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WILL NOW TAKE US TO THE WORK SESSION, AND I WILL CALL TO ORDER THE WORK SESSION OF THE AUSTIN CITY COUNCIL FOR NOVEMBER 19TH, 2024 AT 1:53 PM THE WORK SESSION IS BEING CONDUCTED IN THE CITY COUNCIL CHAMBERS OF AUSTIN CITY HALL, LOCATED AT 3 0 1 WEST SECOND STREET IN AUSTIN, TEXAS.UM, THE FIRST ITEM ON THE AGENDA, AS I INDICATED, WILL BE ITEM B ONE, AND THAT IS RELATED TO THE CAPTAIN STITCH FUNDING STRATEGY.
FOLLOWING THAT, WE WILL GO TO THE WEBSITE REDESIGN ITEM B TWO, AND THEN AT THE APPROPRIATE TIME, I WILL, UH, ASK FOR US TO GO INTO EXECUTIVE SESSION.
[B1. Our Future 35: Cap and Stitch Funding Strategy.]
I'M GONNA TURN IT OVER TO YOU TO, TO SET UP ITEM B ONE.UH, AND STAFF IS HERE TO PRESENT, UH, OUR FUTURE 35, THE CAPTAIN STITCH FUNDING STRATEGY.
AND I'LL TURN IT OVER TO ASSISTANT CITY MANAGER, ROBERT GOODE.
SO I WANT TO, IF YOU GO TO THE FIRST SLIDE, I JUST WANNA WALK THROUGH THE AGENDA, LAY THE FOUNDATION FOR WHAT WE'RE GONNA TALK TO YOU TODAY ABOUT.
UM, WE'VE DONE A LOT OF WORK WITH THE COMMUNITY ON DEVELOPING A VISION PLAN FOR WHAT COULD GO ON TOP OF THE DECKS THAT WE COULD POTENTIALLY BUILD.
SO WE WANTED TO SHARE WITH YOU WHAT WE'VE RE WE THINK WE'VE REACHED A CONSENSUS WITH THE COMMUNITY ON WHAT THAT COULD LOOK LIKE.
WE'RE GONNA HIGHLIGHT A FEW, UH, THE VISION PLAN HIGHLIGHTS TODAY.
THAT ENTIRE PLAN IS IN YOUR BACKUP IF YOU WANNA DIG DEEPER ON WHAT THAT LOOKS LIKE.
SO WE'RE GONNA, WE'RE GONNA WORK ON THAT TODAY.
WE'RE ALSO GONNA WORK ON FUNDING AND PHASING.
YOU REMEMBER, THERE'S DIFFERENT, UH, TIMELINES FOR WHEN OUR, UH, FUNDING WOULD BE REQUIRED BY TXDOT IN THEIR PROJECT TIMELINE.
WE'RE ALSO GONNA TALK ABOUT SOME PRIORITIZATION SCENARIO OPTIONS, BECAUSE AS TDOT PROCEEDS WITH A PROJECT, THEY DO COST ESTIMATED AT DIFFERENT STAGES.
YOU, THE ESTIMATES THAT WE HAD PREVIOUSLY WERE JUST SCHEMATIC IN NATURE.
THEY'VE COMPLETED, NOT COMPLETED, THEY'VE PROGRESSED THEIR DESIGN TO ABOUT THE 30% LEVEL AND DONE ESTIMATES, AGAIN, TO TELL US WHAT THEY THINK THE COST WILL BE.
AS CAN BE EXPECTED, THOSE COSTS HAVE IN INCREASED QUITE DRAMATICALLY.
WE WANNA SHARE THOSE NEW ESTIMATES WITH YOU TODAY BASED ON THOSE COSTS BEING SO HIGH.
NOW, WE THINK IT WOULD BE WISE FOR US TO LOOK AT SCENARIOS AND PRIORITIZATIONS FOR THE CAP FROM THE FULL VISION PLAN THAT WE'VE BEEN TALKING ABOUT THUS FAR.
SO STAFF CAN, WILL WALK YOU THROUGH A FEW OF THOSE SCENARIOS.
THERE IS A MULTITUDE OF SCENARIOS WE COULD PUT TOGETHER, MIXING AND MATCHING WHAT CAPS TO BUILD.
AND SO WE WANTED TO GIVE YOU A, A RECOMMENDATION THAT AS A BASELINE THAT YOU COULD START WITH AS YOU CONSIDER, UH, YOUR, UH, THE DECISION ON DECEMBER 12TH, ON WHICH CAPS WE WANNA PROCEED WITH AS, UH, STAFF WILL LAY OUT TODAY.
THERE'LL BE SEVERAL ACTIONS ON YOUR DECEMBER 12TH, UH, COUNSEL AGENDA FOR YOU TO CONSIDER SO WE CAN MOVE FORWARD WITH THIS PROJECT.
AND WITH THAT, I'M GONNA TURN IT OVER TO MICHELLE AND SHE'LL WALK YOU THROUGH THE REST OF THE PRESENTATION.
UH, MICHELLE MARKS, UH, TRANSPORTATION PUBLIC WORKS MAYOR COUNCIL, THANK YOU FOR HAVING US TODAY.
UM, I'LL JUST JUMP RIGHT INTO IT.
UM, JUST A QUICK OVERVIEW OF THE OUR FUTURE 35 VISION PLAN.
WE DID HAVE AN OPPORTUNITY TO SHARE THIS, UH, PRODUCT WITH MOBILITY COMMITTEE LAST WEEK.
UM, SO I'LL JUST VERY QUICKLY PROVIDE AN OVERVIEW.
UH, MOST IMPORTANT IS, UH, THE INTENT OF THE VISION PLAN.
IT REALLY IS, UM, A DOCUMENT THAT, UH, REALLY CAPTURES WHAT WE'VE HEARD FROM COMMUNITY, UM, OVER THE LAST TWO YEARS IN TERMS OF RESIDENTS AND COMMUNITY MEMBERS' DESIRED OUTCOMES AND PRIORITIES FOR HOW THE CAP AND STITCH PROJECT, UM, UNFOLDS AND DEVELOPS MOVING FORWARD OVER THE NEXT, THE NEXT SEVERAL YEARS.
UM, AND IT'S REALLY INTENDED TO BE A ROADMAP FOR THE, UH, AMENITIES WE DESIGN ON TOP THE, UH, DECISIONS WE MAKE REGARDING OPERATIONS AND PROGRAMMING MOVING FORWARD.
AND, UH, A COUPLE KEY ELEMENTS FROM THE VISION PLAN.
UM, FIRST WE DO PROVIDE SOME CLARITY, UH, REGARDING THE LOCATIONS WHERE CAPS AND STITCHES ARE POSSIBLE ALONG THE I 35 CORRIDOR.
AND WE'VE IDENTIFIED THESE LOCATIONS IN PARTNERSHIP WITH TXDOT.
THESE ARE LOCATIONS THAT MEET TDOT'S REQUIREMENTS IN REGARDS TO VERTICAL CLEARANCE OVER THE FREEWAY BELOW.
SO THE LOCATIONS YOU'RE SEEING HERE ON IN BLUE ARE THOSE WHERE, UM, ARE EIGHT CAPS AND STITCHES ARE POSSIBLE IN AUSTIN, STARTING WITH THE HOLLY STITCH AT THE SOUTHERNMOST EXTENT OF THE CORRIDOR.
UM, THEN LOOKING AT A, A MORE OR LESS CONTINUOUS CAPPING OPPORTUNITY BETWEEN CESAR CHAVEZ UP TO ABOUT SEVENTH STREET, ANOTHER CAP OPPORTUNITY BETWEEN 11TH AND 12TH.
UM, AND THEN AGAIN, UP BETWEEN 38TH AND A HALF, UM, TO APPROXIMATELY AIRPORT BOULEVARD, ANOTHER LARGE CAPPING OPPORTUNITY, UM, IN THE MIDDLE OF THE CORRIDOR IN ORANGE HERE
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YOU'LL SEE THE LOCATIONS WHERE THE UNIVERSITY OF TEXAS, UM, IS CURRENTLY EVALUATING THEIR OPPORTUNITIES ALONG THEIR FRONTAGE, UM, FOR CAPS AND STITCHES IN CONJUNCTION AND IN PARALLEL TO THE CITY'S EFFORT.UM, THE VISION PLAN ALSO CLARIFIES THE COMPONENTS OF CAP AND STITCH STRUCTURES.
UM, WHAT YOU'RE SEEING HERE IN COLOR CODED FORMAT, UM, ARE THE THREE ELEMENTS, UM, THAT WE'VE BEEN COMMUNICATING TO, TO YOU, AND TO COMMUNITY.
UM, AND THE FIRST ARE THESE ELEMENTS IN BLUE, WHAT WE'VE BEEN REFERRING TO AS, UM, THE ROADWAY ELEMENTS.
THESE ARE REALLY THE, THE STRUCTURAL SUPPORT ELEMENTS, THE COLUMNS, THE FOOTINGS, ET CETERA, THAT REALLY HAVE TO BE CONSTRUCTED IN CONJUNCTION WITH, UH, THE TXDOT ROADWAY PROJECT.
UM, AND THEN IN RED HERE ARE WHAT COULD BE CONSIDERED PHASE TWO ELEMENTS.
UM, AND THESE ARE, UH, THE HORIZONTAL DECK STRUCTURES THAT SPAN OVER THE FREEWAY, ALONG WITH ASSOCIATED TUNNEL ELEMENTS LIKE THE VENTILATION FANS YOU'RE SEEING IN THIS DIAGRAM, AND ANY KIND OF EXTERNAL SUPPORT CABINETS OR STRUCTURES THAT COME WITH THE PROVISION OF THOSE TUNNELS.
UM, NOW WE'LL TALK A LOT ABOUT THIS TODAY, BUT THE BLUE ROADWAY ELEMENTS, UH, MUST BE IN PLACE AS A PHASE ONE IN ORDER FOR THESE PHASE TWO RED DECK STRUCTURES, UM, TO BE POSSIBLE IN FUTURE.
UM, AND THEN IN GREEN, WHAT YOU'RE SEEING ARE, UM, THE CITY PROVIDED AMENITIES, UM, AND OPEN SPACE FEATURES THAT WOULD BE CONSTRUCTED ON TOP OF THE DECKS AFTER THAT.
SO BEFORE WE KICK OFF HERE, UM, I WANNA MAKE SURE WE'RE ALL ON THE SAME PAGE IN REGARD TO WHAT OUR DECISION POINTS ARE AND THOSE MILESTONES WE HAVE AHEAD OF US IN THE COMING YEARS.
SO WE'RE HERE IN FRONT OF YOU TODAY BECAUSE, UH, ONE OF THOSE DECISION POINTS IS COMING UP HERE, UH, NEXT MONTH.
UM, AND THIS IS THE POINT AT WHICH, UM, TXDOT IS REQUESTING A COMMITMENT FROM THE CITY REGARDING, UM, THE ROADWAY ELEMENTS, UM, THAT WE ARE MOVING FORWARD WITH OR ARE NOT MOVING FORWARD WITH.
UM, AND THEY NEED THAT FUNDING COMMITMENT FROM US THIS CALENDAR YEAR IN ORDER TO KEEP THEIR CONSTRUCTION PROJECT MOVING FORWARD AND ON SCHEDULE THE ACTUAL FUNDS FOR ANY ROADWAY ELEMENTS, UM, THAT WE, UM, WELL, THAT YOU DECIDE TO MOVE FORWARD WITH, UH, WON'T ACTUALLY BE TRANSMITTED UNTIL A YEAR FROM NOW IN DECEMBER, 2025.
BUT THAT COMMITMENT IS DUE THIS YEAR.
THEN LOOKING AHEAD TO 20 26, 20 32, YOU'LL SEE ON YOUR TIMELINE HERE, THESE ARE A COUPLE OF, UH, POINTS ALONG THE T PROJECT AT WHICH THE CITY COULD, UH, FOLD IN ADDITIONAL CAP, HORIZONTAL CAP STRUCTURES, UM, TO BE CONSTRUCTED IN CONJUNCTION WITH THAT TDOT PROJECT.
SO, UH, WHILE THE ROADWAY ELEMENTS FUNDING COMMITMENT IS, IS NOW, WE DO HAVE SOME TIME 26, 20 32, AND EVEN UP TO 2042 TO PUT FUNDING STACKS TOGETHER FOR THOSE HORIZONTAL DECK ELEMENTS IN THE YEARS TO COME.
AND THEN YOU'LL SEE AT THE BOTTOM OF YOUR TIMELINE HERE, UM, ADDITIONAL TIME TO REALLY PUT TOGETHER PARTNERSHIPS AND STRATEGIES, UM, WITH COMMUNITY MEMBERS, UM, TO HELP FUND THE PROVISION OF AND MAINTENANCE AND OPERATION OF THE AMENITIES ON TOP OF THOSE DECKS.
UM, JUST A REMINDER, UM, THAT, UH, REGARDLESS OF, UH, COUNCIL'S DECISION, UM, ABOUT WHERE WE ARE OR ARE NOT PURSUING FREEWAY DECKS OR ROADWAY ELEMENTS, UM, TDOT'S BASE PROJECT DOES INCLUDE THE PROVISION OF EN ENHANCED AMENITY ZONE BEHIND THE CURB ON ALL OF THE BRIDGES THAT THEY WILL BE RECONSTRUCTING AS PART OF THEIR BASE PROJECT.
UM, SO WHAT YOU'RE SEEING HERE, UM, ARE RENDERINGS OF WHAT THAT POTENTIAL AMENITY ZONE COULD BE, THAT 30 FEET OF LANDSCAPE AND PEDESTRIAN AND BICYCLE ENHANCEMENTS.
UH, SO, UH, BRIDGES WILL SEE SOME MANNER OF, OF IMPROVEMENT NO MATTER WHAT, UM, DECISION, UH, CITY COUNCIL MAKES REGARDING CAPS AND STITCHES.
BACK TO THE VISION PLAN ITSELF, UH, JUST REALLY QUICKLY WANTED TO ACQUAINT YOU, UH, WITH THE VISION STATEMENT AND THE SIX GOALS FOR THIS CAP AND STITCH PROGRAM THAT HAVE BEEN DEVELOPED WITH A, A LOT OF COMMUNITY INPUT.
UM, AND, UH, THE INTENT HERE IS THAT AS WE MOVE FORWARD WITH PROGRAMMING AND OPERATIONAL DECISIONS, UH, THAT THESE SIX GOALS REALLY
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BE, UM, A BIT OF A, A CHECK AGAINST ALL OF THE DECISIONS THAT WE'RE MAKING MOVING FORWARD TO MAKING TO ENSURE THAT WE ARE MEETING THE COMMUNITY'S PRIORITIES AS WE HAVE HEARD THEM.AND THEN THE VISION PLAN DOES, UH, IN ADDITION, UM, DISTILL THE TWO YEARS OF COMMUNITY INPUT THAT, THAT WE'VE HEARD INTO SOME KIND OF GENERAL DESIRED CHARACTER, UH, FOR EACH OF THESE POTENTIAL CAP OPPORTUNITIES, UM, TO HELP, UH, REALLY DIRECT, UH, THE ON CAP AMENITY AMENITY DESIGN, UM, THAT WILL MOVE FORWARD AS THESE CAP DECKS ARE, UM, FUNDED AND GIVEN A GREEN LIGHT TO MOVE FORWARD.
UM, SO WHAT YOU'RE SEEING HERE IS AN EXCERPT FROM THE VISION PLAN SHOWING A POTENTIAL CAPPED CONCEPT FOR THE CAP BETWEEN CESAR CHAVEZ AND FOURTH STREET.
WE SHOW EACH OF THESE, EACH OF THE CAP OPPORTUNITIES IN BOTH PLAN AND SECTION.
UM, WE'VE DONE A LOT OF WORK WITH THE TEXT DESIGN AND ENGINEERING TEAM OVER THE PAST COUPLE OF YEARS TO REALLY, UM, IDENTIFY THE, UH, EXTENT OF EACH OF OUR CAP OPPORTUNITIES, THE ELEVATIONS, UM, HOW ALL EACH OF THESE CAPS WILL TIE INTO, UM, THE STREET NETWORK, UM, AND LAND USE, UM, PARCELS SURROUNDING THEM, THE SURROUNDING BRIDGES.
UM, SO DONE A LOT OF WORK ON, UM, EXTENT AND ELEVATION TO FEED INTO THOSE FUTURE DESIGN TEAMS. AND, UH, THE REASON, UH, WE'RE USING THE CESAR CHAVEZ CAP IN PARTICULAR AS AN EXAMPLE HERE, UM, IS BECAUSE, UM, AS YOU KNOW, THIS IS THE CAP THAT WE DID, UH, RECEIVE $105 MILLION FROM THE FEDERAL GOVERNMENT, UM, FOR THE PROVISION OF THIS CAP, UM, BETWEEN CESAR CHAVEZ AND FOURTH.
UM, BUT FOR EACH OF THE CAPS, UH, WHAT YOU'LL SEE IN THE CONCEPTUAL PLANS ARE REALLY ILLUSTRATIONS OF HOW THE COMMUNITY FEEDBACK THAT WE'VE HEARD COULD BE INTERPRETED AND COULD FOLD INTO A DESIGN PLAN MOVING FORWARD.
BUT THIS CAP, IN PARTICULAR WILL BE KICKING OFF A DESIGN INITIATIVE IN THE COMING MONTHS.
I WILL STRESS THAT WHAT THE VISION PLAN SHOWS ARE, UM, FULL BUILD AMENITY CONCEPTS.
UH, THE VISION PLAN DOES CLARIFY THAT IN ADDITION TO THOSE PHASE ONE AND PHASE TWO ELEMENTS I WALKED YOU THROUGH OF ROADWAY ELEMENTS FIRST, THEN DECK STRUCTURES, HORT DECK STRUCTURES SECOND, UM, EVEN THE AMENITIES COULD BE BROKEN DOWN, UM, INTO A PHASED IMPLEMENTATION STRATEGY THAT COULD, UM, BE APPLIED AS, YOU KNOW, FUNDING IS AVAILABLE.
UH, PARK STRUCTURES, FOR EXAMPLE, COULD START WITH JUST FOR GRASS AND TREES AND PEDESTRIAN PATHS.
UM, AND AS FUNDING IS, IS PROCURED WITH OUR PARTNERS, LAYERING ON ADDITIONAL PUBLIC SPACE AMENITIES ALL THE WAY UP TO, UH, BUILDINGS AS A POTENTIAL PHASE FIVE.
AND THEN JUST TO, UH, HAMMER HOME SOME OF THOSE, UM, FUNDING AND PROJECT DELIVERY MILESTONES.
UM, WE, UM, I'LL REMIND COUNSEL THAT YOU DID LAST DECEMBER COMMIT, UH, $15 MILLION IN FUNDING TO TXDOT TO PROGRESS WITH 30% DESIGN OF ALL OF THE POTENTIAL CAP AND STITCH LOCATIONS.
UM, WHERE WE ARE NOW A YEAR LATER IS, UM, LOOKING ONCE AGAIN AT THOSE OPPORTUNITIES, UM, AND THEN NEXT MONTH, UM, THE DECISION WILL BE IN FRONT OF YOU TO, UM, MAKE THAT COMMITMENT REGARDING WHICH OF THOSE ROADWAY ELEMENTS, UH, WILL MOVE FORWARD, UH, TO FULL DESIGN 100% DESIGN.
UM, SO BOTH OF THOSE ITEMS COMING, UM, AT YOUR NEXT MEETING IN 1212, UM, AGAIN, THAT ACTUAL FUNDING, UH, TRANSMITTED A YEAR LATER IN 2026.
AND THEN THOSE, UH, THREE UPCOMING OPPORTUNITIES TO KIND OF LAYER IN THE HORIZONTAL DECK STRUCTURES INTO THE TEXT PROJECT THAT I WALKED YOU THROUGH PREVIOUSLY.
ALRIGHT, UM, SO WITH NO FURTHER ADO, UM, WHAT THE, YOU HAVE IN FRONT OF YOU ON YOUR SCREEN ARE THE UPDATED COST ESTIMATES, UM, THAT TT HAS PROVIDED US.
I'M REALLY GONNA FOCUS THE CONVERSATION INITIALLY HERE ON, UM, THE FIRST TWO COLUMNS AT THE LEFT OF THE SCREEN, PHASE ONE, THOSE ROADWAY ELEMENTS, UH, THE COMMITMENT REQUIRED THIS YEAR, AND THEN LOOKING AHEAD TO THOSE PHASE TWO DECK AND TUNNEL ELEMENTS.
UM, SO WHAT YOU'RE SEEING, UM, ARE THE COST ESTIMATES BROKEN DOWN ACCORDING TO EACH, UH, CAP OPPORTUNITY ON THE LEFT OF YOUR SCREEN.
UM, IN THE GRAY COLUMN ARE THE ORIGINAL COST ESTIMATES, UM, THAT WE SHARED WITH YOU, UM, ABOUT A YEAR AGO.
AND THEN IN THE LIGHT BLUE COLUMN IMMEDIATELY ADJACENT TO THAT,
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UM, THE UPDATED COST ESTIMATES NOW THAT TEXDOT HAS MOVED FORWARD, UM, WITH THAT 30% DESIGN AND ENGINEERING.UM, SO WHAT YOU'RE SEEING HERE, UM, IN TOTAL AT THE BOTTOM OF YOUR SCREEN IS, UM, IF, UH, WE AS A CITY DECIDE TO MOVE FORWARD WITH PROVIDING ROADWAY ELEMENTS, UM, TO SECURE ALL POTENTIAL CAPS AT ALL POTENTIAL LOCATIONS, UM, THE CURRENT ESTIMATE FOR THAT IS $284 MILLION, UM, THAT WE WOULD NEED TO COMMIT TO.
AND THEN LOOKING AHEAD, UM, TO THE ASSOCIATED COST FOR THE CAP STRUCTURES FOR THOSE ELEMENTS WOULD BE APPROXIMATELY $600 MILLION.
UM, SO THE FULL VISION PLAN, ALL OF THE CAPS AND STITCH STITCHES IDENTIFIED IN THAT VISION PLAN, JUST THE STRUCTURAL ELEMENTS ALONE, UM, UH, LOOKING AT APPROXIMATELY $900 MILLION, UM, WE HAVE, UM, OUR TEAM ESTIMATED, UH, SOME, WHAT WE MIGHT BE LOOKING AT FOR THE PROVISION OF AMENITIES ON TOP OF THOSE DECKS AS WELL AS ONGOING, UM, OPERATIONS AND MAINTENANCE COSTS TO, UM, THE RIGHT HAND SIDE OF YOUR SCREEN HERE.
UM, BUT AGAIN, UM, THOSE, THOSE COSTS ARE, ARE, UM, SUCH THAT WE HAVE A LITTLE BIT MORE TIME TO PUT TOGETHER, UM, PARTNERSHIPS WITH, UM, MEMBERS OF EXTERNAL MEMBERS OF THE COMMUNITY.
AND IT'S REALLY THE STRUCTURAL TOTALS, UM, THAT WE WANNA, UM, DISCUSS WITH YOU TODAY AS REALLY BEING, UM, THE UPFRONT NEED FROM THE CITY, UM, TO MOVE THIS CAP AND STITCH, UH, INITIATIVE FORWARD.
SO, UM, GIVEN THE $900 MILLION ESTIMATE, UM, STAFF, UM, WANTED TO BRING YOU SOME OPTIONS TODAY TO CONSIDER FOR, UM, UH, HOW WE MIGHT, UM, PRIORITIZE OR PACKAGE SOME OF THESE CAP AND STITCH OPPORTUNITIES, UM, IN THE EVENT THAT THAT, UH, MIGHT BE TOO HIGH A PRICE TAG.
UH, BEFORE WE GET INTO THOSE, UH, POTENTIAL SCENARIOS FOR YOUR CONSIDERATION.
UM, JUST A REMINDER THAT WE DO HAVE, UM, ABOUT $191 MILLION SECURED TO DATE.
THAT'S A COMBINATION OF THE $105 MILLION FEDERAL GRANT.
UM, I MENTIONED EARLIER, UM, WHICH DID REQUIRE A COMMITMENT ON OUR END WITH FOR A $45 MILLION MATCH.
UH, WE WERE ALSO RECENTLY NOTIFIED, UM, THAT WE, UM, ARE BEING AWARDED A $41 MILLION, UH, STATE INFRASTRUCTURE BANK LOAN FROM TECH.
THAT $41 MILLION CAN BE APPLIED TOWARD THAT $45 MILLION LOCAL MATCH.
UM, IN CONSIDERING THESE RESOURCES, WE DO HAVE ON HAND IMPORTANT TO NOTE THAT THOSE, UH, GRANT MONIES AND THE ASSOCIATED MATCH, UM, IS PRIMARILY DEDICATED TO THE CESAR CHAVEZ TO FOURTH CAP.
SO IT'S REALLY THE $41 MILLION SIB LOAN, UM, THAT COULD POTENTIALLY BE USED OUTSIDE OF THE CESAR CHAVEZ TO FOURTH EXTENT.
SO STAFF HAS, UH, TAKEN, UM, A PASS AT DOING BOTH KIND OF A, A QUALITATIVE, BUT ALSO A QUANTITATIVE EVALUATION.
CAN I INTERRUPT REAL QUICK? PLEASE DO, AND MAYBE I MISUNDERSTOOD, BUT I THOUGHT THAT FHWA HAD ALSO GIVEN SOME FLEXIBILITY ON THE $105 MILLION.
THANK YOU FOR THAT QUESTION, MAYOR.
UM, WE HAD, UM, DISCUSSION WITH FHWA AND THE ANSWER WAS THAT WE COULD NOT SPEND THOSE DOLLARS OUTSIDE OF THE PROJECT EXTENT.
WE COULD, IF WE WANTED TO SHRINK THE PROJECT EXTENT TO BE SMALLER, IF WE, UM, AS A COMMUNITY FELT LIKE WE NEEDED TO, UM, BETTER MATCH THE SIZE OF THE PROJECT TO THE RESOURCES AVAILABLE TO US.
UM, BUT THE ANSWER FROM FHWA WAS, UM, THAT NO, WE COULD NOT, UM, IN EFFECT SPREAD THE PEANUT BUTTER.
THAT'S THE OPPOSITE OF WHAT I THOUGHT I WAS TOLD.
SO, UH, I MEAN, LITERALLY THE 180 DEGREE OPPOSITE, SO, BUT I, I, I BELIEVE YOU, IT'S JUST, UH, OKAY.
YEAH, WE DID HAVE, UM, A COUPLE OF CONVERSATIONS TO THEM BECAUSE WE DEFINITELY WANTED TO KIND OF NAIL THAT ANSWER DOWN FOR YOU BY TODAY.
UM, BUT THEY DID CONFIRM IN WRITING TO US THAT, UM, WE COULD SHRINK OUR PROJECT, BUT WE COULDN'T GROW OUR PROJECT.
SO WE COULD TAKE LESS MONEY FROM 'EM.
WE JUST COULDN'T USE IT FOR SOMETHING ELSE.
WE CAN BUILD A LITTLE BIT LESS THAN
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WE APPLIED FOR IN OUR APPLICATION.WE COULD SHRINK THE SIZE OF THE PROJECT AND THE PROJECT BEING THE ASSESSOR CHAVEZ MM-HMM.
IF, IF THAT'S THE ANSWER, IT'S JUST ABSOLUTELY DIFFERENT THAN WHAT SOMEBODY ELSE TOLD ME.
I APOLOGIZE IF THERE WAS MISINFORMATION OUT THERE.
UM, SO GIVEN THAT, UM, THE STAFF HAS TAKEN, UM, A PASS AT, UM, EVALUATING IN, UM, AS, UH, A QUANTITATIVE WAY, UM, THE COST BENEFIT TO US AS A COMMUNITY FOR THESE VARIOUS CAP AND STITCH OPPORTUNITIES, AND, AND THE LENS WE HAVE APPLIED HERE IS REALLY, UH, MORE FISCAL THAN ANYTHING.
SO THE CRITERIA ON THE LEFT, ONE, TWO, AND THREE, UM, THESE ARE FACTORS THAT ARE, UM, VERY IMPORTANT IN ALL OF THE GRANT APPLICATIONS THAT WE APPLY FOR, UM, MULTIMODAL TRANSPORTATION, UH, THE, UM, ADJACENT, UM, THE STATUS OF ADJACENT CENSUS TRACKS AND THE FEDERAL BENEFIT COST ANALYSIS.
UM, SO THESE FIRST THREE CRITERIA REALLY INTENDED TO MAKE SURE THAT WE ARE STAYING GRANT COMPETITIVE IN THE FUTURE, AND THEN THE CRITERIA ON THE RIGHT FUNDING CONSIDERATIONS ONE AND TWO, THESE ARE REALLY LOOKING AT THE POTENTIAL FOR THESE INDIVIDUAL CAP LOCATIONS TO, UM, INCENT REDEVELOPMENT ON ADJACENT PARCELS, FOR EXAMPLE, AND THEN ALSO TO, UM, POTENTIALLY HOST ON CAP FEATURES THAT COULD HELP GENERATE REVENUE TO HELP OFFSET THE COST OF ONGOING OPERATIONS AND MAINTENANCE.
THINGS LIKE LEASEABLE SQUARE FOOTAGE OR, UM, THE CAPACITY OF A PARTICULAR CAP TO, UM, HOST LARGE SCALE EVENTS, FOR EXAMPLE.
SO WHAT YOU'RE SEEING IN THE TABLE IN FRONT OF YOU THEN ARE THOSE QUALITATIVE SCORES FOR EACH OF THOSE SIX CRITERIA FOR EACH OF OUR CAP AND STITCH OPPORTUNITIES.
UM, AND WHAT'S EMERGED HERE IS IT'S REALLY THE CAPS IN, IN THE CORE DOWNTOWN AREA, I'D SAY BETWEEN CESAR CHAVEZ UP TO THE 11TH AND 12TH STREET AREA, UM, THAT ARE SCORING HIGHEST ON THESE INDIVIDUAL CRITERIA.
AND, UM, THE FIRST STAFF RECOMMENDATION THEN THAT I'LL BRING TO YOU TO TODAY IS, UM, IF WE, UM, ARE IN A MODE WHERE WE ARE TRYING TO GET THE PRICE TAG DOWN, UM, A LITTLE BIT, UM, ONE RECOMMENDATION WOULD BE TO CONSIDER ELIMINATING SOME OF THESE LOWER SCORING, UM, CAPS AND STITCHES AT THE ENDS.
UM, THE POLAR ENDS OF THE PROJECT CORRIDOR THAT POTENTIALLY DON'T PROVIDE AS MUCH COMMUNITY COST BENEFIT.
THOSE WOULD BE ON THE SOUTHERN EXTENT, UM, THE HOLLY STITCH AND THE EXTENSION OF THE CESAR CHAVEZ CAP SOUTH OF CESAR CHAVEZ.
UM, THESE ARE BOTH LOCATIONS THAT ARE, UM, 300 FEET OR LESS AND WOULD PROVIDE LESS COVER OVER THE FREEWAY.
AND THEN ON THE NORTHERN EXTENT OF THE PROJECT, THE CAP NORTH OF THE RED LINE CROSSING UP TO AIRPORT BOULEVARD, UM, COULD BE AN ANOTHER, UM, LOCATION THAT MIGHT PROVIDE LESS, UH, BENEFIT IN TERMS OF THESE SIX CRITERIA.
UM, BEFORE I GET INTO THE SCENARIOS FOR YOUR CONSIDERATION, AND, YOU KNOW, ANOTHER WAY TO REDUCE COST, UH, IF THAT'S THE WAY THAT THIS COUNCIL WOULD LIKE TO GO, IS NOT JUST TO BUILD FEWER CAPS, BUT COULD ALSO BE, UM, TO BUILD LESS CAP AT EACH OF THESE LOCATIONS.
UM, MAYOR, THIS IS THE, UM, SCENARIO THAT FEDERAL HIGHWAYS DID SIGN OFF ON.
IF THIS IS THE DIRECTION COUNCIL WOULD LIKE TO GO, WE COULD POTENTIALLY SHRINK THE AMOUNT OF CAP WE'RE WE, UM, ARE BUILDING.
SO YOU'LL RECALL IN THE VISION PLAN THERE WAS, UM, UM, A MORE OR LESS CONTINUOUS CAP, UH, BETWEEN SAYS OUR CHAVEZ AND FOURTH STREET.
ONE OPTION YOU COULD CONSIDER WOULD BE TO SHRINK THE LENGTH OF SOME OF OUR CAPS TO 800 FEET OR LESS, WHICH IS THE OUTLINE THAT YOU'RE SEEING ON YOUR SCREEN.
UM, THESE KIND OF 800, THIS 800 FOOT THRESHOLD DOES PROVIDE SOME, UM, IMPORTANT LINE ITEM SAVINGS, UM, FOR CAPS, NOTABLY, WHEN YOU'RE 800 FEET OR LESS, UM, YOU NO LONGER HAVE TO PROVIDE, UM, SOME OF THE TUNNEL ELEMENTS LIKE VENTILATION FANS, LIKE EXTERNAL TUNNEL SUPPORT BUILDINGS.
SO THERE ARE SOME SAVINGS THERE, AND WE'VE OUTLINED THOSE FOR YOU, UM, IN THE TABLE HERE TO COMPARE,
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UM, THE COST FOR THE FULL LENGTH CAP TO THE 800 FOOT LONG OPTION.UM, AND THEN YOU CAN SEE THE DIFFERENCE TOTAL THERE.
UM, WHAT THIS APPROACH IN DOLLARS WOULD SAVE, UM, FOR THOSE PHASED ONE ROADWAY ELEMENTS, UM, ABOUT AN $11 MILLION SAVINGS.
AND THEN, UM, ABOUT A $30 MILLION SAVINGS FOR THE PHASE TWO DECK AND TUNNEL ELEMENTS.
UM, I'LL NOTE HERE THAT, UM, IT'S NOT NECESSARILY LESS EXPENSIVE PER SQUARE FOOT, UM, TO GO THIS ROUTE.
UM, IT, IT REALLY IS A FACTOR OF BUILDING LESS CAP, UM, JUST CUTS OUR COSTS, AND THAT WOULD BE TRUE, UM, FOR THE OTHER LOCATIONS THAT COULD POTENTIALLY, UM, SHRINK IN SIZE AS WELL.
THE VISION PLAN PROVIDES, UM, AN ILLUSTRATION OF A, A CAP BETWEEN ALL THE WAY BETWEEN FOURTH, UM, ON THE SOUTH END UP TO SEVENTH STREET.
UM, HERE IS WHAT AN 800 FOOT LONG SCENARIO COULD LOOK LIKE, UM, AND THE ASSOCIATED PHASE ONE AND PHASE TWO, UH, POTENTIAL COST SAVINGS WITH THAT APPROACH AS WELL.
UM, ALSO APPLICABLE UP IN THE NORTHERN AREA, UM, YOU'LL RECALL THE VISION PLAN, UM, SHOWS THE POTENTIAL FOR A VERY LARGE CAP BETWEEN 38TH AND A HALF STREET ALL THE WAY UP TO AIRPORT BOULEVARD.
UM, EVEN BEYOND THE EXTENT OF THE IMAGES YOU'RE SEEING HERE.
UM, A SLIGHTLY INCREASED POTENTIAL COST SAVINGS UP IN THIS AREA FOR SHRINKING THE EXTENT OF THAT DOWN TO 800 FEET.
SO COULD SAVE AS MUCH AS 20 SOME ODD MILLION DOLLARS IN ROADWAY ELEMENTS.
AND THEN 44, UH, MILLION DOLLARS IN PHASE TWO DECK AND TUNNEL ELEMENTS.
SO WITH THAT, UM, I'LL GO AHEAD AND WALK YOU THROUGH, UH, THE FIVE, UM, POTENTIAL SCENARIOS THAT STAFF HAS ASSEMBLED, UM, FOR YOUR CONSIDERATION AS ASSISTANT CITY MANAGER.
UM, THIS REALLY IS, UM, THERE ARE INNUMERABLE SCENARIOS YOU COULD CONSIDER, UM, AND THIS REALLY COULD BE VIEWED AS, UM, A STARTING POINT, A STARTING MENU FOR YOU.
UM, THE WAY THIS TABLE WORKS IS STARTING WITH SCENARIO ONE ON THE LEFT AND SCENARIO TWO, MOVING UP TO FIVE, UM, SCENARIOS ONE, AND THEN UP TO TWO AND BEYOND, REALLY START WITH THOSE HIGHEST SCORING CAPS.
UM, YOU'LL NOTE THAT THE CESAR CHAVEZ CAP AND, UM, THE 11TH AND 12TH CAP ARE IN ALL OF THESE SCENARIOS.
AND AS YOU MOVE TO THE RIGHT OF YOUR SCREEN HERE, UM, WE LOOK FOR OPPORTUNITIES TO LAYER IN A ADDITIONAL CAPS, UM, ALONG THE CORRIDOR.
AND THAT COULD BE, UM, THROUGH A STRATEGY OF SHRINKING CAPS OF, OF TRADING LOCATIONS.
UM, AND SO WE REALLY JUST WANTED TO KIND OF DAYLIGHT SOME OF THESE POTENTIAL TRADE-OFFS AND OPTIONS FOR YOU, UM, AND HOW THOSE OPTIONS KIND OF GRADUALLY INCREASED IN COST COMMITMENT AS, AS WE MOVE UP TOWARD, UM, THE FULL VISION PLAN, UM, ALL THE WAY TO THE RIGHT OF YOUR SCREEN.
UM, THE NUMBERS IN RED AT THE BOTTOM OF EACH ROW ARE THE, UH, REMAINING FUNDING GAPS, UM, THAT WE WOULD NEED TO IDENTIFY A SOURCE FOR, UM, ASSOCIATED WITH EACH OF THESE SCENARIOS.
SO THE TOP, UH, ROW IN LIGHT BLUE HERE ARE THOSE PHASE ONE ROADWAY ELEMENTS.
UM, YOU'LL SEE THAT, UM, SCENARIO ONE WE COULD MOVE FORWARD WITH, UM, WITH NO FUNDING GAP THIS CALENDAR YEAR, THAT'S TAKING INTO ACCOUNT THAT $191 MILLION, UH, THAT I WALKED YOU THROUGH PREVIOUSLY.
SCENARIO TWO WOULD, UM, HAVE A SMALL FUNDING GAP AS WE MOVE UPWARD TO SCENARIO THREE, FOUR, AND FIVE, UM, A LARGER FUNDING GAP THAT WE WOULD NEED TO, UM, IDENTIFY A FUNDING SOURCE FOR, UM, NEXT MONTH.
AND WE ARE PROVIDING, UM, A STAFF RECOMMENDATION FOR YOU TODAY.
UM, AND IT REALLY IS KIND OF RIGHT UP THE MIDDLE OF THAT SCENARIO CHART I SHOWED YOU.
UM, STAFF IS, UH, RECOMMENDING SCENARIO THREE AS A STARTING POINT.
AND THIS IS, UH, THESE ARE THE CAP LOCATIONS THAT, UM, WE FEEL WOULD BE LIKE REALLY A, A BARE MINIMUM, UM, TO MOVE FORWARD WITH.
UM, SO AGAIN, A STARTING POINT FOR YOU.
UM, THIS SCENARIO LOOKS AT PROVIDING AS MUCH CAP OPPORTUNITY AS WE CAN ALONG THE LENGTH OF THE CORRIDOR, UM, BUT, BUT TRYING TO BE AS, UM, FISCALLY CONSERVATIVE AS WE CAN BY SHRINKING THE EXTENT OF THOSE CAPS FOR COST SAVINGS.
UM, AND YOU CAN SEE HERE ON THE BOTTOM LINE OF YOUR TABLE, UM, THE PHASE ONE FUNDING GAP, UH, FOR THIS SCENARIO, UM, THAT WE WOULD NEED TO ADDRESS BY THE
[00:30:01]
END OF THE YEAR IS $39 MILLION.UM, AND THEN $202 MILLION WOULD BE THE PHASE TWO FUNDING GAP.
AGAIN, THAT PHASE TWO, UM, COMMITMENT, WE HAVE MORE TIME TO PUT THAT FUNDING STACK TOGETHER.
I AM GONNA HAND THIS OVER TO KIM.
UM, SO MICHELLE HAS WALKED YOU THROUGH ALL THE VARIOUS COMPONENTS OF JUST THE, THE VISION PLANNED, UM, THE DIFFERENT COST INCREASES.
UM, AND NOW I'M GOING TO, AND WHAT OUR RECOMMENDED SCENARIO IS, I'M GONNA DIG INTO THE FUNDING COMPONENTS OF THAT RECOMMENDED SCENARIO.
UM, SO WITH SCENARIO THREE, WHICH INCLUDES THE DOWNTOWN CAPS, BUT AT THE 800 FOOT, UM, UM, SIZE AS WELL AS AN 800 FOOT NORTHERN CAP, UM, FOR PHASE ONE, YOU'RE LOOKING AT A TOTAL COST OF $109 MILLION FROM EXISTING FUNDING SOURCES FROM THAT FEDERAL GRANT AND THE STATE INFRASTRUCTURE BANK LOAN, UM, WE HAVE, UH, PARDON ME, 29 AND $41 MILLION RESPECTIVELY.
THAT MEANS OUR CURRENT GAP ON THE PHASE ONE, WHICH IS THE REQUIREMENT FOR US TO COMMIT IN 2024 TO TXDOT IS $39 MILLION.
AS YOU MOVE INTO PHASE TWO, UM, WHICH AGAIN, IS NOT REQUIRED UNTIL 2032.
UM, THE TOTAL COST SYSTEM IS $278 MILLION OF WHICH, UH, THE REMAINING $76 MILLION OF THE FEDERAL GRANT WOULD BE APPLIED, LEAVING US WITH A $202 MILLION GAP.
SO BETWEEN THOSE, UM, THOSE GAPS OF JUST PHASE ONE AND PHASE TWO, UM, THERE'S A, WE'RE TALKING ABOUT, UM, 240, UH, $1 MILLION IN NEED.
SO, BUT THIS ALSO DOESN'T ACCOUNT FOR CERTAIN PHASE THREE REQUIREMENTS.
WE HAVE THAT FEDERAL GRANT DOES HAVE, UM, MORE REQUIREMENTS RELATED TO FINISHED PRODUCT KIND OF A THING.
UM, SO EVEN ONCE WE HAVE THE ROADWAY ELEMENTS AND THE CAP, THERE IS AN EXPECTATION BETWEEN SWISS CHAVEZ AND FOURTH THAT, UM, WE WOULD HAVE, UH, CERTAIN LEVEL OF AMENITIES, UM, COMPLETED, UM, THROUGH LANDSCAPING AND, AND OTHER, UM, OTHER AMENITIES.
SO FOR PHASE ONE, UM, AS PART OF OUR RECOMMENDATION, WE ALSO HAVE RECOMMENDATIONS ON HOW TO MEET THAT FUNDING GAP FOR EACH PHASE.
SO FOR THE FIRST PHASE, UM, WE WOULD RECOMMEND, UH, CERTIFICATES OF OBLIGATION.
WE WOULD, HOWEVER, WANT TO CHANGE OUR DEBT SERVICE, UH, TIMELINE FOR THAT TO BE SHORTER.
UH, CERTIFICATE, AS YOU KNOW, CERTIFICATES OF OBLIGATION DO PREVENT ECONOMIC DEVELOPMENT.
THAT RESTRICTION ONLY EXISTS FOR AS LONG AS THE DEBT IS OUTSTANDING.
SO WE WOULD LOOK TO AMORTIZE THAT, THAT DEBT OVER A SHORTER TIMEFRAME, UM, TO, IN ORDER FOR US TO LIFT THAT RESTRICTION SOONER RUN, IT'S TIME FOR US TO START PUTTING AMENITIES ON TOP.
FOR PHASE TWO, WE'D RECOMMEND, UH, LOOKING AT, UH, FUTURE BOND ELECTION AS WELL AS CONTINUE TO APPLY FOR VARIOUS FEDERAL GRANTS.
UM, FOR PHASES THREE THROUGH FIVE, UM, LIKE MICHELLE NOTED, THERE'S A LOT MORE TIME FOR US TO BE GETTING, UH, REALLY INTO THE MEAT OF THAT, INTO THE DETAILS OF THE COSTS AND EXACT FEATURES.
WE, OF COURSE, HAVE THAT VISION, BUT, UM, HOW WE PHASE THAT THROUGH THE COSTS AND, AND EVERYTHING, WE HAVE A LITTLE BIT MORE FLEXIBILITY THERE.
UM, AND FOR THOSE THEN WE WOULD RECOMMEND LOOKING AT FUTURE BOND ELECTIONS, TAX INCREMENT FINANCING, UM, AND GROUND LEASE REVENUE.
THAT GROUND LEASE REVENUE IS IMPORTANT, UM, RELATIVE TO THE PHASE ONE CEO FUNDING RECOMMENDATION.
IF WE PAY THOSE CEOS OFF, UM, SOONER THAN OUR TYPICAL 20 YEAR REPAYMENT TIMELINE, THAT GIVES US THE ABILITY TO BRING IN THAT GROUND LEASE REVENUE, UH, ON THOSE AS PART OF THOSE SURFACE AMENITIES.
NOW, THERE'S A LOT OF DEBT BEING DISCUSSED HERE, SO WE DO NEED TO TAKE IN CONSIDERATION, UM, OUR OVERALL DEBT LEVELS, UM, ACROSS THE ORGANIZATION GOING FORWARD.
UM, WE'RE LOOKING AT, UM, NOT ONLY DEBT RELATED TO THIS PROJECT, BUT ALSO KNOWN ISSUANCES THAT ARE RELATED TO PRIOR BOND PROGRAMS, PRIOR CEOS, AND THE SORT AS WELL AS PROSPECTIVE 2026 BOND PROGRAM.
SO THERE ARE A LOT OF DIFFERENT, DIFFERENT, UM, PIECES AT PLAY HERE WHEN IT COMES TO OUR OVERALL DEBT PROFILE.
UH, ONE OF THE OTHER COMPONENTS THAT WE REALLY WILL WANT TO DIG INTO IS, IS PRIVATE FUNDING AND FUNDRAISING.
UM, HERE YOU SEE, UH, A MIX OF DIFFERENT PROJECTS, TWO OF WHICH FROM RA HERE IN THE STATE OF TEXAS WHERE FUND PRIVATE FUNDING WAS, WAS REALLY AN ESSENTIAL COMPONENT OF THE FUNDING STACK.
UM, FOR THE DALLAS EXAMPLE, UM, FOR SOUTHERN GATEWAY, THAT $28 MILLION AMOUNT ACCOUNTS FOR 70% OF THE, OF THE ESTIMATED COST FOR THE PROJECT.
UM, AND FOR THE CLYDE WARREN PROJECT, $50 MILLION ACCOUNTS FOR 47% OF THE TOTAL PROJECT COST.
SO WE, AS THE CITY OF AUSTIN, NEED TO BE LOOKING, UM, TO OUR, OUR COMMUNITY PARTNERS, UM, AND, AND, AND OTHER PRIVATE ENTITIES THAT WE CAN WORK WITH
[00:35:01]
COLLABORATIVELY TO HOPEFULLY ACHIEVE SIMILAR LEVELS OF, OF PHILANTHROPY THAT CAN GO TOWARDS THESE PROJECTS.SOME OTHER ITEMS FOR YOU TO TAKE INTO CONSIDERATION AS YOU MAKE A DETERMINATION ON, ON THE SCENARIO.
SO FIRST, THE GRANT COMMITMENTS, AS I NOTED BEFORE, C CHAVEZ TO FOURTH HAS THE FEDERAL GRANT COMPONENT.
UM, WE ARE REQUIRED TO COMPLETE THOSE ROADWAY ELEMENTS AND DECK BY 2031.
NOW, THERE'S ALSO COST UNCERTAINTIES AS WE MOVE FORWARD, AS ROBERT MENTIONED AT THE BEGINNING.
UM, OR WE WERE ORIGINALLY WORKING WITH COST ESTIMATES BASED ON SCHEMATIC DESIGNS.
WE'RE NOW AT THAT 30% COMPLETION RATE, AND YOU SAW HOW MUCH THE COSTS HAVE INCREASED, UM, ACCORDINGLY.
NOW AS WE MOVE FORWARD FROM 30% TO A HUNDRED PERCENT DESIGN, WE FULLY ANTICIPATE THAT THERE WILL BE OTHER COST CHANGES, UH, THAT COME TO LIGHT, UM, THAT WE JUST NEED TO BE PREPARED FOR.
TEXDOT, OF COURSE, IS DOING THEIR ABSOLUTE BEST TO KEEP THINGS IN CHECK, BUT IT'S, WE'RE WE CAN'T CONTROL EVERYTHING.
UM, ALSO FOR ANY ROADWAY ELEMENTS THAT WE COMMIT TO THIS IN DECEMBER, WE ARE LIABLE FOR ANY COST ESCALATIONS.
SO EVEN THOUGH WE HAVE ON ONE OF THE SLIDES IN THE PRESENTATION, THE BREAKDOWN OF THE PHASE ONE AND PHASE TWO COMPONENTS, UM, WE IF, IF THOSE NUMBERS DO CHANGE THAT WERE SUBJECT TO THOSE NEW NUMBERS, WE AREN'T, WE AREN'T GOING TO BE GRANDFATHERED IN TO THESE, THE NUMBERS YOU SAW TODAY.
AND ALSO, UM, DECK FUNDS ARE DUE IN 2026 VIA CHANGE ORDER OR 2032 THROUGH A NEW CONTRACT.
IF WE WAIT UNTIL 2032 TO DO A NEW CONTRACT WITH TXDOT, IT COULD MEAN EVEN FURTHER COST ESCALATIONS, UM, BECAUSE IT JUST, OF THE CHANGES IN THE MARKET, UM, AND THE SORT, UM, HOWEVER, IT DOES GIVE US TIME TO PERHAPS, UM, GIVE US MORE, UH, MORE VARIETY IN OUR CAPITAL STACK, UH, FOR, FOR PAYING FOR THIS OVERALL.
UH, FEW MORE THINGS TO THINK ABOUT.
SO THE DECISION TO FUND A HUNDRED PERCENT DESIGN THAT COMMITS US, THE CITY TO FUNDING CONSTRUCTION OF THOSE ELEMENTS.
IF WE'RE IN, WE ARE IN, UM, IT'S NOT LIKE A, WELL, WE'RE ALL LIKE, LET'S GO AHEAD AND, AND, AND SAY WE WANT TO DO THESE CERTAIN ROADWAY ELEMENTS, BUT THEN COME BACK SIX MONTHS LATER AND SAY, I, NEVERMIND.
WE'D ACTUALLY DON'T WANNA DO ROADWAY ELEMENTS AT THIS, AT THIS LOCATION.
IF WE, WHEN WE SAY WE'RE IN NEXT MONTH, WE ARE COMMITTED, UH, ALSO WITH THE, UM, THE SIX WITH THOSE CAPS, AS WE LOOK AT THOSE OPPORTUNITIES FOR PARTNERSHIPS FOR PHASES THREE THROUGH FIVE, UM, THAT IS A HUGE COMPONENT FOR US TO ACHIEVE THE ULTIMATE VISION.
ALSO IN ADDRESSING OPERATIONS AND MAINTENANCE EXPENSES, IF WE'RE NOT ABLE TO ESTABLISH THOSE PARTNERSHIPS OR ACHIEVE THAT PHILANTHROPY COMPONENT, IT DOES CREATE A LONG-TERM LIABILITY FOR THE CITY FROM A GENERAL FUND COMPONENT OR PERSPECTIVE.
UM, AND THEN IN TERMS OF, UH, OTHER LIMITATIONS, SO FUNDS ALLOCATED FOR THE CAPS, THEY DO, THEY WILL HAVE AN IMPACT ON OUR OVERALL CAPACITY OF, FOR DEBT RELATED TO 2026 BOND PRIORITIES AND VARIOUS OTHER NEEDS.
UM, THERE, THERE'S NO WAY OF, OF SEPARATING THINGS THESE THINGS OUT.
THEY ALL COME TOGETHER TO IMPACT OUR OVERALL DEBT, UH, PROFILE.
UM, ONE OF THE OTHER COMPONENTS I THINK ABOUT IS WITH CEOS, UM, AND A COMBINATION OF COS AND BOND ELECTIONS.
SO IF THE VOTERS WERE TO NOT APPROVE, APPROVE FUNDING FOR THIS, THESE PROJECTS IN A FUTURE BOND ELECTION, CURRENT LEGISLATION PREVENTS THE CITY FROM ISSUING ANY COS FOR OR ANY DEBT FOR THOSE PROJECTS FOR AT LEAST THREE YEARS.
IT HAS BEEN DISCUSSED IN PRIOR SESSIONS, UM, FOR THAT TO BE A FIVE-YEAR TIMEFRAME.
EVERY SESSION OVER THE LAST SEVERAL, THERE HAS BEEN LEGISLATION INTRODUCED AND, AND ACTION TAKEN ON CERTIFICATES OBLIGATION, THE NON-VOTER APPROVED DEBT.
UM, THEY'VE CONTINUED TO TIGHTEN THE REINS ON HOW THOSE, THOSE NON-VOTER APPROVED DEBT CAN BE USED.
UM, AND WE DON'T ANTICIPATE THAT WE'LL COME TO A, A CLOSE ANYTIME SOON.
UM, ALSO WHEN IT COMES TO OUR OPERATING BUDGET, AS YOU ARE ALL FULLY AWARE, UM, FROM THE BUDGET ADOPTION, UH, PROCESS THAT WE ARE, ARE ON OUR WAY, UM, TO HAVING TO DO A TRE AT SOME POINT IN THE, IN THE NOT TOO DISTANT FUTURE.
SO JUST SOMETHING ELSE TO KEEP INTO, UM, UH, CONSIDERATION.
BUT OTHER THAN ALL THAT, DO YOU HAVE ANY BAD NEWS? UH,
UM, SO REALLY GREAT TO SEE YOU TODAY,
YEAH, I'M HERE ALL WEEK FOLKS.
UM, UM,
[00:40:01]
NOTE THAT THE, THE FLEXIBILITY OF ONCA REVENUE RELATED TO COS BUT THAT'S WHERE WE WOULD PULL INTO THE MIX OF, UM, SPEEDING UP OUR DEBT SERVICE TIMELINE FOR THOSE, UM, FOR THAT PORTION OF THE DEBT TO BE ABLE TO GIVE, TO GIVE THAT FLEXIBILITY BACK.SO, UH, I'M DONE DREAM KILLING.
I'M GONNA HAND IT BACK TO MICHELLE TO, TO CLOSE THIS UP.
SO, UM, I'M SURE YOU ALL HAVE A LOT, A LOT OF QUESTIONS.
UM, BUT, UM, I JUST WANT TO WRAP UP BY JUST CLEARLY ARTICULATING THE ITEMS THAT YOU'RE GONNA SEE IN FRONT OF YOU ON 1212.
SO THE FIRST WILL BE, UM, AUTHORIZING AN A FA, UM, FOR A COMMITMENT TO FUND THOSE ROADWAY ELEMENTS THAT YOU DECIDE TO MOVE FORWARD WITH.
UM, AND THEN, UM, A RELATED A FA TO FUND 100% DESIGN, UM, OF THOSE SAME ROADWAY ELEMENTS, UM, AND DECK STRUCTURES ASSOCIATED WITH THEM.
UM, AND THEN AN ITEM TO ACCEPT OUR $41 MILLION SIB LOAN.
UM, AND THEN FINALLY, UM, AUTHORIZING, UM, UM, STAFF TO ENTER A GRANT AGREEMENT WITH FEDERAL HIGHWAYS FOR THAT $150 MILLION CESAR CHAVEZ PROJECT.
SO WITH THAT, THAT'S ALL WE HAVE.
YES, COUNCILMAN ELLIS, THANK YOU FOR THE RECOGNITION.
MAYOR, I'M GONNA, UH, TURN A LITTLE BIT, UM, I'VE ASKED A COUPLE OF QUESTIONS WITH STAFF ABOUT THE EAST AVENUE TRAIL.
ARE ANY OF THESE 800 FOOT CAP OPTIONS BETTER OR WORSE FOR THE EAST AVENUE TRAIL IN YOUR PERSPECTIVE? OR ARE THEY ALL GREAT FOR THE EAST AVENUE TRAIL? UM, I, I WOULD SAY THAT THOSE ARE TWO INITIATIVES THAT COULD MOVE FORWARD EITHER WAY.
UM, IT JUST MEANS THAT AS, SO THE EAST AVENUE TRAIL WOULD NOT BE PRECLUDED IF WE MOVE FORWARD WITH THE 800 FOOT OPTION.
IT WILL JUST MEAN YOU HAVE LESS CAP ADJACENT TO YOU AS YOU TRAVEL ALONG IT.
AND SO ARE THERE COST ESTIMATES THUS FAR FOR THE EAST AVENUE TRAIL? DO WE KNOW WHAT THOSE BETTERMENTS ARE GOING TO BE? MY UNDERSTANDING IS THAT TDOT CAN BUILD SO FAR AND WITH SO MANY IMPROVEMENTS, BUT IF THE CITY WANTS TO SEE BETTER AND GREATER IMPROVEMENTS FOR USABILITY, UM, DO WE KNOW WHAT THOSE COSTS ARE GOING TO BE? UM, NOT YET.
COUNCIL MEMBER, WE WILL BE KIND OF DIVING INTO THOSE DESIGN DETAILS AND ASSOCIATED COST ESTIMATES IN, UM, EARLY 25 WITH TEXT DOTS.
AND WOULD THOSE DETERMINATIONS NEED TO BE MADE IN 25 OR WOULD THAT BE WITH THE 2026 PHASE THAT I ASSUME TO BE PART OF TECH DOT'S? UM, INITIAL BID PACKAGE WOULD NEED TO BE MADE SOONER THAN 2026, BUT I WOULD HAVE TO CHECK IN WITH MY TECH DOT COLLEAGUES.
AND I MAY HAVE MISSPOKE, UM, ACTUALLY ON, ON AN ANSWER TO YOUR QUESTION, UM, WHERE WE, UH, ARE POTENTIALLY CONSTRAINED IN TERMS OF TRAIL WIDTH, HAVING A CAP NEXT TO YOU DOES ACTUALLY PROVIDE A LITTLE BIT MORE SPACE FOR THAT TRAIL TO WIDEN OUT ONTO THE CAP.
WE DON'T KNOW WHERE THOSE AREAS ARE YET.
COUNCIL MEMBER, IT'S GONNA TAKE A LITTLE BIT OF KIND OF PENCIL AND PAPER TIME.
UM, BUT THAT IS ONE UPSIDE OF, OF HAVING MORE CONTINUOUS CAP IS IF THE TRAIL DOES NEED TO SPILL OVER AND HAVE MORE WITH YOU, HAVE THAT LAND AVAILABLE TO YOU.
THANK YOU FOR THAT INFORMATION.
FOLLOW ALONG THE EAST AVENUE TRAIL, WHERE CAN WE FIND THAT IT IS IN THE VISION PLAN? I CAN GET YOU A PAGE NUMBER, BUT LIKE WHICH CAP ON WHICH IT RUNS THE LENGTH OF I 35 THE ENTIRE.
SO IT WOULD BE ADJACENT TO A FEW OF THE CAPS.
HOW DO THESE ESTIMATES ACCOUNT FOR COST CHANGES AS THE YEARS GO ON AND THINKING OF WAGE INCREASES INFLATION, THE POTENTIAL FOR DIFFERENT MATERIAL TARIFFS, I KNOW HAVE BEEN DISCUSSED IN THE NEWS.
WHEN WE DO BONDING, TYPICALLY WE END UP SOMETIMES IN SITUATIONS WHERE YOU GET SIX OR EIGHT YEARS DOWN THE ROAD AND SOME OF THE COSTS CHANGE.
CAN YOU TELL ME ABOUT HOW, HOW SOLID THESE ESTIMATES ARE OR IF THEY WILL NEED TO BE FLEXIBLE AS WE MOVE FORWARD? YEAH, I APPRECIATE THAT.
UM, THERE IS SOME CONTINGENCY BUILT INTO THE ESTIMATES.
UM, I'M JUST MESSAGING MY TEAM TO FIGURE OUT WHAT THAT, UM, PERCENTAGE AMOUNT IS.
UM, BUT THAT WOULD HOPEFULLY COVER OUR ESCALATION AND, AND CHANGES TO, UM, UM, COST, COST SYSTEMS MOVING FORWARD.
SO I'LL FIND OUT THAT AMOUNT AND GET IT TO YOU, BUT THERE IS SOME BAKED IN.
I'D LOVE TO KNOW THAT AND YOU CAN SEND THAT TO ME LATER ON IF NEEDED.
UM, I KNOW THAT AS, AS THESE LONG-TERM CONTRACTS PLAY OUT, ESPECIALLY WITH THE PART THAT THE CITY IS GOING TO NEED TO FUND, UM, WE WANNA MAKE SURE THAT OUR WORKERS ARE GETTING THE NECESSARY PAY INCREASES THAT WE WOULD SEE IF PEOPLE WERE STARTING PROJECTS NEW.
SO I KNOW THAT'S NOT SOMETHING THAT'S A NEW CONVERSATION TO TRANSPORTATION PUBLIC WORKS, BUT I WANNA MAKE SURE THAT WE'RE, WE ARE STRUCTURING THIS IN A WAY WHERE WE LIMIT THE SURPRISES THAT FUTURES COUNCILS HAVE TO DEAL WITH.
[00:45:01]
CAN STAFF PROVIDE COST ESTIMATES FOR PHASES FOUR AND FIVE FOR EACH OF THE SEGMENTS? I SEE THAT IN YOUR CHARTS.IF YOU LOOK AT SLIDE 14, UM, IT, IT DOES HAVE, UH, FOR EACH OF THE INDIVIDUALS, UM, STITCHES.
SO I MEAN, I CAN DO THE MATH REAL QUICK ON WHAT, HOW THAT CALCULATES FOR SCENARIO THREE.
UM, FOR THE, FOR THE SCENARIOS, SORRY.
OH, FOR THE, EACH OF THE SCENARIOS? YEAH, I MISSPOKE.
NOT THE PHASES, THE SCENARIOS.
WE COULD PULL THAT INFORMATION TOGETHER FOR YOU COUNCIL MEMBER AND, AND FOLLOW UP IF THAT WOULD WORK.
YEAH, I KNOW ON SOME WHERE YOU GET INTO THE SPECIFICS OF THE 800 FOOT CAPS, IT SAYS PHASE ONE, PHASE TWO, PHASE THREE, AND THEN IT JUST SAYS TOTAL.
UM, IT REQUIRES A LITTLE BIT MORE MATH THAN I'M ABLE TO DO IN MY HEAD RIGHT HERE ON THE SPOT, BUT WE CAN, UM, IT SHOULDN'T BE TOO MUCH IN AN EFFORT TO GET YOU THAT NUMBER.
AND I DID LOOK AT SLIDE 14 WITH THE OPERATIONS AND MAINTENANCE COSTS, AND I THINK MAYBE I CAN JUST GO THROUGH THAT WITH YOU OFFLINE UNDERSTANDING, LIKE EXACTLY, IS THAT ALL PHASES AND IF WE ONLY GET TO PHASE THREE, WHAT DOES THAT LOOK LIKE? BUT I DON'T THINK WE NEED TO SORT OUT THOSE NUMBERS RIGHT HERE IN THIS MOMENT.
UM, I WILL CLOSE MY COMMENTS JUST BY SAYING, I KNOW THERE'S BEEN A LOT OF CONCERNS IN THE COMMUNITY ABOUT THE EXACT FISCAL IMPACT ON THESE, OBVIOUSLY VOTERS IN AUSTIN AND RESIDENTS IN AUSTIN CARE ABOUT, UM, ENVIRONMENTAL QUALITY A LOT.
I MEAN, WE JUST SAT THROUGH A FEW HOURS OF PEOPLE PROVIDING PUBLIC COMMENTARY TO MAKE SURE THAT WE DIDN'T HAVE ADDITIONAL EMISSIONS AS WE MOVE FORWARD WITH OUR CLIMATE PLANNING AND OUR AUSTIN ENERGY UTILITY.
AND SO I WANNA MAKE SURE AS WE'RE DOING ROAD PLANNING, THAT WE'RE NOT COUNTERING THOSE GOALS OF TRYING TO MAKE SURE WE'RE SETTING OURSELVES UP FOR A SUSTAINABLE FUTURE.
AND I KNOW THERE'S GONNA BE A LOT OF HEARTBURN ABOUT THE PRICE TAG OF THIS IF WE END UP NEEDING TO TALK ABOUT GEO BONDS AND HOW TO FINANCE THIS MOVING FORWARD.
IT HAS BEEN STATED BY STAFF THAT WE'RE GONNA HAVE TO LOOK AT WHAT PARKS OR LIBRARY IMPROVEMENTS OR ADDITIONAL FIRE STATIONS MIGHT HAVE TO BE PUSHED DOWN THE ROAD.
AND I KNOW THAT THAT IS NOT WHAT OUR, OUR CONSTITUENTS WANT FROM US.
AND SO I WANNA BE VERY MINDFUL AS WE MOVE FORWARD.
THERE'S A LOT OF PEOPLE THAT SEE THIS AS MITIGATION FOR A PROJECT THAT, UM, SHOULD HAVE HAD LESS IMPACTS TO BEGIN WITH.
AND SO I WANNA BE MINDFUL AS WE TALK ABOUT WHAT VOTERS DO AND DON'T WANT, UM, WE CAN'T JUST EXPECT OUR VOTERS TO SUPPORT OUR TRANSPORTATION BONDS AND THEN NOT BE DELIVERING PROJECTS THAT ARE ULTIMATELY MORE SUSTAINABLE AND BETTER FOR THE ENVIRONMENT.
SO I'LL BE THINKING ABOUT THOSE AS WE MOVE FORWARD.
BUT APPRECIATE GETTING INTO THE LEVEL OF DETAIL THAT YOU DID TODAY, AND I'M GLAD WE'RE FINALLY AT A, A, A PLACE OF GETTING TO NITPICK EXACTLY WHAT WE WANNA SEE AND WHAT ARE THE BEST CHOICES FOR OUR RESIDENTS.
COUNCIL MEMBER BAYLA, FBE, COUNCIL MEMBER CODRE.
UH, THANK YOU VERY MUCH, MAYOR.
I JUST WANT TO BE CLEAR ABOUT THE DECISION THAT WE'RE, WE'RE, WE'RE MAKING RIGHT NOW.
AND I THINK YOU, THAT LAST SLIDE DID IT.
BUT RIGHT NOW WE'RE TALKING ABOUT THE FOUNDATIONAL ELEMENTS, THE ROADWAY ELEMENTS TO, UM, MAKE FUTURE CAPS POSSIBLE.
UH, IS THAT, IS THAT CORRECT? IS THAT'S WHERE WE'RE AT RIGHT NOW? THAT'S CORRECT.
UM, SO WHERE ROADWAY ELEMENTS ARE FUNDED, UM, CAP DECK AND AMENITIES CAN EVENTUALLY BE PHASED IN, IN FUTURE WHERE, UM, YOU DECIDE TO NOT FUND ROADWAY ELEMENTS.
UM, THERE CAN BE NO CAPS AT THAT LOCATION.
UM, THOSE LOCATIONS ARE EFFECTIVELY OFF THE TABLE.
AND, AND THAT'S MY, MY CONCERN AT THIS POINT IS THAT I'M NOT A HUNDRED PERCENT SURE WHAT WILL BE ULTIMATELY THE EXTENT OF OUR HIGHWAY CAP BUILDING, BUT I WOULD, AND WHAT THE TIMEFRAME OF THAT CAP BUILDING WOULD BE.
BUT I WOULD HATE TO PRECLUDE THE BUILDING OF HIGHWAY CAPS THAT COULD BE VERY BENEFICIAL FOR THE QUALITY OF LIFE FOR FUTURE PROPERTY TAX REVENUES AT THIS POINT.
SO AGAIN, I, I DON'T THINK THAT EVEN, FOR EXAMPLE, IF WE DECIDE, OKAY, WE WANT TO BUILD ALL THE FOUNDATIONAL ELEMENTS, I, I DON'T THINK THAT THAT MEANS WE'RE NECESSARILY GONNA BUILD ALL THOSE CALVES BY 2032 OR WHATEVER THE CASE MAY BE.
BUT I WOULD JUST HATE TO HAVE A COUNCIL COME IN 20 40, 20 45 TO SAY LIKE, OH, I WISH THEY WOULD HAVE PUT THOSE FOUNDATIONAL ELEMENTS IN BECAUSE WE WOULD BUILD THAT CAP TODAY.
SO, SO I JUST WANTED TO KIND OF PUT THAT OUT FRONT THAT THAT'S REALLY DRIVING, UM, A A A LOT OF MY, UH, THINKING ON THIS.
UM, LOOKING AT THE, THE COST, UM, PARTICULARLY FOR THE NORTHERN CAP, WE SEE THE, THE 38TH TO, UH, UH, 41ST,
[00:50:01]
UH, THE ROADWAY ELEMENTS GOING FROM $37 MILLION TO $65 MILLION, AND THEN FROM 41ST TO THE RED LINE, WE SEE IT GOING FROM $33 MILLION TO, UH, $60 MILLION.UM, WHY DID THOSE COSTS INCREASE SO MUCH? THAT'S, IT'S NEARLY A DOUBLING MM-HMM,
SO, UM, AS WE'VE MOVED FORWARD, UM, FROM THE SCHEMATIC LEVEL TO THE 30% DESIGN LEVEL, UM, WE'VE, WE'VE GOTTEN SOME MORE SPECIFICITY REGARDING THE VENTILATION SYSTEMS THAT HAVE TO BE REQUIRED, THE FIRE LIFE SAFETY SYSTEMS, UM, THE HAZMAT CATCHMENT, THE ILLUMINATION IN THOSE TUNNELS, FOR EXAMPLE.
WELL, WELL, LET ME, LET ME STOP YOU.
'CAUSE THOSE COSTS HAVE INCREASED TOO.
UH, AND THAT IS, WE'RE NOT YET TALKING ABOUT THE FIRE SUPPRESSION SYSTEMS AND THE VENTILATION AND ALL THAT.
WE'RE JUST TALKING ABOUT THE CONCRETE AND THE REBAR AND THE DESIGN AND ALL THAT KIND OF STUFF LIKE THAT.
UM, AND, AND AGAIN, THOSE WERE BIG JUMPS AS WELL.
ANY SENSE OF THE DETAILS ON THAT, ON THAT ELEMENT IN PARTICULAR? YEAH, I'D HAVE TO DIG IN A LITTLE BIT WITH MY TECH DOT COLLEAGUES TO FIGURE OUT WHAT'S DRIVING THAT CHANGE COUNCIL MEMBER.
BUT THESE NUMBERS ARE COMING FROM TECH DOT.
SO THESE ARE JUST BEING PASSED THROUGH TO THAT'S CORRECT.
HAS THE CITY DONE ANY INDEPENDENT VETTING OF, OF THESE NUMBERS IN TERMS OF, YOU KNOW, WE AGREE WITH THOSE COSTS, OR WE THINK IT'S CHEAPER, OR, YOU KNOW, HAVE WE DONE ANY INDEPENDENT ANALYSIS OF THE, OF THE ROADWAY ELEMENTS COSTS? UH, NO.
COUNCIL MEMBER, WE HAVE, UM, OUR TEAM HAS PROVIDED ESTIMATES FOR THE AMENITIES ON TOP.
UM, BUT WE HAVE NOT CONDUCTED, UM, AN INDEPENDENT, UH, VETTING OF THE TECH STOCK COST ESTIMATES.
UH, THAT, THAT MIGHT BE WORTH, UH, UH, GIVING A A A ONCE OVER.
UM, FOR THE, YOU KNOW, ONE OF THE WAYS THAT WE COULD POTENTIALLY PAY FOR THIS PROJECT WOULD BE THE, THE A TURS OR A A A TIFF WHERE BASICALLY WE'RE CAPTURING THE ADDITIONAL VALUE THAT THE CAPS PROVIDE TO THE AREA AROUND IT.
AND THEN USING THOSE PROPERTY TAXES, THOSE INCREASED PROPERTY TAXES TO, TO, TO PAY FOR IT.
UM, DO WE HAVE ANY, AT LEAST PUBLICLY AVAILABLE ESTIMATES OF WHAT, UH, A A TS OR A A, A TIFF WOULD, UH, GENERATE? AT THIS POINT, WE DON'T HAVE IT PUBLICLY AVAILABLE.
WE'RE, WE'RE DOING SOME KIND OF FINAL REVIEWS AND EVERYTHING OF THE, OF THE ANALYSIS THAT OUR CONSULTANT HAS DONE FOR US.
AND WHAT, DO YOU KNOW WHAT LEVEL OF DEVELOPMENT THE CONSULTANT IS, UH, ESTIMATING IN TERMS OF THE SIZE AND SCOPE OF THE, OF THE BUILDINGS AROUND THE CAPS? UH, SO THERE, THERE'S A RANGE IN FAR, UM, BETWEEN TWO AND 3.0.
UM, SO IT'S, IT, WHEN YOU'RE DOING A TERMS ANALYSIS, UM, YOU, YOU HAVE TO JUST, IT'S, IT WORKS MUCH BETTER WHEN YOU'RE DOING THE RANGES AND OVERALL ABSORPTION CAPABILITIES OF AREAS FROM A MARKET PERSPECTIVE.
SO, UM, WE DON'T NECESSARILY HAVE A, WELL, THIS, THIS SPOT WOULD BE X FEET AND, AND SO ON, SO YOU HAVE TO, BECAUSE THERE'S, THERE'S GONNA BE SO MUCH VARIATION.
WELL, BUT MY THINKING WOULD BE MORE, 'CAUSE I MEAN, FAR DEPENDS ON, AGAIN, HOW HIGH, UH, YOU CAN GO.
AND SO, UH, AND, AND AGAIN, THINKING ABOUT THESE AREAS, I, I THINK ABOUT, FOR EXAMPLE, A CONCORDIA, YOU KNOW, CONCORDIA I BELIEVE HAS THE FORMER LUTHERAN CONCORDIA THERE ALONG LIKE, YOU KNOW, 30TH, UH, IN RED RIVER, 32ND AND RED RIVER.
SO, UH, THEY HAVE, UH, EIGHT STORY BUILDINGS ALREADY.
AND THAT WAS BUILT 15 YEARS AGO.
MUELLER HAS, UH, I BELIEVE EIGHT STORY, MAYBE TALLER THAN EIGHT STORY.
I'M TRYING TO THINK OF WHAT THE TALLEST BUILDING IN MUELLER IS RIGHT NOW.
BUT A A POINT BEING THAT WE HAVE ALREADY SEEN, YOU KNOW, RELATIVELY TALL BUILDINGS GOING UP, UH, IN OTHER PARTS OF TOWN.
I MEAN, THE DOMAIN, I THINK WE'RE UP TO 15 STORIES, UH, ON, ON THIS NEXT, UH, UH, UH, ZONING AGENDA.
I HAVE A PROJECT ON THE CORNER OF AIRPORT IN LAMAR THAT'S ASKING FOR 150 FEET.
WE'VE GOT THE ANDERSON SQUARE LOCATION THAT'S ASKING FOR 200 SOME ODD FEET.
IN OTHER WORDS, THE PROPERTY TAX REVENUE THAT WE'RE ESTIMATING IS GONNA BE CONTINGENT ON WHAT WE ALLOW TO BE BUILT.
[00:55:01]
I'M SPECIFICALLY THINKING ABOUT THE DELWOOD AND THE HANCOCK SHOPPING CENTERS.UM, EH, DO WE KNOW WHAT THE, THE, THE HEIGHT LIMITATIONS ARE, OR WHAT THE HEIGHT EXPECTATIONS ARE FOR THOSE TWO AREAS? UM, I THINK, WE'LL, WE CAN HAVE THAT INFORMATION AVAILABLE FOR YOU LATER THIS WEEK, UM, MOST LIKELY.
BUT I, I THINK IT'S ALSO IMPORTANT TO NOTE, UM, THAT WHEN IT COMES TO THE TUR FUNDING, THE ANTICIPATED USE OF THAT WOULD BE FOR THOSE PHASE THREE THROUGH FIVE ELEMENTS, NOT THE ROADWAY ELEMENTS OR THE, THE, UM, THE CAP STRUCTURES.
UM, SO THAT IS MUCH FURTHER DOWN THE ROAD.
UM, AND ALSO RELATIVE TO MILLER, UM, THE MILLER TOWN CENTER, WHERE YOU HAVE THE HIGHEST IS, UM, IT'S STILL, IT'S BELOW THREE FAR MM-HMM.
SO AS WE LOOK AT THAT RANGE OF TWO TO THREE FOR THESE AREAS, IT'S, IT HAS SIMILARITIES TO SURROUNDING AREAS.
BUT I, I GUESS AGAIN, MY SENSE OF IT WOULD BE THAT, AND, AND, AND AGAIN, FROM A, UH, FROM A FINANCIAL PERSPECTIVE, IF WE'RE TALKING ABOUT CAPPING THESE AREAS AND PUTTING SIX STORY BUILDINGS ON THEM, I'M NOT SURE IT MAKES FINANCIAL SENSE.
I MEAN, IN TERMS OF THE, ULTIMATELY THE TOURS AND THE REVENUE THAT THE TOURS WOULD GENERATE IS GONNA BE CAPPED BECAUSE THESE BUILDINGS ARE GONNA BE ONLY SO HIGH AND THEY'RE ONLY GONNA GENERATE SO MUCH PROPERTY TAX.
TO ME, AGAIN, THINKING ABOUT DOING THIS AND DOING IT IN A FISCALLY RESPONSIBLE WAY, UH, IF WE'RE TALKING ABOUT 20 STORY BUILDINGS, UH, AT, YOU KNOW, HANCOCK AT DELWOOD, THAT'S A COMPLETELY AND TOTALLY DIFFERENT ECONOMIC MODEL.
THAT'S A COMPLETELY, TOTALLY DIFFERENT SCALE OF, UH, PROPERTY TAX GENERATION.
UH, AND THINKING ABOUT IT, AGAIN, JUST KIND OF CONCEPTUALLY THINKING ABOUT IT, UH, YOU KNOW, EVEN IF WE TAP IT, THERE'S STILL GONNA BE A LOT OF VEHICULAR TRAFFIC THROUGH THERE.
THE ACCESS ROADS ARE GONNA BE SUBSTANTIAL.
UH, MY SENSE WOULD BE THE TALL BUILDING SURROUNDING THESE PROPERTIES WOULD ESSENTIALLY ACT AS A, AS A BUFFER, YOU KNOW, AS A SHIELD BASICALLY BETWEEN, YOU KNOW, THE HIGHWAY, THE, THE VEHICULAR TRAFFIC, AND, UH, AND THEN, YOU KNOW, THE AREAS AROUND IT, THE NEIGHBORHOODS AROUND IT.
NOT ONLY THAT, BUT IF YOU PUT LARGE BUILDINGS THERE WITH LOTS OF PEOPLE, AGAIN, WHETHER THEY BE A, YOU KNOW, A HOTEL OR A RESIDENTIAL TOWER OR WHATEVER THE CASE MAY BE, THEN THOSE ARE THE PEOPLE THAT ARE GONNA BE GOING TO THE CAPS AND ENJOYING THE AMENITIES ON THE CAPS.
AND SO YOU, YOU CREATE THAT BENEVOLENT CYCLE.
SO I, I, I THINK JUST AS WE'RE, WE'RE, WE'RE LOOKING FORWARD AT THIS, UM, I, I, I THINK WE HAVE TO BE AMBITIOUS ABOUT WHAT WE ENVISION IN THE AREAS, UH, SURROUNDING THE CAPS, UH, PARTICULARLY, UH, NOT JUST FOR KIND OF QUALITY OF LIFE AND, AND, AND CITYSCAPE PURPOSES, BUT PARTICULARLY I THINK FOR THE PROPERTY TAX, UH, UH, GENERATION, UH, PURPOSES.
AND FOR, UH, FOR PAYING FOR THOSE, UH, THOSE CAPS, UH, AND AMENITIES.
UM, I, I, I'LL BE VERY CURIOUS TO SEE WHAT THE, UH, ANALYSIS SHOWS AND, AND, AND WHAT THE, UH, UH, WHAT THE, UH, ESTIMATES ARE FOR THE, THE TYPE AND SIZE OF THE BUILDINGS THAT THAT CAN BE BUILT THERE.
UM, SO ON THE NORTHERN CAPS, THE, UH, RED LINE RUNS RIGHT THROUGH THAT AREA.
UM, HAS THERE BEEN ANY CONVERSATIONS ABOUT A FUTURE TRANSIT STOP AT, UH, THE, THE RED LINE AND, AND I 35 RIGHT THERE? UM, YEAH, THAT'S A QUESTION THAT WE'VE HEARD, UM, A LOT OF, UH, COMMUNITY INTEREST IN.
UM, WE'VE NOT HAD A DIRECT CONVERSATION WITH CAP METRO ABOUT THE POTENTIAL VIABILITY OF, UH, A STOP OR A STATION, UM, AT THAT LOCATION.
BUT, UM, UH, I, I THINK, UM, THEY'RE AWARE THAT THERE'S, IT PUT COMMUNITY INTEREST IN, IN THAT, UM, AND THAT, UM, THAT IS A CONVERSATION TO HAVE.
AND I APPRECIATE THAT, AND I'VE DISCUSSED IT WITH CAPITAL METRO STAFF, AND, AND AGAIN, THERE'S WE'RE MANY STEPS FROM THERE, RIGHT? WE GOTTA DOUBLE TRACK IT FIRST.
UH, BUT THERE IS THAT POTENTIAL FOR A TOD ORIENTED DEVELOPMENT, SPECIFICALLY AT, UH, RED LINE, UH, WHERE THE RED LINE CROSSES 35.
AND, AND AGAIN, JUST FROM KIND OF THE BIRD'S EYE VIEW, IT SURE LOOKS LIKE IT WOULD BE A GREAT SPOT, UH, FOR A, UH, A TRANSIT, UH, ORIENTED, UH, DEVELOPMENT.
UM, FINALLY THINKING ABOUT THE, THE, THE 800 FOOT CAPS, UM, GOD, I, I FEEL LIKE WE'RE BEING PENNY WISE AND POUND FOOLISH ON A, A 800 FOOT CAPS.
UH, I, I VISITED THE, THE PHOENIX, UH, CAPS.
[01:00:01]
LARGE CAP GOING THROUGH, UH, UH, COVERING I 10 ON PHOENIX.THEIR PUBLIC LIBRARY IS RIGHT NEXT TO IT.
IT'S A, YOU KNOW, BIG, UH, NICE, UH, PARK THERE.
UM, AND THE DIFFERENCE BETWEEN STANDING KIND OF ON THE EDGE OF THE CAP AND STANDING ON THE MIDDLE OF THE CAP IS SUBSTANTIAL.
UH, IF WE HAVE DALLAS IS, IS SIMILAR.
I MEAN, I, I'VE BEEN TO THE CLA WARREN, UH, PARK, AND AGAIN, YOU KNOW, AS YOU KIND OF MOVE INTO THE MIDDLE OF THE CAP, YOU REALLY HAVE NO IDEA THAT YOU'RE EVEN STANDING ABOVE A HIGHWAY.
I'M NOT SURE THOSE 800 FOOT STRETCHES QUITE GET US THERE.
I THINK WE'RE KIND OF DEALING WITH THE SAME SITUATION IN TERMS OF THE STITCHES WHERE I JUST DON'T SEE THOSE, YOU KNOW, 300 FOOT STITCHES OR, YOU KNOW, THE 800 FOOT.
I, I, I THINK THAT FULL CAP REALLY DOES CAPTURE THE BENEFITS, BOTH IN TERMS OF THE LIGHT POLLUTION.
YOU HAVE LESS LIGHT POLLUTION, YOU HAVE LESS SOUND POLLUTION.
OBVIOUSLY THE, THE AIR POLLUTION IS ALSO BLOCKED TO A CERTAIN EXTENT.
OBVIOUSLY IT COMES OUT THE SIDES, BUT AT LEAST IT'S NOT IN THE MIDDLE OF THE CAP, UH, WHERE, YOU KNOW, THE, UH, A LOT OF, UH, THE ACTIVITIES ARE.
AND ANYWAY, I JUST WANTED TO GIVE THAT, THAT KIND OF QUICK, UH, FEEDBACK IN TERMS OF, UH, IN TERMS OF, UH, IF WE'RE GONNA GO THROUGH THE TROUBLE OF, YOU KNOW, DOING THIS, MY SENSE WOULD BE TO GO AHEAD AND DO FULL CAPS AND, AND, AND DO IT.
THAT SAID, IF WE DECIDE TO BUILD THE FOUNDATIONAL ELEMENTS, LET'S SAY WE DECIDE TO BUILD ALL THE FOUNDATION ELEMENTS, WE COULD STILL DECIDE TO JUST BUILD AN 800 FOOT CAP DOWN THE ROAD.
IS, IS THAT, IS THAT CORRECT? UM, I BELIEVE THAT'S CORRECT.
UM, ACTU, UH, MY TEXT DOT COLLEAGUE IS NODDING AT ME,
AND ACTUALLY IT JUST STRUCK ME THAT, UM, WITH TEXTILE IN THE ROOM, THEY COULD COME AND HELP