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Bond Oversight Commission – Sept. 16, 2020

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C I T Y O F A U S T I N | S e p t e m b e r 1 6 , 2 0 2 0 Bond Oversight Commission Bond Oversight Commission C I T Y O F A U S T I N | S e p t e m b e r 1 6 , 2 0 2 0 Bond Oversight Commission Bond Oversight Commission Our Vision Ensure efficiency, equity, timeliness, and accountability in the implementation of existing and future City bond programs. 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. The commission shall advise the council on proposed bonds and the implementation of projects approved in bond elections. 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 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. C I T Y O F A U S T I N | S e p t e m b e r 1 6 , 2 0 2 0 Bond Oversight Commission A G E N D A Bond Oversight Commission Neighborhood Housing & Community Development Presenter: Mandy DeMayo ITEM 2 – STAFF BRIEFINGS a. Affordable Housing 2013 BOND, Proposition 1 – Housing 2018 BOND, Proposition A – Affordable Housing b. Bond Oversight Commission Presentation Template Appendix Overview Presenter: Paige Warner, Financial Services – Budget Office C I T Y O F A U S T I N | S e p t e m b e r 1 6 , 2 0 2 0 Bond Oversight Commission I T E M 2 A . AFFORDABLE HOUSING Bond Oversight Commission 2013 BOND Proposition 1 – Housing 2018 BOND Proposition A – Affordable Hosing P r e s e n t e r : Mandy DeMayo Neighborhood Housing & Community Development C I T Y O F A U S T I N | S e p t e m b e r 1 6 , 2 0 2 0 | 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 . 5 2013 BOND, PROPOSITION 1 Affordable Housing The issuance of $65,000,000 affordable housing bonds and notes for constructing, renovating, improving, and equipping affordable housing for low- income persons and families; Bond Oversight Commission housing programs as may be permitted by law; and the levy of a tax sufficient to pay for the bonds acquiring land and interests in land and property necessary to do so; and funding affordable and notes. Time Line: Undefined • • Ballot language: • Voter-Info Flier: austintexas.gov/election/byrecord.cfm?eid=197 austintexas.gov/sites/default/files/files/Capital_Planning/Bond_Development/2013_Bond /FINAL_Affordable_Housing_Bond_Voter_Information_Flier.pdf C I T Y O F A U S T I N | S e p t e m b e r 1 6 , 2 0 2 0 | 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 . 6 2018 BOND, PROPOSITION A Affordable Housing The issuance of $250,000,000 in tax supported general obligation bonds and notes for planning, constructing, renovating, improving, and equipping affordable housing facilities Bond Oversight Commission for low income and moderate income persons and families, and acquiring land and interests in land and property necessary to do so, funding loans and grants for affordable housing, and funding affordable housing programs, as may be permitted by law; and the levy of a tax sufficient to pay for the bonds and notes. • • Time Line: Ballot language: 8 years austintexas.gov/edims/document.cfm?id=307013 • Contract with the Voters: austintexas.gov/edims/document.cfm?id=304077 C I T Y O F A U S T I N | S e p t e m b e r 1 6 , 2 0 2 0 | 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 . 7 2013 - PROPOSITION 1 Housing 2018 - PROPOSITION A Affordable Housing BOND BALANCES Voter-approved $65,000,000 Appropriated Bond Oversight Commission $101,000,000 $65,000,000 Appropriated Appropriated $2,249,787 $37,065,010 Encumbered 100% $250,000,000 40% Spent $62,615,387 Committed $64,865,174 100% Committed Available $134,826 Data thru Fiscal Year 2020 Q3 $29,825,816 $66,890,826 $183,109,174 27% Committed C I T Y O F A U S T I N | S e p t e m b e r 1 6 , 2 0 2 0 | 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 . 8 2013 BOND, PROPOSITION 1 – Affordable Housing SPENDING SUMMARY - $ Amount Available After Annual Spending $40.00 M Bond Oversight Commission $39.12 M $33.51 M $30.00 M $56.94 M $52.68 M $60.00 M $50.00 M $20.00 M $10.00 M $0.00 M $12.67 M $7.35 M FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 $2.16 M $0.02 M $0.02 M Year End Balance Projected Year End Balance Data thru Fiscal Year 2020 Q3 C I T Y O F A U S T I N | S e p t e m b e r 1 6 , 2 0 2 0 | 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 . 9 2018 BOND, PROPOSITION A – Affordable Housing SPENDING SUMMARY - $ Amount Available After Annual Spending $300.00 M $250.00 M $247.93 M $200.00 M Bond Oversight Commission $191.96 M $150.00 M $100.00 M $50.00 M $0.00 M $87.00 M $34.00 M $0.00 M FY19 FY20 FY21 FY22 FY23 FY24 FY25 Year End Balance Projected Year End Balance Data thru Fiscal Year 2020 Q3 C I T Y O F A U S T I N | S e p t e m b e r 1 6 , 2 0 2 0 | 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 . 1 0 Bond Oversight Commission austin.maps.arcgis.com/apps/MapSeries/index.html?appid=b689c16a4db143698166b57a7abb876e C I T Y O F A U S T I N | S e p t e m b e r 1 6 , 2 0 2 0 | 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 . 1 1 RECENTLY DEVELOPMENTS Bond Oversight Commission Aldrich 51 Housing First Oak Springs Vi Collina The Chicon 11 C I T Y O F A U S T I N | S e p t e m b e r 1 6 , 2 0 2 0 | 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 . 1 2 Bond Oversight Commission austin.maps.arcgis.com/apps/MapSeries/index.html?appid=b689c16a4db143698166b57a7abb876e C I T Y O F A U S T I N | S e p t e m b e r 1 6 , 2 0 2 0 | 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 . 1 3 Bond Oversight Commission C I T Y O F A U S T I N | S e p t e m b e r 1 6 , 2 0 2 0 | 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 . 1 4 Bond Oversight Commission C I T Y O F A U S T I N | S e p t e m b e r 1 6 , 2 0 2 0 | 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 . 1 5 A F F O R D A B L E H O U S I N G UPCOMING HIGHLIGHTS RESOURCES • AHFC Board Meeting (November 12, 2020) Recommendations for First Quarter FY20-21 HDA Applications • Affordable Housing Development Assistance http://www.austintexas.gov/page/affordable- housing-development-funding Bond Oversight Commission • AHFC FY2020-2021 Capital Budget http://www.austintexas.gov/department/city- council/2020/20200812-ahfc.htm • November 2020 Grand Opening Waterloo Terrace (132-unit Foundation Communities Single Room Occupancy Development, with dedicated CoC units) • November/December 2020 Grand Opening AHA! @ Briarcliff (27-unit accessible, affordable, and integrated development) • Affordable Housing + Transit Online Tool: https://austin.maps.arcgis.com/apps/MapSeries/ind ex.html?appid=b689c16a4db143698166b57a7abb8 76e C I T Y O F A U S T I N | S e p t e m b e r 1 6 , 2 0 2 0 Bond Oversight Commission Q U E S T I O N S Bond Oversight Commission P r e s e n t e r : Mandy DeMayo Neighborhood Housing & Community Development C I T Y O F A U S T I N | S e p t e m b e r 1 6 , 2 0 2 0 Bond Oversight Commission I T E M 2 B . Bond Oversight Commission Appendix Overview B o n d O v e r s i g h t C o m m i s s i o n P r e s e n t a t i o n T e m p l a t e P r e s e n t e r : Paige Warner Financial Services – Budget Office C I T Y O F A U S T I N | S e p t e m b e r 1 6 , 2 0 2 0 Bond Oversight Commission Bond Oversight Commission Dataset A G E N D A APPENDIX OVERVIEW A. Austin Finance Online B. Capital Projects Explorer C. Public Improvement Bonds Overview D. City of Austin Open Budget: Capital E. F. Groups that may provide oversight Long-Range CIP Strategic Plan over capital projects G. Bond Program Links C I T Y O F A U S T I N | S e p t e m b e r 1 6 , 2 0 2 0 | 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 . 1 9 APPENDIX A: Austin Finance Online austintexas.gov/financeonline/finance/ A central repository for financial documents and information, including performance management, checkbook, unclaimed property, procurement, and hotels/short term rental information. Bond Oversight Commission KEY DOCUMENTS • Capital Improvement Program (CIP) 5-Year Plans • Capital Projects Explorer • Comprehensive Annual Financial Report (CAFR) • Debt Transparency Documents • Bond Statements C I T Y O F A U S T I N | S e p t e m b e r 1 6 , 2 0 2 0 | 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 . 2 0 APPENDIX B: Capital Projects Explorer A single entry point for the community of Austin to find information about capital infrastructure investments Bond Oversight Commission Type capitalprojects.austintexas.gov • Information for ALL capital projects (excluding Austin Energy), regardless of funding source • Description • • Status/Phase Location • • Districts • Contact Info • Approved Budget • Obligated Funds • Anticipated Construction Start and End Dates • Filters Available • 2016 and 2018 Bonds • District(s) • • Stage • Responsible Department Infrastructure Type C I T Y O F A U S T I N | S e p t e m b e r 1 6 , 2 0 2 0 | 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 . 2 1 APPENDIX C: Public Improvement Bonds Overview data.austintexas.gov/Budget-and-Finance/Public-Improvement-Bonds-Overview/s39q-8hvy/data An overview of public improvement bond project financial data that is updated on the first of every month Bond Oversight Commission • Public Contact and Phone # Information for Public Improvement Bond Projects • Bond Year (since 1998) • Proposition • Prop Name • Bond Category • • Bond Prop Amount • Project ID • Project Name • Project Open/Close Fund • Project Manager and Status Phone # • Project Current Phase • Bond Appropriation • Bond Encumbrance • Bond Expenditures • Bond Obligated • Bond Balance • % Bond Appropriation • % Bond Amount C I T Y O F A U S T I N | S e p t e m b e r 1 6 , 2 0 2 0 | 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 . 2 2 APPENDIX D: City of Austin Open Budget - Capital budget.austintexas.gov/#!/year/All%20Years/capital/0/fdu_sponsor_department Data that provides appropriation-to-date and expenses-to-date metrics for active capital projects, which can be funded through multiple fiscal year capital budgets. Interactive tool with appropriation Bond Oversight Commission and expense data for: Departments Projects Subprojects C I T Y O F A U S T I N | S e p t e m b e r 1 6 , 2 0 2 0 | 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 . 2 3 APPENDIX E: Long Range CIP Strategic Plan austintexas.gov/department/long-range-cip-strategic-plan Plan that looks out into a 10-year or longer planning horizon and provides the basis for identifying both ongoing capital needs and strategic opportunities for capital investment. Bond Oversight Commission C I T Y O F A U S T I N | S e p t e m b e r 1 6 , 2 0 2 0 | 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 . 2 4 APPENDIX F: Groups That May Provide Capital Project Oversight austintexas.gov/department/boards-and-commissions Bond Oversight Commission Austin Travis County EMS Advisory Board Austin Housing Finance Corporation Boards and Corporations Arts Commission Examples of Applicable Groups Committee of Council Health and Human Services Committee Audit and Finance Committee Mobility Committee Boards and Commissions Comprehensive Plan Joint Committee Construction Advisory Committee Downtown Commission Housing Authority of the City of Austin Library Commission Mexican American Cultural Center Advisory Board Music Commission Urban Transportation Commission C I T Y O F A U S T I N | S e p t e m b e r 1 6 , 2 0 2 0 | 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 . 2 5 2010 2013 2018 2006 2012 2016 Brochures, Ballot Language and Contract With The Voters (If Applicable) 2006 2010 2012 2013 Brochure Ballot Language austintexas.gov/sites/default/files/files/Capital_Planning/Bond_Development/BEATF/2006BondBrochure.pdf Bond Oversight Commission austintexas.gov/sites/default/files/files/Capital_Planning/mbondbrochure.pdf austintexas.gov/election/byrecord.cfm?eid=154 austintexas.gov/election/byrecord.cfm?eid=192 Ballot Language Brochure Brochure austintexas.gov/sites/default/files/files/Communications/Web_Content/2012Bond%20Brochure%202012%20Web.pdf Ballot Language austintexas.gov/election/byrecord.cfm?eid=196 Voter-Information Flier austintexas.gov/sites/default/files/files/Capital_Planning/Bond_Development/2013_Bond/FINAL_Affordable_Housing_Bond_Voter_Information_Flier.pdf Ballot Language austintexas.gov/election/byrecord.cfm?eid=197 Brochure austintexas.gov/sites/default/files/files/Capital_Planning/2016_Bond/2016_Bond_Voter_Information_Brochure__English.pdf 2016 Ballot Language austintexas.gov/election/byrecord.cfm?eid=201 Contract with the Voters RESOLUTION NO. 20160818-074 : austintexas.gov/edims/document.cfm?id=262118 Brochure austintexas.gov/sites/default/files/files/Finance/CFO/2018-Bond/COA_2018Bond_Booklet.pdf 2018 Ballot Language austintexas.gov/election/byrecord.cfm?eid=205 Contract with the Voters RESOLUTION NO. 20180809-061: austintexas.gov/edims/document.cfm?id=304077 C I T Y O F A U S T I N | S e p t e m b e r 1 6 , 2 0 2 0 Bond Oversight Commission Q U E S T I O N S Bond Oversight Commission P r e s e n t e r : Paige Warner Financial Services – Budget Office