT WORTH, TEXAS