Link

Social

Embed

Disable autoplay on embedded content?

Download

Download
Download Transcript


[CALL TO ORDER]

[00:00:03]

AT TWO O'CLOCK, I BELIEVE WE HAVE A QUORUM PRESENT.

SO I'LL, UH, ASK LIAISON TO CALL THE ROLE.

COMMISSIONER CURRY HERE.

COMMISSIONER MCNABB? HERE.

COMMISSIONER DIAZ? UH, HERE.

COMMISSIONER GONZALEZ.

WE CAN'T HEAR YOU.

I WANNA RAISE HIS HAND.

CAN YOU RAISE YOUR HAND? OKAY.

COMMISSIONER LUCA.

COMMISSIONER MCC COURSE.

COMMISSIONER RODRIGUEZ.

COMMISSIONER RINN.

SO WE HAVE A QUORUM.

I'LL CALL THE MEETING TO ORDER.

UM, I'M A LITTLE BIT CONCERNED THAT THE PEOPLE COMMUNICATE THAT PARTICIPATING VIRTUALLY CAN.

WOULD ONE OF THE OTHER COMMISSIONERS TRY, UH, YOUR MICROPHONE? I WANNA MAKE SURE YOU'RE ABLE TO ANS ASK QUESTIONS.

CAN YOU HEAR ME? YES.

THANK YOU.

THANK YOU VERY MUCH.

OKAY.

, HOW ABOUT NOW? CAN, CAN YOU ALL HEAR ME? YES, SIR.

THANK YOU VERY MUCH.

OKAY.

UH, SO WE CALLED THE MEETING, UH, THE BOND OVERSIGHT COMMISSION TO ORDER.

ARE, IS THERE ANY PUBLIC COMMUNICATIONS? NO, SIR.

UH, SO THE FIRST ORDER OF

[1. Approval of the minutes of the Regular meeting of the Bond Oversight Commission on April 17, 2024.]

BUSINESS IS APPROVAL OF THE MINUTES.

YOU'VE HAD A COPY OF THE MINUTES DISTRIBUTED AHEAD OF TIME.

ARE THERE ANY, UH, QUESTIONS, CORRECTIONS TO THE MINUTES? IF I COULD JUST JUMP BACK TO THE ROLL CALL AND JUST I'M HERE.

YES, SIR.

THANK YOU.

OKAY, GREAT.

THANKS.

IF THERE ARE NO CORRECTIONS OR QUESTIONS, I BELIEVE COMMISSIONER WR HAS ALSO JOINED THE MEETING, SO WE'LL SHOW YOU AS PRESENT.

I'LL ENTERTAIN A MOTION TO APPROVE THE MINUTES.

MOTION TO APPROVE THE MINUTES.

MOTION IS MADE.

IS THERE A SECOND? SECOND.

MOTION IS MADE.

AND SECONDED.

ALL THOSE IN FAVOR SIGNIFY BY SAYING AYE.

OR RAISING YOUR HAND.

AYE.

AYE.

OPPOSED? SAME SIGN.

SEEING NONE.

THE MOTION TO APPROVE THE MINUTES IS APPROVED UNANIMOUSLY.

UM, BEFORE WE GO TO THE NEXT ORDER OF BUSINESS, I'D ALSO LIKE TO INTRODUCE A COMMISSIONER, UH, WHO'S IN THE PROCESS OF TAKING A SEAT.

UH, JC WOULD YOU LIKE TO STEP UP AND INTRODUCE YOURSELF? SURE.

HI, EVERYONE.

UH, MY NAME IS JC DWYER AND I'M IN PROCESS TO BECOME YOUR NEW COLLEAGUE HERE FROM DISTRICT EIGHT ON THE COMMISSION.

UM, I ASKED TO JOIN TODAY BECAUSE I'M, I'M STILL BEING TRAINED, UH, TO BE ON COMMISSION DESPITE THE FACT THAT THIS IS MY THIRD CONSECUTIVE COMMISSION, BUT THE CITY TELLS ME I HAVE TO DO IT AGAIN.

UM, SO, UH, JUST REALLY QUICK A LITTLE BIT ABOUT ME.

UH, I PREVIOUSLY SERVED ON THE CHARTER REVIEW COMMISSION AS WELL AS LIBRARY COMMISSION FOR FOUR YEARS.

UM, MY PROFESSIONAL BACKGROUND IS HELPING NONPROFITS TO, UH, PERFORM BETTER ADVOCACY AND CIVIC ENGAGEMENT FOR PUBLIC POLICY OUTCOMES, UH, SPECIFICALLY AROUND SOCIAL WELFARE POLICY AND FOOD ACCESS.

SO I'M, I'M VERY FAMILIAR WITH HOW POLICY MAKING WORKS AND HOW IT LANDS IN COMMUNITIES, UH, SPECIFICALLY LOW INCOME COMMUNITIES.

UH, UNLIKE MANY OF YOU, I I DO NOT HAVE A VERY STRONG BACKGROUND IN FINANCE, UH, INSTRUMENTS OR BONDS.

UM, MY DAD WAS AN INVESTMENT BANKER, BUT IN SPITE OF THAT, OR PERHAPS BECAUSE OF IT, I CHOSE A VERY DIFFERENT CAREER PATH.

SO I APPRECIATE, UH, YOUR, UM, LISTENING TO ALL MY DUMB QUESTIONS OVER THE NEXT FEW MONTHS AS I GET CAUGHT UP AND LOOKING FORWARD TO WORKING WITH YOU.

UM, MY EMAIL IS ACTIVE, SO, UM, PLEASE FEEL FREE TO REACH OUT.

THANK YOU.

I LOOK FORWARD TO SEEING YOU AT OUR NEXT MEETING AND TAKING PART.

UM, THE NEXT ORDER

[2. Briefing by Financial Services Department on the Capital Project Development Process]

OF BUSINESS ON THE AGENDA THEN WOULD BE THE PRESENTATION.

AND, UM, AM AS PART OF INTRODUCING THE PRESENTATION, UH, I HAVE CIRCULATED A DRAFT I MADE OF THE DIFFERENT STEPS IN THE CAPITAL IMPROVEMENT PROGRAM.

UM, HOW A AN IDEA MOVES THROUGH THE PROCESS OF BECOMING A PROJECT APPROVED BY VOTERS IN A BOND ELECTION AND THEN GOES ON THROUGH THE BUDGET PROCESS AND

[00:05:01]

THEN IS FINALLY TRACKED, UM, AS THE PRO AS A PROJECT, AS IT, UH, IS PUT TOGETHER.

THE INTENT OF THE DISTRIBUTING THE DIFFERENT STEPS WAS TO HELP US BETTER UNDERSTAND THE WHOLE PROCESS AS OPPOSED TO LOOKING AT PIECES OF IT.

AND PARTICULARLY AS WE TALK ABOUT WHAT BENCHMARKS WE NEED AND HOW WE NEED TO TAILOR THE OVERSIGHT, UM, HOW THAT ALL FITS INTO THE DIFFERENT STEPS IN THE PROCESS.

SO AS WE GO THROUGH THE DISCUSSION TODAY, UM, WE'LL PROBABLY BE REFERRING BACK TO THAT LIST OF STEPS.

I, THIS IS JUST A DRAFT, UM, AND I STILL HAVE QUESTIONS ABOUT SOME OF THE ITEMS ON THERE.

I'M NOT SURE THAT, UM, THERE THE LIST IS COMPLETE OR THAT THE LIST IS CORRECT.

UH, AND WE'LL BE TRY, I'LL BE TRYING TO UPDATE IT AS WE GO.

AND WITH THAT, I'D LIKE TO INTRODUCE OUR PRESENTATION.

GOOD AFTERNOON.

UM, MY NAME IS STEVEN LYNETTE.

I'M ACTING SERVING AS THE ACTING BUDGET AND PERFORMANCE MANAGER AT THE FINANCIAL SERVICES DEPARTMENT.

AND I'M JOINED BY BELINDA WEAVER, TREASURER FOR THE CITY.

UM, WE'RE HERE TO TALK A LITTLE BIT ABOUT THE PROCESS FROM GOING FROM CAPITAL, BIG IDEAS IN THE CAPITAL IMPROVEMENT PROGRAM DOWN TO THE BUDGETING AND ACTUALLY IMPLEMENTING THE PROJECTS.

UM, SO HERE'S THE START.

FIRST OF ALL, LIKE I SAID, WE'LL BE COVERING A HIGH LEVEL VIEW OF THE CAPITAL IMPROVEMENT PROGRAM PROCESS.

WE'LL LOOK BACK AT THE 2018 PROGRAM, HOW THAT WAS DEVELOPED.

AND THEN BELINDA WILL SPEAK SOME ON THE DEBT ISSUANCE PROCESS THE CITY HAS.

AND THEN LASTLY, WE'LL TAKE A LOOK AT OUR ACTIVE, UM, BOND PROGRAMS. SO THIS, UH, UPSIDE DOWN PYRAMID IS SHOWING KIND OF HOW THIS PROCESS GOES FROM THE BIGGEST IDEAS.

THIS CAPITAL NEEDS IDENTIFICATION AND PLANNING PROCESS DOWN TO OUR FINAL PIECES OF THE CAPITAL BUDGET.

SO AT THE TOP LEVEL WE HAVE CAPITAL NEEDS IDENTIFICATION.

THIS COULD BE THINGS LIKE THIS FROM THE TOP, REALLY IMAGINE AUSTIN.

UM, INDIVIDUAL DEPARTMENT PLANS.

SO THE LIBRARY, STRATEGIC PLAN, PARKS, LONG RANGE PLAN, UM, OTHER REINVESTMENT NEEDS RELATED TO ASSET MANAGEMENT.

UM, REQUIREMENTS TO KEEP ALL OF OUR SYSTEMS AND BUILDINGS AND FACILITIES AND LAND RUNNING, UM, AS WELL AS THEY CAN FROM THERE.

UM, I THINK IN WITH RELATION TO THE BOND PROGRAMS, UM, YOU MIGHT INCLUDE LIKE BOND DEVELOPMENT AS KIND OF A SIDE PIECE BETWEEN THE CAPITAL NEEDS IDENTIFICATION AND THE FIVE YEAR CIP SINCE REALLY IT'S A LITTLE BIT OF ITS OWN, UM, NEEDS DEVELOPMENT PROCESS THROUGH THE BOND ELECTION TASK FORCE AND ALL THE COMMUNITY ENGAGEMENT AND INTERNAL WORK WE DO, BUT ALSO REALLY PUTTING THE FUNDING SOURCE IN PLACE FOR THAT FIVE YEAR CIP PLAN.

WHICH GETS US DOWN TO THE NEXT LEVEL.

THE FIVE YEAR CAPITAL IMPROVEMENT PLAN.

THIS IS PRINTED ALONG WITH THE BUDGET DOCUMENT NOW AND SHOWS EVERYTHING DEPARTMENTS ARE GOING TO DO OR ARE EXPECTED TO DO OVER THE NEXT FIVE YEARS.

SO IT'S NOT SHOWING CONCEPTS THAT ARE UNFUNDED, IT'S SHOWING THINGS THAT WE REALLY ARE GONNA NAIL DOWN AND FINISH WITH, UM, FUNDS THAT ARE EITHER ON HAND NOW OR THAT WE'RE FAIRLY CERTAIN ARE GONNA COME, UM, COME TO FRUITION IN FUTURE APPROPRIATIONS.

SO OUR FIVE YEAR PLAN GOING FROM FISCAL YEAR 24, THE CURRENT FISCAL YEAR THROUGH 28 IS ABOUT 11 AND A HALF BILLION DOLLARS.

AND JUST FOR SOME CONTEXT, ONLY ABOUT 13% OF THAT IS, UM, PUBLIC IMPROVEMENT BONDS.

UM, SO THE VAST MAJORITY OF IT IS FROM AIRPORT UTILITIES AND OTHER UM, SOURCES.

UM, AND OUR 24 PLAN WAS ABOUT $1.6 BILLION AND ABOUT A QUARTER OF THAT WAS FROM PUBLIC IMPROVEMENT BONDS, WHICH MAKES SENSE.

OUR LAST PROGRAM WAS IN 2018.

SO AS WE'RE SPENDING THAT DOWN, YOU'D EXPECT THAT TO TAPER OFF IN THE OUT YEARS OF THIS FIVE YEAR PLAN.

AND THE LAST PIECE, THE CAPITAL BUDGET IS REALLY WHERE WE GET THE AUTHORITY TO SPEND FROM COUNCIL.

SO LAST CAPITAL BUDGET, WE APPROPRIATED $1.76 BILLION.

UM, LIKE YOU COULD SEE IT DOESN'T NECESSARILY MATCH THE SPENDING PLAN BECAUSE OUR AUTHORITY DOESN'T GO AWAY UNTIL THAT FUNDING IS DE APPROPRIATED.

STEVEN, DO YOU MIND IF WE ASK QUESTIONS AS WE GO? SURE.

UM, I THINK IT MIGHT BE HELPFUL TO MAKE IT KINDA A TALKING SESSION INSTEAD OF A PRESENTATION.

[00:10:02]

DOES COUNCIL APPROVE THE CIP? IT'S AS A PART OF LIKE THE BUDGET DOCUMENT? YES.

YES.

AND THE, THE A PROJECT IN THE BOND ELECTION, ARE THOSE PROJECTS IN A PREVIOUS CIP ARE THEY NEW PROJECTS? IT COULD BE EITHER OR.

SO IF THERE'S A PROJECT THAT'S ALREADY BEEN IN DEVELOPMENT THAT DOESN'T HAVE SUFFICIENT FUNDING TO FINISH UP, THEN YOU COULD SEE IT CARRY FORWARD OR IT COULD BE BRAND NEW.

SO LET'S TAKE LIBRARIES FOR EXAMPLE, AND LIBRARY.

I'M SURE SOMEWHERE OR OTHER HAS A PLAN LONG RANGE PLAN OF WHERE WE NEED BRANCH LIBRARIES.

MM-HMM.

, UM, SOME OF THOSE FUTURE LIBRARIES THAT ARE NOT YET, UM, IN A BOND PROGRAM, WOULD THEY BE IN THE CF IN AND OUT NEAR OF THE CIP? NO.

IF IT'S, IF IT'S NOT A PROJECT THAT HAS REALLY FUNDING LINED UP, WE'RE NOT GONNA SHOW IT IN THE CIP PLAN.

OKAY.

YEAH.

THANK YOU.

YOU'RE WELCOME.

DO COMMISSIONS OR ANYBODY ELSE HAVE QUESTIONS? EXCUSE.

SO THE BOND ADVISORY COMMITTEE AND THE PUBLIC INPUT PROCESS.

MM-HMM.

IS BETWEEN TOP TWO LAYERS.

RIGHT? I THINK THAT'S, I THINK THAT'S WHAT I HEARD YOU SAY.

IT'S, IT'S REALLY LIKE A ROLLING CYCLE.

SO I MEAN, THERE COULD BE ANOTHER BOND PROGRAM THAT HAPPENS IN THE MIDDLE OF THIS.

I MEAN, WE'RE UPDATING THE CIP PLAN EVERY SINGLE YEAR.

MM-HMM.

.

SO IT'S KIND OF BETWEEN THE TWO, BUT IT'S ALL HAPPENING AT THE SAME TIME.

IT'S REALLY JUST THE CIP PLANS, A SNAPSHOT IN TIME AND THINGS COULD BE HAPPENING IN PUBLIC ENGAGEMENT PROCESSES AROUND THAT.

OKAY.

THANK YOU.

AND DOES THE, DOES THE COUNCIL APPOINTED BOND ADVISORY COMMITTEE, WELL, FIRST OF ALL, I KNOW IT'S BEEN A PRACTICE TO HAVE A BOND ADVISORY COMMITTEE.

IS THAT PROVIDED FOR ANYWHERE AS A REQUIREMENT IN THE CHARTER OR ANY PLACE ELSE? I'M NOT AWARE OF, YEAH.

I'M NOT AWARE OF.

OKAY.

BUT IT IS, TRADITIONALLY THEY DO, THEY APPOINT THE BOND OF BUZZ COMMITTEE BEFORE THEY CALL A BOND ELECTION.

SO IT'S SORT OF THE ANNOUNCEMENT ON THE PART OF COUNCIL THAT THEY'RE CONSIDERING A BOND ELECTION AT SOME POINT IN THE FUTURE.

YEP.

OKAY.

THANKS.

I SAID THERE'S A DISCUSSION YESTERDAY AT COUNCIL WORK SESSION ABOUT A FUTURE PROCESS FOR BOND DEVELOPMENT THAT CAPITAL DELIVERY SERVICES DID WITH FINANCIAL SERVICES THAT HAS SOME MORE INFORMATION ON THE PERSPECTIVE PLAN GOING FORWARD.

UM, I FOUND THIS RETROSPECTIVE LOOK AT HOW 2018 LEFT AS AN EXAMPLE, WENT AS AN EXAMPLE.

UM, SO COUNCIL CALLED FOR THE TASK FORCE TO BE FORMED IN AUGUST, 2016.

AT THAT POINT, THEY WERE STILL MAYBE CONSIDERING A 2017 ELECTION, UM, OR 2018 WAS MY UNDERSTANDING.

SO THAT'S WHY IT'S A LITTLE BIT EARLIER THAN WE MIGHT EXPECT.

UM, THROUGHOUT 2017, UM, THE TASK FORCE WAS MEETING, THEY SET UP A NUMBER OF WORKING GROUPS, WHICH YOU COULD KIND OF, SORRY, THIS SLIDE'S A LITTLE BIT SMALL, BUT WORKING GROUPS.

THEY HAD FOR REINVESTMENT IN FACILITIES AND ASSETS, TRANSPORTATION INFRASTRUCTURE, STORM WATER, PARKLAND, AND OPEN SPACE AND AFFORDABLE HOUSING.

THOSE WORKING GROUPS WORKED IN THEIR SPECIFIC FOCUS AREAS WITH STAFF AND AMONG EACH OTHER.

UM, GOT BACK TOGETHER IN THE BIG GROUP WHERE THEY KIND OF DECIDED ON THEIR RECOMMENDATIONS, WHICH WENT TO COUNCIL IN APRIL, 2018.

UM, THERE WERE A FEW CHANGES FROM APRIL TO MAY, UM, PRIMARILY WITH, UH, FIRE STATIONS.

THE NEW FIRE STATIONS GOING TO NON VOTER APPROVED DEBT INSTEAD OF THIS, UM, VOTER APPROVED ELECTION IN NOVEMBER.

UM, AND FROM THERE, COUNCIL DIRECTED THE MANAGER TO CALL THE ELECTION IN JUNE.

IN AUGUST, THEY PASSED THE BALLOT LANGUAGE AND THE CONTRACT WITH THE VOTERS.

UM, AND FOLLOWING THAT, UM, STAFF HAD A NUMBER OF COMMUNITY OPEN HOUSES.

I THINK WE DID ONE IN EACH DISTRICT, PLUS WE'RE CALLED OUT TO VARIOUS OTHER SESSIONS.

UM, COMMUNITY HAD OPPORTUNITY TO REQUEST THOSE.

I THINK WE DID SOME NEIGHBORHOOD ASSOCIATIONS AND OTHERS AS WELL.

UM, AND THEN NOVEMBER, 2018 WAS THE BOND ELECTION.

SO BASICALLY THE BOND ADVISORY COMMITTEE WAS FORMED TWO YEARS BEFORE THE ELECTION IN THIS CASE.

YEAH.

YEP.

IN THAT, IN THAT CASE.

YEAH.

MM-HMM.

DIDN'T HAVE TO BE, BUT IN THAT CASE.

RIGHT, RIGHT.

AND WHEN THE BOND ADVISORY, UM, TASK FORCE MAKES A RECOMMENDATION, UH, IS IT FOR PROJECTS OR PROJECTS AND MONEY? BOTH.

IT REALLY COULD BE ANYTHING.

I MEAN, IT COULD BE BOTH.

UM, HOW

[00:15:01]

THIS ONE WORKED AS STAFF AT THE START, WE KIND OF HAD LIKE A BALLPARK ESTIMATE AT THE STARTING POINT OF HOW LARGE THE PROGRAM MIGHT BE.

AND WE PRESENTED A FEW OPTIONS AT DIFFERENT LEVELS.

CAN'T REMEMBER THE EXACT VALUES, BUT IT WAS SOMETHING BETWEEN LIKE 300 MILLION AND 800 MILLION I THINK WAS THE INITIAL.

UM, SO THERE WERE KIND OF, WHAT WOULD YOU DO WITH THIS AMOUNT? WHAT WOULD YOU DO WITH THIS AMOUNT? WHAT WOULD YOU DO WITH THIS AMOUNT? AND STAFF FROM THE DEPARTMENTS BROUGHT IT TO THOSE WORKING GROUPS, UM, WHAT THEIR RECOMMENDATIONS.

SO IT KIND OF JUST WENT FROM THERE.

UM, DISCUSSIONS HAPPENED AND THEY ARRIVED AT THEIR RECOMMENDATION BY APRIL FOR COUNSEL.

I WAS JUST GONNA STATE, UM, JUST KIND OF FOLLOWING UP ON STEVEN'S, UM, DISCUSSION OF THE 2018.

I, I DON'T KNOW IF STEVEN GRACE WANTS TO, UM, YOU KNOW, PROVIDE ANY CONTEXT ON DEVELOPMENT OR ANY SORT OF, UH, DISCUSSIONS, UH, FROM CDS ON HOW THEY'RE, UH, PLANNING TO IMPLEMENT THE FUTURE, UH, COMPREHENSIVE BOND PROGRAM.

I KNOW THAT THERE WAS DISCUSSION AT, UH, WORK SESSION YESTERDAY, SO SURE.

SO THIS IS A PRIORITY FOR CDS, FOR THE NEW DEPARTMENT.

AND THE PRESENTATION THAT YOU REFERRED TO YESTERDAY, IT'S BEEN, UM, SOCIALIZED AMONG THE, THE DEPARTMENTS NOW AND CITY STAFF IS WHERE CAN WE START TO MAKE IMPROVEMENTS IN THE PREPARATORY AND THE PLANNING PROCESS FOR THE NEXT POTENTIAL BOND TO REALLY HAVE A MORE, UM, A BETTER DEFINED SET OF PROJECTS, SCOPE, SCHEDULE, BUDGET, ALL THOSE THINGS, UM, LAID OUT SO THAT THE FINAL PRODUCT THAT GOES TO VOTE ISN'T, UM, CONCEPTUAL IT A BUCKET OF MONEY TOWARD A A, A MOBILITY PROGRAM OR TOWARD A ANYTHING ELSE THAT THE BOND'S GONNA COVER.

IT'S A PRETTY CLEAR LIST OF THIS PROJECT AND THIS AMOUNT AT THIS COST.

SO WHAT WAS PRESENTED YESTERDAY IS A ROADMAP.

IF YOU KNOW, A NOTIONAL TWO YEAR PLANNING TIMEFRAME, WHAT WOULD IT TAKE TO WALK THROUGH THAT PROCESS? HOW WOULD WE MAKE THE BEST USE OF WHAT HAS WORKED IN THE PAST, THOSE DIFFERENT MEETINGS, THAT DIFFERENT SCALE? UM, WHERE DO WE NEED TO HAVE ADDITIONAL CONVERSATIONS OR ALTERNATIVE CONVERSATIONS? WHERE DO WE NEED TO START? UM, REALLY RAMPING UP ON THE, THE TECHNICAL SIDE AS FAR AS THE, UM, A MORE REFINED SCHEDULE, A MORE REFINED COST ESTIMATE WHILE WE'RE HAVING THOSE CONVERSATIONS WITH THE COMMUNITY AND MAKING SURE THE REQUIREMENTS ARE THE NEEDS THAT WE REALLY NEED TO MEET.

SO HOW DO WE MAKE THOSE TWO THINGS COME TOGETHER IN KIND OF A SIX MONTH, 12 MONTH, 18 MONTH TIMEFRAME? WHAT DO THOSE MILESTONES LOOK LIKE? SO THAT CONCEPT WAS LAID OUT.

I'M SURE THERE'LL BE MORE TO COME, BUT WE ARE, WE'RE DEFINITELY COMMUNICATING AMONGST, UM, ALL CITY DEPARTMENTS AND HOW WE CAN WORK TOGETHER TO, TO MAKE THIS A SUCCESS.

SO WOULD IT BE APPROPRIATE TO SCHEDULE THAT PRESENTATION TO THE BOND OVERSIGHT OR JUST GET A COPY, HAVE NICOLE GET US A COPY OF THE PRESENTATION? UH, WE CAN ABSOLUTELY GET A COPY OF THE PRESENTATION AS A, THIS IS A FIRST STEP AND THEN YOU CAN DECIDE, UM, AMONGST THE COMMISSION.

IS IT, YOU KNOW, DO YOU HAVE ADDITIONAL QUESTIONS ON TOP OF WHAT WAS ALREADY PRESENTED? GREAT.

THAT MAKES SENSE.

GO FROM THERE.

THANK YOU.

JUST A QUICK QUESTION ON LIKE, THE HISTORY OF HOW THESE THINGS WORK OUT.

UM, WHEN YOU ALL DID THIS BACK IN 2018, WAS THE BOND COMMISSION AROUND, 'CAUSE I WAS WONDERING WHY Y'ALL, WHY THE CITY COUNCIL HAD AT THAT TIME DECIDED TO HAVE AN ADDITIONAL TASK FORCE? WAS THIS GROUP CONVENING IN 2018? YES.

YEAH, THE GROUP WAS CONVENING AND, UM, THE TASK FORCE WAS FORMED, UH, I THINK FROM AN ENGAGEMENT PERSPECTIVE, UM, TO GET MORE FEEDBACK FROM, UM, THE VARIOUS DISTRICTS.

THAT'S MY, THAT'S MY BACKGROUND.

I AM, I ACTUALLY SERVED ON THE TASK FORCE.

UM, AND UM, GOING BACK TO THE OVERALL PROCESS, WE HAD THE, THE CIP PLAN PRESENTED TO US BASED ON NEEDS ASSESSMENT, AND THEN THE ENGAGEMENTS FROM CONSTITUENTS CAME INTO PLAY AS WELL.

RIGHT.

AND SO, UM, BASED ON THAT, WE, WE ROLLED UP A PLAN AND THAT'S WHAT WAS, UH, PRESENTED IN ON THE BALLOT.

DID YOU WANNA MENTION THAT YOU WERE ALSO IN THE TASK FORCE ? SO THE, THE BOND OVERSIGHT COMMISSION WAS SORT OF UNOFFICIALLY OR OFFICIALLY REPRESENTED IN SAN DIEGO? YES.

WHAT CAN YOU TELL US ABOUT THE, THE WAY THAT AT THAT POINT IN TIME, THE WAY THAT YOU CAME UP WITH DOLLAR AMOUNTS FOR THE PROJECTS THAT WERE GONNA GO ON THE BOND ELECTION? YEAH.

WELL, THERE, THERE, THERE WERE BUDGETS INCLUDED IN THE, THE NEEDS ASSESSMENT THAT WAS PROVIDED TO THE TASK FORCE FROM THE CITY.

UM, SO WE HAD THOSE INPUTS AND THEN THERE WERE COMMUNITY PRESENTED, UH, PROJECTS THAT HAD, SOME HAD

[00:20:01]

A LOT OF BUDGET AND FEASIBILITY AND PRELIM REPORTS ON IT, AND SOME OF THEM DIDN'T HAVE ANY.

RIGHT.

SO, UM, DEPENDING ON, UM, WHO WAS KIND OF LOBBYING FOR THE PROJECT, UM, HOW MUCH IMPACT IT WOULD HAVE ON THE COMMUNITY, YOU KNOW, PUBLIC SAFETY VERSUS CULTURAL VERSUS, YOU KNOW, GOING DOWN THE LINE.

SO, UM, AND, UH, YOU KNOW, UNFORTUNATELY SOME PROJECTS GOT PUT IN THERE THAT, UM, YOU KNOW, DIDN'T HAVE A BUDGET, DIDN'T HAVE A TIMELINE, THEY WEREN'T REALLY SCOPED OUT AS WELL AS THEY PROBABLY SHOULD HAVE.

SO I DEFINITELY WELCOME, UM, THIS NEWER PROCESS, BUT THERE'S GOTTA BE A WAY TO INCLUDE, UM, FEEDBACK FROM CONSTITUENTS.

RIGHT? UM, AND, AND I THINK THERE'S GOTTA BE A CRITERIA THAT'S INVOLVED CRITERIA IN TERMS OF, SO LIKE VET, RIGHT? I MEAN, WE, WE CAN'T JUST VOTE ON SOMETHING THAT WE DON'T KNOW ANYTHING ABOUT, RIGHT? FROM HOW MUCH WHEN, HOW AWARE, ET CETERA.

OKAY.

THANKS.

THANKS.

AND JUST, UH, THIS IS A QUICK ROLLOUT OF HOW IMPLEMENTATION STARTED.

UM, IN THOSE FIRST FIVE MONTHS AFTER THE BOND ELECTION, UM, MANY OF THE DEPARTMENTS WERE SEEING DOLLAR FIGURES THAT WERE MANY TIMES WHAT THEY WERE DELIVERING, UM, BEFORE THAT.

SO, UM, THERE WAS A LOT OF FIGURING OUT HOW TO MAKE THAT WORK.

UM, WE JUST EITHER THROUGH FIGURING OUT NEW CONTRACTING METHODS WE HADN'T USED BEFORE.

SO THERE WERE A NUMBER OF ALTERNATIVE DELIVERY, UM, CONSTRUCTION, UM, METHODOLOGIES USED IN THE 2018 PROGRAM.

UH, WE HIRED EXTERNAL PROJECT MANAGEMENT IN SOME CASES.

UM, WE JUST DID BASICALLY ANYTHING TO MAKE THIS HAPPEN AS QUICKLY AS POSSIBLE AND MAKE SURE WE WERE ABLE TO DELIVER THIS WITHIN THE EIGHT YEARS THAT WAS, UM, LISTED IN THE CONTRACT WITH THE VOTERS.

UM, SO THE FIRST APPROPRIATION FROM THE BOND CAME ABOUT FIVE MONTHS AFTER THE ELECTION IN EARLY MARCH.

UM, WE APPROPRIATED ABOUT ONE SIX OF THE TOTAL AMOUNT.

SO THAT WAS FOR EARLY OUT PROJECTS, UM, THAT WERE READY TO GO ALREADY.

UM, THERE WERE SOME BIG LAND ACQUISITIONS THAT WATERSHED COMPLETED, UM, JUST RIGHT OUT THE GATE AND, UM, TO GET ROLLING ON DESIGN AND, UM, ON OTHER PROJECTS.

UM, SO IN AUGUST, 2019, UM, THE FIRST DEBT ISSUANCE WAS AUTHORIZED BY COUNCIL FROM THAT, FROM THE BOND PROGRAM.

UM, MORE APPROPRIATIONS HAPPENED IN 2019 CAPITALS, BUT 1920 NINETEENS CAPITAL BUDGET AND, UM, IN CAPITAL BUDGETS FROM THERE OR NOW TOTALLY APPROPRIATED RIGHT.

AND HAVE BEEN FOR A FEW YEARS NOW, UM, FOR THIS 2018 PROGRAM, AND ARE ABOUT 57% SPENT, WHICH IS PRETTY CLOSE TO ON TARGET, I'D SAY LIKE, UM, LOOKING AT FIVE YEARS IN AN EIGHT YEAR PROGRAM.

THAT'S 62 AND A HALF AND WE'RE NOT TOTALLY THROUGH THE FIFTH YEAR.

SO, UM, IT'S OVERALL AT A LARGE HIGH LEVEL, IT'S MOSTLY ON TRACK.

ONE OF THE, YOUR MARCH, 2019, UH, ITEM APPROPRIATION OF 2018 BOND FUNDS AND REIMBURSEMENT RESOLUTION.

COULD YOU TALK, EXPLAIN THAT ABOUT THE REIMBURSEMENT RESOLUTION OR SECOND? SECOND.

SO, I MEAN, AS FAR AS THE REIMBURSEMENT RESO RESOLUTION, UM, FOR THOSE 2018 BOND FUNDS, UM, THE REIMBURSEMENT RESOLUTION IS STRICTLY PUT IN PLACE, RIGHT? IT'S A RESOLUTION APPROVED BY COUNSEL AND IT'S STRICTLY PUT IN PLACE SO THAT WE CAN KEEP THE TAX EXEMPT STATUS OF THE BONDS ONCE THEY'RE ISSUED.

SO YOU CAN START ON THE PROJECT RIGHT AND SPEND, BUT WE'RE NOT GOING TO ISSUE THE BONDS UPFRONT.

WE WILL THEN REIMBURSE OURSELVES, WE WILL PAY FOR THOSE COSTS AND THEN REIMBURSE OURSELVES AT A LATER TIME FROM BONDS ISSUED.

AND I'LL KIND OF GET THROUGH THAT WITH OUR NEXT SLIDE, WHICH IS GONNA LOOK VERY FAMILIAR TO THIS COMMISSION.

IT'S, UM, IN MY ANNUAL, UH, GEO BOND PRESENTATION, IT'S THE STEPS TO SELL OR ISSUE THE DEBT.

AND, UM, THE FIRST THING WE ALWAYS NOTE IS THAT, UH, THE PROCESS TO DEVELOP THE CURRENT YEARS DEBT ISSUANCE STARTED LAST BUDGET CYCLE.

SO YOU'LL SEE HERE THIS SPRING 2023 FOR THIS YEAR'S, UM, BOND ISSUANCE, IT'S WHEN THE DEVELOPMENT OF THE CIP PLAN HAPPENED.

UM, THE PROJECTS THAT ARE BEING FUNDED, WERE APPROPRIATED THOSE FUNDS DURING THE ANNUAL CAPITAL BUDGET APPROPRIATION PROCESS.

AND THEN AGAIN, UM, AS WE JUST DISCUSSED, UH, THE CITY DOES UTILIZE THOSE REIMBURSEMENT RESOLUTIONS TO APPROPRIATE FUNDS TO THE PROJECTS WITHOUT HAVING TO ISSUE THAT DEBT UPFRONT.

AND BY DOING THIS, THE CITY DOES LIMIT ITS ARBITRAGE EXPOSURE.

IT ALSO DOESN'T HAVE TO PAY INTEREST ON IDLE BOND PROCEEDS THAT HAVEN'T BEEN SPENT YET.

[00:25:01]

AND THEN IT'S JUST GOOD FISCAL CASH MANAGEMENT.

UM, SO WHEN WORKING WITH STEVEN AND BUDGET THIS YEAR, UH, WE WILL ANALYZE AND WE HAVE ALREADY STARTED TO ANALYZE THE TRENDS, THE SPENDING TRENDS IN COMPARISON TO VARIOUS PROJECT SPENDING PLANS, UM, WHICH WE'LL GET INTO IN JUST A MOMENT.

UM, AND AFTER LOOKING AT THAT DATA, WE LOOK AT HOW MUCH AND PROCEEDS THOSE PARTICULAR PROJECTS HAVE RECEIVED IN THE PAST, AND ONLY THOSE PROJECTS THAT ARE FORECASTED TO HAVE LOAD AND NEGATIVE BALANCES WILL BE ISSUED AS PART OF THIS YEAR'S GEO BOND SALE.

SO IT'S ALSO IMPORTANT, IMPORTANT TO NOTE, UM, THAT WORK ON THESE VARIOUS BOND PROGRAMS, UM, DO CONTINUE TO PROGRESS EVEN IF THE DEBT'S NOT ISSUED.

AND I CAN GET INTO A LITTLE BIT MORE REGARDING THE SUMMER, SPRING, AND FALL TIMELINE REGARDING THE DEVELOPMENT OF THE BOND SALE SCHEDULE, UM, THE PRELIMINARY OFFICIAL STATEMENT, WHAT THAT IS, THE COUNCIL ACTION ON BOND SALES, AND THEN THE ACTUAL BOND SALE AND CLOSING, IF THE COMMISSION WOULD, LIKE, I HAD A, I HAD A QUESTION ABOUT REIMBURSEMENT RESOLUTION.

SO WHEN, WHEN THE PROJECT IS APPROPRIATED, UH, IS IT APPROPRIATED, UH, IN TOTAL OR IN PART? IT, IT'LL VARY.

UM, IT'LL VARY AND THE, ONCE IT'S APPROPRIATED, THEN THE CITY HAS THE AUTHORITY TO SPEND.

AND SO THAT AUTHORITY CAN BE BASED ON, UH, EITHER BOND SALES OR REIMBURSEMENT RESOLUTION.

I THINK WHAT I UNDERSTOOD YOU TO BE SAYING IS THAT AS A PRACTICALITY, DO WE, IS A, IS A REIMBURSEMENT RESOLUTION BLANKET FOR ALL THE PROJECTS OR INDIVIDUAL FOR INDIVIDUAL PROJECTS THERE? FOR INDIVIDUAL PROJECTS, CORRECT.

AND SO ARE THEY ALL DONE AT THE VERY BEGINNING OR ARE THEY DONE AT THE TIME THAT THEY'RE GONNA GO IN THE CAPITAL BUDGET? I'M NOT SURE ON THE CAPITAL BUDGET ASPECT OF IT.

I THINK THAT, UM, AT THE ONSET OF THE PROJECT, UH, THE REIMBURSEMENT RESOLUTIONS ARE PUT INTO PLACE.

USUALLY WE'LL HAVE THE REIMBURSEMENT RESOLUTION ALONGSIDE BUDGET AMENDMENTS.

UM, USUALLY LIKE RIGHT AFTER WE PASS THE BUDGET DOCUMENT, I THINK IN THE PAST IT WAS EVEN THE SAME MEETING.

UM, THEY'LL DO THE REIMBURSEMENT RESOLUTIONS FOR THOSE, FOR THAT APPROPRIATE AMOUNT FOR THOSE THAT ARE APPROPRIATED THE APPROPRIATION.

YEAH.

SO TO BE IN THE CIP YOU DON'T NEED, UH, YOU DON'T NEED AUTHORIZED BONDS, RIGHT? IF YOU HAVE ANOTHER SOURCE, RIGHT? YEAH.

UH, AND YOU DON'T NEED A REIMBURSEMENT RESOLUTION, BUT AT THE TIME THAT IT GOES IN THE CAPITAL BUDGET, BECAUSE THAT'S WHEN YOU NOW HAVE AUTHORITY TO START SPENDING MONEY.

YES.

UH, THE BOND ELECTION DOES NOT GIVE YOU AUTHORITY TO SPEND MONEY.

SO WHEN IT GOES IN THE CAPITAL BUDGET, YOU EITHER HAVE, UH, BOND SOLD OR REIMBURSEMENT RESOLUTION OR BOTH.

YEAH.

OR, OR CASH OR SOME OTHERS, BUT YEAH, OUTSIDE.

OKAY.

GOT IT.

THANKS.

MM-HMM.

? YES, MA'AM.

UM, I THINK, OKAY, Y'ALL HAVE TO FORGIVE ME.

MY KNOWLEDGE OF BONDS COMES FROM LISTENING TO THIS GROUP.

SO, UM, I KNOW THAT, WELL, I'M LOOKING AT THIS LIKE THE 2018 BOND IMPLEMENTATION.

I WAS LOOKING AT A FEW SLIDES BACK.

UM, I KNOW THE AFFORDABLE HOUSING LIST IS ON HERE, AND THE GROUP RECOMMENDED AND RECEIVED 161 MILLION WHEN, IF I'M NOT MISTAKEN, I THINK LIKE TWO, MAYBE THREE YEARS AGO, WE REDID THAT BOND TO ADD MORE MONEY TO THE AFFORDABLE HOUSING.

SO DOES THAT MONEY GET STACKED ONTO THIS MONEY? OR IS IT TREATED AS A SEPARATE BOND? SO, UH, THE, THE PROPOSITION WAS ACTUALLY FOR 250 MILLION IN THE END, I THINK LIKE THE EARLIER RECOMMENDATION WAS FOR LESS.

AND THEN THROUGH THE PROCESS COUNSEL ADDED ABOUT 90 MILLION AT, AT THE ENDING POINT.

BUT THEN THERE WAS AN ADDITIONAL BOND ELECTION FOR MORE AFFORDABLE HOUSING MONEY.

AND I THINK THE ANSWER IS, IT GETS ADDED ON TO, IT'S A SEPARATE, IT'S A SEPARATE PROPOSITION AND A SEPARATE AUTHORIZATION.

UM, BUT IT ADDS ON TO THE MONEY THAT'S AVAILABLE FOR AFFORDABLE HOUSING, IF, IF THAT MAKES SENSE.

THANK YOU GUYS.

RIGHT.

SO YEAH, 2022 PROP A WAS THE AFFORDABLE HOUSING ONE FOR 350 MILLION MORE, BUT YEAH, DIFFERENT, DIFFERENT AUTHORIZATION.

BUT, UM, SAME PROCESS.

.

UM, SO THIS CHART WAS SOMETHING THAT COMMISSIONER CUR OR BOARD CHAIR CURRY ASKED FOR.

UM, LOOKING AT

[00:30:01]

THE AUTHORIZATION OF THE ACTIVE BOND PROGRAMS THAT ARE IN PROGRESS NOW, EXPENSES TO DATE, THIS IS THROUGH, UM, APRIL, END OF APRIL 20, 24TH.

UM, THE PERCENTAGE SPENT LOOKING AT THE PERCENTAGE OF, UM, BONDS ISSUED TO DATE, AND THEN THE PERCENT ISSUED.

SO I KNOW THIS IS LIKE A REALLY, REALLY BUSY CHART, BUT, UM, THE IDEA IS TO SHOW THAT WE'RE USUALLY TRAILING WITH THE BOND ISSUANCES AFTER WE HAVE THE EXPENSES LIKE BELINDA EXPLAINED BEFORE.

UM, WE'RE ONLY SELLING DEBT WHEN WE ARE GETTING CLOSE TO BEING IN THE RED OR IN THE RED FOR THESE SPECIFIC APPROPRIATIONS EXPLAIN IN THE RED.

SO I THINK THAT THOSE FUND BALANCES, THOSE, THOSE PROJECT FUND BALANCES ARE, UM, ESSENTIALLY HAVE A NEGATIVE BALANCE.

SO AS YOU SEE HERE, EXPENSES FOR THESE PROJECTS ARE AT, UM, IN TOTALITY, RIGHT? IS A LITTLE OVER A BILLION ISSUED SO FAR IS 834 MILLION, BUT THAT'S DUE TO THE FACT THAT WE HAVEN'T FACTORED IN THIS YEAR'S PUBLIC IMPROVEMENT BOND, OUR GEO ISSUANCE FOR THIS YEAR.

SO ONCE, ONCE WE GET THAT ISSUE, THOSE NUMBERS SHOULD PRETTY MUCH BE IN SYNC.

AND I THINK, UM, STEVEN CAN MOVE TO THE NEXT SLIDE AND YOU CAN KIND OF SEE IT FROM A GRAPHICAL PERSPECTIVE WHERE THEY KIND OF CONVERGE RIGHT THERE AT THE 2023, THE SPEND AND THE ISSUANCE FOR THE DEBT.

RIGHT? SO THIS WAS JUST AN EXAMPLE OF THAT PROCESS.

THIS IS FOR 2018 ONLY.

UM, YOU COULD JUST KIND OF SEE OVER TIME, WE'VE PRETTY MUCH ALWAYS TRACKED A LITTLE BIT BEHIND IN, UM, EXPENSES.

EXPENSES.

WERE ALWAYS A LITTLE BIT BEHIND ISSUANCES THIS PAST YEAR.

WE JUST HIT IT BASICALLY A HUNDRED PERCENT.

WE'RE RIGHT ON THE MARK WITH EXPENSES FOR ISSUANCES.

WE HAVE THE SPENDING THAT'S HAPPENED TO DATE THIS YEAR, SO ABOUT 90 MILLION MORE THAT'LL BE COVERED IN THE SALE.

WE COME IN THE UPCOMING SALE.

SO DOES THAT MEAN THEN, WHEN IT COMES TIME TO APPROVE THE BOND SALE AND WHAT PERCENT OF THE MONEY IN THAT BOND SALE HAS ALREADY BEEN SPENT? I DON'T HAVE EXACT, I MEAN, JUST AS A WORD I, IF I WERE TO USE A BALLPARK, I WOULD SAY PROBABLY OVER 75% IS SPENT ALREADY.

SO HOW MUCH OF A CHOICE IS THERE REALLY ABOUT THE BOND SALE AS FAR AS FLEXIBILITY FOR, I MEAN, AT THAT POINT, 75% OF THE MONEY IS OUT THE DOOR.

MM-HMM.

.

AND YOU'RE, WHICH IS ALL LEGAL BECAUSE YOU'VE GOT A REIMBURSEMENT RESOLUTION THAT THE CITY HAS BASICALLY USED THE CASH TO UPFRONT THE, THE MONEY.

SO WHAT WOULD HAPPEN IF YOU DID NOT HAVE THE BOND SALE? WELL, THERE ARE TIMELINES THAT GO INTO PLAY WITH REIMBURSEMENT RESOLUTIONS.

UM, SPECIFICALLY THAT, UH, THE, THE BONDS WOULD HAVE TO BE ISSUED AND IT'S PART OF THE REIMBURSEMENT RESOLUTION IN AND OF ITSELF THAT'S APPROVED BY COUNSEL.

SO THE PARAMETERS THAT SURROUND THAT IS EITHER THE LATER OF 18 MONTHS AFTER EXPENDITURE OR, UM, WHEN THE PROJECT IS PUT IN PLACE, BUT NO LATER THAN THREE YEARS AFTER THE EXPENDITURE.

SO YOU'VE GOT THAT, YOU'VE GOT THAT TIMELINE AND THAT'S PART OF THE REIMBURSEMENT RESOLUTION THAT'S BEEN AUTHORIZED BY COUNSEL.

SO YOU HAVE TO STAY WITHIN THOSE PARAMETERS AND THOSE REIMBURSEMENT RESOLUTIONS, YOU HAVE TO REMEMBER, THEY ARE PRESERVING THAT TAX EXEMPT STATUS OF THE BONDS.

MM-HMM.

IT'S AN IRS DOCUMENT.

SO IF THESE BONDS WERE EVER TO BE AUDITED BY THE IRS, THIS IS ONE OF THE FIRST DOCUMENTS THEY'RE GONNA LOOK FOR AND LOOK INTO.

AND, AND THE REASON I'M ASKING THE QUESTION IS THAT, YOU KNOW, THE TREASURY COMES TO THE BOND OVERSIGHT COMMISSION WITH A PROPOSED BOND SALE, UM, AND, AND GOES TO COUNCIL WITH A PROPOSED BOND SALE.

UM, BUT THERE IS A LIMIT TO THE DISCRETION THAT ANYONE HAS AT THAT POINT.

NOT THAT, I MEAN, EVERYTHING HAS BEEN DONE AS IT, AS IT SHOULD, AS IT SHOULD BE DONE.

I'M JUST TRYING TO PUT INTO PERSPECTIVE WHAT THE QUESTION ACTUALLY IS WHEN IT COMES TIME TO APPROVE THE BOND SALE.

AND I THINK, UM, A WAY TO LOOK AT THIS IS THAT THE REIMBURSEMENT RESOLUTIONS ARE TAKEN TO COUNCIL.

SO THERE'S THE FULL EXPECTATION THAT WE WILL BE ISSUING THE BONDS RIGHT.

TO FUND YEAH.

FOR THESE PROJECTS.

RIGHT? SO THE DECISION IS REALLY MADE AT THAT POINT IN TIME.

UM, AND, AND THAT, I'M NOT SUGGESTING THAT THERE'S ANYTHING AT ALL WRONG WITH THE PROCESS.

I'M JUST TRYING TO

[00:35:01]

EXPLAIN WHAT REAL DECISION DO YOU HAVE TO MAKE WHEN IT COMES TIME TO APPROVE THE BOND SALE SCHEDULE? BECAUSE COUNSEL HAS ALREADY APPROVED A REIMBURSEMENT RESOLUTION THAT SAYS THESE BONDS WILL HAVE TO BE SOLD WITHIN THIS TIMEFRAME.

CORRECT.

SO YOU BASICALLY COULD, UH, IF YOU, YOU KNOW, WE'RE, IF YOU LOOKED AT THE NITTY GRITTY OF THE CALENDAR, YOU MIGHT POSTPONE PART OF THE BOND SALE AND MAY AS LONG AS YOU WERE SURE YOU STAYED WITHIN THAT LIMIT.

SO THAT, THAT'S ONE PIECE OF DISCRETION THAT YOU HAVE, RIGHT? I WOULD SAY POSSIBLY, YES.

, UM, I, I WOULD SAY AS A PRACTICAL, UM, COURSE OF ACTION THOUGH, WE'RE, WE'RE LOOKING AT THE EXPENDITURES AND THOSE, UM, PROJECT FUND BALANCES AS OUR DETERMINING FACTOR IN WHAT, WHEN YOU MAKE UP THE EXACTLY.

YEAH.

DOES ANYBODY ELSE HAVE ANY QUESTIONS ABOUT THAT PROCESS? 'CAUSE IT'S CLEARLY NOT SOMETHING THAT THE AVERAGE CITIZEN WOULD NEED TO BE FAMILIAR WITH.

I THINK THE PART THAT IS, THE INTERESTING PART FOR EVERYONE WOULD BE FAMILIAR WITH IS THE ACTUAL PLAN.

SO, UM, LOOKING AT THE CIP PLAN, SEEING WHAT'S THERE, SEEING WHAT'S PLANNED FOR REALLY THE CURRENT FISCAL YEAR AND THEN THE OUT YEARS, UM, THIS SLIDE IS SHOWING THE FISCAL YEAR 24, UM, SPENDING PLAN VERSUS WHAT WE'VE SPENT BY THE END OF APRIL.

SO YOU COULD SEE BETWEEN THESE, UH, FEW BOND PROGRAMS, WE'D EXPECT TO SPEND 403 MILLION.

UM, WE'RE AT ABOUT 165 MILLION TO DATE, SO 41%.

UM, YOU KNOW, PROJECTS ARE NON-LINEAR.

UM, CONSTRUCTION HAPPENS AT A CERTAIN TIME.

IT DOESN'T REALLY ALIGN WITH THE FISCAL YEAR NECESSARILY, BUT, UM, AT 60 ISH PERCENT OF THE WAY THROUGH THE YEAR, UM, WE MAY SEE OURSELVES AS BEING A LITTLE BIT BEHIND.

YOU'D REALLY HAVE TO DIVE IN AND LOOK AT SPECIFIC PROJECTS AND WHAT WERE LIKE THE LARGE THINGS HAPPENING HERE OR NOT HAPPENING HERE TO HAVE A SENSE OF, UM, THE PRO THE PROGRAM'S PROGRESS.

UM, BUT I THINK BECAUSE LIKE WE JUST HAD THE DISCUSSION ABOUT THE, THE POWER OVER THE, UM, BOND SALE IS RELATIVELY LIMITED.

I THINK IT'S, UM, REALLY IN PAYING ATTENTION TO THE CIP PLAN AND THE ACTUAL THINGS GOING INTO THE GROUND IS, UM, WHERE THE OVERSIGHT REALLY IS HAPPENING WOULD BE HAPPENING.

SAY THAT AGAIN? I MEAN, IN, IN TERMS OF THE CIP PLAN, UHHUH, , UM, ENSURING THAT IT'S PROJECTS THAT MET THE EXPECTATIONS OF THE VOTERS, THAT THEY'RE HAPPENING AT A PACE THAT WE'D EXPECT AND IT'S ACCEPTABLE BASED ON THE CONTRACT WITH THE VOTERS, UM, AND MAKING SURE WE'RE MEETING THOSE EXPECTATIONS.

YEAH.

THE, THE, THE THING THAT CAUGHT MY ATTENTION AND, AND, AND I, I'M NOT TRYING TO TRIP YOU UP ON INDIVIDUAL WORDS, BUT IT SAID GOING INTO THE GROUND, UM, WHICH IS THE CONSTRUCTION PART OF IT.

UM, BUT THERE'S A WHOLE LOT OF PROCESS THAT GOES, UH, IN BETWEEN AUTHORIZATION AND GETTING TO A BOARD OF A CONSTRUCTION CONTRACT.

UH, WHICH IS, UM, I THINK IN MY OPINION, WHEN YOU LOOK AT THE STEPS IN THE BOND PROCESS, UH, ONE OF THE THINGS THAT I THINK WE SHOULD CONSIDER IS WHICH OF THESE STEPS, UH, THE CITY, THE CITY STAFF HAVE, UH, I WON'T SAY CONTROL OVER, BUT A LOT OF INFLUENCE OVER, ONCE IT GOES TO A CONSTRUCTION CONTRACT, YES, IT HAS TO BE MONITORED, BUT THEN YOU GET INTO ELEMENTS OF CONSTRUCTION ELEMENTS THAT SEA STAFF MAY OR MAY NOT HAVE MUCH INFLUENCE OVER.

SO IN TERMS OF KEEPING A PROJECT ON SCHEDULE, I MEAN, YOU KNOW, IF YOU'VE GOT A, IF YOU'VE GOT A, A ROAD PROJECT OR ANY KIND OF PROJECT AND IN CONSTRUCTION YOU RUN INTO AN UNFORESEEN CIRCUMSTANCE, THERE'S YOU, IT'S AN UNFORESEEN CIRCUMSTANCE AND IT'S GONNA DELAY THE PROJECT.

UH, BUT THERE'S A LOT OF ADMINISTRATIVE STUFF THAT HAPPENS BEFORE CONTRACT AWARD, AND THAT IS THE PART WHERE, UM, WE REALLY HAVE MORE INFLUENCE OVER THAN THE COURSE

[00:40:01]

OF CONSTRUCTION.

ANY OTHER QUESTIONS? I, UM, CAN Y'ALL HEAR ME OKAY? YES, SIR.

OKAY.

YEAH.

I, UH, COMMISSIONER WITH WHAT YOU WERE SAYING AND WITH WHAT THE PRESENTERS WERE SAYING, UM, FROM THE GET GO, THERE WAS SOMETHING ABOUT THAT IN 20 FOR THE 2018 BOND THAT THE, UM, PROCESS FOR PROJECT MANAGEMENT WAS CHANGED.

THERE WERE SOME NEW MAYBE A, B AND C TYPE OPTIONS THAT WERE TESTED OUT, UM, TO KINDA STREAMLINE THAT, THAT PROCESS FOR DELIVERING ON, UM, TIMELINESS FOR THAT ISSUANCE AND FOR PROJECTS.

IT KIND OF DOVETAILS INTO WHAT YOU WERE JUST SAYING, COMMISSIONER, ABOUT YEAH, WE MIGHT HAVE THE ABILITY TO INFLUENCE THAT PROCESS, THAT CONSTRUCTION PROCESS OR THE LEAD UP TO THAT, UM, MORE IS THERE WORK GOING ON WITH THAT AT THE CITY WHERE THERE LIKE, UM, E UM, LIKE KPIS OR ANYTHING LIKE THAT WITH THE 2018 ISSUANCE THAT THE CITY WAS TRACKING, THAT Y'ALL CAN GO BACK NOW AND SAY, HEY, YOU KNOW WHAT, DOING OPTION B, CHANGE C, OR WHATEVER ACTUALLY DID HELP TO, TO STREAMLINE SOME OF OUR PROJECTS? I'D HAVE TO, I I, I DON'T THINK I COULD ANSWER THAT AT A GLOBAL LEVEL.

UM, I, I MEAN, I'M TRYING TO THINK OF THIS, UM, LET ME MAYBE REPHRASE MY QUESTION.

'CAUSE I WAS MUCH OF IT WAS RAMBLING TRYING TO SET UP THE, THE ACTUAL QUESTION, BUT THE ACTUAL QUESTION IS THE CITY, OR IS THIS DEPARTMENT, THE, THE, UM, YOU KNOW, ROLLING OUT WITH, UH, UM, PROJECTS, IS THERE AB TESTING THAT GOES ON WHERE YOU LOOK AT WHAT YOU'RE DOING CURRENTLY? AND THEN IT SOUNDS LIKE IN 2018 THERE WAS A B ALTERNATIVE THAT WAS BEING TESTED.

IS THERE THAT FEEDBACK THAT GOES INTO STREAMLINING THE IMPLEMENTATION PROCESS? BECAUSE IT DOES LOOK LIKE THE 2018 BOND IS BEING, UM, UM, SPENT AT A GREATER RAPIDITY THAN THE, UH, 2016 BOND, WHICH IS THE ONE THAT WAS IN THE NEWS RECENTLY.

UM, I WOULD PROBABLY, UM, NOT TO PUT STEVE AND GRACE ON THE SPOT HERE AGAIN, UM, I WOULD PROBABLY DEFER TO OUR, UH, CAPITAL DELIVERY SERVICE PARTNER HERE TO MAYBE DISCUSS, UH, I, I DON'T HAVE ANY SPECIFICS.

I, I DON'T KNOW WHAT OCCURRED IN 2018, UNFORTUNATELY.

SO I, I CAN'T COMPARE THAT TO WHAT WE'RE PLANNING TO DO NOW.

BUT I THINK THAT, UH, THERE ARE, UM, THERE'S, THERE'S PROGRESS IN PLACE REGARDING LIKE, CHANGES AND, AND WAYS THAT YOU'RE GONNA BE IMPLEMENTING THE NEXT BOND PROGRAM.

I, I'M, I'M GATHERING THAT FROM YOUR QUESTION.

IS THAT RIGHT COMMISSIONER? LIKE YEAH.

HOW WE'RE LOOKING INTO THE FUTURE TO IMPROVE ON THE PROCESS OVERALL FOR THE NEXT BOND ELECTION? CORRECT.

AND WHAT PIQUED MY INTEREST WAS HEARING ABOUT IN 2018, UH, EARLY ON THE PRESENTATION SAID THAT THERE WAS SOME THINGS THAT WERE TRIED OUT DIFFERENTLY, LIKE HAVING THIRD PARTY PROJECT MANAGERS OR OTHER THINGS LIKE THAT, THAT IT JUST SEEMED, WHEN I LOOKED AT THAT CHART THAT WAS PRESENTED, AND OF COURSE HAVING HAD THAT 2016 BOND ISSUANCE, THE TRANSPORTATION, UH, ONE IN THE NEWS HERE RECENTLY, YOU KNOW, 2016, I'M JUST GOING FROM MEMORY HERE BECAUSE IT'S NOT ON THE SCREEN ANYMORE, BUT IT WAS LIKE IN THE LOW FORTIES OF SPENT IN THE 2018 WAS IN THE HIGH FORTIES OF SPENT.

SO THERE'S A, MAYBE THERE WAS SOMETHING THAT WAS GOING ON THERE.

MAYBE IT'S SOMETHING THAT WE CAN BUILD UPON MOVING FORWARD TO, TO REALLY GET THAT MONEY SPENT SO THERE'S NOT, YOU KNOW, NEGATIVE, NEGATIVE HEADLINES OUT THERE.

MM-HMM.

.

YEAH.

AND THAT, THAT GOES BACK TO WHAT WE'RE GONNA FOCUS ON GOING FORWARD FOR BOND DEVELOPMENT AS A CITY.

SO HAVING A LOT OF THAT PRELIMINARY PLANNING DONE BEFORE ANY PROJECT IS RECOMMENDED TO GO TO BOND, TO INCLUDE THE, UM, DELIVERY TYPE, WHAT TYPE OF, UM, CONTRACT IT'S GONNA BE, WHETHER IT'S A, YOU KNOW, INVITATION FOR BID CMAR, SOME DIFFERENT DELIVERY AL ALTERNATIVE THAT, THAT MAY HAVE HAPPENED WITH THE 2018, UM, THAT YOU MENTIONED, BUT YES, UH, OKAY.

UH, MORE ROBUST UPFRONT PLANNING TO NOT ONLY IDENTIFY THE COST, THE SCHEDULE, UM, AND, AND THE, A CLEAR SCOPE THAT ALIGNS WITH WHAT'S FEEDBACK YOU'RE GETTING FROM THE COMMUNITY, BUT ALSO THINGS LIKE DELIVERY METHOD AND ANYTHING THAT'S NON-STANDARD, UM, IDENTIFIED BEFOREHAND RATHER THAN AFTER THE BONDS AWARDED.

OKAY.

ALRIGHT.

AND THEN IT SOUNDS LIKE THERE WAS A, A PANEL DISCUSSION YESTERDAY OR EARLIER THIS WEEK THAT WAS KIND OF THE, THE PRE-IMPLEMENTATION PHASE OF EVEN BEFORE WE GO TO, UH,

[00:45:03]

ADVISING THAT THERE SHOULD BE A BOND, UH, ELECTION COME UP, SO THAT IT SOUNDS LIKE THERE'S GOOD PROGRESS THERE FOR GETTING THESE THINGS MORE STREAMLINED.

SO IT'S HEARTENING.

THANKS.

YOU'RE WELCOME.

THERE WAS, UM, ONE OTHER CHART, UM, THAT I DON'T THINK WE HAVE FROM THE CAPITAL, FROM THE, UM, FINANCIAL FORECAST THAT TALKS ABOUT THE, UM, WHAT THE CITY IS LOOKING AT FOR A CIP INTO THE FUTURE.

UM, WHICH AS I REMEMBER THE CHART, UM, SAID THAT, UM, IN THE, IN THE NEXT FEW YEARS, OUR CAPITAL SPENDING IS GONNA BE, UH, DOUBLE WHAT IT HAS BEEN IN THE LAST FEW YEARS.

AND I REALIZE I'M BEING VERY GENERAL IN THOSE STATEMENTS, , BUT IF WE'VE HAD, IF WE'VE HAD SOME ISSUES IN, UH, STAYING ON TIME WITH THE CAPITAL, UH, SPENDING THAT WE'VE BEEN DOING, WE'RE ABOUT TO TAKE ON TWICE AS MUCH AS WHAT WE HAVE BEEN DOING.

SO, UM, AT WHAT POINT ARE WE GONNA THEN TALK ABOUT HOW WE ARE PLANNING TO HANDLE THAT? I THINK IT'S, AGAIN, WE'RE, WE'RE PICKING ON STEPHEN, THE, THE OTHER STEPHEN.

WELL, I, I THINK IT'S A PROCESS AND MOVING FORWARD AS WE HAVE A LITTLE BIT OF TIME NOW TO DEVELOP WHAT OUR APPROACH IS GONNA BE AND TO GET THAT FEEDBACK ON WHAT POTENTIAL AMOUNT WE MAY BE LOOKING AT FOR A BOND, AND TO START FLUSHING OUT WHAT THAT'S GONNA LOOK LIKE, I THINK THAT'LL DRIVE A LOT OF THOSE DECISIONS ON RESOURCE REQUIREMENTS AND, AND WHAT YOU'RE, YOU'RE GETTING AT.

SO RIGHT NOW, WE HAVEN'T REALLY MADE ANY FIRM DECISIONS ON WHAT, WHAT IT WILL TAKE TO GET THAT THROUGH, BECAUSE WE DON'T KNOW THE FRAMEWORK YET OF WHAT IT'S PROBABLY GONNA LOOK LIKE.

ARE, UM, ARE YOU PLANNING TO ADDRESS THAT IN THE 2025 BUDGET PROCESS IN TERMS OF THE RESOURCES REQUIRED? UM, YEAH, I MEAN WE'RE, WE'RE IN THE BUDGET REVIEW PROCESS NOW, SO, UM, THERE IS A OPERATING BUDGET ASKED FROM THE CAPITAL DELIVERY SERVICES CON, UH, DEPARTMENT THAT'S IN CONSIDERATION BY THE CITY MANAGER'S OFFICE FOR AUGMENTATION OF THEIR STAFF AND OUTSIDE CONTRACTS.

WELL, THE, UM, AT WHAT POINT IN TIME, UM, IS STAFF PLANNING TO SHARE THAT WITH THE BOND OVERSIGHT COMMISSION? IMAGINE WITH THE PROPOSED BUDGET IN A COUPLE MONTHS, I'M SORRY, IN WITH THE PROPOSED BUDGET WHEN THAT COMES OUT IN A COUPLE MONTHS, MID-JULY.

JULY, SO THAT SHOULD BE ON THE JULY AGENDA, IS THAT CORRECT, NICOLE? WE HAVE THE FORECAST, UM, WORK SESSIONS FOR THE REST OF THE YEAR PLANNED OUT, AND I BELIEVE THAT'S JULY BECAUSE WE DON'T HAVE A GREAT JUNE SESSION.

THAT'S ANOTHER POINT OF DISCUSSION YES, SIR.

THAT WE'RE YET TO GET TO.

IT'S JUST TRYING TO, YOU KNOW, PUT ALL OF THE PIECES TOGETHER AND SEE WHERE THIS, WHERE THIS COMMISSION IS GONNA BE LOOKING AT PRESENTATIONS AND WHEN DECISIONS WOULD NEED TO BE MADE.

I THINK WE ALSO MENTIONED THAT, THAT THAT'LL ALSO HAVE THE NEW CAPITAL IMPROVEMENT PROGRAM PLAN FOR THE NEXT FIVE YEAR CYCLE, THE 20, UM, I MEAN, THERE WON'T BE ANY PUBLIC IMPROVEMENT BOND APPROPRIATIONS IN THIS BUDGET.

IT'S ALL APPROPRIATED, BUT WE'LL HAVE A NO PLAN TO LOOK AT ROLLING FIVE YEAR WINDOW THAT WE COULD ALSO SHOW AT THAT POINT.

YEAH, AND, AND, UH, YOU KNOW, TO FOLLOW UP ON THAT, THE, THE, THE MAJORITY, THE VAST MAJORITY OF THE INCREASE IN SPENDING IS NOT, UH, GO BONDS.

IT'S THE ENTERPRISE FUNDS, AVIATION AND CONVENTION CENTER PROJECTS.

BUT IT IS STILL, UH, THE ADMINISTRATIVE PART OF HANDLING THAT PROGRAM, YOU KNOW, IT STILL HAS TO BE DONE AND AFFECTS, UH, THE WHOLE CAPITAL PROGRAM.

ANY OTHER QUESTIONS FROM ANYONE? ANY OF THE COMMISSION? GREAT, THANK YOU.

THERE WAS ONE ADDITIONAL THING.

UH, COMMISSIONER LUCA, YOU HAD ASKED FOR A LIST OF PREVIOUS

[00:50:01]

BOND SALES Y YES, AND I SPOKE TO, UM, UH, BELINDA.

YES.

AND, UH, I WAS HOPING THAT THERE WAS SOMETHING ALREADY ON, ON LINE SOMEWHERE THAT I COULD, UH, LOOK AT.

BUT, UH, IF NOT, YOU KNOW, ADD STAFF'S CONVENIENCE, I WAS JUST CURIOUS ABOUT WHAT, UM, THE COST OF THESE, UH, THE, THE RATE OF MONEY, I GUESS, UH, WAS OVER ALL OF THESE BOND ISSUES.

IS THERE A SPECIFIC TIMEFRAME THAT YOU WERE LOOKING FOR, OR, AND WHEN YOU SAY SPECIFIC COST, UM, ARE YOU TALKING ABOUT THE INTEREST COST? ARE YOU TALKING THAT, THAT'S WHAT I'M INFERRING FROM YOUR QUESTION.

RIGHT, RIGHT.

MAINLY INTEREST RATES, BECAUSE I MEAN, WE'RE LOOKING AT PROJECTS AS FAR BACK AS, AS 2016 MM-HMM.

, OF COURSE, THE, UM, THE COST OF MONEY I THINK HAS CHANGED A LITTLE BIT SINCE THEN.

Y CORRECT.

UM, I CAN DEFINITELY GET YOU THE INTEREST COST ON THE ISSUANCES, UM, SINCE 2016, IF THAT'S, UM, SOMETHING YOU WOULD LIKE.

SOME THINGS TO KIND OF KEEP IN MIND WHEN LOOKING AT THE COST.

UM, IT GOES BACK TO WHAT I MENTIONED A MOMENT AGO WHEN WE'RE, YOU KNOW, WE'RE REALLY LOOKING AT THE EXPENSES AT THE DOOR BECAUSE WE'RE NOT WANTING TO ISSUE, UM, A LARGE SUM OF MONEY AND JUST HAVE IT SITTING THERE, UM, NOT BEING SPENT BECAUSE THERE'S AN INTEREST COST TO THAT.

UM, THERE'S ALSO SPEND REQUIREMENTS PER THE IRS TO KEEP OUR TAX EXEMPT STATUS OF THE BONDS, AND THAT'S AT AN 85% SPEND, UM, AT THE THREE YEAR MARK.

SO THERE'S, THERE'S MULTIPLE CONSIDERATIONS TO TAKE INTO ACCOUNT, UM, BUT I CAN DEFINITELY GET YOU THAT INTEREST COST.

SURE.

THANK YOU.

THANK YOU.

YEAH, JUST WANTED TO MAKE SURE THAT QUESTION SURE.

GOT TIED UP.

IF THERE ARE

[3. Discussion on the Capital Improvement project benchmarks]

NO OTHER QUESTIONS, THEN WE WILL MOVE ON THEN TO THE DISCUSSION ON THE CAPITAL IMPROVEMENT PROJECT BENCHMARKS.

ALL RIGHT.

ALL RIGHT.

GOOD AFTERNOON COMMISSION, UM, TWO QUICK UPDATES FOR YOU, UM, FOLLOWING THAT DISCUSSION.

THE FIRST ONE IS LOOKING AT BENCHMARKS.

AND THIS IS A FOLLOW UP TO LAST MONTH'S CONVERSATION AS TO WHAT ARE THOSE, UM, UH, WE USED INTERCHANGEABLY THE TERMS BENCHMARK OR MILESTONES, BUT ESSENTIALLY THE, THE STEPS THAT A CAPITAL PROJECT IS PROGRESSING, THAT PUBLIC IMPROVEMENT BOND FUNDED PROJECT IS PROGRESSING THROUGH AS IT'S EXECUTED.

UM, SPECIFICALLY I'M GONNA ADDRESS THE PORTION OF TIME THAT IT'S COMING ACROSS CAPITAL DELIVERY SERVICES.

UM, I, I THINK OUR FOLLOW UP DISCUSSION IS GONNA BE A, A LONGER TERM, OR, YOU KNOW, THE BROADER HORIZON WHERE, UM, CHARLES HAS LAID OUT THE STEPS, UM, YOU KNOW, CERTAINLY FROM THE TIME OR REQUIREMENTS IDENTIFIED AND THE PROCESSES IT HAS TO WORK THROUGH FROM A, A BOND FUNDING AND ALLOCATION STANDPOINT ARE A SEPARATE SET OF MILESTONES.

UM, I'M GONNA DRILL IN ON THE MILESTONES THAT A CAPITAL PROJECT GOES THROUGH IN TERMS OF, UH, DELIVERING A PHYSICAL PROJECT.

AND I, WE HAD SOME DISCUSSION ON HOW CAN WE, WHAT TOOLS DO WE HAVE RIGHT NOW THAT WE CAN TRACK PROJECTS AS THEY WORK THEIR WAY THROUGH THOSE DIFFERENT STEPS? AND ULTIMATELY, HOW, HOW CAN WE REPORT ON THAT? AND PREFERABLY EARLIER IS BETTER.

HOW DO, HOW DO WE GET SOME LEADING INDICATORS WHEN A PROJECT MAY BE BEHIND? AND IS THERE ANY WAY TO AGGREGATE THAT, UM, UP TO, TO AN ENTIRE BOND ISSUE OR PROGRAM? SO LET ME, LET ME SHOW YOU A LITTLE BIT ABOUT, OR A LITTLE BIT OR EXPLAIN THE TOOLS THAT WE WERE CURRENTLY USING IN CAPITAL DELIVERY SERVICES.

SO, UH, I'VE MENTIONED IT BEFORE, THE SOFTWARE PLATFORM THAT OUR PROJECT MANAGERS USE AND IS USED BY FINANCE AND THROUGHOUT THE CITY IS, UM, E CAPRI.

THAT'S A SOFTWARE PLATFORM DEVELOPED FOR CITY OF AUSTIN.

UM, PROJECT REPORTING AND INFORMATION SYSTEM, I THINK IS THE ACRONYM.

AND FIRST AND FOREMOST, IT'S A, A FINANCIAL TOOL.

UM, THAT'S HOW IT WAS ORIGINALLY ENVISIONED.

IT CERTAINLY HAS THE CAPABILITY TO ALLOW OUR PROJECT MANAGERS TO, UH, TO MANAGE PROJECTS, BUT IT DOESN'T HAVE A FULL SUITE

[00:55:01]

OF CAPABILITIES LIKE SOME OTHER PROJECT MANAGEMENT SPECIFIC SYSTEMS HAVE.

SO THE SCHEDULING, THE, UM, THE COST ELEMENTS ARE, ARE A LITTLE BIT RUDIMENTARY, AND WE ARE ALREADY ADDRESSING THAT AS A DEPARTMENT.

WE HAVE, UM, AWARDED A, UH, NEW SOFTWARE SYSTEM, UM, UH, WE CALL IT P-M-I-S-A, PROJECT MANAGEMENT INFORMATION SYSTEM THAT'S GOING TO, UH, WE'RE GONNA IMPLEMENT OVER THE NEXT YEAR, YEAR PLUS.

IT WILL INTEGRATE THE INFORMATION THAT'S IN E CAPRI ALONG WITH, UH, GIS OR OTHER FINANCIAL, UH, INFORMATION SYSTEMS ALTOGETHER.

SO IT'S GONNA GIVE OUR PROJECT MANAGERS A LITTLE BIT MORE, UM, ROBUST REPORTING CAPABILITY.

AND I THINK AFTER I SHOW YOU WHAT WE CAN DO NOW, YOU'LL APPRECIATE HOW THAT WILL HELP, UM, GOING FORWARD.

SO RIGHT NOW, THE, THE SORT OF BASIC SCHEDULING CAPACITY OR CAPABILITY WE HAVE WITHIN E CAPRI IS SOMETHING LIKE YOU SEE HERE, THE FIVE PHASES THAT WE TRACK A CAPITAL PROJECT THROUGH ARE, ARE GIVEN HERE, UH, PRELIMINARY OR THE PLANNING PHASE, THEN DESIGN, UM, THEN WE HAVE THE AWARD OR THE BID, THE AWARD, UM, AS IT TRANSITIONS FROM DESIGN TO, UM, EXECUTABLE CONSTRUCTION CONTRACT, THEN THE CONSTRUCTION PHASE, AND FINALLY A POST CONSTRUCTION, WHICH WOULD INCLUDE, UM, PROJECT TURNOVER, COMMISSIONING, UM, WARRANTY ACTIVITIES, THAT TYPE OF THING.

AND THEN ULTIMATELY THE, THE PROJECT IS MAINTAINED AND USED BY THE DEPARTMENT OR THE ASSET OWNER.

SO THIS IS A, A SNAPSHOT OF A CURRENT MOBILITY PROJECT RIGHT NOW.

UM, SPICEWOOD SPRINGS, UM, ROAD, UM, RECONSTRUCTION.

IT'S IN CONSTRUCTION NOW.

SO YOU CAN SEE OVER THE NEXT THREE YEARS, UM, THROUGH FY 27, THE, THE PLANNED CONSTRUCTION DATES.

AND THEN FOLLOWING THAT, THE TRANSITION INTO POST-CONSTRUCTION AND THE, THE BUDGET LINES THAT SUPPORT IT.

UM, I'M GONNA SKIP AHEAD AND THEN I'LL POP BACK TO THE SLIDE, BUT THE, THE PROJECT MANAGER HAS AN OPPORTUNITY IN THE SYSTEM TO SORT OF LAY OUT THE, THE ENTIRE SCHEDULE.

SO EVEN THOUGH YOU'RE ONLY ZOOMING IN ON WHERE WE ARE RIGHT NOW, THE, IN THE CONSTRUCTION PHASE, THE, A SAME, A SIMILAR SCHEDULE IS CREATED FOR THAT PLANNING OR PRELIMINARY FOR THE DESIGN.

UM, THE BID, THE CONSTRUCTION AND THE POST CONSTRUCTION, AND YOU CAN SEE THOSE, UM, I'M SORRY FOR THE, THE SIZE OF THE FONT, BUT YOU CAN SORT OF SEE WHERE THOSE, UM, LARGE TASKS SIT ON IN THOSE HORIZONTAL BARS, UH, ACROSS THE, THE LIFE CYCLE OF THIS PROJECT.

SO THERE IS A CAPABILITY OF LAYING OUT A SCHEDULE, UM, THAT ADDRESSES THOSE FIVE MILESTONES AND ALLOWS US TO TRACK TOWARD WHEN WE'RE GONNA ACHIEVE THOSE DIFFERENT BENCHMARKS FOR PROJECT EXECUTION.

THE, THE ONE THING THAT WE DON'T HAVE THAT WE ARE GOING TO IMPROVE WITH THE NEW SYSTEM I MENTIONED IS A COMPARISON TO A, A BASELINE.

SO I'LL EXPLAIN OR UNPACK THAT A LITTLE BIT.

OUR CURRENT ECO IN E CAPRI, BECAUSE IT IS A FINANCIAL SYSTEM, OUR GOAL IS TO MAKE SURE WE'RE TRACKING CURRENT STATUS SO WE KNOW HOW MUCH WE'VE COMPLETED, UM, HOW MUCH WE NEED TO SPEND, ARE WE RUNNING OUT OF FUNDS, WE NEED THE NEXT ALLOTMENT OF DOLLARS, WHAT ARE THE TRUE, UM, DATES OR DEADLINES THAT WE'RE MANAGING TOWARD? SO WHAT'LL HAPPEN IN OUR CURRENT SYSTEM IS IF A PROJECT MANAGER NEEDS TO, UM, MAKE A CHANGE TO THE SCHEDULE, THEY'LL GO IN AND ADJUST THOSE DATES BASED ON THE REALITY OF THE PROJECT.

AND THAT'S IMPORTANT.

WE DO NEED TO HAVE THAT IN ORDER TO CLOSE THE PROJECT OUT TO REFLECT THE, THE ACTUAL SPEND, BUT THEN WE LOSE THE CAPACITY OF COMPARING HOW WE'RE DOING AGAINST THE BASELINE.

AND I THINK, YOU KNOW, COMMISSIONER CURRY'S MENTIONED THAT, YOU KNOW, IF YOU, WE WILL ALWAYS BE RIGHT ON BUDGET AND TARGET ON, YOU KNOW, ON SCHEDULE AND EVERYTHING, IF WE MAKE THOSE ADJUSTMENTS AND WE COMPLETE THE PROJECT.

SO WHAT OUR, WHAT OUR NEW CAPABILITY WILL DO IS ALLOW US TO REPORT DIRECTLY FROM THAT SYSTEM AND COMPARE, IT'LL ALLOW US TO MAKE THE CHANGES WE NEED TO MAKE, BUT IT WILL ALSO ALLOW US TO, UM, MAKE COMPARISONS TO THE ORIGINAL BASELINE IN THOSE THINGS.

THE, UM, THE BUDGET, IF THERE'S ANY CHANGES, THE SCOPE, AND WHEN THE PROJECT WORKS THROUGH THOSE DIFFERENT PHASES.

AND THAT'S GONNA BE A MUCH MORE, UM, USEFUL TOOL, A PREDICTIVE TOOL.

IF A PROJECT IS SUPPOSED TO BE THROUGH THE PRELIMINARY PHASE AT A CERTAIN TIME AND IT'S FALLING BEHIND AT, AT THAT STAGE, WE, WE'D LIKE TO KNOW IT THEN.

UM, AND THAT WILL ALSO ALLOW US TO DO A LITTLE BIT MORE OF A ROLL UP.

UM, AS YOU CAN SEE HERE, THERE'S, WE'D ALMOST NEED TO WORK STEP PROJECT BY PROJECT TO GIVE YOU AN UPDATE

[01:00:01]

ON WHERE OUR INDIVIDUAL PROJECTS STAND IN TERMS OF ARE THEY MEETING SCHEDULE, ARE THEY MEETING BUDGET? IT'S, IT'S EASIER TO ROLL UP IN TERMS OF EXPLAINING WHERE WE STAND WITH BUDGET.

LIKE THE, THE SLIDE YOU SAW WHEN OUR FINANCIAL TEAM WAS, UM, PRESENTING ON THE 2018 BOND PROGRESS.

YOU CAN AGGREGATE HOW ALL OUR DOLLARS ARE BEING SPENT, BUT WHEN YOU TALK ABOUT SCHEDULE, IT'S DIFFICULT TO AGGREGATE INDIVIDUAL PROJECT SCHEDULES.

SO WE REALLY NEED TO, UM, FIGURE OUT, THAT'S SOMETHING MY TEAM'S WORKING THROUGH A WAY TO ANNOTATE OUR SPECIFIC PROJECTS ON TRACK.

ARE THEY MEETING THE ORIGINALLY PLANNED BASELINE OF THEIR, OF THEIR SCHEDULE? IF THEY ARE, THEY'RE GREEN.

IF THEY'RE NOT, THEY, MAYBE THEY'RE AMBER.

IF THERE'S A WAY TO FIX IT, YOU KNOW, RED, WHATEVER KIND OF CONVENTION WE USE.

AND THOSE ARE THE METRICS WE'LL BE ABLE TO ROLL UP, YOU KNOW, BY PROGRAM, BY, UM, BOND ISSUE AND THAT TYPE OF THING.

HOW MANY ARE IN THE GREEN, HOW MANY ARE IN THE YELLOW? AND THEN WE CAN DRILL DOWN TO LOOK WHERE WE MAY BE HAVING ISSUES.

SO THAT IS A QUESTION.

YES, SIR.

I DIDN'T QUITE UNDERSTAND.

IS THIS GONNA BE A NEW SYSTEM OR A NEW CAPABILITY IN E CAPRI? IT WILL BE A NEW SYSTEM THAT INTEGRATES E CAPRI WITH SOME OF THE OTHER CITY SYSTEMS. SO WITH OUR FINANCIAL SYSTEM, WITH OUR, UM, GIS SYSTEM, UH, AS AN IMPORTANT PIECE.

SO IT WILL, IT WILL NOT REPLACE IT, IT WILL JUST PULL THE INFORMATION OUT OF IT AND BRING, BRING TO THE TABLE SOME REPORTING CAPABILITY THAT RIGHT NOW WE CAN'T DO, WE NEED TO RELY ON THIRD PARTY SOFTWARE AND MICROSTRATEGY POWER BI REPORTING TOOLS LIKE THAT TO, TO GET AT THE INFORMATION WE NEED GOING FORWARD.

OUR NEW PMIS WILL ALLOW US TO DO THAT, UH, AT, YOU KNOW, SORT OF A ONE STOP OR ONE SCREEN APPROACH.

AND WHAT'S THE TIMELINE OF BEING ABLE TO DO THAT? WE AWARDED THE CONTRACT TO PM WEB.

UM, THEY'RE THE VENDOR OF THE PROVIDER.

UM, THEY'RE A NATIONAL, NATIONALLY KNOWN PROJECT MANAGEMENT SOFTWARE, UH, PROVIDER.

SO THAT WAS, UH, A LITTLE OVER ABOUT SIX WEEKS AGO.

SO WE'RE, WE ARE PROBABLY GONNA BE IN A IMPLEMENTATION PERIOD THAT I, I WOULD GUESS WOULD LAST FOR AT LEAST THE NEXT YEAR, PROBABLY 12 TO 18 MONTHS WHERE WE TAKE, WE'LL CALL IT OUT OF THE BOX CAPABILITY.

SO WE WILL OPEN UP THEIR NEW SOFTWARE, WE'LL SEE WHAT IT CAN DO WITHOUT ANY, UM, CUSTOMIZATION, HOW IT INTEGRATES WITH WHAT WE ALREADY HAVE.

AND THEN THEIR SOFTWARE ENGINEERS WILL WORK WITH OUR PROJECT MANAGERS, OUR PROJECT CONTROLLERS, TO REFINE IT, TO, TO LOAD A, YOU KNOW, SMALL SAMPLE CASE OF PROJECTS THROUGH, MAKE SURE EVERYTHING'S WORKING AS NEEDED, AND THEN START TO EXPAND THAT DATABASE.

SO, UM, WE'RE HOPING, YOU KNOW, WE'LL CERTAINLY SEE PROGRESS BEFORE THAT.

WE'LL, WE'LL START TO HAVE THAT CAPABILITY HERE IN THE NEXT FEW MONTHS, BUT IT WILL, IT WILL BECOME MORE ROBUST BY NEXT YEAR, NEXT FALL.

SO, UM, WHAT I THINK I UNDERSTOOD FROM WHAT YOU SAID , BUT I WANT TO CHECK SURE.

IS, UM, I MEAN BASICALLY WHAT I THINK I UNDERSTOOD WAS RIGHT NOW WE CANNOT REPORT IN TERMS OF WHERE PROJECT IS IN TERMS OF ITS ORIGINAL BENCHMARKS.

WE WOULD HAVE TO CREATE A REPORT, UM, SPECIFICALLY FOR THAT PROJECT TO PULL THAT DATA OUT FROM HISTORICAL RECORDS.

WE HAVE TO GO BACK AND SAY IN TIME IN 2016, HERE'S THE SCHEDULE THAT WAS LAID OUT.

OUR CURRENT SNAPSHOT, THE, THE PLATFORM THAT OUR PROJECT MANAGERS ARE USING IN E PRE DOESN'T REFLECT THAT IN THE, IN A PRE-PACKAGED REPORT.

SO WE HAVE THE ABILITY MM-HMM, TO, TO GO BACK AND RESEARCH THAT, BUT THERE'S NO STANDING REPORT WITHOUT USING THOSE OTHER TOOLS, THE MICROSTRATEGY, THE THIRD PARTY REPORTING TOOLS TO, TO ALLOW US TO DO THAT EASILY.

UM, AND THAT'S, THAT'S THE CAPABILITY THAT WE'RE GONNA BRING IN WITH THIS NEW SYSTEM.

SO JUST, YOU KNOW, AGAIN, TRY TO TRANSLATE INTO COMMON SPEAK .

SURE.

WHAT THAT MEANS IS, RIGHT NOW, IN TERMS OF, UH, WHAT WE SAID WHEN THE BOND WAS PASSED, THAT THIS WOULD BE DONE BY THIS TIME AND THIS WOULD BE DONE BY THIS TIME.

WE CAN'T REPORT ON HOW WE'RE DOING ON THAT.

WE WOULD HAVE TO, WE'D HAVE TO BUILD A SPECIAL TAILORED REPORTS.

WE CAN COLLECT THAT INFORMATION, BUT IT'S NOT IN REAL TIME.

IT'S CERTAINLY NOT AVAILABLE ON A DASHBOARD, FOR EXAMPLE, IN A, IN A USEFUL FORMAT LIKE THAT, IS, IS THERE ANY PLAN OF TRYING WHAT'S THE PLAN? ARE WE GONNA TRY TO DO THAT OR ARE WE GOING TO, UH, SAY WE'LL HAVE THAT AT SOME POINT IN THE FUTURE? OH, WE, WE DO PLAN TO,

[01:05:01]

TO INTRODUCE THAT AS PART OF OUR IMPLEMENTATION OF THE NEW PMIS SYSTEM.

NO, WE'RE GONNA DEFINE THE REPORTS THAT WE WANT TO BE ABLE TO PRODUCE THE, UNTIL WE GET THE NEW SYSTEM IN PLACE, ARE WE GONNA TRY TO PRODUCE A