BOND OVERSIGHT COMMISSION April 20, 2022, 2:00 P.M. to 4:00 P.M. Austin City Hall, Boards and Commissions Room 1101 301 W 2nd Street, Austin, TX 78701 Some members of the Bond Oversight Commission may be participating by videoconference. The meeting may be viewed online at: http://www.austintexas.gov/page/watch-atxn-live. CURRENT BOARD MEMBERS: Santiago Rodriguez, Chair Sumit DasGupta, Vice Chair Charles Curry Michael Drohan Stephen Gonzalez Francoise Luca John McNabb Wolfgang Niedert Kristin Weaver Nicole Wren AGENDA Public comment will be allowed in-person or remotely by telephone. Speakers may only register to speak on an item once either in-person or remotely and will be allowed up to three minutes to provide their comments. Registration no later than noon the day before the meeting is required for remote participation. To register, call or email the board liaison, Tina Van Wie, at (512) 974-7921 or Tina.VanWie@austintexas.gov CALL TO ORDER PUBLIC COMMUNICATION: GENERAL The first 10 speakers who register to speak no later than noon the day before the meeting will be allowed a three-minute allotment to address their concerns regarding items not posted on the agenda. 1. APPROVAL OF MINUTES a. Approval of the minutes from the March 16, 2022 Bond Oversight Commission meeting 2. DISCUSSION a. Introduction of a newly appointed member to the Bond Oversight Commission 3. STAFF BRIEFINGS program a. Staff briefing from the Fire and EMS Departments related to the 2018 bond b. Staff briefing from the Financial Services Department related to Public Improvement Bonds for the Capital Improvement Program. 4. DISCUSSION AND POSSIBLE ACTION a. Discussion and possible action on the election of new officers b. Discussion and possible action related to the FY2022-23 budget process and Commission budget recommendations 5. FUTURE AGENDA ITEMS ADJOURNMENT The City of Austin is committed to compliance with the American with Disabilities Act. Reasonable modifications and equal access to communications will be provided upon request. Meeting locations are planned with wheelchair access. If requiring Sign Language Interpreters or alternative formats, please give notice at least 2 days (48 hours) before the meeting date. Please call Tina Van Wie, Financial Services Department, at 512-974-7921, for additional information; TTY users route through Relay Texas at 711. To speak remotely at the April 20, 2022 Bond Oversight Commission meeting, members of the public must: •Call or email the board liaison, Tina Van Wie, at (512) 974-7921 or Tina.VanWie@austintexas.gov no later than noon, April 19. The information required is …
Item 3b. Briefing on Public Improvement Bonds for the Capital Improvement Program B O N D OV E RS IGHT CO M M I SS ION A PR I L 20, 2022 PR ES E N TE D BY T I N A VA N W I E , B U D G E T M A N AGE R F I N ANC IAL S E RV I C ES D E PA RTM ENT Public Improvement Bonds (PIBs) – Funding History (1998-2020) s d n a s u o h T $1,000,000 $900,000 $800,000 $700,000 $600,000 $500,000 $400,000 $300,000 $200,000 $100,000 $0 339,740 163,400 567,400 925,000 720,000 600,000 306,648 460,000 8 9 9 1 9 9 9 1 0 0 0 2 1 0 0 2 2 0 0 2 3 0 0 2 4 0 0 2 5 0 0 2 6 0 0 2 7 0 0 2 8 0 0 2 9 0 0 2 0 1 0 2 1 1 0 2 2 1 0 2 3 1 0 2 4 1 0 2 5 1 0 2 6 1 0 2 7 1 0 2 8 1 0 2 9 1 0 2 0 2 0 2 Infrastructure Specific Failed Comprehensive Program 90,000 65,000 78,300 PIBs – Aggregate Authorization by Category (2006 – 2020) Affordable Housing, $370 , 12% Public Safety, $127 , 4% Health, $27 , 1% Libraries, Museums, Cultural, $263 , 8% Parks, $311 , 10% Transportation & Mobility, $1,676 , 54% $3.1 Billion Total PIB Authorization Drainage, Open Space, $359 , 11% Dollar amounts in millions. PIBs – Aggregate Balance Status by Category (2006-2020) Public Safety - $127.2 Park - $311.4 85.66 189.27 5.42 36.10 10.61 111.50 Mobility and Transportation - $1,676.4 586.90 117.86 971.64 Library, Museums and Cultural Facilities - $262.9 134.05 9.34 119.56 Health - $27.2 11.86 0.98 14.31 Drainage and Open Space - $359.0 Affordable Housing - $370.0 246.37 249.20 9.06 103.57 60.91 59.89 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Expenses Encumbrances Balance Dollar amounts in millions. Data through Q2 FY22 PIBs – Balance Status by Election Year (2006 -2020) 2020 - $460.0 3.0 15.6 2018 - $925.0 2016 - $720.0 2013 - $65.0 2012 - $306.6 2010 - $90.0 2006 - $567.4 Data through Q2 FY22 282.3 240.5 102.4 75.3 540.3 404.1 441.4 65.0 273.6 89.5 549.4 9.9 23.2 0.0 0.0 …
C I T Y O F A U S T I N | A p r i l 2 0 , 2 0 2 2 Bond Oversight Commission Bond Oversight Commission C I T Y O F A U S T I N | A p r i l 2 0 , 2 0 2 2 Bond Oversight Commission Bond Oversight Commission Our Goals The mayor and council shall work with the commission to set priorities and goals for each new bond issue to be submitted to the voters. Our Mission The commission shall monitor the city manager's plans relating to the issuance of bonds and the implementation of projects approved in bond Our Vision Ensure efficiency, equity, timeliness, and accountability in the implementation of existing and future City bond programs. elections, including the review of future potential bonds, the annual appropriation of bond funds, and any changes in the amount of bond funds issues or cash commitments made. The commission shall advise the council on proposed bonds and the implementation of projects approved in bond elections. C I T Y O F A U S T I N | A p r i l 2 0 , 2 0 2 2 Bond Oversight Commission Bond Oversight Commission 2018 BOND Proposition F – Public Safety (Fire and EMS) I T E M 3 a . PUBLIC SAFETY P r e s e n t e r s : W e s l e y H o p k i n s I n t e r i m A s s i s t a n t C h i e f A u s t i n T r a v i s C o u n t y E M S P e t e r T e l i h a D i v i s i o n C h i e f A u s t i n F i r e D e p a r t m e n t C I T Y O F A U S T I N | A p r i l 2 0 , 2 0 2 2 B o n d O v e r s i g h t C o m m i s s i o n | p g . 4 2018 BOND, PROPOSITION F Public Safety Fire and EMS The …
BOND OVERSIGHT COMMISSION APRIL 20, 2022 2:00 PM Austin City Hall, Boards and Commissions Room 1101 301 W 2nd Street, Austin, TX 78701 Some members of the Bond Oversight Commission participated by videoconference. The meeting may be viewed online at: http://www.austintexas.gov/page/watch-atxn-live. BOND OVERSIGHT COMMISSION MINUTES The Bond Oversight Commission convened in a regular meeting on April 20, 2022 with Social Distancing Modifications and some commissioners participating via WebEx conference. Chair Rodriguez called the meeting to order at 2:01 PM Board Members in Attendance: Santiago Rodriguez, Chair Sumit DasGupta, Vice-Chair Charles Curry Michael Drohan Kristin Weaver Nicole Wren Wolfgang Niedert Staff in Attendance: Tina Van Wie, Budget Wesley Hopkins, EMS Peter Teliha, AFD ___ CALL TO ORDER 1. APPROVAL OF MINUTES The minutes for the meeting of March 16, 2022 were approved with a motion by Commissioner Wren, Commissioner Niedert second on a 6-0 vote, with Commissioners DasGupta, Gonzalez, McNabb, and Luca absent. a. Introduction of a newly appointed member to the Bond Oversight Commission i. Newly appointed member Commissioner Gonzalez was not present at the 2. DISCUSSION meeting. 3. STAFF BRIEFINGS a. Staff briefing from the Fire and EMS Departments related to the 2018 bond Staff from the Public Safety Department provided a briefing to the commission with an update on the status of the 2018 bond regarding Austin Fire Department and EMS projects. They presented capital improvement project updates regarding various fire and EMS stations. AFD and EMS staff then took questions from commissioners. BOND OVERSIGHT COMMISSION MEETING MINUTES April 20, 2022 b. Staff briefing from Financial Services Department related to Public Improvement Bonds for the Capital Improvement Program Staff from the Financial Services Department briefed the commissioners on annual financial progress and spending plans for all bond packages in the capital improvement program. FSD staff then took questions from commissioners. Commissioner DasGupta joined the meeting during item 3b. 4. DISCUSSION AND POSSIBLE ACTION a. Discussion and possible action on the election of new officers Chair Rodriguez elected to continue service as Chair was approved with a motion by Commissioner DasGupta, Commissioner Niedert second on a 7-0 vote, with Commissioners Gonzalez, McNabb, and Luca absent. Vice-Chair DasGupta elected to continue to serve as Vice-Chair was approved with a motion by Chair Rodriguez, seconded and approved on a vote of 7-0 vote, with Commissioners Gonzalez, McNabb, and Luca absent. b. Discussion and possible action related to the FY 2022-23 budget …
FOLLOW UP QUESTION FROM THE APRIL 20, 2022 MEETING OF THE BOND OVERSIGHT COMMISSION Questions: How did we get in the position of running out of authority in one of the most demanded expenditure areas, affordable housing? Why would affordable housing run out of authorization before able to have another comprehensive bond election? Response: The 2018 General Obligation Bonds have been allocated to four distinct spending areas: Rental Housing Development Assistance, Ownership Housing Development Assistance, AHFC Land Acquisition, and Home Repair. Upon approval of the Bonds by the voters, Council adopted a 5-year spending plan for these four spending areas. Rental Housing Development Assistance (RHDA) and Ownership Housing Development Assistance (OHDA) have maintained their annual spending plans over the first three years of allocation. In the fourth year of the spending plan, Council elected to allocate both Year 4 and Year 5 allocations to respond to spending requests more rapidly. Staff has embraced this flexibility while acknowledging the need to ensure funds will be available through the end of FY22-23, the final year of the spend plan. With the addition of Project Connect funds, staff is confident that funds will remain available through the end of FY22-23; however, this funding may be GO Bonds or Project Connect funds. In contrast to RHDA and OHDA, the AHFC Land Acquisition funds were deployed in the first few years of the spend plan, to better respond to immediate needs and opportunities as they arose. Staff has acquired a variety of properties, including vacant land in seven different Council Districts, more than 20 single-family homes to be sold as part of the Community Land Trust, and three hotels for conversion to permanent supportive housing. Staff assumes the balance of the funds in this allocation will support one, possibly two, more acquisitions. The final allocation of GO Bonds has been to our GO Repair program, providing home repair loans to income qualified homeowners. These funds have been allocated to several non-profit organizations serving the Austin area as part of the Home Repair Coalition, such as meal on Wheels and More and Habitat for Humanity. These organizations will provide construction services and submit reimbursement draws accordingly. As these contracts will extend through FY22-23, staff does not expect these funds to be exhausted before then. ‐ Response from Jamey May – Acting Housing and Community Development Officer
