The purpose of this agenda item is for Council and Staff to discuss the recommended bond program's propositions, projects, financing, and process.
On November 27, 2018, the Council appointed 28 community members to the Community Bond Advisory Committee whose stated purpose was:
- To assess and review information related to proposed future capital projects;
- To provide input in developing a final list of projects;
- To make a recommendation to Council concerning whether a bond election should be called and, if so, what projects should be included; and,
- To serve as community advocates for the bond program election, if Council decides to call an election.
The Council charged the Committee with making a recommendation as to whether a bond election should be held in November 2019. In order to accomplish this, the Committee sought to answer three questions:
- Should a bond election be held?
- If so, what projects should be included?
- What are the recommended propositions?
The Committee met a total of nine times from January to May 2019. During those meetings, staff presented the Committee with information about twenty-one proposed projects to improve the Town's infrastructure. The proposed projects covered the areas of information technology, parks and recreation, buildings systems, roads, and land acquisition. Staff also provided estimated project costs and the asset condition scores from the Asset Management Report, where applicable.
The Committee then ranked the proposed projects according to the criteria the Committee had developed. Once ranked, the Committee chose 15 projects that they believe should be included in a bond program. These projects were also divided into five proposed propositions. The total cost of the recommended projects is $85,620,002.
- Proposition 1 - Roads (East West) $22,900,000
- Proposition 2 - Roads (North South) $33,602,000
- Proposition 3 - Buildings $7,395,000
- Proposition 4 - Recreation and Lifestyle $6,723,002
- Proposition 5 - Investment in the Future $15,000,000
The Committee's final report was presented to Council by Community Bond Advisory Committee Chair Ralph Doherty on June 11, 2019 during a City Council Work Session.
The attached presentation is intended to help Council and community members understand how the recommended bond propositions were identified, how their associated projects were selected and prioritized, and how the cost estimates for the various projects were developed. Future presentations will focus on the financial impact of the recommended bond program, the bond election process and timing, and how bond information will be communicated to residents.
This and future presentations are intended to facilitate discussion, provide information, and answer questions in order for the City Council to decide whether or not to call for a bond election.
Information about the Bond Advisory Committee's meetings can be found on the Town's website by visiting: https://addisontexas.net/bc/community-bond-advisory-committee |