Bond Oversight Commission 3/16/2022 Backup Item 2a Staff briefing from the Parks and Recreation Department related to parkland acquisition Link to Video Presentation: https://www.youtube.com/watch?v=_m7dM94FSgw&list=PLelTMMBW0YOQpeLLPu1QTzMCveigLYBxZ &index=21
BOND OVERSIGHT COMMISSION MARCH 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 March 16, 2022 with Social Distancing Modifications and some commissioners participating via WebEx conference. Chair Rodriguez called the meeting to order at 2:05 PM Board Members in Attendance: Santiago Rodriguez, Chair Sumit DasGupta, Vice-Chair Charles Curry Michael Drohan Stephen Gonzalez Francoise Luca John McNabb Kristin Weaver Nicole Wren Staff in Attendance: Katie Stewart, Budget Thomas Rowlinson, Parks and Recreation Randy Scott, Parks and Recreation Robynne Heymans, Parks and Recreation Paul Brooks, Parks and Recreation Mike Kelly, Watershed Protection Department Pam Kearfott, Watershed Protection Department Annie Van Zant, Watershed Protection Department ___ CALL TO ORDER 1. APPROVAL OF MINUTES 2. STAFF BRIEFING The minutes for the meeting of February 16, 2022 were approved with a motion by Vice-Chair DasGupta, Commissioner Drohan second on an 9-0 vote, with Commissioner Niedert absent. a. Staff briefing from the Parks and Recreation Department related to the Parkland Acquisition Staff from the Parks and Recreation Department provided a briefing to the commission with an update on the status of the Parkland Acquisition. They presented a video summarizing the acquisition and dedication project and what has been accomplished since the 2018 parks bond. Parks and Recreation staff then took questions from commissioners. BOND OVERSIGHT COMMISSION MEETING MINUTES February 16, 2022 b. Staff briefing from the Watershed Protection Department related to the 2018 bond program Staff from the Watershed Protection Department briefed the commissioners on the 2018 watershed bond progress. Staff presented updates for the bond program involving flood mitigation and drainage projects. Watershed Protection Department staff then answered questions from commissioners. 3. DISCUSSION AND POSSIBLE ACTION a. 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. The board discussed. a. Development of webpage to make bond program information more accessible to the 4. FUTURE AGENDA ITEMS community. b. 2018 Transportation projects. c. Update on authorized but unissued bonds. d. Libraries and Cultural Centers bond programs. 5. ADJOURN Chair Rodriguez adjourned the meeting at …
BOND OVERSIGHT COMMISSION February 16, 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. Francoise Luca John McNabb Wolfgang Niedert Kristen Weaver Nicole Wren AGENDA CURRENT BOARD MEMBERS: Santiago Rodriguez, Chair Sumit DasGupta, Vice Chair Sarah Cook Charles Curry Michael Drohan CALL TO ORDER 1. APPROVAL OF MINUTES meeting CITIZEN COMMUNICATION: GENERAL a. Approval of the minutes from the November 17, 2021 Bond Oversight Commission 2. DISCUSSION a. Introduction of a newly appointed member to the Bond Oversight Commission 3. STAFF BRIEFINGS on bond programs a. Staff briefing from the Public Works Department related to the impact of inflation b. Staff briefing from the Housing and Planning Department related to the 2018 Affordable Housing Bond 4. DISCUSSION AND POSSIBLE ACTION a. Discussion and possible action on the adoption of the 2022 work plan b. Discussion and possible action related to the FY 2022-23 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 Will Mixon, Financial Services Department, at 512-974-7962, for additional information; TTY users route through Relay Texas at 711. To speak remotely at the February 16, 2022 Bond Oversight Commission meeting, members of the public must: •Call or email the board liaison, Will Mixon, at (512) 974-7962 or William.Mixon@austintexas.gov no later than noon, February 15. The information required is the speaker’s name, item number(s) they wish to speak on, whether they are for/against/neutral, and a telephone number or email address. •Once a request to speak has been called in or emailed to the board liaison, the speaker will receive either an email or phone call providing the telephone number to call on the day of the scheduled meeting. •Speakers must call in at least 15 minutes prior to meeting start in order to speak, late callers will not be accepted and will not be able to speak. •Speakers will be placed in a queue until their time to speak. …
BOND OVERSIGHT COMMISION 2022 DRAFT MEETING SCHEDULE & TENTATIVE TOPICS FOR AGENDA March March 16, 2022 • Project Updates – Parks and Recreation and Watershed o Parkland Acquisition o 2018 Watershed Bond – Flood Mitigation, Open Space, and Water Quality Protection April May June April 20, 2022 • Project Updates – Police, Fire, and EMS o 2012 and 2018 Bonds May 18, 2022 • Project Updates – Public Works and Austin Transportation o 2012, 2016, 2018 and 2020 Mobility Bonds June 15, 2022 • Project Updates – Austin Public Health • General Obligation Bonds Sale and Credit Rating Update • Review and Approve the 2022 Annual Report July August No Meeting – limited staff availability due to annual budget preparation No Meeting – limited staff availability due to annual budget preparation September September 21, 2022 • Project Updates – Austin Public Library, Parks and Recreation, Economic Development October November December o 2012 and 2018 Bonds October 19, 2022 • Project Updates – TBD November 16, 2022 • Project Updates – TBD • Review and Approve 2023 Meeting Calendar No Meeting – Winter Break
CITY OF AUSTIN PUBLIC WORKS DEPARTMENT BOND OVERSIGHT COMMISSION CONSTRUCTION COST INFLATION 16 February 2022 CONNECTING YOU ALL AROUND AUSTIN WHAT IS THE ENR COST INDEX? Engineering News Record • CCI – Construction Cost Index • BCI – Building Cost Index Prices a “basket of goods” including labor, concrete, steel, and lumber Similar to Consumer Price Index (CPI) for measuring inflation across the economy Measured on a monthly basis, 20 individual cities used to create an “industry average”. Unless in the specific market of the individual city, industry average is most accurate INDUSTRY AVERAGE COST INDEX January 2020 – February 2022 CONSTRUCTION COST INDEX January 2020 – February 2022 March 2020 to February 2022 11% CCI increase BUILDING COST INDEX January 2020 – February 2022 March 2020 to February 2022 20% BCI increase INFLATION IS REAL WHAT CAN THE CITY DO? As an individual actor in the construction economy, there isn’t much the City can do about industry‐wide inflation: • Delay construction projects until inflation corrects o Deadlines on implementation of bond projects “Contract with the Voters” • Lock in pricing via contracts/bid guarantee • Update project budgets on a regular basis • Update Engineer’s Estimates as bid time approaches and ensure inflation costs are included. CITY OF AUSTIN PUBLIC WORKS DEPARTMENT CONNECTING YOU ALL AROUND AUSTIN
C I T Y O F A U S T I N | F e b r u a r y 1 6 , 2 0 2 2 Bond Oversight Commission Bond Oversight Commission C I T Y O F A U S T I N | F e b r u a r y 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 | F e b r u a r y 1 6 , 2 0 2 2 Bond Oversight Commission AFFORDABLE HOUSING Bond Oversight Commission 2018 BOND Proposition A – Affordable Hosing C I T Y O F A U S T I N | F e b r u a r y 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 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/election/byrecord.cfm?eid=205 • Contract with the Voters: austintexas.gov/edims/document.cfm?id=304077 C I T Y O F A U S T I N | F e b r u …
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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 …
BOND OVERSIGHT COMMISSION November 17, 2021, 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. Francoise Luca John McNabb Wolfgang Niedert Nicole Wren AGENDA CURRENT BOARD MEMBERS: Santiago Rodriguez, Chair Sumit DasGupta, Vice Chair Sarah Cook Charles Curry Michael Drohan CALL TO ORDER 1. APPROVAL OF MINUTES meeting 2. STAFF BRIEFINGS CITIZEN COMMUNICATION: GENERAL a. Approval of the minutes from the June 16, 2021 Bond Oversight Commission a. Staff briefing from the Financial Services Department providing an FY 2020-21 year-end financial update on the 2012, 2016, 2018, and 2020 voter-approved bond propositions 3. DISCUSSION AND POSSIBLE ACTION a. Discussion and possible action on the adoption of the 2021 annual report of the Bond Oversight Commission b. Discussion and possible action on issues related to quorum and the adoption of the 2022 Bond Oversight Commission calendar 4. 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 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.
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BOND OVERSIGHT COMMISION 2022 APPROVED MEETING SCHEDULE LOCATION: CITY HALL TIME: 2-4 PM • January 19, 2022 • February 16, 2022 • March 16, 2022 • April 20, 2022 • May 18, 2022 • • June 15, 2022 July – No meeting • August – No meeting • September 21, 2022 • October 19, 2022 • November 16, 2022 • December – No meeting
Annual Internal Review Bond Oversight Commission This report covers the time period of 7/1/2020 to 6/30/2021 The Bond Oversight Commission (BOC) mission statement (per Ordinance No. 20150813-010) is: A. The council creates the Bond Oversight Commission to ensure efficiency, equity, timeliness, and accountability in the implementation of existing and future City bond programs. B. 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 issued or cash commitments made C. The mayor and council shall work with the commission to set priorities and goals of each new bond issue to be submitted to voters. D. The commission shall advise the council on proposed bonds and the implementation of projects approved in bond elections. E. The council shall appoint at least three members to the commission who have training or professional experience in financial matters. Describe the board’s actions supporting their mission during the previous calendar year. Address all elements of the board’s mission statement as provided in the relevant sections of the City Code. • Assess and monitor the delivery of current, ongoing bond programs (mission statements A, B and D) Throughout the last year, the BOC focused on the 2016 & 2018 Bond activities while monitoring any outstanding Bond programs: • Staff update on the 2012, 2016, and 2018 Mobility Bond Programs and Projects – July 15th • Staff update from Small and Minority Business Resources – July 15th Meeting • Staff updates from Parks and Recreation, Austin Public Health, and Watershed Protection on 2012 and 2018 Bond Programs – August 26th Meeting Meeting Prepared by Santiago Rodriguez Chair, Bond Oversight Commission • Staff update from Neighborhood Housing and Community Development about the Affordable Housing 2013 and 2018 Bond Programs – September 16th Meeting • Staff update on the Bond Oversight Commission staff briefings presentation template - September 16th Meeting • Staff update from Austin Police Department, Emergency Medical Services, and Austin Fire Department about the Public Safety 2006, 2012, and 2018 Bond Programs – October 21st Meeting • Staff update from the Austin Transportation Department and Public Works Department about the 2020 Mobility Bond (Proposition B) – January 20th Meeting • Staff update from the Austin Transportation Department, Corridor Program Office and Public …
C I T Y O F A U S T I N | N o v e m b e r 1 7 , 2 0 2 1 Bond Oversight Commission Bond Oversight Commission A G E N D A F Y 2 0 2 0- 2 1 Ye a r - E n d F i n a n c i a l R e p o r t 2 0 1 2 , 2 0 1 6 , 2 0 1 8 , a n d 2 0 2 0 B o n d s 2012 Voter-Approved Bonds • Proposition 12: Transportation and Mobility ($143.3 million) • Proposition 13: Open Space and Watershed Protection ($30.0 million) • Proposition 14: Parks and Recreation ($77.7 million) • Proposition 16: Public Safety ($31.1 million) • Proposition 17: Health and Human Services ($11.1 million) • Proposition 18: Library, Museum, & Cultural Arts Facilities ($13.4 million) 2012 Voter-Approved Bonds Grand Total: $306.7 million 2012 Voter-Approved Bonds Total Approved: $306.7 million Overall By Proposition $25.2 million remaining (8.2%) (10.4%) $160,000,000 $140,000,000 $120,000,000 $100,000,000 $80,000,000 $60,000,000 $40,000,000 $20,000,000 $0 (7.3%) (0%) (12.0%) (0.7%) (5.6%) Prop 12 Prop 13 Prop 14 Prop 16 Prop 17 Prop 18 Remaining $281.5 million obligated (91.8%) As of FY 2021 year-end 2016 Voter-Approved Bonds • Proposition 1 (Mobility Bond): $720,000,000 for improvements to Loop 360 corridor, Spicewood Springs Road, Old Bee Caves Road Bridge, Anderson Mill Road, intersection of RM 620 and RM 2222, Parmer Lane, North Lamar Boulevard, Burnet Road, Airport Boulevard, East Martin Luther King Jr. Boulevard/FM 969, South Lamar Boulevard, East Riverside Drive, Guadalupe Street, Slaughter Lane, William Cannon Drive, Rundberg Lane, East Colony Park Loop Road, South Congress Avenue, Manchaca and South Pleasant Valley Road; sidewalks, Safe Routes to School, urban trails, bikeways, fatality reduction strategies, and the following local mobility substandard streets/capital renewal projects: Falwell Lane, William Cannon Overpass Bridge, FM 1626, Cooper Lane, Ross Road, Circle S Road, Rutledge Spur, Davis Lane, Latta Drive/Brush Country, Johnny Morris Road, and Brodie Lane 2016 Voter-Approved Bonds Total Approved: $720.0 million Overall $273.1M obligated (37.9%) $446.9M remaining (62.1%) As of FY 2021 year-end 2018 Voter-Approved Bonds • Proposition A: Affordable Housing ($250.0 million) • Proposition B: Library, Museum, and Cultural Arts Facilities ($128.0 million) • Proposition C: Parks and Recreation ($149.0 million) • Proposition D: Flood Mitigation, Open Space, and Water Quality Protection (184.0 million) • Proposition …
Versión en español a continuación. Regular Meeting of the Bond Oversight Commission June 16, 2021 Bond Oversight Commission to be held June 16, 2021 with Social Distancing Modifications Public comment will be allowed via telephone; no in-person input will be allowed. All speakers must register in advance (June 15, 2021 by noon). All public comment will occur at the beginning of the meeting. To speak remotely at the June 16, 2021 Bond Oversight Commission Meeting, members of the public must: •Call or email the board liaison, Will Mixon, at (512) 974-2532 or William.Mixon@austintexas.gov no later than noon, (the day before the meeting). The information required is the speaker name, item number(s) they wish to speak on, whether they are for/against/neutral, and a telephone number or email address. •Once a request to speak has been called in or emailed to the board liaison, residents will receive either an email or phone call providing the telephone number to call on the day of the scheduled meeting. •Speakers must call in at least 15 minutes prior to meeting start in order to speak, late callers will not be accepted and will not be able to speak. •Speakers will be placed in a queue until their time to speak. •Handouts or other information may be emailed to William.Mixon@austintexas.gov by Noon the day before the scheduled meeting. This information will be provided to Board and Commission members in advance of the meeting. •If this meeting is broadcast live, residents may watch the meeting here: http://www.austintexas.gov/page/watch- atxn-live Reunión del Bond Oversight Commission FECHA de la reunion (Junio 16, 2021) la junta en La junta se llevará con modificaciones de distanciamiento social Se permitirán comentarios públicos por teléfono; no se permitirá ninguna entrada en persona. Todos los oradores deben registrarse con anticipación (Junio 15, 2021 antes del mediodía). Todos los comentarios públicos se producirán al comienzo de la reunión. Para hablar de forma remota en la reunión, los miembros del público deben: • Llame o envíe un correo electrónico al enlace de (512) 974-2532, William.Mixon@austintexas.gov a más tardar al mediodía (el día antes de la reunión). La información requerida es el nombre del orador, los números de artículo sobre los que desean hablar, si están a favor / en contra / neutrales, y un número de teléfono o dirección de correo electrónico. • Una vez que se haya llamado o enviado por correo electrónico una solicitud para …
CAPITAL PROJECT DELIVERY IN THE CITY OF AUSTIN City of Austin Bond Oversight Commission June 16, 2021 1 PRESENTATION OVERVIEW Overview of Overview of Capital Project Capital Project Delivery Delivery Public Project Public Project Delivery Delivery Approach Approach Project Project Delivery Delivery Methods Methods Quality, Quality, Schedule, and Schedule, and Budget Budget 2 Project Management Division (PMD) Architecture Project Management Division (APMD) • Patricia L. Wadsack, P.E. • Division Manager • Janice White, AIA • Division Manager PRESENTERS 3 OVERVIEW OF CAPITAL PROJECT DELIVERY 4 Capital Project Delivery Project Management Division Architectural Project Management Division Engineering Services Division Construction Management Division Quality Management Division CAPITAL PROJECT DELIVERY Capital Project Delivery is a part of the Public Works Department Capital Project Delivery is the centralized project delivery entity for the City Capital Project Delivery manages projects from “cradle to grave” 5 Capital Capital Contracting Contracting Office Office Small and Small and Minority Business Minority Business Resources Resources Office of Real Office of Real Estate Estate Financial Financial Services Services Development Development Services Services Department Department LawLaw Sponsor Sponsor Departments Departments CAPITAL PROJECT DELIVERY PARTNERS 6 TOTAL PROJECTS MANAGED 475 Projects $4,954,391,690 The data on this and following slides is a recent snapshot This data is constantly changing as projects begin and end 7 OUR PEOPLE PMD AMPD • 49 Project Management Staff • 8 Support Staff • 25 Project Management Staff • 2 Support Staff • 3 Interns 8 Professional Engineers • 29 employees Licensed Architects • 14 employees Project Management Professionals • 15 employees LEED Accredited Professionals • 12 employees STAFF LICENSES AND REGISTRATIONS 9 PMD PROJECTS PMD projects include: PMD projects include: • Water and wastewater • Streets, bridges, and sidewalks • Watershed protection • Drainage PMD manages: PMD manages: • 365 active projects • $3,777,239,488 10 SEABROOK URBAN TRAIL 11 RIO GRANDE ST. RECONSTRUCTION 12 BERL HANDCOX SR. WATER TREATMENT PLANT 13 BURNET ROAD SIDEWALK IMPROVEMENTS 14 PMD Active Projects by Count Austin Convention Center (1) Austin Energy (5) Austin Public Library (1) Austin Transportation (32) Austin Water (202) Aviation (2) Economic Development (3) Fleet Mobility Services (7) Parks and Recreation (5) Planning and Zoning (1) Public Works (35) Watershed Protection (71) 15 PMD Active Projects by Value Austin Convention Center ($2,581,000) Austin Energy ($16,170,204) Austin Public Library ($125,658,542) Austin Transportation ($290,558,556) Austin Water ($2,135,648,306) Aviation ($1,524,129) Economic Development ($39,462,150) Fleet Mobility Services ($5,279,000) Parks and …
Treasury Department Update on September General Obligation Bond Sale Bond Oversight Commission June 16, 2021 Presented By: Bryan Rivera Deputy Treasurer Forecast Agenda – April 18 General Obligation Debt • Property Tax Rate has 2 components Tax Rate Operating & Maintenance (O&M) (General Fund) Debt (Debt Service Fund) • Debt Service tax rate set each year at level needed to fund principal and interest payments on debt issued and pledged with property tax • Pays both existing debt service and debt service associated with upcoming General Obligation bond sale 2 Forecast Agenda – April 18 General Obligation (GO) Debt • GO Debt = Public Improvement Bonds, Certificates of Obligation, and Contractual Obligations – $1.5 billion in outstanding General Obligation debt currently – Issued once per year – Backed by property (ad valorem) taxes and “full faith and credit” of the City Types of GO Debt Purpose Voter Approval City Term Public Improvement Bonds (PIBs) Capital Improvement projects and capital assets Yes 20 years Certificates of Obligation (COs) Real property: land, buildings, right of way, construction of a public work No 20 years Contractual Obligations (KOs) Personal property: equipment, machinery, vehicles, information technology No 7 years 3 Forecast Agenda – April 18 Steps to Sell or Issue Debt Spring 2020 September 2020 for FY2020-21 Spring/Summer 2021 Develop CIP Plan Annual Capital Budget Appropriations Reimbursement Resolutions Develop Bond Sale Schedule Notice of Intention to Issue Certificates Preliminary Official Statement Council Action on Bond Sales Bond Sales and Closing • Work on upcoming bond sale began Spring 2020 • Debt to be sold in upcoming bond sale supports projects and appropriations (authority to spend) previously approved by City Council • Use of Reimbursement Resolution allows projects to begin now and get funded later • Consistent with IRS regulations • Consistent with Financial Policies regarding cash management • Results in lower interest costs 4 Forecast Agenda – April 18 Upcoming GO Bond Sale Total Planned September Sale: $269.950 M Public Improvement Bonds (PIBs) - $159.550 M • 2016 Bond Program (Transportation): $20.000 M • 2018 Bond Program: $139.550 M • Affordable Housing - $77.655 M • Parks and Recreation - $16.995 M • • Health – $3.040 M • Transportation - $18.980 M Flood Mitigation/Open Space/Water Quality - $22.880 M Certificates of Obligation (COs) - $69.955 M • Austin Fire Department Locker Room Improvements - $26.620 M • Austin Fire/Emergency Medical Service Stations - …
CITY OF AUSTIN PUBLIC WORKS DEPARTMENT BOND OVERSIGHT COMMITTEE CIP COVID UPDATE 16 JUNE 2021 CONNECTING YOU ALL AROUND AUSTIN ACTIVE CONSTRUCTION PROJECTS BY MONTH 110 105 100 95 85 106 102 95 99 90 89 91 Dec-20 Jan-21 Feb-21 Mar-21 April May BREAKDOWN BY CLIENT Active Construction Projects by Client and Project Cost 5 46 8 3 9 3 2 4 13 7 Total Projects: 102 Total Project Cost: $1.88 Billion s n o i l l i M $900 $800 $700 $600 $500 $400 $300 $200 $100 $0 RESPONSE TO COVID CASES Number of Confirmed Positive Cases on CIP Projects: 31 (no change from May) Number of Projects with a Positive Case: 17 (no change from May) COIVD Policy Updates due to Governor’s Order GA-36 “…No governmental entity…may require any person to wear a face covering…” The City cannot require people to wear face coverings in City facilities The City cannot require Contractors to wear face coverings on City property (including CIP jobsites) • • • Updated face covering information from “required” to “recommended” CITY OF AUSTIN PUBLIC WORKS DEPARTMENT CONNECTING YOU ALL AROUND AUSTIN
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BOND OVERSIGHT COMMISSION JUNE 16, 2021 2:00 PM VIA VIDEOCONFERENCING BOND OVERSIGHT COMMISSION MINUTES The Bond Oversight Commission convened in a regular meeting on June 16, 2021 with Social Distancing Modifications. Chair Rodriguez called the meeting to order at 2:02 PM Board Members in Attendance: Santiago Rodriguez, Chair Sumit DasGupta, Vice-Chair Charles Curry Michael Drohan Francoise Luca John McNabb Nicole Wren Patricia Wadsack, Public Works Janice White, Public Works Staff in Attendance: Eric Bailey, Public Works David Bain, Public Works Will Mixon, Financial Services Bryan Rivera, Financial Services CALL TO ORDER 1. APPROVAL OF MINUTES The minutes for the meeting of April 21, 2021 were approved as amended with a motion by Vice-Chair DasGupta, Commissioner McNabb second on a 7-0 vote, with Commissioners Cook, Spigner III, and Niedert absent. Newly appointed members, Commissioners Drohan and Wren, were introduced and welcomed to the Commission. 2. DISCUSSION 3. STAFF BRIEFINGS a. Staff briefing from the Public Works Department about COVID-19 impacts to capital projects Staff from the Public Works Department provided a briefing to the Commission on the impacts of COVID-19 on capital projects. They provided information on active construction projects, response to COVID-19 cases, and impacts COVID-19 has had on capital projects. Staff answered questions from the commissioners after the presentation. b. Staff briefing from the Treasury Office to provide an update regarding general obligation bond sales BOND OVERSIGHT COMMISSION MEETING MINUTES June 16, 2021 Staff from the Financial Services Department provided a briefing to the Commission on general obligation bond sales. They provided information on general obligation debt, steps to issue debt, the September 2021 bond sale, and the City’s general obligation bond ratings. Staff answered questions from the commissioners after the presentation. c. Staff briefing from the Public Works Department about capital project delivery in the City of Austin Staff from the Public Works Department provided a briefing to the Commission on capital project delivery in the City of Austin. They provided information on an overview of capital project delivery, public project delivery approach, project delivery methods, and details around capital projects’ quality, schedule, and budget. Staff answered questions from the commissioners after the presentation. 4. FUTURE AGENDA ITEMS a. Moving agenda items from the canceled May meeting to a later date b. Information related to the relationship between Project Connect and bond program projects 5. ADJOURN Chair Rodriguez adjourned the meeting at 3:53 PM. The City of Austin …
Versión en español a continuación. Regular Meeting of the Bond Oversight Commission April 21, 2021 Bond Oversight Commission to be held April 21, 2021 with Social Distancing Modifications Public comment will be allowed via telephone; no in-person input will be allowed. All speakers must register in advance (April 20, 2021 by noon). All public comment will occur at the beginning of the meeting. To speak remotely at the April 21, 2021 Bond Oversight Commission Meeting, members of the public must: •Call or email the board liaison, Megan Bell, at (512) 974-2532 or megan.bell@austintexas.gov no later than noon, (the day before the meeting). The information required is the speaker name, item number(s) they wish to speak on, whether they are for/against/neutral, and a telephone number or email address. •Once a request to speak has been called in or emailed to the board liaison, residents will receive either an email or phone call providing the telephone number to call on the day of the scheduled meeting. •Speakers must call in at least 15 minutes prior to meeting start in order to speak, late callers will not be accepted and will not be able to speak. •Speakers will be placed in a queue until their time to speak. •Handouts or other information may be emailed to megan.bell@austintexas.gov by Noon the day before the scheduled meeting. This information will be provided to Board and Commission members in advance of the meeting. •If this meeting is broadcast live, residents may watch the meeting here: http://www.austintexas.gov/page/watch- atxn-live Reunión del Bond Oversight Commission FECHA de la reunion (Abril 21, 2021) La junta se llevará con modificaciones de distanciamiento social Se permitirán comentarios públicos por teléfono; no se permitirá ninguna entrada en persona. Todos los oradores deben registrarse con anticipación (Abril 20, 2021 antes del mediodía). Todos los comentarios públicos se producirán al comienzo de la reunión. Para hablar de forma remota en la reunión, los miembros del público deben: • Llame o envíe un correo electrónico al enlace de la junta en (512) 974-2532, megan.bell@austintexas.gov a más tardar al mediodía (el día antes de la reunión). La información requerida es el nombre del orador, los números de artículo sobre los que desean hablar, si están a favor / en contra / neutrales, y un número de teléfono o dirección de correo electrónico. • Una vez que se haya llamado o enviado por correo electrónico una solicitud para …