Approved Minutes — original pdf

Approved Minutes

BOND OVERSIGHT COMMISSION FEBRUARY 16, 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 November 16, 2022 with Social Distancing Modifications and some commissioners participating via WebEx conference. Chair Rodriguez called the meeting to order at 2:07 PM Board Members in Attendance: Santiago Rodriguez, Chair Sumit DasGupta, Vice-Chair Charles Curry Michael Drohan Francoise Luca John McNabb Kristen Weaver Nicole Wren Staff in Attendance: Will Mixon, Financial Services Eric Bailey, Public Works Jamey May, Housing and Planning CALL TO ORDER 1. APPROVAL OF MINUTES The minutes for the meeting of November 17, 2021 were approved with a motion by Vice-Chair DasGupta, Commissioner McNabb second on an 8-0 vote, with Commissioners Cook and Niedert absent. Newly appointed member Commissioner Kristen Weaver (District 1) was introduced and welcomed to the commission. 2. DISCUSSION 3. STAFF BRIEFING a. Staff briefing from the Public Works Department related to the impact of inflation on bond programs Staff from the Public Works Department provided a briefing to the commission with an update on the impact of construction and building cost inflation on bond projects. They discussed mitigation strategies against the impacts of inflation and shared that there have not been any inflation-related delays to bond project construction so far. Public Works staff then took questions from commissioners. BOND OVERSIGHT COMMISSION MEETING MINUTES February 16, 2022 b. Staff briefing from the Housing and Planning Department related to the 2018 Affordable Housing Bond Staff from the Financial Services Department and the Housing and Planning Department briefed the commissioners on the 2018 Affordable Housing Bond progress. Financial Services staff provided an overview of bond language and high-level financial figures. Housing and Planning staff then provided an update on detailed financials and timelines for the bond spending plan, including land acquisitions, community land trusts, displacement prevention and affordability programs, and development partnerships. Housing and Planning staff then answered questions from commissioners. 4. DISCUSSION AND POSSIBLE ACTION a. Discussion and possible action on the adoption of the 2022 work plan The 2022 Bond Oversight Commission workplan was approved with a motion by Vice- Chair DasGupta, Commissioner Drohan second on an 8-0 vote with Commissioners Cook and Niedert absent. b. Discussion and possible action related to the FY 2022-23 budget process and Commission budget recommendations The commission introduced FY 2022-23 budget process documents for review to provide recommendations to the budget office. Recommendations are due March 31, 2022. 5. FUTURE AGENDA ITEMS a. Bond Oversight Commission webpage updates (City Clerk’s Office) 6. ADJOURN Chair Rodriguez adjourned the meeting at 3:19pm. 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 Will Mixon, Financial Services Department, at 512-974-7962, for additional information; TTY users route through Relay Texas at 711. For more information on the Bond Oversight Commission, please contact Will Mixon at 512-974-7962. 2