STAFF REPORT TO THE CITY COUNCIL
DATE: Regular Meeting of March 22, 2022
TO: The Mayor and Members of the City Council
SUBMITTED BY: Dante Hall, City Manager
Mike Roberts, Public Works Director
Christopher Roke, Parks & Recreation Director
SUBJECT: 2021-22 Development & Capital Improvement Update RECOMMENDED ACTION: Receive report, discuss, and provide direction if any.
FISCAL IMPACT OF RECOMMENDATION:
None as a result of this action.
The successful development of remaining development sites can result in additional revenues for the City in the form of property tax, sales tax, hotel bed tax, utility users tax and other revenues. There will also be an increase in expenses associated with providing municipal services to these developments and depending on the type, new revenues may or may not exceed these incremental expenses.
The capital improvements for FY 2021-22 are fully funded, except for the Regional Intermodal Transportation Center (RITC). A total of $46M has been secured and applied towards the RITC, including the completion of various improvements, while an additional estimated $67M is needed the complete the infrastructure for a train to stop. The City has secured the services of GBS to develop a funding plan for the remaining improvements. As of today, 40 potential funding opportunities have been identified that will be explored in greater depth in the coming weeks.
DISCUSSION:
The City Council requested that periodic updates be provided on development and capital improvements in the City in order to ensure the Council and community are informed of their current status. The last update of this type was provided on January 12, 2021.
Attached are power point presentations covering completed development projects, continuing projects, and project on the horizon; capital improvement projects; and the Regional Intermodal Transportation Center. Staff will be providing the current status of these projects during the presentation.
ATTACHMENTS:
Development Update, Capital Improvements, and Regional Intermodal Transportation Center PowerPoint Presentations.
List of Grant Funding Opportunities for the Regional Intermodal Transportation Center.
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