* This transcript was created by voice-to-text technology. The transcript has not been edited for errors or omissions, it is for reference only and is not the official minutes of the meeting. [00:00:03] OKAY. [CALL TO ORDER] ALL RIGHT. AFTERNOON EVERYBODY. AND IT LOOKS LIKE WE DO HAVE QUORUM. NICOLE, YOU CAN CONFIRM THAT? YES, SIR. OKAY. TWO, TWO. AND, UH, I'M GONNA CHANGE A COUPLE OF THINGS HERE. ONE OF THE THINGS WE'RE GONNA DO IS WE'RE GONNA HAVE THE TWO BRIEFINGS THAT WE'RE GETTING ARE GONNA BE REVERSED TODAY, SO NOT, SO YOU WON'T BE TOO SURPRISED BY THAT. AND THE OTHER THING IS, WE HAVE ANOTHER NEW MEMBER, HE WAS HERE LAST TIME, BUT BOB , YOU WANT TO INTRODUCE YOURSELF, PLEASE? SURE, YEAH. HAPPY TO BE HERE. I'M BOB LEBEL, UM, COUNCIL MEMBER SIEGELS, UH, APPOINTEE. I'VE, YEAH. HAPPY TO BE HERE. UM, THAT'S A LITTLE BIT OF A LEARNING CURVE FOR ME. MY DAY JOB IS IN, I WORK FOR AN ADVOCACY ORGANIZATION ON CRIMINAL JUSTICE REFORM, BUT I'VE BEEN, UH, VERY HAPPY TO BE A PART OF THIS COMMITTEE SO FAR, AND LOOKING FORWARD TO WORKING WITH YOU'ALL ON THIS. THANKS. AND I'M JOHN MCNABB. I'M CURRENT CHAIR. CHARLES CURRY IS THE VICE CHAIR ROMERO. INTRODUCE YOURSELF. YEAH. UH, RAM I HERE AGAIN, ALMOST REPRESENTING. YES. CAN YOU PUT YOUR MIC ON PLEASE? I'M SORRY. WAS YOUR MIC ON? OH, SORRY. SORRY. YEAH, SORRY. THANK YOU SO MUCH. . UH, HI, UH, KEN STANLEY, DISTRICT FOUR. I'VE BEEN HERE FOR JUST OVER A YEAR. OKAY. YEAH. INTRODUCE YOURSELVES OUT FROM THE, UH, THE VIDEO. I'LL GO FIRST. I'M UNMUTED. UH, STEFAN GONZALEZ. I REPRESENT DISTRICT NINE. I BELIEVE THAT THIS IS GOING INTO MY THIRD YEAR ON THE, UH, ON OVERSIGHT COMMISSION. YEAH. AND I AM JC DWYER. I'M FROM DISTRICT EIGHT, AND I JOINED UP AT THE SAME TIME AS KEN ABOUT A YEAR AGO. OKAY. WELL, GLAD EVERYBODY'S HERE. AND WE HAVE A LOT OF VISITORS TODAY FOR SOME REASON. . ANY RATE, LET'S, UH, DO WE HAVE ANYBODY SIGNED UP FOR PUBLIC COMMUNICATIONS? UH, NO. NO PUBLIC COMMUNICATION. OKAY. THEN I'LL ENTERTAIN [1. Approval of the minutes of the Regular meeting of the Bond Oversight Commission on May 21, 2025. ] A MOTION TO APPROVE THE MINUTES FROM THE LAST, LAST GATHERING. THEY'RE SHORT AND SWEET. I MOTION TO APPROVE. SECOND. THANK YOU. ALL IN FAVOR? AYE. AYE. THANK YOU. THANK YOU. HUH? WE GOT ANOTHER ONE. SANTIAGO MADE IT. HEY, HOW'S IT GOING? GOOD. YOU GOOD? DOING WELL, THANKS. WE GOT A FULL HOUSE. ALL RIGHT. BUT NOBODY SIGNED UP, SO WE'VE GOT THOSE DONE. SO I THINK RIGHT NOW WE'RE [3. Staff briefing on the Annual Bond Sale by Financial Services Department ] READY FOR THE STAFF BRIEFING ON THE ANNUAL BOND SALE BY THE FINANCIAL SERVICES DEPARTMENT. AGAIN, , SOME SPACE. . THIS IS ALWAYS A MYSTERY TO ME. . GOOD AFTERNOON, CHAIR AND COMMISSIONERS. UM, I'M BELINDA WEAVER. I'M THE CITY TREASURER, AND WITH ME TODAY I HAVE JOEY KELLER. HE IS OUR DIVISION CHIEF IN TREASURY OVER DEBT MANAGEMENT WITH THE CITY. AND WE'RE HERE TO PRESENT THE ANNUAL GENERAL OBLIGATION BOND SALE. SO TO START OFF WITH, WE'LL, UM, DISCUSS THE CITY'S PROPERTY TAX RATE SINCE IT IS WHAT IT PAYS PREDOMINANTLY. UM, THE CITY'S GENERAL OBLIGATION DEBT, THE CITY'S PROPERTY TAX RATE IS COMPRISED OF TWO PORTIONS. IT'S THE OPERATION AND MAINTENANCE PORTION AND THE DEBT SERVICE PORTION. THE OPERATION AND MAINTENANCE, OR O AND M AS WE CALL IT, FUNDS THE GENERAL FUND. IT ALSO FUNDS PROJECT CONNECT, WHICH WAS A 2020 TAX RATE ELECTION APPROVED BY THE VOTERS. THE OTHER PORTION, THE DEBT SERVICE TAX RATE FUNDS, THE DEBT SERVICE COMING DUE IN THE FOLLOWING FISCAL YEAR. UM, THE DEBT SERVICE, TAX RATE FUNDS, DEBT SERVICE FOR PREVIOUSLY ISSUED DEBT. SO THE DEBT THAT'S CURRENTLY ON OUR BOOKS, AND ALSO THE DEBT THAT'S EXPECTED TO BE ISSUED IN THE SEPTEMBER BOND SALE THAT WE'RE HERE TO DISCUSS. AND SO WE DON'T HAVE THE FISCAL YEAR 26 TAX RATE BUDGET'S STILL IN DEVELOPMENT. THE FISCAL YEAR 25 TAX RATE WAS, UH, OR IS 47.76 CENTS, OF WHICH 9.61 CENTS IS THE DEBT TAX RATE. AND O AND M IS AT 38.15. SO A LITTLE BIT OF INFORMATION ON OUR GENERAL OBLIGATION DEBT. UM, WE ARE CURRENTLY AT 1.895 BILLION IN OUTSTANDING GENERAL OBLIGATION DEBT. THAT IS, AGAIN, DEBT ON OUR BOOKS. OUR GEO DEBT IS ISSUED ONCE PER YEAR, AND AGAIN, IT'S BACKED BY THE FULL FAITH AND CREDIT OF THE CITY OR THOSE AVALOR PROPERTY TAXES. UM, THERE ARE THREE TYPES OF GENERAL OBLIGATION DEBT THAT THE CITY DOES ISSUE. IT IS FIRST, UH, [00:05:01] PUBLIC IMPROVEMENT BONDS. THOSE FUND CAPITAL IMPROVEMENT PROJECTS AND CAPITAL ASSETS. THOSE ARE THE VOTER AUTHORIZED BONDS. UM, AND THEY HAVE A TERM OF 20 YEARS. THE SECOND TYPE IS CERTIFICATES OF OBLIGATION. THESE ARE USED TO CONSTRUCT OR PURCHASE REAL PROPERTY. I GENERALLY EQUATE IT TO NON MOVABLE ASSETS. SO THINK OF PROPERTY ACQUISITION BUILDINGS, THINGS OF THAT NATURE. THESE BONDS ARE ALSO AT A 20 YEAR TERM. THOSE ARE NOT VOTER AUTHORIZED. AND THEN WE HAVE CONTRACTUAL OBLIGATIONS. THIS IS FOR PURCHASE OF PERSONAL PROPERTY. AGAIN, I EQUATE THOSE TO LIKE MOVABLE ASSETS. SO THINGS LIKE POLICE VEHICLES, FIRETRUCK, THINGS OF THAT NATURE. AND THESE BONDS HAVE A TERM OF SEVEN YEARS AND ARE NOT VOTER AUTHORIZED. I WILL HAND IT OVER TO JOEY FOR THE REMAINDER OF THE PRESENTATION. WELL DONE. WHICH, SO JUST LOOKING AT THE STEPS TO SELLER ISSUE DEBT. UM, THE PROCESS TO DEVELOP THE CURRENT YEARS DEBT ISSUANCE STARTED LAST BUDGET CYCLE. THE PROJECTS THAT ARE BEING FUNDED WERE APPROPRIATE FUNDS DURING THE CAP ANNUAL CAPITAL BUDGET APPROPRIATION PROCESS. THE CITY UTILIZES REIMBURSEMENT RESOLUTIONS TO APPROPRIATE FUNDS TO PROJECTS WITHOUT HAVING TO ISSUE DEBT UPFRONT. BY DOING THIS, THE, THE CITY LIMITS ITS ARBITRAGE EXPOSURE, AND THE CITY DOESN'T HAVE TO PAY INTEREST ON UNUTILIZED BOND PROCEEDS. AND, UH, IT'S ALSO FISCALLY PRUDENT CASH MANAGEMENT. IN WORKING WITH BUDGET THIS YEAR, WE ANALYZED SPENDING TRENDS IN COMPARISON TO VARIOUS PROJECT SPENDING PLANS. AFTER LOOKING AT THIS DATA, WE REVIEWED HOW MUCH IN PROCEEDS THOSE PARTICULAR PROJECTS RECEIVED IN THE PAST. ONLY THOSE PROJECTS THAT WERE FORECASTED TO HAVE A LOW TO NEGATIVE FUND BALANCE WERE INCLUDED IN THIS YEAR'S SALES. ALTHOUGH IT'S IMPORTANT TO NOTE THAT THE WORK ON VARIOUS BOND RELATED PROJECTS CONTINUE TO PROGRESS EVEN IF DEBT IS NOT ISSUED IN THE CURRENT ISSUANCE. YEAH. UM, SO TAKING A LOOK AT OUR SERIES 2025 EXPECTED BOND SALE, UM, WE HAVE 358.1 MILLION IN TOTAL OF PUBLIC IMPROVEMENT BONDS. THIS INCLUDES THE 2012 BOND PROGRAM, UM, MILLION DOLLARS WITH, WHICH IS ALL TRANSPORTATION. THE 2016 BOND PROGRAM IS ALL TRANSPORTATION. UH, 2018 BOND PROGRAM IS PARCELED OUT BETWEEN A LOT OF DIFFERENT PARTICIPANTS. AND THE, UM, 2020 PROGRAM IS ALL TRANSPORTATION. AND 2022 ALSO 75 MILLION IS ALL AFFORDABLE HOUSING. AND SO LOOKING AT AFTER THIS BOND SALE, THERE WILL BE APPROXIMATELY 1.02 BILLION IN REMAINING VOTER AUTHORIZED, BUT UNISSUED GENERAL OBLIGATION BONDS, UH, THE 2006 BONDS WILL HAVE 4 MILLION LEFT, WHICH IS ALL CULTURAL ARTS. 2012, WE'LL HAVE THESE A A LITTLE, YOU KNOW, CLOSE TO 6.3 MILLION, WHICH IS, UH, MADE UP OF MOBILITY AND PARK IMPROVEMENTS. 2016 AND 2020. THAT'S ALL TRANSPORTATION. 2022, AGAIN, AFFORDABLE HOUSING. AND THEN 2018 HAS MADE UP A, A NUMBER OF DIFFERENT PROJECTS, UM, SOME OF THE BIGGER ONES, UM, BEING TRANSPORTATION AND LIBRARY WITH 77 MILLION IN TRANSPORTATION WITH OVER 50 MILLION REMAINING TO BE SPENT. SORRY, COULD YOU SAY THAT LAST PART AGAIN? WH WHICH ONE IS DIVIDED BETWEEN, SORRY. THE TWO, THE SERIES 2018 BONDS, IT'S 217, UH, A A LITTLE OVER 217 MILLION. AND THAT'S, I MEAN, I CAN GO THROUGH, THROUGH THE FULL LIST THAT IT'S, IT'S BROKEN OUT INTO AFFORDABLE HOUSING WITH A LITTLE, UH, 14.7 MILLION REMAINING LIBRARY, 70, 70.4 MILLION HARD, UM, 40.7 MILLION DRAINAGE 30, 31 0.8 MILLION IN HEALTH. 410 10,000 EMS FIRE, 2.15 MILLION REMAINING. AND TRANSPORTATION, 50.1 MILLION REMAINING. THANK YOU. YEAH, SURE. ALRIGHT. OH, THERE IT GOES. OKAY. AND FINALLY, SO JUST LOOKING AT THE ANTICIPATED TIMELINE FOR THE SALE, UM, OF THESE BONDS, WE BEGAN WORKING ON THE PRELIMINARY OFFICIAL STATEMENT AND BOND OFFERING DOCUMENTS, UH, JUST RECENTLY, JUST HERE IN EARLY JUNE. UH, THE GEO BOND SALE IS ON THE JULY 24TH CITY COUNCIL AGENDA. THIS IS TO APPROVE THE, UM, PARAMETERS OR ORDINANCE. AND THEN THE BOND SALE IS EXPECTED TO TAKE PLACE IN SEPTEMBER, [00:10:01] UH, VIA NEGOTIATED SALE. AND THE CLOSING DATE FOR THE BONDS IS EXPECTED TO BE OCTOBER 2ND. AND THAT'S ALL WE HAVE. ARE THERE ANY QUESTIONS? I DO HAVE A QUESTION FOR YOUR TIMELINE. ARE Y'ALL MARRIED TO ISSUANCE OR TO NEGOTIATING THE SALE IN SEPTEMBER? GENERALLY, JUST TO FINALIZE OKAY. GO AHEAD. SORRY. GENERALLY, UM, THAT IS OUR GUIDELINE. I MEAN, THAT'S OUR TIMELINE FOR GEO BOND SALE. WE HAVE MODIFIED THAT SCHEDULE IN THE PAST. BUT, UM, WE GENERALLY HAVE THE SALE IN SEPTEMBER AND CLOSE ON THE BONDS IN OCTOBER. AND THE TIME BETWEEN PRICING AND CLOSING THERE IS AT LEAST A MINIMUM OF THREE WEEKS. AND WE GENERALLY LIKE TO HAVE THOSE FUNDS AT THE BEGINNING OF THE FISCAL YEAR. OKAY. AND THE FISCAL YEAR, I GUESS, BEGINS IN OCTOBER 1ST CALENDAR QQ FOUR. OKAY. OKAY. I WAS JUST, I AM, I HAVE E EVERY THIS COINCIDE, THIS MEETING ALWAYS COINCIDES WITH THE, UM, WITH THE, UM, CHANGE IN, OR THE ANNOUNCED CHANGE OF THE FED FUNDS RATE AT THE FED MEETING. I HAPPEN TO WORK IN, IN THE FIXED INCOME MARKETS. AND SO I ALWAYS HAVE THIS UP AT THE SAME TIME THAT I'M WATCHING POWELL SPEAK AND THE NEW DOT PLOT GOT RELEASED AND THERE'S SOMETHING LIKE, UH, NOW I THINK THAT, UM, CONSENSUS IS COMING OUT THAT THERE'S GONNA BE TWO MORE CUTS LOADED INTO THE BACK HALF OF THE YEAR. SO I DON'T KNOW WHAT THE CRITERIA IS, YOU KNOW, FOR, FOR STALLING THAT THAT WOULD BE OBVIOUSLY, YOU KNOW, A LOT OF THINGS TO, UH, UH, THROW CAUTION TO THE WIN FOR, TO BANK ON TWO CUTS. BUT I MEAN, THAT WOULD BE SOMETHING LIKE $2 MILLION OF SAVINGS, YOU KNOW, OF INTEREST ANNUALLY. BUT I I, WHEN WE'RE TALKING LARGE AMOUNTS, I GUESS THAT'S KIND OF A, A SMALL PITTANCE TO PAY. WELL, I JUST DIDN'T KNOW IF THERE WAS FLEXIBILITY OR NOT, BUT YOU SAYING THAT, YOU KNOW, YOU NEED IT BY Q4 CALENDAR Q4, I GUESS THAT, UH, ANSWERS MY QUESTION. AND THAT'S, THAT'S GENERALLY OUR TIMELINE. UM, AS JOEY MENTIONED, WE'RE GOING TO CITY COUNCIL FOR PARAMETERS ORDINANCE, AND SO THAT AUTHORIZES ISSUANCE FOR A SIX MONTH TERM. AND WE ARE MONITORING MARKETS, UM, YOU KNOW, AS WE DEVELOP OUR BOND SALE. SO TIMING CAN BE ADJUSTED AND HAS BEEN ADJUSTED IN THE PAST. GREAT. THANKS. GOOD ANSWER. LOOKING AT THE CHART OF THE PROCESS, DEVELOP THE CIP PLAN, ET CETERA, ET CETERA, ET CETERA, STEPS TO SELL OR ISSUE. SO, UM, DOES THE COUNCIL APPROVE REIMBURSEMENT RESOLUTIONS FOR EVERYTHING THAT IS IN THE CAPITAL BUDGET? RE REIMBURSEMENT RESOLUTION? SORRY, I'M TRYING TO GET TO . YEAH, IT'S ALRIGHT TO THE SLIDE. THE REIMBURSEMENT RESOLUTION, I MEAN, AS PART OF THE ANNUAL CAPITAL BUDGET APPROPRIATIONS, THOSE ARE FOR NEW APPROPRIATIONS MM-HMM . RIGHT. FOR PROJECTS THAT ARE ALREADY IN PLACE, THOSE APPROPRIATIONS HAVE ALREADY, UH, BEEN PUT IN PLACE. SO, AND THE REIMBURSEMENT RESOLUTIONS THAT TIED TO THEM WERE PUT IN PLACE AT THAT TIME AS WELL. RIGHT. SO ANYTHING THAT IS IN THE CAPITAL BUDGET HAS A REIMBURSEMENT RESOLUTION. YES. BUT THEN ANYTHING FUNDED WITH, WITH GENERAL OBLIGATION DEBT. YES. YEAH. WELL, OR REVENUE BONDS AS WELL. SO YES. BUT I THINK YOU ANSWERED THIS QUESTION IN THE PRESENTATION, BUT JUST TO BE CLEAR, IT'S GOING TO THE NEXT STEP WHEN YOU HAVE THE BOND SALE MM-HMM . SO JUST BECAUSE YOU HAVE REIMBURSEMENT RESOLUTIONS DOES NOT MEAN THAT THAT REIMBURSEMENT RESOLUTIONS EQUAL BOND SALE. EXACTLY. THERE'S A SECOND STEP OF ANALYSIS TO SEE WHAT IS ACTUALLY NEEDED AND THAT DETERMINES THE BOND SALE. CORRECT. AND SO THOSE APPROPRIATIONS AND REIMBURSEMENT RESOLUTIONS ARE PUT IN PLACE, AS YOU STATED, AT THE BEGINNING OF A PROJECT OR PRIOR TO A PROJECT TAKING PLACE. AND WHAT WE DO WITH, UM, OUR OFFICE OF BUDGET IS WE LOOK AT ACTUAL EXPENDITURES OUT THE DOOR, AND THOSE ARE WHAT WE ISSUE THE DEBT FOR. THE REIMBURSEMENT RESOLUTION IS SO THAT WE CAN SPEND THOSE FUNDS, KEEP THE TAX EXEMPTION OF THE BOND, AND THEN REIMBURSE OURSELVES LATER. AND THAT IS JUST PRUDENT CASH MANAGEMENT. RIGHT. SO WE'RE NOT EX, WE'RE NOT ISSUING THE DEBT, WE'RE NOT PAYING INTEREST ON THESE IDLE DEBT BOND PROCEEDS. WE'RE INSTEAD TAKING THE APPROACH THAT WE WILL PAY THOSE EXPENSES AND THEN REIMBURSE OURSELVES AT A LATER DATE SO THAT THEN THE BOND SALE DOES [00:15:01] NOT INCLUDE, UH, PROJECTED EXPENDITURES DURING THE NEXT FISCAL YEAR. GENERALLY, NO. OKAY. GENERALLY, WE'RE LOOKING AT THE CURRENT FISCAL YEAR AS WE'RE DEVELOPING THE BOND SALE. AND, UM, FOR THIS, IN FACT, I CHECKED WITH OUR BUDGET OFFICE TO GET AS OF TODAY FOR OUR, UM, GENERAL OBLIGATION BOND SALE AS RELATED TO OUR PUBLIC IMPROVEMENT BONDS. AND WE'RE A HUNDRED PERCENT SPENT ON THOSE FUNDS. SO YES, WE'RE LOOKING AT THE CURRENT FISCAL YEAR THAT WE'RE IN, AND WE ARE ISSUING THOSE BONDS AT, AT THAT, THAT YEAR SALE. OKAY. SO THIS IS, UM, KIND OF AN INAPPROPRIATE QUESTION , BUT . SO, UH, KIM BRIEFED THE BOND TASK FORCE ON THE BOND SALE, BUT IN THAT BRIEFING SHE ALSO MENTIONED WHAT THE PROJECTED BOND SALE WAS GONNA BE NEXT YEAR. AND THIS GETS, AND THE REASON THAT SHE WAS TALKING ABOUT THAT WAS THIS GETS TO THE ISSUE OF, UH, WHEN WE CAN HAVE A BOND ELECTION, AND THAT'S WHAT SHE WAS TALKING TO THE BOND TASK FORCE AND TO SAY, YES, IT LOOKS LIKE WE CAN HAVE A BOND ELECTION IN 2026 BASED ON OUR PROJECTION OF WHERE WE WILL BE AT THAT POINT IN TIME ON, UM, THE UNISSUED DEBT. SO THAT INVOLVES A PROJECTION FORWARD, RIGHT? CORRECT. BUT THAT, THAT Y'ALL ARE NOT INVOLVED WITH THAT, THAT, WELL, THOSE PROJECTIONS. UM, I WOULD HAVE TO DEFER TO OUR PARTNERS HERE AT UH, CDS. THERE IS, UM, EXPENDITURE PRO PROJECTIONS FROM OUR DEPARTMENTS AS TO, UM, WHAT THEY EXPECT TO SPEND IN THE UPCOMING YEAR FOR THOSE AUTHORIZED BUT AN ISSUED, UM, PUBLIC IMPROVEMENT BONDS. YEAH, ABSOLUTELY. SO OUR PROJECT MANAGERS AND OUR SPONSOR DEPARTMENTS WILL CREATE AN ANNUAL SPEND PLAN OF FORECASTED COST DEPENDING ON WHERE THE PROJECT IS AND THE, THE LIFE CYCLE, UM, WHICH IS UPDATED ANNUALLY. SO THAT'S, UH, INPUT TO THAT PROCESS EVERY YEAR. AND IT SHOULD BE NO LONG, NO LATER THAN A YEAR OLD. THAT HOW THAT TIES YES TO THAT DISCUSSION TIES TO WHAT THE BOND OVERSIGHT COMMISSION IS WE ARE NORMALLY LOOKING AT. SO THE QUESTION IS DO THOSE NUMBERS, ARE THOSE NUMBERS THE SAME NUMBERS WE ARE LOOKING AT WHEN DEPARTMENTS COME IN AND TALK TO US ABOUT THEIR SPENDING CURVE? OR DOES ANYBODY KNOW THERE FOR THEIR SPEND PROJECTIONS IN ANY GIVEN YEAR? UH, THAT, YOU KNOW, I WOULD HAVE TO SAY HISTORICALLY, I DON'T KNOW THAT, UM, SPEND PROJECTIONS HAVE ALWAYS BEEN, UM, WHERE THEY ANTICIPATED THE YEAR BEFORE, UM, AS THOSE SPEND PROJECTIONS ARE BEING DEVELOPED AND IMPLEMENTED IN THE CAPITAL, UH, BUDGET. SO, UM, I WOULD THINK THAT WHEN THEY'RE COMING IN HERE TO PRESENT TO THE BOND OVERSIGHT COMMISSION, UM, THEY ARE LINED UP WITH THOSE SPEND PROJECTIONS. BUT AGAIN, I'D HAVE TO DEFER TO, UH, STEVEN HERE FOR SOME MORE INSIGHT ON THAT. THERE ARE TWO SPEND PLANS, OR TWO SERIES OF SPEND PLANS THAT IN, IN THEORY, IN THEORY, THEY, THEY WILL ALIGN PRECISELY THE SPEND PLANS THAT THE FINANCE SPEND PLAN IS THE PLAN THAT WORKS ITS WAY THROUGH BUDGET AND ACTUALLY TRANSLATES TO THE BOND SALES. THE PROJECT MANAGERS WILL, AND AGAIN, THE SPONSORED DEPARTMENTS THAT ARE WORKING THROUGH THOSE PROJECTS WILL, UM, SOMETIMES HAVE A, A WORKING OR MORE, UM, I DON'T WANNA SAY REACTIVE, BUT RESPONSIVE SPEND PLAN BASED ON ACTIVITIES GOING ON IN THE PROJECT IN THE FIELD THAT, UM, MAY CREATE A, A GAP, UM, IN, IN THE CURRENT YEAR BETWEEN THOSE TWO. BUT GENERALLY THEY, THEY TRACK PRETTY CLOSELY. SO THE PRESENTATIONS FROM OUR DEPARTMENTS, UM, WHAT YOU'LL, YOU'LL PROBABLY SEE IN THE NEXT PRESENTATION SHOULD BE THE SPEND PLAN THAT THE, UM, DEPARTMENTS ARE USING SO THAT THE MORE CURRENT, UM, IT'S MORE VERSION OF THE PLAN IT THAN WHAT FINANCE AND TREASURY ARE LOOKING AT. SO WHEN WE'RE DEVELOPING THE BOND SALE, WE'RE, WE'RE, WE'RE LOOKING AT THE SPEND, BUT WE'RE ALSO LOOKING AT ACTUAL EXPENDITURES OUT THE DOOR MM-HMM . SO AS, AS, AS HOPEFULLY THE DEPARTMENTS ARE AS WELL. YEAH. . UM, I DO KNOW THAT THERE ARE MODIFICATIONS TO SPEND PLANS. I MEAN, OF COURSE THERE'S GOING TO BE RIGHT, THERE'S GONNA BE DELAYS IN PROJECTS AND, UM, SO THERE, THOSE PROJECTS, UH, SPEND PLANS DO GET AFFECTED BY THOSE. UM, AND SO THERE, THERE WILL BE MODIFICATIONS AT THE END OF THE FISCAL YEAR, [00:20:01] UM, AS TO THAT, THAT THAT CURRENT FISCAL YEAR SPEND PLANNED. I AM AWARE OF THAT. OKAY. WE'VE SEEN THE LINE CHANGE SEVERAL TIMES, SO, BUT I LIKE THE, LIKE THE WAY YOU SAID THAT THERE'S A FORECAST AND THERE'S A REACTIVE PLAN. RESPONSIVE YEAH. RESPONSE. BUT THERE'S ALSO THE OLD PROPER MAN WITH TWO WATCHES NEVER KNOWS WHAT TIME IT IS. YEAH. . HEY, I'VE GOT A QUESTION, AND THIS IS JUST A GENERAL QUESTION, UM, THAT, WELL THE, THE 2006, UH, AMOUNT OF $4 MILLION, WHAT'S THE PLAN FOR THAT? IT SEEMS LIKE, I MEAN, WE'RE GOING ON ALMOST 20 YEARS HERE. CAN ANYONE SPEAK TO THAT? AND IF NOT, UH, WE CAN TAKE IT OFFLINE FOR A FOLLOW UP. YEAH, WE'LL, WE'LL TAKE AN ACTION ON THAT TO, TO GIVE YOU AN UPDATE ON WHERE THAT STANDS RIGHT NOW. I, IT IS THE ME CARTE PROJECT, BUT AS FAR AS CURRENT STATUS, I DON'T HAVE THAT, UM, AT MY FINGERTIP. IS THAT, THAT'S WHICH PROJECT? NO, WITH THE, THE ONE DOWN OVER THERE. YEAH. YES SIR. YEAH, IT'S BEEN GOING ON A LONG TIME. BUT TO FOLLOW UP ON THAT, I, I ALSO UNDERSTAND FROM THE BOND OVERSIGHT, UH, I MEAN THE BOND TASK FORCE DISCUSSION, THAT PART OF THE DISCUSSION IN PLANNING THE NEXT FUND ELECTION IS GOING THROUGH ALL OF THE REMAINING BONDS THAT ARE ALL OF THESE POTS OF MONEY TO SEE IF ANY OF THAT CAN BE USED FOR, UH, PROJECTS THAT ARE ON THE POTENTIAL LIST. SO THOSE GOOD POINT, ALL OF THOSE BUCKETS ARE BEING MM-HMM . SUPPOSED TO BE BEING SEARCHED AT THE MOMENT. OKAY. ANY OTHER QUESTIONS? ALRIGHT, THANK YOU ALL VERY MUCH. THANK YOU. I APPRECIATE IT. THAT WAS VERY GOOD. THANK YOU. THANK YOU. AND I, I'M STILL CONFUSED. ALL RIGHT. WELCOME Y'ALL. [2. Staff briefing from Watershed Protection Department on the bond programs ] HELLO. HELLO, I'M JANAE SPENCE. I'M WITH THE WATERSHED PROTECTION DEPARTMENT. I AM THE ASSISTANT DIRECTOR OF PROJECT DESIGN AND DELIVERY. I'LL GO AHEAD AND LET SUSAN INTRODUCE HERSELF AS WELL. HELLO, I'M SUSAN WITH THE WATERSHED PROTECTION DEPARTMENT. I'M THE CAPITAL, UH, PROGRAM CONSULTANT FOR THE DEPARTMENT. SO WE'RE HERE TO TALK TO YOU GUYS ABOUT OUR 2018 BOND, WHICH WAS PROP D. AND JUST A LITTLE BIT ABOUT WATERSHED WE'RE OUR, UH, DRAINAGE UTILITY FOR THE CITY. ALSO PRIMARY ENVIRONMENTAL ARM. SO OUR MISSION IS TO PROTECT THE LIVES, PROPERTY AND ENVIRONMENT OF OUR COMMUNITY BY REDUCING THE IMPACT OF FLOODING, EROSION, AND WATER POLLUTION. SO THE PROJECTS AND THINGS THAT WE PURSUE ARE TRYING TO FURTHER THAT MISSION. I WON'T READ ALL OF THIS, BUT IN SHORT, UH, THE 2018 PROP D WAS FOR FLOOD MITIGATION, OPEN SPACE AND WATER QUALITY PROTECTION. UH, WE HAD 184 MILLION TO DO THAT. AND YOU COULD SEE SOME OF THE THINGS THAT THIS COULD INCLUDE, UH, DESIGNING, ACQUIRING, CONSTRUCTING, AND THE TYPES OF PROJECTS THAT THESE COULD BE USED FOR. THE TIMELINE WAS AN EIGHT YEAR BOND CYCLE. SO AGAIN, 2018 WOULD MEAN AT 2026, UH, TRY TO SPIN DOWN. AND THEN I ASSUME YOU GUYS GOT THIS, UH, VIRTUALLY SO YOU GUYS COULD CLICK ON THAT BALLOT LANGUAGE AND THEN CONTRACT WITH THE VOTERS AS WELL. WE DID. THANK YOU. YEAH. FANTASTIC. GREAT. UM, SO IT WAS SPLIT OUT INTO TWO DIFFERENT SECTIONS. I KNOW IT'S KIND OF SMALL HERE. HOPEFULLY YOU GUYS CAN SEE IT WELL ON YOURS, BUT 112, WHICH WAS FOR FLOOD MITIGATION AND DRAINAGE, AND THEN THE REMAINING EIGHT, UH, 72, THAT WAS FOR OPEN SPACE AND WATER QUALITY. SO ACQUISITION OF THOSE LANDS. AND THEN YOU CAN SEE THE, UH, ORANGE THERE IS SHOWING HOW MUCH THAT WE HAVE, UH, SPENT OUT AND HOW MUCH, UH, IS LEFT FOR EACH OF THOSE, UH, SPOTS. AND THEN ON THE LEFT YOU CAN SEE THE 184, THAT'S A TOTAL AMOUNT. AND SO APPROPRIATED WE HAVE A HUNDRED PERCENT OF IT. APPROPRIATED, ENCUMBERED MEANS THAT IT'S ALREADY IN A CONTRACT MOVING FORWARD. EITHER A CONSTRUCTION DESIGN, SOMETHING OF THAT NATURE, UM, SPENT A COURSE IS LIKE ALREADY OUT THE GATE, UH, COMMITTED. I KNOW THAT'S A LITTLE CONFUSING WITH COMMITTED AND AVAILABLE. COMMITTED MEANS IT'S ALREADY SPENT OR IN A CONTRACT AND AVAILABLE MEANS IT'S NOT IN A CONTRACT. THAT DOESN'T MEAN THAT WE HAVE 8 MILLION THAT WE DON'T KNOW WHERE TO SPEND IT. WE KNOW WHERE WE'RE GONNA SPEND THAT 8 MILLION. IT'S JUST NOT IN THE CONSTRUCTION CONTRACT OR WHATEVER CONTRACT MM-HMM . UH, THAT IS, HAS MOVED FORWARD YET. UM, SO THAT 95% THAT SAYS COMMITTED, UM, YOU KNOW, IT'S REALLY A HUNDRED PERCENT THAT'S COMMITTED TO PROJECTS. IT'S MORE OF IS IT ALREADY IN A CONTRACT THAT'S BEING SPENT REGULARLY. OKAY. THANK YOU. YEAH, AND THIS IS JUST KIND OF OUR SPIN DOWN PLAN. WE'RE, WE'RE PUSHING REALLY HARD TO THAT 2026, UH, DATE. I THINK WE'RE DOING PRETTY WELL ON GETTING THERE. UH, WE HAVE, UH, AS YOU CAN SEE, [00:25:01] WE'LL SPEND DOWN ALMOST ALL OF IT. I THINK WE HAVE, UH, 7 MILLION OR SO THAT'LL BE LEFT IN 2026 THAT WE'RE, UH, LOOKING TO SPEND DOWN EARLY 2027. AND I AM WORKING AS HARD AS I CAN TO MAKE SURE TO SEE IF I CAN GET THAT DOWN TO ZERO. WE'LL SEE IF WE CAN MAKE THAT HAPPEN. AND SO THIS WAS A LITTLE BIT MORE ABOUT OUR, HOW WE SELECTED THESE PROJECTS. SO IT WAS REALLY LOOKING AT THE VERY HIGH, UH, FLOOD AND EROSION RISK SEVERITY. WE WERE LOOKING AT ONES THAT WE THOUGHT HAD PRETTY GOOD CONFIRMED FEASIBILITY. WE'RE ACTUALLY DOING A LOT BETTER EVEN IN OUR, OUR CURRENT BOND PROCESS OF MAKING SURE THAT PROJECTS ARE A LITTLE BIT FURTHER ALONG AND ARE GONNA BE AS DELIVERABLE AS POSSIBLE FOR OUR, OUR UPCOMING BOND, UH, THAT MAY MOVE FORWARD. UH, SO KIND OF LOOKING AT REALLY THE ONES THAT ARE THE MOST SHOVEL READY AND THAT WE CAN MAXIMIZE OUR NUMBER OF PROJECTS, UH, AND, AND ACROSS THE CITY AS WELL. SO INSTEAD OF JUST ONE BIG PROJECT HERE OR THERE, TRYING TO MAKE SURE THAT WE'RE TOUCHING AS MANY, UH, PEOPLE AS WE CAN ACROSS THE CITY WHILE MAKING SURE THAT WE'RE STILL DOING MEANINGFUL PROJECTS, UH, WITHIN THE CITY. AND WITH THAT, I'LL GO AHEAD AND HAND IT TO, UH, SUSAN TO KIND OF GET INTO OUR DETAILS OF OUR PROJECTS. ALL RIGHT. SO THIS MAP IS, IT SHOWS THE GEOGRAPHIC REPRESENTATION OR DISTRIBUTION OF THE FLOOD MITIGATION AND DRAINAGE PROJECTS THAT CONSTITUTE THE 60.9% OF THE TOTAL BOND FUNDING. THE DIFFERENT SYMBOLS THAT YOU SEE ON THE MAP REFLECT THE DIFFERENT MISSION AREAS OF MAINLY CREEK AND LOCAL FLOOD AND EROSION PROJECTS. TO RESPOND TO WHAT YOU JUST SAW IN THE PREVIOUS SLIDE, THE B DIFF RECOMMENDATIONS TO FOCUS ON VERY HIGH FLOOD AND EROSION SEVERITY, THE PASTEL COLORS ON THE MAP REPRESENT THE DIFFERENT COUNCIL DISTRICTS WITH BOND FUNDED PROJECTS IN EVERY DISTRICT AND DISTRIBUTED ACROSS AUSTIN. MOST OF THE BOND, UM, OR MOST OF THE PROJECTS THAT YOU'LL SEE ARE E UH, EAST OF MOPAC, WHERE THE WORST FLOOD AND DRAINAGE PROBLEMS HAVE HIS HISTORICALLY OCCURRED. AND ESPECIALLY IN AREAS WHERE A LOT OF THE DEVELOPMENT OCCURRED BEFORE OUR DRAINAGE REGULATIONS WERE ENACTED. SO IN THE NEXT FEW SLIDES, WE HAVE LISTS OF DRAINAGE AND EROSION PROJECTS THAT HAVE OR ARE RECEIVING 2018 BOND FUNDING. THE PROJECT CHARTS SHOW THE PROJECT NAMES AND TYPES THE PHASE IN WHICH THE BOND FUNDING WAS OR IS BEING USED. THE CURRENT PHASE THE PROJECT IS IN, AND THE FISCAL YEAR OF THE APPROXIMATE CONSTRUCTION STARTS. AND THIS, UH, CHART HERE SHOWS THE CREEK RISK CREEK FLOOD RISK REDUCTION PROJECTS, AND WE'RE GONNA START WITH THOSE. AND CREEK FLOODING OCCURS WHEN THE CREEKS OVERFLOW THEIR BANKS DUE TO EXCESSIVE RAINFALL OR OTHER FACTORS SUCH AS CLOUDED CULVERTS CAUSING INUNDATION OF SURROUNDING AREAS, PARTICULARLY HOUSES, YARDS, AND STREETS. AND WE HAVE SEVEN CREEK RISK REDUCTION PROJECTS THAT HAVE OR ARE RECEIVING BOND FUNDING OF THESE PROJECTS. ONE IS COMPLETED, THAT'S THE ONION CREEK PROPERTY BUYOUTS, WHICH WERE DONE TO REMOVE RESIDENTIAL STRUCTURES OUT OF THE FLOODPLAIN WHERE NO FEASIBLE BUILT SOLUTION WAS POSSIBLE. TWO OTHER PROJECTS ARE IN CONSTRUCTION RIGHT NOW. FOUR PROJECTS ARE IN DESIGN WITH TUBING IN THE EITHER 90 OR A HUNDRED PERCENT DESIGN, WHICH MEANS THEY'RE PRETTY FAR ALONG AND ALMOST READY TO GO UP TO BID. ONE PROJECT IS IN 60% DESIGN, AND THERE'S ANOTHER IN PER OR PROFESSIONAL ENGINEERING REPORT PHASE, WHICH IS THE STAGE BEFORE A PROJECT GOES INTO MORE COMPREHENSIVE DESIGN. SO THIS IS AN EXAMPLE OF A CREEK FLOOD RISK REDUCTION PROJECT, WHICH IS THE LITTLE WALNUT, UM, METRIC TO RUTLAND PROJECT THAT'S CURRENTLY IN CONSTRUCTION. THIS PROJECT'S MAIN GOAL IS TO REDUCE FLOODING IN THE MES MEADOW AREA, AND WE'RE GOING TO DO THAT WITH A LARGE BOX CULVERT THAT WILL DIRECT FLOOD WATERS INTO THE DETENTION POND IN QUAIL CREEK PARK, WHICH IS WHAT YOU SEE AT THE BOTTOM OF THE SLIDES. THE CONTRACTORS CURRENTLY WORKING ON PHASE THREE OF THE PROJECT AND EXPECTS TO BE, UH, COMPLETE WITH THAT PHASE POSSIBLY THIS MONTH OR EARLY NEXT MONTH. WITH THE PROJECT'S FULL COMPLETION ANTICIPATED IN Q2 OF 2026. THIS PROJECT WILL REMOVE THE THREAT OF FLOODING FROM AT LEAST 60 OF THE 80 PROPERTIES IN THE FLOODPLAIN IN THIS AREA, AND REDUCING THE THREAT OF FLOODING TO THE REMAINING PROPERTIES. AND IT WILL ALSO IMPROVE CAPACITY AND SAFETY OF ROADWAY CROSSINGS OVER THE CREEK TO OPTIMIZE THE PROJECT AND COST SAVINGS TO THE CITY. WE ARE INCORPORATING WATER AND WASTEWATER IMPROVEMENTS WITH THIS PROJECT AND ALSO [00:30:01] A SHARED USE PATH ALONG MES MEADOW OF THE 2018 BOND FUNDING APPROPRIATED TO THIS PROJECT, WHICH WAS, YOU KNOW, ROUGHLY 19.5 MILLION. THERE'S APPROXIMATELY 4.7 MILLION OF THE OBLIGATED FUNDING YOU HAVE TO SPEND, BUT WE EXPECT TO HAVE THAT DONE IN EARLY, UH, FISCAL YEAR 26 WHEN THE PROJECT IS WRAPPING UP. CAN, CAN I ASK A QUESTION AS WE GO? IS THAT, IS THAT SURE. OKAY. AND SO, SO IF, IF THINGS ARE IN THE DESIGN PHASE AND THEIR CONSTRUCTION START IN FISCAL YEAR 28, ARE ALL, WILL THE CONSTRUCTION PHASE STILL BE OPERATING FROM THIS BOND OR IS IT ITS FUTURE BOND? SO, YEAH. YEAH. SO THE ONE IN THE MIDDLE, IT SAYS BOND FUNDED PHASES. SO IF IT SAYS DESIGN, THEN WE'RE ONLY FUNDING THE DESIGN THROUGH THIS ONE. AND THEN THE OTHER ONE SAYS, UH, DESIGN. SO IF IT SAID DESIGN AND CONSTRUCTION, THEN YOU WOULD KNOW, OKAY, IF WE'RE ONLY IN DESIGN, THEN WE'RE STILL FUNDING CONSTRUCTION. COOL. THANK, SO THESE ARE ONES WE'RE GETTING READY FOR, UH, YOU KNOW, FUTURE FUNDING. GOTCHA. THANK YOU. I COMPLETELY MISSED THE MIDDLE COLUMN. YEAH, NO, NO WORRIES. OKAY. SO MOVING ON TO THE EROSION STREAM RESTORATION GROUP, WHICH SEEKS TO REPAIR CREEK EROSION, WHICH IS A NATURAL PROCESS WHERE FLOWING WATER REMOVES SOIL AND ROCKS FROM THE STREAM BANKS AND BEDS AND CAN THREATEN STRUCTURES ON TOP OF THE BANKS. THERE ARE SEVEN EROSION STREAM RESTORATION PROJECTS THAT HAVE OR ARE RECEIVING BOND FUNDING OF THESE PROJECTS. ONE IS COMPLETED AND THAT'S THE PARK PLAZA STREAM STABILIZATION PROJECT. TWO OTHER PROJECTS ARE IN CONSTRUCTION AND ONE IS IN THE BID AWARD PHASE. SO IT'S GEARING UP TO BE IN CONSTRUCTION PRETTY SOON. THREE PROJECTS ARE IN DESIGN. ONE IS AT A HUNDRED PERCENT DESIGN, ANOTHER AT 30, AND WE HAVE A THIRD IN THE PER PHASE. AND THE ONLY FEW PROJECTS WITH APPRECIABLE BOND FUNDING IN THIS GROUP, UM, THAT THAT IS LEFT TO SPEND ARE IN THE CONSTRUCTION PHASE. AND ONE SUCH EROSION PROJECT IN THE CONSTRUCTION PHASE IS THE ROY G. GUERRERO PARK CHANNEL STABILIZATION PROJECT IN THE COUNTRY CLUB WEST WATERSHED. THIS IS WATERSHED'S LARGEST EROSION PROJECT. AND THIS BEGAN BACK IN THE SPRING OF 2016 WITH A DRAFT ENGINEERING PROPOSAL AND THE AIM OF FIXING AND HALTING EROSION THAT UNDERMINED THE PARKS PEDESTRIAN BRIDGE AND THAT THREATENED BALL FIELDS, TRAILS, PARKLAND, AS WELL AS DEVELOPED LAND UPSTREAM OF THE, OF THE PROJECT. IF THE EROSION WASN'T HALTED, CONSTRUCTION BEGAN IN AUGUST, 2022, AND SUBSTANTIAL COMPLETION SHOULD BE WITHIN THE NEXT COUPLE OF MONTHS. BEFORE THIS EFFORT, WATERSHED DID FIVE TEMPORARY PROJECTS TO SLOW EROSION AS WE WORKED TO DESIGN THIS LARGER PROJECT. AND THAT THE LARGER PROJECT THAT BECAME THE MORE PERMANENT FIX, THE GOAL OF THE SMALLER PROJECTS WAS TO TRY TO STEM THE EROSION THAT WAS MARCHING UP TOWARD THE MULTIFAMILY DEVELOPMENT SOUTH OF THE AREA. ON THE MAP WATERSHED COMMITTED 10.7 MILLION OF BOND FUNDING ON THIS PROJECT, MO, MOST OF WHICH IS SPENT TO DATE. OKAY, ON THIS AND THE NEXT SLIDE, WE'RE GONNA REVIEW THE LOCALIZED FLOODING PROJECTS, WHICH ARE DONE IN RESPONSE TO FLOODING, WHICH OCCURS IN SPECIFIC LOCATIONS, OFTEN DUE TO OVERLOADED OR UNDERSIZED DRAINAGE SYSTEMS, WHICH CAN CAUSE INUNDATION OF STRUCTURES, YARDS, AND STREETS. THERE ARE 15 LOCAL FLOOD RISK REDUCTION PROJECTS THAT HAVE OR ARE RECEIVING 2018 BOND FUNDING OF THESE TWO ARE COMPLETED, WHICH ARE THE MEREDITH STREET STORM DRAIN IMPROVEMENTS AND NORTH ACRES ROADWAY DRAINAGE IMPROVEMENT PROJECT. THREE PROJECTS ARE CURRENTLY IN CONSTRUCTION AND TWO ARE IN THE BID AWARD. PHASE SEVEN PROJECTS ARE IN DESIGN, FIVE ARE IN THE 90 TO A HUNDRED PERCENT DESIGN PHASE AND ANOTHER'S AT 60. AND THERE'S ONE IN PER PHASE, ALTHOUGH THAT PROJECT HAS EX EXHAUSTED ITS BOND FUNDING. SO AN EXAMPLE OF A LOCALIZED FLOOD RISK REDUCTION PROJECT IS OUR JANUARY DRY PROJECT, WHICH IS IN WALNUT CREEK, AND THIS IS IN CONSTRUCTION. THIS PROJECT IS INTENDED TO REDUCE THE RISK OF FLOODING OF 13 BUILDINGS AND YARDS AND ONE STREET THROUGH AN UPGRADED STORM, UH, DRAIN SYSTEM THAT INCLUDES APPROXIMATELY 1700 LINEAR FEET OF PIPE. WE'RE ALSO GOING TO HAVE A GROW ZONE IN THIS AREA THAT WILL RESOR, UH, RESTORE NATIVE TREES, SHRUBS, AND GRASSES, AND WILL HELP [00:35:01] WITH, UH, EROSION PROBLEMS IN THE FUTURE. CONSTRUCTION ON THIS PROJECT BEGAN IN EARLY MAY OF 25 AND IS ANTICIPATED TO GO INTO Q3 OF 2026, AND WE'VE OBLIGATED 3.3 MILLION OF BOND FUNDING FOR THIS PROJECT. SO WITH THE OTHER 39.1% OF THE BOND FUNDING AND PROPOSITION D WATERSHED HAS ACQUIRED VARIOUS PROPERTIES AND CONSERVATION EASEMENTS OVER THE EDWARDS AQUIFER, WHICH IS ONE OF THE MOST PRODUCTIVE IN THE COUNTRY. THIS MAP SHOWS THE PROPERTIES AND EASEMENTS PURCHASED WITH THE 2018 BOND FUNDING, AND THOSE ARE THE ONES THAT ARE SHOWN IN PURPLE AND YELLOW. AND ALSO SHOWN HERE IN GREEN ARE THE EXISTING WATER QUALITY PROTECTION LANDS, DEMONSTRATING THAT WE'RE WORKING TOWARD, UH, GETTING A LARGE CONTIGUOUS AREA OF WATER QUALITY PROTECTION LANDS WITH THESE PURCHASES. THESE LANDS ARE MANAGED BY AUSTIN WATER AS WATER QUALITY PROTECTION LANDS, AND WE PURCHASED THESE PROPERTIES TO OPTIMIZE THE QUANTITY AND QUALITY OF WATER RECHARGING INTO THE BARTON SPRINGS SEGMENT OF THE EDWARDS AQUIFER. AND THAT SEGMENT STORES AND MOVES WATER FROM THE KYLE AREA TO BARTON SPRINGS POOL IN THE CENTER OF AUSTIN. THIS IS THE LIST OF THE ACQUISITIONS AND THEIR SIZES. SO WITH THE 2018 BOND, WE ACQUIRED ALMOST 6,800 ACRES OF WATER QUALITY PROTECTION LANDS. THE GOAL IS TO ACQUIRE A HUNDRED THOUSAND ACRES OF LAND AND TO DATE OVER ALL OF THE BOND PROJECTS THAT HAVE RESULTED IN ACQUISITIONS, WE'VE REACHED 35,000 ACRES. AND ONE EXAMPLE OF AN OPEN STATE OPEN SPACE ACQUISITION USING THE 2018 BOND FUNDING IS THE 202 ACRE CONSERVATION EASEMENT BETWEEN THE SHIELD RANCH, THE NATURE CONSERVANCY, AND THE CITY OF AUSTIN TO PROTECT WATER QUALITY, HYDROLOGICAL, HYDROLOGIC FUNCTION, AND BIODIVERSITY. THE SHIELD RANCH IS A DIVERSE 6,600 ACRE PROTECTED WILDLAND THAT IS HOME TO 10% OF BARTON CREEK'S WATERSHED. AND THERE'S A, UH, WEBSITE IF YOU WANNA LEARN MORE ABOUT THIS BEAUTIFUL PROPERTY. SO IN SUMMARY, THE BOND ELECTION IN EARLY NOVEMBER, 2018 AUTHORIZED 108, 184 MILLION OF FUNDING TO WATERSHED PROTECTION FOR TWO INITIATIVES, 112 MILLION FOR FLOOD MITIGATION AND 72 MILLION FOR OPEN SPACE. SO THAT WAS WITH THE AIM OF IMPROVING DRAINAGE INFRASTRUCTURE AND TO PROTECT AND IMPROVE QUAL QUALITY OF WATER SUPPLIES. THE FUNDING'S 95% COMMITTED, AND OF THE REMAINING FUNDING THAT'S NOT COMMITTED, A BALANCE OF A LITTLE OVER 8 MILLION, WE HAVE IT PROGRAMMED INTO THE FIVE YEAR PLAN TO BE ENCUMBERED, HOPEFULLY BY THE END OF THE EIGHT YEAR CYCLE. AS JANNA SAID, WE'RE WORKING REALLY HARD TO GET THAT ACCOMPLISHED WITH THIS FUNDING. WE'VE FUNDED 29 FLOOD MITIGATION AND DRAINAGE PROJECTS, 14 OF WHICH ARE IN DESIGN, THE HALF, HALF OF THEM IN THE EARLY TO MID STAGES, AND THE OTHER HALF IN THE LATE STAGE OF DESIGN. SEVEN PROJECTS ARE IN CONSTRUCTION WITH ANOTHER THREE IN THE BID AWARD PHASE, AND FOUR ARE IN THE POST-CONSTRUCTION OR COMPLETED PHASE. AND OF THE PROJECTS IN DESIGN, WE ANTICIPATE THAT OVER HALF WILL BE COMPLETED IN TIME FOR THE 2026 BOND. SO WE'LL GET SOME FUNDING FOR CONSTRUCTION. ITS 29 PROJECTS HAVE HELPED OR WILL HELP AUSTINITES ACROSS THE CITY IN EVERY COUNCIL DISTRICT. AND SIMILARLY, THE WATER QUALITY PROTECTION LANDS THAT WE'VE ACQUIRED WITH THIS MONEY WILL CONTRIBUTE TO OUR GOAL OF HAVING A LARGE CONTIGUOUS AREA OF PROTECTED LANDS IN THE BARTON SPRINGS RECHARGE ZONE. AND WITH THAT, THANK YOU. WE'LL HAVE TO TAKE QUESTIONS. WE'RE OPEN FOR QUESTIONS. COULD YOU GO BACK TO PAGE DATE, THE CREEK FLOOD RISK REDUCTION CHART? OKAY. SO YEAH, THE EARLIER TO THE EARLIER QUESTION ON ONION CREEK, YOU, YOU SAID, BECAUSE IT SAYS [00:40:01] DESIGN, THAT MEANS WE'RE ONLY FUNDING DESIGN OUT OF THIS, UM, FOR THIS FUND. SO THEN, BUT YOU ARE HOPEFUL TO FUND CONSTRUCTION OUT OF A FUTURE BOND? YEAH, WE HAVE TWO DIFFERENT WAYS THAT WE CAN FUND CONSTRUCTION. SO WE HAVE OUR DRAINAGE UTILITY FEE MM-HMM . UM, WHICH A PORTION OF THAT IS MOVED INTO A PROJECT FUND THAT WE CAN DO PROJECTS WITH. AND THAT IS, UH, REPLENISHED EVERY YEAR. UH, WE USE THAT PRI IDEALLY WE'RE USING THAT MORE FOR SMALLER PROJECTS THAT WE CAN DO QUICKLY AND ADDRESS THAT WE DON'T NEED TO ADDRESS THROUGH BOND, BUT THAT IS A SOURCE OF FUNDING THAT, UH, COULD SUPPLEMENT THESE TO, TO GET, MAKE SURE THEY CONTINUE TO MOVE FORWARD. UM, AND THEN OF COURSE, A POSSIBLE FUTURE BOND WOULD BE OUR PRIMARY WAY THAT WE WOULD LIKE TO DELIVER LARGER PROJECTS IN THIS FUTURE. SO WHAT IS, WHAT DEGREE OF RISK IS IT TO DESIGN SOMETHING THAT YOU DON'T HAVE THE MONEY TO BILL YET? YEAH, I THINK THAT'S A DIFFICULT THING THAT WE ARE DEALING WITH ACROSS THE CITY IS WHENEVER WE'RE GEARING UP FOR BONDS, AND STEVE CAN SPEAK TO THIS AS WELL, RIGHT? UH, THE GOAL IS TO HAVE IT BE SHOVEL READY. AND SO YOU'RE ALWAYS AT THAT RISK OF, WELL, IN ORDER TO GET IT SHOVEL READY, I HAVE TO DO A CERTAIN AMOUNT OF PRE-WORK AND WE CAN'T PREDICT WHAT'S GONNA HAPPEN THE NEXT STEP. SO I THINK THAT IS A LEVEL OF RISK THAT WE TAKE ON. BUT WE DO TRY TO MAKE SURE WE'RE REALLY THOUGHTFUL IN OUR PIPELINE OF, OKAY, EXACTLY HOW MUCH ARE WE DOING? WHAT CAN WE GET READY? IF THOSE AREN'T GONNA MOVE FORWARD, THEN WE REDO OUR, UH, INTERNAL CIP PLAN EVERY YEAR FOR THE NEXT FIVE YEARS TO SAY, HOW CAN WE MOVE THOSE FORWARD? SO IF FOR SOME REASON THERE WASN'T AN APPROVED, UH, BOND THAT WOULD MOVE FORWARD, THEN WE WOULD HAVE TO LOOK AT, OKAY, WHAT PROJECTS DO WE HAVE? HOW ARE WE THEN GOING TO MAYBE TRY TO FUND THEM FROM A DIFFERENT SOURCE AND THEN PUT OTHER PROJECTS THAT ARE IN PER EARLY DESIGN ON HOLD TO MAKE SURE THAT WE CONTINUE TO MOVE THESE OTHER ONES FORWARD. UM, BUT IT IS A, YOU DON'T KNOW. SO IT IS A TRICKY GAME OF HAVING READY. AND ONE OF, ONE OF THE THINGS THAT WE'VE DISCUSSED, UH, IN PREVIOUS COUPLE OF YEARS IS THAT ISSUE, UH, IF YOU'RE GONNA DESIGN A PROJECT, YOU KNOW, AHEAD OF, SO THAT YOU CAN BE READY TO SPEND BOND FUNDS, IF YOU'RE GONNA DESIGN IT AHEAD OF TIME, ARE YOU GONNA DO THAT OUT OF BOND FUNDS OR OUT OF OPERATING FUNDS? DO YOU DO IT? DO YOU DO BOTH OR? YEAH, WE DO BOTH. IT DEPENDS ON THE SCALE. UM, I KNOW THERE ARE SOME DEPARTMENTS THAT HAVE NO REAL FUNDING AVAILABLE TO DO ANY TYPE OF PER DESIGN. WE DO HAVE SOME, UM, BUT FOR SOME OF THESE LARGER PROJECTS, IT WOULD TAKE OUR ENTIRE YEAR'S BUDGET TO DO A DESIGN FOR ONE PROJECT, UM, FOR THOSE THOSE FUNDS. SO WE, WE ARE TRYING TO RIGHTSIZE THAT OF EXACTLY WHAT SHOULD WE USE IN-HOUSE MONEY FOR. UM, ALSO RECOGNIZING THAT THERE ARE OTHER THINGS THAT WE SHOULDN'T BE SPENDING THAT MONEY ON, LIKE SMALL IN-HOUSE, UH, THINGS THAT WE'RE DOING QUICKLY TO GET TO. SO, UH, WE'RE HEARING FROM THE COMMUNITY THAT THEY WANT US TO NOT JUST DO THE LARGE PROJECTS, BUT ALSO ADDRESS SOME OF THESE SMALLER ISSUES. SO WE'RE TRYING TO DO ALL OF IT. AND THEN THE LITTLE WALNUT CREEK, UH, SAYS CONSTRUCTION. SO DOES, IT DOESN'T SAY DESIGN CONSTRUCTION. SO DOES THAT MEAN THAT LITTLE WALNUT CREEK DESIGN WAS DONE UNDER A PREVIOUS BOND PROJECT? UH, LIKELY. I DON'T HAVE THE DETAILS OF WHAT, OF HOW MUCH WAS FOR EACH, BUT YES, IT WAS LIKELY THAT IT WAS SOMETHING THAT WAS SHOVEL READY WHEN WE STARTED A FEW OF THESE THAT SAY DESIGN, LIKE IT'S FUNDED FOR DESIGN. IF WE WERE TO PRESENT THIS AGAIN, SAY THE NEXT BOND IS APPROVED AND WE WERE TO PRESENT THIS, AGAIN, IT WOULD SAY CONSTRUCTION ONLY BECAUSE WE ARE DONE WITH DESIGN, WE'RE GETTING IT PERMITTED. YEAH. ASSUMING THAT WE ARE GONNA PUSH IT INTO CONSTRUCTION WITH THE, UH, YEAH. FUTURE FUNDING. THAT'S THE WAY I WAS UNDERSTANDING THAT. CORRECT. SO FROM MY PERSPECTIVE, AT LEAST, I, I DON'T KNOW ABOUT THE OTHER BOOKS ON THE COMMISSION. TYPICALLY WHAT WE HAVE SEEN IN THE PAST IS MORE, UH, PAGE FIVE, WHICH IS A SPIN CURVE. MM. THAT'S BASICALLY IN BAR CHART FORM A SPIN CURVE. MM-HMM . FROM MY PERSPECTIVE, WHAT YOU'VE ADDED TO THAT IN THESE, IN THE PHASE INFORMATION THAT YOU PRESENTED IS MORE HELPFUL THAN JUST LOOKING AT SPENDING CURVE. MM-HMM . UM, OUR TRACK RECORD IS THAT WE'VE LOOKED AT A LOT OF SPENDING CURVES AND EVERY ONE OF 'EM HAS SHOWN COMPLETION ON TIME AND HISTORY HAS NOT ALL, HISTORY HAS NOT ALWAYS BEEN TIED TO THOSE SPENDING CURVES. 2006, THIS LEVEL OF DETAIL FROM MY PERSPECTIVE, AND I'D LIKE TO HEAR FROM THE REST OF THE COMMISSION BECAUSE WE, WE'VE KIND OF BEEN SEARCHING FOR WHAT, WHAT ARE THE MOST HELPFUL INSTRUCTIONS WE CAN GIVE TO DEPARTMENTS WHO ARE COMING TO MAKE A PRESENTATION ON WHAT INFORMATION, YOU KNOW, TO INCLUDE. I [00:45:01] FEEL LIKE I'M, THERE MAY BE SOME TWEAKING TO WHAT YOU'VE DONE, BUT I, IN MY PERSONAL OPINION IS THIS LEVEL OF DETAIL IS MORE HELPFUL THAN JUST SEEING THE SPENDING CURVE. YEAH. ONE THING I MAY ADD, AND I'M TAKING OFF MY WATERSHED HUNT, I USED TO BE IN TRANSPORTATION AND DO A LOT OF SMALL PROJECTS LIKE SIDEWALKS AND THINGS OF THAT NATURE. WE HAVE, UH, WE HAVE A LOT OF LARGE PROJECTS, SO IT'S A LITTLE BIT EASIER TO SAY THIS IS EXACTLY WHERE WE ARE ON THESE. I THINK IF I WAS IN, YOU KNOW, URBAN TRAILS LIKE I WAS BEFORE, THIS WOULD BE A LITTLE EASIER. 'CAUSE I CAN SAY, ALL RIGHT, WE HAVE SIX LARGE URBAN TRAIL PROJECTS, BUT IF I WAS SIDEWALKS, IT WOULD BE REALLY HARD TO SHOW THIS. 'CAUSE THEY'RE ALSO QUICK. YES, I HAVE, BUT MAYBE BOTH IF YOU HAVE LARGE PROJECTS THAT YOU CALL THOSE OUT AND THEN FOR THE SMALLER PROGRAMS YOU WOULD HAVE A SPENDING CURVE. BUT ON THE OTHER HAND, UH, THERE'S MORE FLEXIBILITY IN THOSE SMALLER PROJECTS TOO. YEAH. I MEAN THEY, UH, I KNOW IT TAKES SOME DESIGN, BUT IT DOESN'T TAKE A, YOU KNOW, IT DOESN'T TAKE YEARS DESIGN TO FIGURE OUT HOW TO LAY A SIDEWALK. BUT, SO, YOU KNOW, THERE, THERE IS A, THERE IS A TRADE OFF AND I THINK WE'VE SEEN MM-HMM . IN THOSE BOND PROPOSITIONS THAT HAVE LIKE TRANSPORTATION, THAT HAVE A NUMBER OF SMALL PROJECTS. THOSE ARE THE HARDEST, I THINK, TO WRAP YOUR HEAD AROUND MM-HMM . IN TERMS OF WHERE ARE WE? AND, UM, SO I GUESS ONE SIZE DIDN'T FIT ALL, BUT I THINK THIS IS, OR IT'S A COMBINATION. IT'S MORE HELPFUL INFORMATION. I'M GLAD IT WAS HELPFUL. THE, YEAH. THE OTHER THING ABOUT SPENDING PLANS IS IT'S, IT'S, IT'S A SNAPSHOT IN TIME. THERE'S THINGS ARE USUALLY DONE IN SPRING MM-HMM . AND BY THE TIME WE GET AROUND TO, YOU KNOW, LATER IN THE FISCAL YEAR, A LOT HAS GONE, UH, YOU KNOW, ON WITH THESE PROJECTS. YOU KNOW, AND SOME, SOMETIMES THEY ARE DELAYED FOR VARIOUS REASONS. SO IT'S REALLY HARD TO, UM, TO USE SPENDING PLANS TO, TO, YOU KNOW, ONCE YOU GET FURTHER INTO THE FISCAL YEAR TO ACCURATELY PREDICT ANYTHING. 'CAUSE THE, YOU KNOW, JUST A SNAP IN TIME. BUT ONE, ONE OF THE ISSUES THAT WE'VE TALKED ABOUT IS IN HOW WE CAN, UM, HOW WE CAN GET A BETTER HANDLE ON THOSE LITTLE THINGS THAT FOR THINGS, WHAT PART OF THE PROCESS IS NOT WORKING THE WORKS, WHAT PART OF THE PROCESS DO WE NEED TO BE FOCUSED ON? YOU KNOW, WE'RE GOING THROUGH THE ISSUE RIGHT NOW OF A BOND ELECTION THAT EVERYBODY WANTED IN 2024 AND WE'RE HOPING TO HAVE IN 2026. AND SO HOW CAN WE, THE CITY'S GONE THROUGH THAT BEFORE IN AROUND 2000 WHERE THEY WERE BEHIND IN THE CAPITAL SPENDING PROGRAM. HOW CAN WE SPOT THOSE PHASES THAT PROJECTS GO THROUGH THAT ARE CAUSING THE MOST TROUBLE, THAT MORE RESOURCE NEEDS TO BE PUT ON? AND, YOU KNOW, HOW CAN WE GET THAT OVERVIEW OF THE WHOLE ISSUE BEFORE WE SLIP BEHIND? SO TO ME, THE KNOWING SOMETHING ABOUT THE PHASES IS, IS AN ADDITIONAL PIECE OF INFORMATION THAT I THINK WOULD IT, IS, WOULD BE HELPFUL. AND IF SO, THEN I'D LIKE TO SEE US, YOU KNOW, GIVING DEPARTMENTS A HEADS UP, YOU KNOW, HOW THEY CAN, HOW THEY CAN MAKE THE MOST USEFUL PRESENTATION, UM, TO INCLUDE THOSE, THAT PHASE INFORMATION. YEAH, I THINK THAT'S ONE PIECE OF IT. AND I THINK ESPECIALLY EARLY IN THE PROCESS OF A PROJECT, KIND OF KNOWING IF THERE ARE PROJECTS THAT HAVE SIGNIFICANT RISKS, LIKE, YOU KNOW, YOU HAVE A LOT OF PROPERTY ACQUISITION OR YOU'RE, UH, GONNA WORK WITH TXDOT, THAT'S KIND OF HOW WE'RE LOOKING AT THE, UH, POSSIBLE FUTURE 2026 BOND IS WHICH ONES ARE THE MOST READY AND WHICH ONES HAVE THE LEAST AMOUNT OF RISK. WE COULD HAVE TWO PROJECTS THAT ARE BOTH MAYBE AT THE SAME 60% DESIGN, BUT THIS ONE IS GONNA HAVE A LOT OF ACQUISITION. WE KNOW THAT THIS ONE IS GONNA BE WORKING WITH AE OR THIS ALL THESE OTHER GROUPS. SO LIKE THIS ONE IS MAYBE SINCE IT'S HIGHER RISK THAN THIS ONE THAT THIS ONE'S MORE READY. UM, SO I THINK THAT'S ANOTHER WAY THAT YOU COULD BE LOOKING AT THOSE. SORRY TO PIPE IN . NO, I, I, YEAH, I APPRECIATE THAT. AGREE. ISN'T THAT SOMETHING THAT THAT STAFF TAKES INTO CONSIDERATION IN DOING THE CIP? YES. THAT YOU PHASE IT OUT? UH, I MEAN, HOPEFULLY WE WOULD NOT DO A SPENDING PLAN, YOU KNOW, LIKE MAYBE FOR TO LANES ON MOPAC AND THEN DISCOVER THAT THERE WAS LIMESTONE . SURE. . [00:50:01] ANYWAY. OKAY. ANY, ANY OTHER QUESTIONS? YEAH, I'VE GOT ONE CHAIR. UM, JUST FOR THE SAKE OF, OF UH, GETTING TO KNOW A BIT MORE ABOUT, UM, THE DESIGN PIECE. WHAT, WHAT DOES A LARGE SCALE PROJECT, UM, COST TO DESIGN? I'M JUST CURIOUS. UM, IT ALL DEPENDS ON THE SIZE OF THE PROJECT. I MEAN, IF IT'S A $4 MILLION PROJECT, IT COULD BE 10% OF THAT IS DESIGNED. OKAY. YOU KNOW, SIMILARLY, IF IT'S A $65 MILLION PROJECT, IT COULD BE 6 MILLION. UM, YOU KNOW, USUALLY YOU GET BETTER ECONOMIES OF SCALE AS THEY GET LARGER. BUT IT DEPENDS ON THE COMPLEXITY AND THE DIFFERENT PIECES OF IT. YEAH. IF THERE'S DIFFERENT PHASES WITHIN THAT, UM, IF THERE'S DIFFERENT UTILITIES, THERE'S A BUNCH OF DIFFERENT THINGS THAT CAN GO INTO THOSE COSTS. INTERESTING. AND THEN YOU, YOU MAY HAVE TOUCHED ON THIS EARLIER, BUT THIS, UM, THERE WAS AN EIGHT YEAR, UH, VOTER COMMITMENT, CORRECT? CORRECT. AND HOW ARE WE TRACKING FOR THAT? UM, HOW ARE WE TRACKING TO SPEND OUT ON IT? YEAH, I THINK WE'RE VERY CLOSE. UM, THE GOAL WOULD BE BY THE END OF FISCAL YEAR 2026, I THINK WE HAVE, UH, I'D HAVE TO LOOK AT THE CHART AGAIN, BUT SEVEN TO 10 MILLION WOULD BE, UH, IS WHAT'S IN OUR SPENDING PLANS IS LEFT. BUT THOSE ARE ALSO CONSERVATIVE AND WE'RE PUSHING REALLY HARD TO TRY TO SEE IF WE CAN GET IT ALL SPENT OUT. UM, AS WE MENTIONED, ALMOST ALL OF IT EXCEPT FOR 8 MILLION ARE ALREADY IN CONTRACTS CURRENTLY BEING SPENT ON, WE HAVE SIX, YEAH. SIX OF THEM THAT ARE IN CONSTRUCTION RIGHT NOW. UM, SO WE'RE SPENDING MONEY QUICKLY AT THIS POINT. OKAY. THANK YOU VERY MUCH. AND MORE IMPORTANTLY, GETTING RESULTS QUICKLY, THE RESULTS. YEAH, THAT'S RIGHT. ANYBODY ELSE? UM, ACTUALLY JUST FOR, UH, PERSONAL CLARIFICATION, UM, AT WHAT PART OF THE PROCESS ARE THE BUYOUTS BEING DONE? I'M HOPING AFTER DESIGN, BUT I'M JUST KIND OF CURIOUS. WE'RE IN THE PHASE. YEAH. SO WHEN WE LOOK AT, UH, FEASIBILITY OF PROJECTS, BUYOUTS COULD BE ONE OF OUR, OUR WAYS THAT WE COULD ADDRESS IT. IF THERE'S NOT A STRUCTURAL SOLUTION AND THAT THERE AND BUYOUTS ARE MORE ON THE TABLE OF WE COULD EITHER THERE ISN'T A SOLUTION OR IT IS EXTREMELY, YOU KNOW, $500 MILLION TO SOLVE THIS, UM, THEN WE MAY LOOK AT OTHER WAYS WHICH COULD BE BUYOUTS. AND SO USUALLY WE DO OUR FEASIBILITY PER AND AROUND THAT STAGE WE WOULD BE ABLE TO SAY, OKAY, THERE ISN'T, UH, A GOOD OPTION TO MOVE FORWARD. UM, ALTHOUGH WE TRY NOT TO DO BUYOUTS, WE KNOW THAT IT IS IMPACTFUL TO THE COMMUNITY. UM, BUT SOMETIMES THAT, THAT IS THE BEST SOLUTION TO THE PROBLEM. YEAH. WELL FOR THOSE SITUATIONS WHERE A BUYOUT IS NECESSARY FOR A PROJECT WITH CONSTRUCTION MM-HMM . WHERE DOES THAT KIND OF LIE BETWEEN DESIGN AND CONSTRUCTION? LIKE IS THAT, YOU KNOW, SOMETHING'S DESIGNED, YOU FIGURE OUT THERE'S A PROPERTY IN THE WAY OR SOMETHING LIKE THAT? YEAH, SO IF IT'S PART OF A PROJECT THAT WE'RE ALSO DOING A SOLUTION, THEN IT WOULD BE DURING THE DESIGN PHASE. AND THAT'S USUALLY MORE OF A, A ACQUISITION OF A EASEMENT OR A PARTIAL ACQUISITION. UM, THERE HAVE BEEN TIMES WHERE WE TAKE, WE WOULD BE ABLE TO ACQUIRE ONE OF THE HOMES THAT HAVE LIKE THE GREATEST, UH, IMPACT AND USE THAT SPACE TO HELP OUR PROJECTS MOVE FORWARD. UM, BUT IT DEPENDS. IF IT'S COMPLETE BUYOUT, THEN WE WOULDN'T GET INTO THE DESIGN PHASE. WE WOULD JUST START THE ACQUISITION AND START WORKING WITH REAL ESTATE. RIGHT. THEN IF, IF THERE IS NO, UH, CONSTRUCTION PIECE TO THE PROJECT. THANK YOU. YEAH. YEAH. AND I LIVED IN ON NEW CREEK FOR THE LAST 25 YEARS, , SO YOU'RE FAMILIAR IN THE SUB? OH, YES, YES. VERY. BUT THANK YOU. OF COURSE. I'M GLAD THAT ALL GOT TAKEN CARE OF. YEAH. ANYBODY ELSE? OKAY, WELL THANK YOU ALL VERY MUCH. THAT WAS A VERY, VERY USEFUL PRESENTATION. YEAH. APPRECIATE IT. THANK YOU. THANK YOU. YEAH, THANKS. OKAY, THE NEXT ONE HAS TO DO WITH [4. Discussion on the 2026 Bond Election Advisory Task Force recent meeting items] THE DISCUSSION OF THE, UH, BOND ELECTION ADVISORY TASK FORCE, THE B-E-A-T-F. YEAH. . DO WE HAVE ANY NEWS ON THAT FRONT? UM, FROM MY PERSONAL PERSPECTIVE, THE, THE, THE MAIN PIECE OF NEWS IS WHAT I KIND OF REFERENCED. MM-HMM . THERE WAS A, A PRESENTATION BY, UH, FINANCE THAT SAID, BASED ON THEIR PROJECTIONS, UM, WE, BY 2026, WE WOULD HAVE SOLD BONDS TO THE POINT THAT ARE AUTHORIZED, BUT UNISSUED WOULD MEET THE FINANCIAL POLICY FOR HAVING A BOND ELECTION. THAT WAS THE BOTTOM LINE. THAT'S THE BOTTOM LINE. YEAH. , [00:55:01] IT TOOK LONGER TO SAY IT, BUT THAT WAS . WAS THAT THE MAIN SORT OF DECIDING FACTOR IN MAKING A 26 ELECTION VERSUS A 24 ELECTION? YES. UH, WHEN, WHEN THERE WAS A LOT OF, YOU KNOW, A LOT OF, UH, PUSH FOR 2024 ELECTION FROM A VARIETY OF DIFFERENT INTERESTS, PROJECTS THAT WERE READY TO GO AND UM, THAT SORT OF THING. BUT THE CITY DOES HAVE A FINANCIAL POLICY THAT SAYS YOU WON'T HAVE A BOND ELECTION UNTIL YOU REACH THE POINT WHERE YOU'RE AUTHORIZED, BUT UN ISSUED, YOU KNOW, IS SOMETHING THAT YOU CAN SELL WITHIN X NUMBER OF YEARS. AND THE REASON FOR THE FINANCIAL POLICY IS THAT THAT'S ONE OF THE THINGS RATING AGENCIES LOOK AT, YOU KNOW, ARE ARE YOU BUILDING TOO MUCH AUTHORIZED, BUT UNISSUED DEBT THAT YOU GET IS THERE, YOU KNOW, A BALLOON THERE THAT, UM, IS GONNA CAUSE A FINANCIAL STABILITY PROBLEM EVEN WITH THE SPECIAL INTERESTS PUSHING THE FINANCE DEPARTMENT COMES THROUGH . WELL, THE INTERESTING THING ABOUT FINANCIAL POLICIES IS THAT THEY'RE ADOPTED BY COUNCIL THERE, WHICH MEANS THEY'RE DONE BY A MAJORITY VOTE AND CAN BE CHANGED BY A MAJORITY VOTE. AND THERE'S NO, UM, PENALTY FOR NOT GOING WITH THE FINANCIAL POLICY, BUT THEY'RE MID, THEY'RE PUT THERE. IT IS NOT JUST FOR BOND SALES, IT'S FOR A NUMBER OF DIFFERENT FINANCIAL GUIDELINES, UH, ABOUT THE BUDGET. BUT THEY'RE PUT THERE AS KIND OF A RED FLAG TO SAY, IF YOU GET TO THE POINT WHERE YOU'RE CONSIDERING SOMETHING THAT WOULD BE IN VIOLATION OF FINANCIAL POLICY, MAYBE YOU OUGHT TO STOP AND LOOK AT, UH, WHETHER WHAT YOU'RE PROPOSING TO DO MAKES SENSE OR NOT. MM-HMM . AND THOSE ARE PRINTED IN THE BUDGET EVERY YEAR. ONLY THING I MIGHT ADD, UM, UH, IS THERE WAS A REQUEST FOR PUBLIC INPUT VIA A SURVEY THAT'S GONE OUT AS WELL. SO I THINK THERE'S FIVE DAYS LEFT, UH, IN THE SURVEY PERIOD. I DUNNO, NICOLE MAYBE CAN SEND IT OUT TO THE BOND OVERSIGHT COMMISSION FOLKS TO SEND TO THEIR MEMBERS, UM, AND JUST KIND OF GET IT OUT INTO THE WORLD. I THINK WE WERE LOOKING TO GET A THOUSAND, WE HAD 700 SOMETHING RESPONSE. I'LL TRY. I HAVEN'T FILLED THAT OUT YET, BUT I WILL. BUT I WILL. I SAW IT THE OTHER DAY. ANYBODY ELSE HAVE ANYTHING? JC DO YOU HAVE ANYTHING? OKAY. YEAH, THE ONLY PIECE OF INFORMATION I WANT TO SHARE, WHICH RELATES TO CHARLES'S COMMENTS ON THE FINANCIAL POLICIES WAS THAT WE DID GET, UH, AN OFFICIAL RECOMMENDATION, I THINK FROM THE FINANCIAL SERVICES FOLKS OF A TOP LINE OF ABOUT $750 MILLION, UH, FOR THE 2026 FUND. AND AGAIN, THAT WAS BASED ON THE TOTAL OUTLYING BOND THAT'S, THAT'S THAT'S OUT THERE ALREADY AND THE PER CAPITA BOND, UM, AND HOW THAT WOULD AFFECT OUR BOND RATING AS A CITY. THAT NUMBER IS FLEXIBLE, WE WERE TOLD. UM, BUT IT'S SORT OF A PLACEHOLDER FOR NOW. THAT'S WHAT WE'RE GONNA BE SHOOTING AT FOR A TOTAL AMOUNT FOR 2026 AND EVERYTHING IS SUPPOSED TO FIT UNDER THERE. UM, THERE HASN'T BEEN A LOT OF SUBSTANCE TO OUR MEETINGS OTHER THAN THAT SO FAR. SO BECAUSE WE'VE BEEN MEETING, UM, THE CITY TO PROVIDE A, A LIST OF BOND ELIGIBLE PROJECTS AS WELL AS, UH, THEIR SORT OF CRITERIA MATRIX FOR RANKING THOSE. UM, BUT ONCE THAT COMES OUT, I THINK IN THE NEXT MONTH OR TWO WE WILL HAVE MORE TO REPORT. WE HAVE BROKEN OUT INTO WORKING GROUPS WHO ARE SUPPOSED TO TACKLE THE VARIOUS SORT OF PILLARS OF THE BOND. AND UM, YEAH, I THINK, UM, ONE OTHER THING I'D MENTIONED IS, IS THAT THERE MAY BE SOME OPPORTUNITIES FOR THIS COMMISSION AND THE TASK FORCE TO WORK TOGETHER. UM, YOU KNOW, THIS, THIS COMMISSION WE, WE SERVE AS, AS SORT OF AN OVERSIGHT MECHANISM. WE TAKE THE ROLE OF, OF CRITICS. UH, AND THOSE OF US WHO ARE SERVING ON THE TASK FORCE, UH, TAKE A ROLE AS CHEERLEADERS OF THIS SORT FOR THE BOND THAT WE'RE GONNA BE RECOMMENDING TO, UM, CITY HALL AND WILL HOPEFULLY APPEAR ON THE PAL. UH, TO THAT END, THERE ARE SOME, I KNOW ON THE TASK FORCE WHO ARE INTERESTED IN GETTING AHEAD OF ANY OPPOSITION TO THE BOND THAT'S GONNA BE ON THE BALLOT. AND ONE OF THE ADMITTEDLY REDUCTIVE TALKING POINTS THAT THAT OPPOSITION MAY TAKE IS THE AMOUNT OF UNSPENT OR UN OBLIGATED BOND FUNDING THAT'S ALREADY OUT THERE. UM, AND SO TO THE EXTENT THAT MAYBE ON THE SERVING ON BOTH COMMISSIONS OR MAYBE THIS COMMISSION AS A WHOLE COULD WORK WITH CAPITAL LIBERTY SERVICES TO SORT OF PUT TOGETHER AN OVERVIEW. [01:00:01] I KNOW CHARLES, YOU SAID A A SPEND DOWN CHART IS, IS MAYBE TOO OVERLY SIMPLISTIC, UH, BUT SOMETHING TO HELP SWITCH THOSE, UH, CONCERNS AND, AND TALKING POINTS ESSENTIALLY TO LOOP ON TASK FORCE MEMBERS AS TO YOU KNOW, WHAT'S GOING WELL AND HOW MUCH MORE WE HAVE TO SPEND, HOW MUCH MORE WE HAVE TO PRODUCE SO THAT THE PUBLIC FEELS READY TO TAKE ON MORE DEBT. YEAH. I THINK TO THAT END AS WELL, THE, UM, IT SEEMS LIKE THERE WERE A LOT OF CHALLENGES TO HELP US ACHIEVE OUR, OUR SPENDING GOALS, RIGHT? AND SO IT WOULD BE GOOD TO OUTLINE WHAT THOSE CHALLENGES WERE AND WHERE WE ARE TODAY. UM, YOU KNOW, THINGS LIKE VENDOR SHORTAGES, UM, YOU KNOW, ET CETERA. COVID, COVID, COVID. YEAH. WELL, AND, AND I MEAN WE TALKED ABOUT, BUT ONE OF THE BIG CHALLENGES THAT WE'VE SEEN OVER AND OVER AGAIN WAS THAT BOND PROJECTS GO ON A BOND ELECTION THAT ARE MORE DREAMS THAN PROJECTS. UM, AND THAT MEANS THERE'S NO REAL CONCEPT OF THE DESIGN. THERE'S NOT EVEN AN AGREEMENT ON EXACTLY WHAT THIS MEANS. AND THOSE PROJECTS WE'VE SEEN OVER AND OVER AND OVER AGAIN ARE THE ONES THAT TAKE AN EXTRAORDINARY AMOUNT OF TIME FOR DESIGN AND THEREFORE GET BEHIND IN TERMS OF, OF COMPLETION ON TIME. AND WE'VE TALKED ABOUT THAT. BUT I THINK IN PART THAT IS, AS WE SAW IN THE LAST PRESENTATION, THE CITY IS TRYING TO ADDRESS THAT BY SPENDING MONEY UPFRONT ON DESIGN SO THAT THEY CAN FOCUS. AND I THINK THE TASK FORCE HAS BEEN, UM, REPEATEDLY TOLD THAT WE NEED TO FOCUS ON THOSE PROJECTS THAT ARE READY TO GO. UH, AND THAT THAT'S ONE OF THE CRITERIA, UH, THAT HOPEFULLY WILL STAY FRONT AND CENTER AS THE DECISIONS ARE MADE ON WHAT PROJECTS ACTUALLY GO INTO THE BOND ELECTION. UM, NO SIR, NOTHING ELSE. WAS THERE A ? YEP. YES SIR. I DID SEND THE, UM, 20, THE MAY, 2024, UM, BOND ELECTION ADVISORY TASK FORCE VIDEO OUT TO THE COLE GROUP. SO I DON'T KNOW. YES SIR. IF YOU HAVE ANY PROBLEMS, LET ME KNOW. THANKS. OKAY. UH, FUTURE AGENDA [FUTURE AGENDA ITEMS ] ITEMS. DOES ANYBODY HAVE ANY SUGGESTIONS? 'CAUSE I, I KNOW RIGHT NOW WE DON'T HAVE ANYTHING UP FOR AUGUST, SO WHAT'S ON THE DOCKET FOR JULY? OR ARE WE OH, WE'RE, WE'RE NOT MEETING IN JULY. WE'RE, WE'RE ON JULY. OKAY. DECEMBER BREAK. WOULD IT MAKE SENSE, UH, PRESUMABLY THE TASK FORCE IS GONNA GET A LIST OF STAFF PROPOSED PROJECTS IN THE NEXT MONTH OR SO. IS THAT SOMETHING THAT THE BOND OVERSIGHT COMMISSION WANTS TO EVEN LOOK AT? I REMEMBER LOOKING AT IT WHEN I WAS ON THAT TASK FORCE , AS COMMISSIONER RODRIGUEZ REMEMBERS WELL, TOO, BUT YEAH, I, I SEEM TO RECALL TOO, LIKE A SURGE OF PROJECTS THAT CAME OUT FROM THE VARIOUS DISTRICTS, UM, THAT WEREN'T NECESSARILY ON THE NEEDS ASSESSMENT. RIGHT, RIGHT. SO CULTURAL ARTS PROJECTS, UM, YOU KNOW, THINGS OF THAT. UM, SO JUST BE PREPARED RIGHT. FOR THE LIST TO, TO EXPAND BASED ON, UH, FEEDBACK. BEEN THERE AND DONE THAT. AND I'M VERY AWARE , BUT THIS WILL BE AT LEAST THE STAFF LIST THAT SO FAR WE HAVE NOT YET SEEN, BUT IT WILL BE, I THINK COMING IN THE NEXT MONTH. YEAH. I DON'T KNOW WHETHER, OKAY. THAT'S SOMETHING THE OVERSIGHT COMMISSION MUST LOOK AT OR MAKING YOU AWARE THAT IT'LL BE OUT THERE. [01:05:01] WOULD YOU LIKE TO PUT, PUT THAT ON THE AUGUST MEETING IF IT'S AVAILABLE AND HAS BEEN VETTED AND APPROVED. OKAY. ALRIGHT. AND THEN, UH, UNLESS ANYBODY ELSE HAS ANYTHING ELSE, UNLESS THERE ARE ANY OBJECTIONS, I THINK WE, I THINK WE'RE ADJOURNED UNTIL AUGUST. OH, YOU KNOW WHAT, I, I DID HAVE ONE OTHER THING, APOLOGIES. SURE. UM, I BELIEVE WE HAVE AN ANNUAL REPORT DUE AND, AND YES. IS IT JULY OR AUGUST? YEAH. WORKING ON IT. OKAY, GOOD DEAL. YEAH, JUST WANTED TO CALL IT OUT. ALRIGHT, THANKS. ALRIGHT. THANK YOU EVERYBODY. THANK YOU. ALRIGHT, THANK YOU. THANK YOU. * This transcript was created by voice-to-text technology. The transcript has not been edited for errors or omissions, it is for reference only and is not the official minutes of the meeting.