HomeMy WebLinkAboutIR 24-1912INFORMAL REPORT TO CITY COUNCIL MEMBERS
No. 24-1912
To the Mayor and Members of the City Council October 22, 2024
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SUBJECT: 2026 BOND PROGRAM UPDATE
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The purpose of this report is to provide the City Council with an update on planning for the 2026 Bond
Program.
Financial Management Services analyzed the City's debt capacity and determined that the debt capacity
available for the 2026 Bond Program is approximately $800,000,000. Preliminary proposed projects for
the 2026 Bond Program have been submitted by Transportation & Public Works, Park & Recreation, Fire,
Police, Code Compliance, Neighborhood Services, Property Management, Library, and Open Space/Good
Natured Initiative. The preliminary proposed project totals for these departments roll up as follows, with
example projects shown.
DEPARTMENT REQUEST EXAMPLE PROJECTS
Transportation & Public Works $1,727,251,031 Arterials, Neighborhood Streets, Intersections
Park & Recreation $516,500,000 Park Improvements, Community Center Renovations
Fire $102,874,917 Fire Station 46, Fire Station 40, Refurbishments
Code Compliance $97,000,000 South Animal Shelter
Neighborhood Services $40,000,000 Housing Affordability Bond Program
Police $81,664,000 911 Communications Center, 7t" Patrol Division
Library $49,075,000 Far West Regional Library, Worth Heights Library
Open Space $22,500,000 Open Space Acquisition
Property Management $66,620,000 Combined West Service Center
TOTAL REQUESTED $2,703,484,948
This list does not currently include funding gaps on existing capital projects or requests from regional
partners for a City bond -funded contribution for ongoing projects such as the TexRail extension, the
Community Arts Center, etc. These and other projects may emerge during the public engagement phase
of bond program development.
The 2026 Bond Program staff working group has met multiple times to review City growth trends, discuss
debt capacity and anticipated bond program total resources, and to hear presentations from submitting
departments. Recent meetings of the 2026 Bond Program staff working group have focused on project
scoring methodology and scoring results. Additional meetings are occurring to refine project cost
estimates and to discuss project evaluation scores. Next steps include continuing to work with CMO and
departments leads to prioritize projects for recommendation to City Council prior to public engagement
meetings anticipated to start by early 2025.
Should you have any questions, please contact Christianne Simmons, FWLab Chief Transformation
Officer at 817 392 6222.
David Cooke
City Manager
Attachment: Exhibit A — 2026 Bond Program Schedule
ISSUED BY THE CITY MANAGER
FORT WORTH, TEXAS
IR Exhibit A
January 202 Provide 2026 Bond Program Overview IR to the City Council.
Early Spring 2024 — Departments submit projects requests (high level).
Spring 2024 — FMS prepares debt capacity estimate for bond funding.
• Review and recommend bond projects prioritization criteria.
Summer/Early Fall 2024 — Refine project lists and cost estimates.
• Collect project data, develop data -driven project scoring
methodology, prepare and run scoring model.
Fall 2024 — Prepare draft recommendations for project funding.
• Reprioritize/eliminate projects that are not buildable, too costly, or are
no longer priorities.
• Develop draft list of staff -recommended 2026 Bond Program projects for
City Council review.
Late 2024 — Provide draft projects list to City Council for approval to begin
public outreach.
Early 2025 — Public outreach meetings and online engagement begin and run
through Summer 2025.
Fall 2025 — Finalize bond projects list based on public input with City Council
approval by end of calendar year.
• Final adjustments to project costs.
January 2026 — Council sets bond election.
Spring 2026 — Public education meetings on 2026 Bond Program.
May 2026 — Bond election.
August 30, 2024