Agenda

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Item # 5.

Work Session and Regular Meeting

Meeting Date:	07/09/2019
Department:	City Manager
Milestones:	Continuously improve processes and policies to include the voice of the customer and ensure the policies are easily accessible

AGENDA CAPTION:

Present and Discuss the Addison Community Bond Advisory Committee's Final Report on a Recommendation for a Bond Program and Review the Program's Propositions, Projects, Financing, and Process.

BACKGROUND:

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 Committee met a total of nine times from January to May 2019. 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 attached presentation is intended to help Council and community members understand the recommended bond propositions, the estimated project costs, 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

RECOMMENDATION:

Staff requests direction from Council.

Attachments
Presentation - Bond Projects and Financial Considerations