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Bond Oversight Commission – March 16, 2022

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C I T Y O F A U S T I N | M a r c h 1 6 , 2 0 2 2 Bond Oversight Commission Bond Oversight Commission C I T Y O F A U S T I N | M a r c h 1 6 , 2 0 2 2 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 | M a r c h 1 6 , 2 0 2 2 Bond Oversight Commission I T E M 2 b . WATERSHED PROTECTION Bond Oversight Commission 2018 BOND Proposition D - Flood Mitigation, Open Space & Water Quality Protection P r e s e n t e r s : Pa m K e a r f o t t , P E , C F M A n n i e Va n Z a n t , P M P, E N V S P C I T Y O F A U S T I N | M a r c h 1 6 , 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 D Flood Mitigation, Open Space & Water Quality Protection The issuance of $184,000,000 in tax supported general obligation bonds and notes for flood mitigation, open space and water quality and quantity for planning, designing, Bond Oversight Commission acquiring, constructing, and installing improvements and facilities for flood control, erosion control, water quality, water quantity, and storm‐water drainage, and acquiring land, open spaces, and interests in land and property necessary to do so; and the levy  of a tax sufficient to pay for the bonds and notes. Time Line (as defined in Contract with the Voters): • • Ballot language:  • Contract with the Voters:   http://www.austintexas.gov/edims/document.cfm?id=304077 http://www.austintexas.gov/election/byrecord.cfm?eid=205 8 years  C I T Y O F A U S T I N | M a r c h 1 6 , 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 . 5 2018 ‐ PROPOSITION D Flood Mitigation, Open Spaces  & Water Quality  BOND BALANCES Voter-approved $184,000,000 Appropriated Bond Oversight Commission $184,000,000 Appropriated $6,153,622 Encumbered Available Bond Balance 100% 43.4% Committed 2018 Bond Fund Allocation Open Space/ Water Quality Protection Lands $72,000,000 Flood Mitigation and Drainage Projects $112,000,000 Open Space/ Water Quality Protection Lands $35,524,701 Flood Mitigation and Drainage Projects $68,643,204 Spent $73,678,472 Committed $79,832,094 Available $104,167,905 Data thru Fiscal Year 2022 Q1 C I T Y O F A U S T I N | M a r c h 1 6 , 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 . 6 2018 - PROPOSITION D – $112M for Drainage/Stormwater Projects SPENDING SUMMARY - $ Amount Available After Annual Spending $120.00 M $100.00 M $112.00 M  $108.66 M  $80.00 M Bond Oversight Commission $69.89 M  $60.00 M $76.31 M  $77.92 M  $50.93 M  $40.00 M $20.00 M $0.00 M FY 18 FY 19 FY 20 FY 21 FY 22 FY 23 FY 24 FY 25 FY 26 Year End Balance Projected Year End Balance Substantially Complete (90%) Data thru Fiscal Year 2021 Q4 $18.30 M  $4.58 M  $0.77 M  C I T Y O F A U S T I N | M a r c h 1 6 , 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 . 7 2018 G.O. Bond, Proposition D Drainage/Stormwater Projects ($112M) Used Bond Election Advisory Task Force (BEATF) recommendation to identify projects and funding amounts: • Very high flood and erosion risk severity • Confirmed feasibility • Most shovel-ready (implement within 5-7 year bond timeframe) • Maximize number of projects and geographic distribution Bond Oversight Commission Assign any remaining funds to other under-funded projects on the BEATF-recommended list or similar projects that meet original bond development criteria. Align appropriations plans with most up-to-date project delivery schedules during annual Five-Year CIP Planning process. C I T Y O F A U S T I N | M a r c h 1 6 , 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 . 8 Distribution of actual and planned projects partially funded by 2018 G.O. Bond funds Bond Oversight Commission This product has been produced by the City of Austin for the sole purpose of geographic reference. No warranty is made by the City of Austin regarding specific accuracy or completeness. C I T Y O F A U S T I N | M a r c h 1 6 , 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 . 9 Creek Flood Risk Reduction – Projects with 2018 G.O. Bond Funding Project Name Project Type Current Phase Approx. Construction Start Onion Creek – Upper Onion Creek Flood Risk Reduction Buyouts Property Buyouts Construction Present Bond Oversight Commission Barton Creek – Oak Acres Creek Flood Risk Reduction Project Low Water Crossing Upgrade Design FY23 Walnut Creek – McNeil Drive Low Water Crossing Improvements Low Water Crossing Upgrade Design FY24 Shoal Creek – Northwest Park Dam Maintenance and Modernization Dam Modernization Design FY25 Onion Creek – Paces Mill Creek Flood Risk Reduction Preliminary FY25 Flood Risk Reduction (Regional) C I T Y O F A U S T I N | M a r c h 1 6 , 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 . 1 0 Localized Flood Risk Reduction – Projects with 2018 G.O. Bond Funding Project Name Project Type Current Phase Approx. Construction Start Lake Austin – Meredith St. Storm Drain Improvements Storm Drain Improvements Construction Present Walnut Creek - North Acres Subdivision Roadway Drainage Improvements Bond Oversight Commission Walnut Creek – Oak Knoll Drainage Improvements Storm Drain Improvements Design FY22 W. Bouldin Creek – Del Curto Storm Drain Improvements Storm Drain Improvements Design FY23 Storm Drain Improvements Construction Present Walnut Creek – January Dr Storm Drain Improvements Storm Drain Improvements Design Barton Creek – Oak Park Local Flood Risk Reduction Project Storm Drain Improvements Design FY23 FY23 Walnut Creek - Whispering Valley Dr Flood Risk Reduction Project Storm Drain Improvements + Creek Flood Risk Reduction Design FY23 C I T Y O F A U S T I N | M a r c h 1 6 , 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 . 1 1 Localized Flood Risk Reduction – Projects with 2018 G.O. Bond Funding (cont’d) Project Name Project Type Current Phase Approx. Construction Start Walnut Creek – North Acres Storm Drain Improvements Storm Drain Improvements Design FY23 Williamson Creek - Brassiewood Dr Storm Drain Improvements* Bond Oversight Commission Storm Drain Improvements + Creek Flood Risk Reduction Walnut Creek - West Cow Path Flood Risk Reduction Storm Drain Improvements Design Design FY24 FY23 Waller Creek – Guadalupe St, W. 35-37th Storm Drain Improvements Storm Drain Improvements Design FY26 C I T Y O F A U S T I N | M a r c h 1 6 , 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 . 1 2 Erosion/Stream Restoration – Projects with 2018 G.O. Bond Funding Project Name Project Type Current Phase Approx. Construction  Start Country Club West – Roy G. Guerrero Park Channel Stabilization Stream Stabilization Bid/Award FY22 Little Walnut Creek – Jamestown Tributary Erosion and Drainage Improvements Bond Oversight Commission Stream Stabilization + Flood Risk Reduction Design FY23 Little Walnut Creek - Park Plaza Stream Stabilization* Stream Stabilization Design FY23 Williamson Creek – Tributary 4 Channel Stabilization Stream Stabilization Design FY23 C I T Y O F A U S T I N | M a r c h 1 6 , 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 . 1 3 2018 G.O. Bond, Proposition D – Open Space ($72M) Program Goals Protect the quality of life for all Austinites by systematically purchasing or protecting undeveloped lands that preserve water quality and quantity to the Barton Springs segment of the Edwards Aquifer while also providing comprehensive watershed benefits to all downstream creeks and lakes. These watershed benefits include protection of drinking water, reduction of flood impacts, and preservation of natural resources. Bond Oversight Commission Bond sales are the best funding vehicle available to the City to make these green infrastructure investments. Interdepartmental team for acquisitions: Watershed Protection, Austin Water, Office of Real Estate Services, and Law Department. Lands managed by Austin Water. C I T Y O F A U S T I N | M a r c h 1 6 , 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 . 1 4 2018 G.O. Bond, Proposition D Open Space ($72M) Total spent as of March 2022 = $36M Acquired 5,825.84 acres to date: • Pfluger (450 acres – fee simple) • Rogers (400.4 acres – fee simple) • Anthem (250.1 acres – fee simple) • • • Michaelis Tract (460.5 acres – conservation Rutherford (9.65 acres – fee simple) Euers Tract (109 acres – fee simple) • Webb Tract (100 acres – conservation easement) • Sweetwater/Uplands (4,046.19 acres – conservation easement) Several land acquisitions are currently in progress. • As per the City’s protocol, these purchases will go to Council for final approval. Funds are appropriated and encumbered as acquisitions are made. • Bond Oversight Commission easement) This product is for informational purposes and may not have been prepared for or be suitable for legal, engineering, or surveying purposes. It does not represent an on-the-ground survey and represents only the approximate relative location of property boundaries. No warranty is made by the City of Austin regarding specific accuracy or completeness. C I T Y O F A U S T I N | M a r c h 1 6 , 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 . 1 5 W A T E R S H E D P R O T E C T I O N WPD G.O. BOND-FUNDED PROJECTS TO BE IN CONSTRUCTION IN FY22 RESOURCES • Upper Onion Creek Flood Risk Reduction • WPD Home Page Buyouts • Bond Oversight Commission Lake Austin – Meredith St Flood Risk Reduction • WPD Projects Website http://austintexas.gov/department/watersh ed-protection • 2018 G.O. Bond – Proposition D • Walnut Creek - North Acres Subdivision Roadway Drainage Improvements • Walnut Creek – Oak Knoll Drainage Improvements • Country Club West – Roy G. Guerrero Park Channel Stabilization C I T Y O F A U S T I N | M a r c h 1 6 , 2 0 2 2 Bond Oversight Commission Q U E S T I O N S Bond Oversight Commission Presenter(s): Pa m K e a r f o t t , P E , C F M A n n i e Va n Z a n t , P M P, E N V S P C I T Y O F A U S T I N | M a r c h 1 6 , 2 0 2 2 Bond Oversight Commission Bond Oversight Commission 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 A p p e n d i x C I T Y O F A U S T I N | M a r c h 1 6 , 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 . 1 8 Subproject Name Current Phase Approximate Construction Start Original 2018 Bond Scenario Analysis Funding Amount Total Funding Amount in FY23-27 Proposed CIP Plan Walnut Creek - West Cow Path Flood Risk Reduction Lake Austin - Meredith St. Storm Drain Improvements Bond Oversight Commission $18,000,000 $4,000,000 $2,000,000 $3,833,631 $3,833,631 $6,042,300 $6,100,000 $6,042,300 $2,174,919 Construction Present Design Design Design FY24 FY23 FY26 Waller Creek - Guadalupe St, W. 35-37th Storm Drain Improvements W. Bouldin Creek - Del Curto Storm Drain Improvements WPD Projects with 2018 G.O. Bond Funding Barton Creek – Oak Acres Creek Flood Risk Reduction Project Barton Creek – Oak Park Local Flood Risk Reduction Project Walnut Creek - McNeil Drive Low Water Crossing Improvements Onion Creek - Upper Onion Creek Flood Risk Reduction Buyouts Shoal Creek - Northwest Park Dam Rehabilitation and Modernization Walnut Creek - Whispering Valley Dr Flood Risk Reduction Project Onion Creek - Paces Mill Creek Flood Risk Reduction Preliminary Engineering Walnut Creek - Oak Knoll Flood Risk Reduction Project Walnut Creek - January Dr Flood Risk Reduction Walnut Creek - North Acres Storm Drain Improvements Walnut Creek - North Acres Subdivision Roadway Drainage Improvements Construction Present Williamson Creek - Brassiewood Dr Storm Drain Improvements Little Walnut Creek - Jamestown Tributary Erosion and Drainage Improvements Country Club West - Roy G. Guerrero Park Channel Stabilization Bid/Award/Execution Williamson Creek - Tributary 4 Channel Stabilization Little Walnut Creek - Park Plaza Stream Stabilization Brentwood Drainage Improvements Nuckols Crossing Low Water Crossing Improvements Preliminary Engineering Cancelled Design Design Design Construction Design Design Design Design Design Design Design Design Design FY23 FY23 FY24 FY25 Present FY25 FY23 FY22 FY23 FY23 FY23 FY23 FY22 FY23 FY23 FY27 N/A TOTAL: $8,500,000 $2,000,000 $ - $27,000,000 $4,300,000 $7,100,000 $2,500,000 $4,100,000 $8,000,000 $2,000,000 $5,500,000 $ - $ - $ - $14,000,000 $3,000,000 $112,000,000 Amount Already Appropriated to the Project $605,000 $29,800,000 $92,000 $361,920 $2,014,000 $1,107,280 $420,000 $350,000 $1,100,000 $3,670,000 $2,000,000 $605,000 $29,800,000 $2,500,000 $1,000,000 $9,688,505 $2,561,920 $11,298,942 $1,107,280 $3,118,303 $5,689,200 $15,000,000 $2,350,000 $2,360,000 $0 $0 $112,000,000 $44,626,131 C I T Y O F A U S T I N | M a r c h 1 6 , 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 . 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 | M a r c h 1 6 , 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 . 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 | M a r c h 1 6 , 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 . 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 | M a r c h 1 6 , 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 . 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 and expense data for: Bond Oversight Commission Departments Projects Subprojects C I T Y O F A U S T I N | M a r c h 1 6 , 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 . 2 3 APPENDIX E: Long Range CIP Strategic Plan https://www.austintexas.gov/sites/default/files/files/Planning/LRCSP_FINAL_FY19‐21.pdf 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 | M a r c h 1 6 , 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 . 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 | M a r c h 1 6 , 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 . 2 5 2006 2012 2016 2020 2010 2013 2018 Brochures, Ballot Language and Contract With The Voters (If Applicable) Bond Oversight Commission austintexas.gov/sites/default/files/files/Capital_Planning/Bond_Development/BEATF/2006BondBrochure.pdf Brochure Brochure Brochure 2006 2010 2012 2013 Ballot Language austintexas.gov/election/byrecord.cfm?eid=154 austintexas.gov/sites/default/files/files/Capital_Planning/mbondbrochure.pdf Ballot Language austintexas.gov/election/byrecord.cfm?eid=192 austintexas.gov/sites/default/files/files/Communications/Web_Content/2012Bond%20Brochure%202012%20Web.pdf Ballot Language austintexas.gov/election/byrecord.cfm?eid=196 Ballot Language austintexas.gov/election/byrecord.cfm?eid=197 Voter-Information Flier austintexas.gov/sites/default/files/files/Capital_Planning/Bond_Development/2013_Bond/FINAL_Affordable_Housing_Bond_Voter_Information_Flier.pdf Continued on next page. C I T Y O F A U S T I N | M a r c h 1 6 , 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 . 2 6 2006 2012 2016 2020 2010 2013 2018 Bond Oversight Commission Brochures, Ballot Language and Contract With The Voters (If Applicable), Continued Continued from previous page. austintexas.gov/sites/default/files/files/Capital_Planning/2016_Bond/2016_Bond_Voter_Information_Brochure__English.pdf Brochure 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 Brochure austintexas.gov/sites/default/files/files/Finance/2020MobilityPropsBrochure100220_web.pdf 2020 Ballot Language austintexas.gov/edims/document.cfm?id=346093 Contract with the Voters RESOLUTION NO. 20200812-011 : https://www.austintexas.gov/edims/document.cfm?id=346328