Aug 18, 2020 City Council Regular Meeting

[INVOCATION]

[00:00:04]

THANK YOU FOR THE INVITATION AND THE HONOR OF GIVING THE INVOCATION, PLEASE BOW YOUR HANDS WITH ME. HEAVENLY FATHER, IN JESUS NAME, WE COME TO YOU AND WE JUST ASK FOR YOUR BLESSINGS AND YOUR GUIDANCE AND AND THE GIFT OF WISDOM, AS WITH THIS COUNCIL MOVES THROUGH THESE PROCEEDINGS.

AND WE JUST ASK THAT EVERYTHING THAT WE DO FOCUS ON WHAT IS RIGHT, NOT WHO IS RIGHT.

AND WE JUST THANK YOU AND ALL THE WAYS THAT YOU BLESS US AND THAT YOU WILL CONTINUE TO BLESS US, BE WITH US ALWAYS.

AND THANK YOU SO MUCH FOR YOUR SON, JESUS CHRIST AND CHRIST.

AND WE PRAY. AMEN. THANK YOU, CHIEF. WE'LL GET INTO OUR AGENDA.

WE GOT SEVERAL ITEMS UP FOR DISCUSSION AND PRESENTATIONS [INAUDIBLE] CITY MANAGER TO START.

MAYOR PRO TEM SMITH, IT LOOKS LIKE WE LOST THE CITY MANAGER, HE'S RECONNECTING RIGHT NOW.

AUDIO CHECK, YOU GOT ME.

WE'RE READY, [INAUDIBLE].

ALL RIGHT, SO WE'RE READY FOR CORONAVIRUS UPDATE.

[1A. Coronavirus Update;]

THEN AFTER SHE'S DONE MAKING HER PRESENTATION AND ANSWERING ANY QUESTIONS THAT COUNCIL HAS WE'RE GOING TO GO TO DR.

SAUER TO GIVE US THE LATEST ON OUR BUSINESS ASSISTANCE GRANTS.

SO, CASIE.

YES, THANK YOU, GOOD AFTERNOON.

AS OF YESTERDAY, I'M SORRY, AS OF TODAY, TODAY AT JUST A FEW MINUTES AGO, THE NUMBERS ARE HOT OFF THE PRESS.

THERE WERE A TOTAL OF FIVE THOUSAND EIGHT HUNDRED AND FORTY FOUR CASES OF COVID-19 REPORTED IN POTTER AND RANDELL COUNTIES, THREE THOUSAND EIGHT HUNDRED AND SIXTY SIX CASES IN POTTER COUNTY AND ONE THOUSAND NINE HUNDRED SEVENTY EIGHT CASES IN RANDELL COUNTY.

WE HAVE A TOTAL OF FIVE THOUSAND TWO HUNDRED AND SEVENTY SIX RECOVERIES AND SEVENTY FIVE DEATHS TO REPORT IN OUR COMMUNITY.

WE ARE SAD BY EACH OF THE DEATHS.

THAT LEAVES US WITH FOUR HUNDRED AND NINETY THREE ACTIVE CASES.

EACH OF THE CASES DO REPRESENT A UNIQUE INDIVIDUAL AND STAFF TAKE TIME TO TAKE OUT DUPLICATE TESTS AND FOR EACH OF THE INDIVIDUALS AS THEY WE DON'T COUNT MULTIPLE FOR THE SAME PERSON. THE PUBLIC HEALTH DRIVE THRU REMAINS OPERATIONAL, YOU CAN CALL 378-6300 TO BE DIRECTED TO THE TEST SITE.

LAST WEEK, LOCAL HEALTH DEPARTMENTS ACROSS TEXAS RECEIVED A BACKLOG OF TEST RESULTS THROUGH THE NEDS SYSTEM, NEDS IS THE NATIONAL ELECTRONIC DISEASE SURVEILLANCE SYSTEM.

IT'S AN ELECTRONIC REPORTING SYSTEM PROVIDED BY THE TEXAS DEPARTMENT OF STATE HEALTH SERVICES FOR LOCAL HEALTH DEPARTMENTS AND THE TEXAS DEPARTMENT OF STATE HEALTH SERVICES TO REPORT NOTIFIABLE CONDITIONS TO DHS AND CDC.

AMARILLO PUBLIC HEALTH USES NEDS AS A REQUIRED DHS FOR REPORTING THOSE NOTIFIABLE CONDITIONS, SUCH AS COVID-19 AND OTHER.

THERE'S ABOUT 80 OR SO NOTIFIABLE CONDITIONS IN TEXAS AND NEDS IS ALSO USED AS A LAB REPORTING TOOL FOR COMMERCIAL LABS, HOSPITAL LABS TO REPORT ELECTRONIC, TO REPORT LABS BACK TO LOCAL HEALTH DEPARTMENTS OR REGIONAL HEALTH DEPARTMENTS.

WE RECEIVED AN EMAIL FROM THE TEXAS DEPARTMENT OF STATE HEALTH SERVICES KIND OF OUTLINING THE SITUATION LAST WEEK, AND I'LL JUST READ A SNIPPET OF THAT EMAIL THAT KIND OF DESCRIBES WHAT HAPPENED.

THE REPORTING OF COVID-19 LAB RESULTS HAS INTRODUCED NEW LABS TO THE LAB REPORTING NETWORK AND NEW DATA ELEMENTS TO REPORTING FILES WHILE THE MAJORITY OF LAB REPORTING.

WHILE THE MAJORITY OF LAB REPORTING FILES ARE ABLE TO BE PROCESSED WITHOUT INCIDENT, THERE ARE SITUATIONS WHERE LABS SUBMIT FILES THAT CANNOT BE SUCCESSFULLY PROCESSED.

AS THE TECHNICAL TEAMS WORK TO RESOLVE THE SUBMISSION ERRORS, A BACKLOG OF LAB RESULTS CAN DEVELOP AND MAY ONLY BE EVIDENT ONCE THE SUBMISSION ERRORS ARE RESOLVED AND THE FILES ARE SUCCESSFULLY PROCESSED.

LAST WEEK, ONE SUCH BACKLOG OF LAB RESULTS WAS SUCCESSFULLY PROCESSED INTO NEDS AND RESULTED IN THE SUDDEN APPEARANCE OF OLDER LAB RESULTS FOR SOME JURISDICTIONS.

YESTERDAY, A SIMILAR BACKLOG OF LAB RESULTS WAS SUCCESSFULLY PROCESSED FOR ANOTHER LAB IN THE STATE. UNFORTUNATELY, IT MAY BE DIFFICULT TO KNOW THE EXACT IMPACT ON YOUR JURISDICTION UNTIL AFTER THE FILES ARE PROCESSED.

THE IMPACT OF THE SUCCESSFUL SUBMISSION OF THESE LAB RESULTS WILL DEPEND ON A NUMBER OF

[00:05:04]

SO THAT IS AN EXCERPT FROM THAT EMAIL THAT WAS SENT TO US BY THE STATE OF TEXAS.

THE IMPACT HAS BEEN MINIMAL HERE IN AMARILLO, PART OF RANDELL COUNTY, TO THE AMARILLO PUBLIC HEALTH DEPARTMENT AS WE PROVIDE THE PUBLIC HEALTH TESTING THROUGH THE PUBLIC HEALTH DRIVE THROUGH. AND WE HAVE DIRECT ACCESS TO THE TEST RESULTS THROUGH THE LABORATORY PORTALS, AND SO THAT HAS BEEN TO US OTHER JURISDICTIONS WHO MAY RELY ON OTHER MECHANISMS FOR TESTING THROUGH PUBLIC HEALTH DEPARTMENTS MAY HAVE HAD MORE OF A SIGNIFICANT IMPACT.

AND I'M HAPPY TO ANSWER ANY QUESTIONS THAT YOU MIGHT HAVE.

SO, CASIE, ARE YOU ARE YOU SAYING THAT BECAUSE WE ALREADY HAD SOME OF THOSE REPORTS, I'M PULLING OUT KIND OF OUR ACTIVE CASES, THAT IT DIDN'T IMPACT THAT MUCH, OUR TOTAL ACTIVE CASE COUNT FOR THE CITY, BUT IT DID IMPACT OUR RECOVERY? IS THAT WHAT HAPPENED ON FRIDAY, WHERE WE HAD A LOT OF RECOVERIES REPORTED THAT LOWERED OUR NUMBERS ALL AT ONE TIME SO WE ALREADY KNEW OF THE CASES, IS WHAT I'M HEARING YOU SAY, BUT WE HADN'T BEEN NOTIFIED ABOUT THE RECOVERY, IS THAT RIGHT? IT'S SORT OF SO WE HADN'T SO THOSE WERE OLDER LABS THAT WE RECEIVED THAT BACKLOG OF LABS MAY HAVE EVEN BEEN A MONTH AGO.

AND SO WE.

SO THAT'S WHY THEY WERE PUT INTO THAT RECOVERED CATEGORY BECAUSE THEY WERE VERY, VERY OLD OR WE ALREADY KNEW ABOUT THEM AND THEY HAD ALREADY RECOVERED.

AND SO THERE ARE SEVERAL DIFFERENT, MANY SCENARIOS THAT COULD HAVE PLAYED OUT WITH THOSE PARTICULAR LABS. ONE, WE ALREADY KNEW ABOUT THEM AND THEY HAD ALREADY RECOVERED, OR TWO, THEY WERE SO OLD THAT WE JUST WENT AHEAD AND ROLL THEM INTO THAT RECOVERED CATEGORY BECAUSE THEY WERE WE WEREN'T NOTIFIED OF THEIR DEATH.

AND THEY IT WAS PAST OUR CUTOFF OF FOUR WEEKS.

AND SO AND AND I THINK THAT WHEN I SAY WE HAVE MINIMAL IMPACT, I THINK THAT'S IN COMPARISON TO MANY OTHER JURISDICTIONS.

SO WE HAD RIGHT AROUND NINE HUNDRED AND SEVENTY THREE, A LITTLE OVER NINE HUNDRED AND SEVENTY FIVE LABS THAT DOWNLOADED TO OUR SYSTEM FROM THE STATE SYSTEM.

AND IN ABOUT ONE HUNDRED AND FORTY NINE OF THOSE WERE POSITIVES.

SO ARE ANY OF THOSE BECAUSE THESE WERE SO OLD, I'M GUESSING THAT EVEN THOSE THAT HAD TESTED POSITIVE, IT WAS ALREADY PAST THE TIME THAT THEY'RE NOT THEY WERE NO LONGER ACTIVE CASES. CORRECT.

AND THAT'S WHY OUR ACTIVE CASE COUNT WENT WAY DOWN.

AND I GUESS ONE OF THE THE MOST DIFFICULT THINGS ABOUT THAT, IT REALLY MAKES IT HARD FOR US TO KIND OF KNOW OUR TRENDS, TO KNOW A LITTLE BIT WHERE WE ARE.

MORE ON OUR OUR SHORT CYCLE, OUR SEVEN DAY CYCLE ARE WHAT IS IT THAT YOU REFER TO? AND IT'S LIKE WE WE DOUBLE OUR NUMBERS AT A CERTAIN TIME, TIME PERIOD.

SO CAN YOU KIND OF COMMENT ON THAT OVERALL WHEN WE IS THERE A WAY THAT YOUR DEPARTMENT'S BEEN ABLE TO KIND OF EXTRAPOLATE THOSE BIG THAT BIG IMPACT OUT AND GIVE US SOME FEEDBACK ON WHERE WE ARE MORE ON OUR ON OUR ACTUAL SEVEN DAY TRENDS AND IN DOUBLING OF OUR CASES? I THINK THE NEW ACTIVE CASES ARE VERY HELPFUL TO KNOW ON THE ON THE REPORT CARD THAT THAT COLUMN WHERE WE HAVE THE NEW ACTIVE CASES, I THINK THAT'S A COLUMN TO REALLY PAY ATTENTION TO ALL OF THE COLUMNS CERTAINLY GIVE VERY HELPFUL INFORMATION.

BUT RIGHT NOW, ESPECIALLY WITH KIND OF AN INFLUX OF DATA COMING IN FROM THE STATE SYSTEM, I THINK THAT THAT THAT NUMBER IS GOING TO BE VERY HELPFUL TO KIND OF SEE WHERE WE ARE WITH TRENDING THEN, YOU KNOW, IN PROBABLY A WEEK OR TWO WILL BE CERTAINLY BE BACK ON OUR TREND LINE WITH REGARD TO ACTIVE CASES.

AND SO I THINK THAT THIS WILL CERTAINLY WORK ITS WAY INTO THAT TREND.

IS ARE YOU GUYS HEARING ANYTHING FROM THE STATE HEALTH DEPARTMENT ON JUST KIND OF TARGETS

[00:10:07]

THE GOVERNOR PAUSED US IN PHASE TWO INSTEAD OF MOVING ON TO PHASE THREE.

DO YOU HEAR FEEDBACK FROM TARGETS THEY'RE LOOKING FOR STATEWIDE BEFORE THE GOVERNOR IS GOING TO RELEASE THE STATE TO MOVE INTO PHASE THREE REOPENING? WE HAVEN'T HAD ANY OF THAT INFORMATION, BUT I CERTAINLY, YOU KNOW, I THINK AS CASES INCREASE AND AS CASES INCREASE MORE DRAMATICALLY, I THINK THAT THAT DECISION PROBABLY BECOMES MORE DIFFICULT.

WELL, I'M KIND OF REFERRING TO, LIKE OUR HOSPITALIZATION RATES, THOSE AREN'T INCREASING DRASTICALLY. WE'RE NOT DOUBLING OUR CASES.

WE SEEM TO BE KIND OF FLATTENING UNDER THE FIVE HUNDRED LEVEL.

SO, YOU KNOW, I'M TRYING TO TO FIND OUT WHAT HIS WHAT HIS TARGETS ARE AND GOALS OF BECAUSE I DON'T SEE OUR CASES GOING UP DRASTICALLY HERE.

I SEE A LEVELING OFF AND DEFINITELY MORE OF A FLATTER TREND.

YES, I THINK MY REFERENCE, MY WAS MORE STATE WIDE AS OPPOSED TO LOCALLY.

SO, YES, YOU'RE ABSOLUTELY RIGHT.

LOCALLY, THAT IS THAT'S WHAT'S HAPPENING.

I THINK WHEN SCHOOL STARTS, IT WILL CERTAINLY BE.

I THINK WE'LL SEE THOSE NUMBERS INCREASE ONCE SCHOOL STARTS, AND THAT WILL BE HELPFUL INFORMATION TO HAVE.

SO, CASIE, DID I MISS SOMETHING, I DON'T REMEMBER HEARING THE HOSPITALIZATION NUMBERS.

OH, NO, I DIDN'T REPORT THOSE TODAY, I'M SORRY, I'LL HAVE TO SEND THOSE OUT TO YOU ALL SEPARATELY. OK.

BECAUSE ISN'T THAT REALLY THE BOTTOM LINE, THAT'S THE MOST IMPORTANT THING WE'RE SUPPOSED TO BE WATCHING. YES, IT IS.

THIS MORNING HAS BEEN A VERY BUSY MORNING, SO I APOLOGIZE FOR NOT HAVING THAT READY TO GO.

BUT YOU WILL SEND THEM OUT BECAUSE I WOULD LIKE.

YES, AS SOON AS I GET OFF LINE, I WILL I'LL GET THOSE READY AND SEND THOSE TO EACH OF THE COUNCIL MEMBERS. OK, THANK YOU.

WHAT OTHER COMMENTS OR QUESTIONS DOES THE COUNCIL HAVE? IF NOTHING, JARED WOULD GO TO YOU NEXT.

WE HAD DR.

SAUER, DID YOU HAVE ANY AN UPDATE ON THE BUSINESS ASSISTANCE PROGRAMS? OK, SO.

ON THE PUBLIC SAFETY REIMBURSEMENT PROGRAM, THE PPE REIMBURSEMENT PROGRAM SO FAR TO DATE, WE'VE HAD 63 SUBMITTALS, A TOTAL OF ONE HUNDRED AND EIGHTEEN THOUSAND THREE HUNDRED AND FIFTY DOLLARS. THE AVERAGE REQUEST WAS JUST RIGHT ABOVE NINETEEN HUNDRED DOLLARS.

AND OUT OF THAT ONE HUNDRED AND EIGHTEEN THOUSAND SUBMITTED, WE HAVE PAID OUT ONE HUNDRED THOUSAND TWO HUNDRED AND TWENTY FOUR DOLLARS.

THERE'S ONLY A COUPLE LEFT THAT ARE PENDING AND THAT SHOULD BRING PROBABLY CLOSER TO THE 105 MARK AS FAR AS MONEY THAT'S BEEN DISPERSED ON THE SMALL BUSINESS GRANT.

WE HAD A MEETING LAST FRIDAY AND WE WENT THROUGH THIRTY EIGHT OF THE THERE WERE THIRTY EIGHT THAT HAD BEEN TURNED IN TO THIS POINT IN TIME.

AND AS WE WORKED OUR WAY THROUGH THEM, THIS IS WHAT WE HAVE AT THIS POINT IN TIME.

EIGHT OF THEM ARE ALREADY GOOD TO FUND.

THEY'RE A COUPLE OF THEM THAT ALL THEY NEED TO DO IS JUST FINISH FILLING OUT A COUPLE OF THINGS AND THEY ARE GOOD TO FUND.

THAT'S ABOUT 11 OF THEM.

THERE IS ANOTHER 11 THAT THEY'VE GOT THINGS THAT THEY NEED TO GO BACK AND GET DONE BEFORE WE CAN ACTUALLY REALLY REVISIT THEM.

WE'VE GOT ANOTHER ONE TO REVISIT LATER.

AND THEN THERE WERE THREE OF THOSE THAT WE THAT WE CHOSE NOT TO FUND.

AND SOME OF THAT IS ALSO BECAUSE WHAT THEY.

IN THEIR APPLICATION, IT WAS BETTER SUITED THAT PROBABLY THAT SHOULD ACTUALLY COME OUT OF THE PPE REIMBURSEMENT PROGRAM, SO THAT'S WHERE SOME OF THAT HAS COME FROM.

SO WE'VE GOT SEVENTY FIVE THOUSAND DOLLARS THAT IS READY TO FUND ONE HUNDRED AND 7000.

THAT IS ALMOST READY, 97 FIVE THAT THEY NEED TO COME.

THEY NEED TO GET SOME THINGS AND COME BACK TO OUR COMMITTEE.

AND WE DENIED 25000 THAT WOULD EITHER NOT DO OR ACTUALLY TWO OUT OF THE THREE WE WOULD SEND TO THE PUBLIC SAFETY REIMBURSEMENT.

[00:15:01]

SO WE'RE GOING TO MEET PROBABLY EVERY TWO WEEKS.

SO OUR NEXT MEETING WILL BE NEXT FRIDAY WHEN WE WILL CIRCLE BACK AROUND.

BUT RIGHT NOW, THE GOOD THING THAT WE CAN SAY IS WE'VE ALREADY HAVE EIGHT OF THEM FOR 75000 TO EIGHT BUSINESSES TO FUND.

SO AND PROBABLY BY THE TIME WE MEET NEXT TUESDAY, THE OTHER 11, THAT THEY JUST HAD A FEW THINGS JUST TO TURN IN.

THAT'LL BE ANOTHER HUNDRED AND 7 THOUSAND THAT WE WILL.

SO A TOTAL OF ONE HUNDRED AND EIGHTY TWO THOUSAND, THAT IS REALLY PRETTY MUCH READY TO GO. SO I THINK IT'S WORKING OUT REALLY, REALLY WELL AND I HAVEN'T HEARD ANYTHING YET.

MAYBE ANDREW MIGHT KNOW SOMETHING IS.

YEAH, HE MIGHT KNOW SOMETHING ABOUT THE CBDG WHERE WE'RE COMING AS FAR AS APPLICATIONS SINCE THAT OPENED UP LAST TUESDAY, AND WE HAVEN'T SEEN ANY OF THAT YET.

I DO NOT HAVE THAT, BUT WE CAN GET THAT INFORMATION FOR YOU BEFORE NEXT MEETING, I'M NOT SURE IF THEY'VE RECEIVED ANY TO DATE, BUT WE CAN HAVE THAT FOR NEXT WEEK.

AND THAT WAS PROBABLY THE HARDEST OF ALL THE APPLICATIONS OUT THERE FOR QUALIFICATIONS FOR ON THAT ONE, BECAUSE THAT'S ACTUALLY GOING THROUGH HUD.

AND THEY'VE GOT A LOT OF THERE'S A LOT OF THINGS THAT HAVE TO BE ANSWERED AND ACCOUNTED FOR BEFORE THOSE GRANTS WOULD BE GIVEN.

AND THAT GRANT IS UP TO BELIEVE, TWENTY FIVE THOUSAND DOLLARS FOR EACH OF THOSE GRANTS.

SO THAT'S WHAT I HAVE UP TO THIS POINT.

ANY QUESTION FOR YOU? I'M GLAD WE HAVE THOSE PROGRAMS AVAILABLE.

IF PEOPLE NEED HELP. YES.

WE CAN.

IF THERE'S NOT ANYTHING ELSE ON THE CORONAVIRUS WE'LL GO TO THAT NEIGHBORHOOD PLANS.

[1B. Neighborhood Plans Update and Discuss Proposed Registered Neighborhood Association Ordinance;]

WE'VE GOT EMILY KOLLER TO GIVE US AN UPDATE ON THE NEIGHBORHOOD PLANS AND ALSO TO DISCUSS SOME PROPOSED REGISTERED NEIGHBORHOOD ASSOCIATION ORDINANCE.

EMILY. GREAT.

THANK YOU, SIR. AND GOOD AFTERNOON, COUNCIL.

I'M GOING TO SHARE MY SCREEN HERE.

ALL RIGHT, SO THE THE LAST TIME WE PRESENTED AN UPDATE WAS IN SEPTEMBER OF 2019, SO IT'S BEEN ALMOST EXACTLY A YEAR, WHICH IS HARD FOR ME TO BELIEVE.

SO I'M GOING TO START WITH SOME SLIDES ON OUR PROGRESS WITH NEIGHBORHOOD PLANNING, AND THEN I'LL END WITH INTRODUCING THE REGISTERED NEIGHBORHOOD ORDINANCE FOR HOPEFULLY SOME FEEDBACK. AND SINCE IT'S BEEN OVER A YEAR, I'LL JUST DO A BRIEF OVERVIEW OF THE NEIGHBORHOOD PLANNING INITIATIVE.

SO THIS STARTED IN 2016 WITH AN INTERLOCAL AGREEMENT BETWEEN THE CITY AND POTTER COUNTY TO FACILITATE PLANNING AND COMMUNITY DEVELOPMENT IN OUR OLDER NEIGHBORHOODS.

AND AN OVERSIGHT COMMITTEE WAS ESTABLISHED AT THAT TIME WITH COUNCIL MEMBERS POWELL AND HAYS, AND IT INCLUDES POTTER COUNTY COMMISSIONERS MERCY MURGUIA AND ALPHONSO VAUGHN.

AT THE TIME, FOUR NEIGHBORHOODS WERE IDENTIFIED AS OUR PRIORITY NEIGHBORHOODS NORTH HEIGHTS, BARRIO, SAN JACINTO AND EASTRIDGE.

AND WE'VE COMPLETED PLANS FOR THREE OF THOSE AND WE'RE READY TO KICK OFF WITH THE FOURTH ONE. AND THIS SUMMER, THE OVERSIGHT COMMITTEE HAS DISCUSSED AND PRELIMINARY AGREED THAT THEY WOULD LIKE TO CONTINUE THIS PARTNERSHIP AND IDENTIFY ADDITIONAL NEIGHBORHOODS AND KEEP COMPLETING PLANS, AS WE'VE DONE FOR THE PREVIOUS FOUR.

SO THE FUNDING SOURCES FOR THE PROGRAM.

THERE ARE PRIMARY ONES THAT WE TRACK TO IDENTIFY TOTAL PUBLIC INVESTMENT IN THE NEIGHBORHOOD, SO THE FIRST IS PART OF THE INNER LOCAL AGREEMENT.

SO WHEN THE AGREEMENT WAS CREATED, EACH ENTITY WOULD CONTRIBUTE SEVENTY FIVE THOUSAND DOLLARS ANNUALLY.

AND TO DATE, POTTER COUNTY HAS CONTRIBUTED THREE HUNDRED AND SEVENTY FIVE THOUSAND.

AND IN 2016, THE CITY INCLUDED OVER TWO POINT SIX MILLION IN OUR FIVE YEAR CIP BOND FOR NEIGHBORHOOD PLANNING PROJECTS.

SO THAT WAS SORT OF IN LIEU OF THAT SEVENTY FIVE THOUSAND DOLLAR COMMITMENT.

SO AT THIS TIME, WE STILL HAVE OVER TWO POINT FIVE MILLION OF THAT REMAINING TO BE SPENT.

BUT IN THE PAST YEAR, THE THE OVERSIGHT COMMITTEE HAS STATED AND MADE IT VERY CLEAR TO

[00:20:01]

WE ALSO TRACK CIP IN THE NEIGHBORHOODS AND THEN OTHER FUNDING LIKE COMMUNITY DEVELOPMENT BLOCK GRANT FUNDS THAT ARE NOT SPECIFICALLY FOR THE NEIGHBORHOODS BUT ARE ACCESSIBLE TO THE NEIGHBORHOODS. AND IN MAY OF 2020 WE INTRODUCED A NEW A SMALL GRANT PROGRAM IN PART TO HELP WITH SOME OF THE IMPACTS OF COVID, BUT ALSO KIND OF AS A PILOT, AS A WAY TO HELP THE NEIGHBORHOODS BUILD ORGANIZATIONAL CAPACITY.

SO WE'RE CALLING UP THE NEIGHBORHOOD LEADERSHIP AND COMMUNITY BUILDING GRANT, AND THEY ONLY HAVE TO MATCH THAT WITH VOLUNTEER HOURS.

SO THIS IS OUR IMPLEMENTATION TRACKER, SO YOU CAN SEE HOW THOSE FUNDS SORT OF BREAK DOWN WHAT'S BEEN SPENT OUT OF EACH OF THOSE.

AND TODAY WE ARE REPORTING ABOUT TEN POINT FIVE MILLION THAT'S BEEN SPENT AND ALL OF THE NEIGHBORHOOD PLAN AREAS.

AND THEN AT THE BOTTOM, YOU CAN SEE SORT OF WHAT HAS BEEN ALLOCATED TO THE NEIGHBORHOOD.

SO THAT INCLUDES THOSE BOND FUNDS THAT HASN'T BEEN SPENT.

AND THEN ALSO TRACKING OTHER MAJOR PUBLIC INVESTMENT.

SO THAT'S THE THOMPSON PARK POOL YOU'RE SEEING THERE.

SO TOTAL INVESTMENT SPENT AND PLANNED IS OVER TWENTY ONE MILLION DOLLARS IN THE NEIGHBORHOOD PLAN AREAS.

AND I WANTED TO JUST LET YOU ALL KNOW THAT WE HAVE DONE A LOT OF WORK ON OUR WEBSITE, SO IT'S BEEN COMPLETELY UPDATED AND REORGANIZED, HOPEFULLY TO MAKE IT A LOT MORE USER FRIENDLY FOR OUR CONSTITUENTS.

WE'VE ADDED ALL THE INFORMATION ABOUT FUNDING.

THAT WAS ALWAYS THE QUESTION THAT I, I RECEIVED THE MOST.

SO WE'VE WE'VE CLARIFIED EVERYTHING THAT JUST WENT THROUGH AND ADDED ALL OF THAT TO OUR WEBSITE, WHICH YOU CAN REACH AMARILLO.GOV/NEIGHBORHOODPLANNING.

AND NOW I'LL JUST GO THROUGH SOME HIGHLIGHTS FROM THE SPECIFIC NEIGHBORHOODS, SO NORTH HEIGHTS, AS FAR AS THEIR BOMB PROJECTS ARE FOCUSED RIGHT NOW ON A BUS SHELTER AND STREETSCAPE IMPROVEMENT PROJECT.

THEY RECENTLY UNVEILED THEIR SIGN TOPPERS COMMUNITY PROJECTS, THEIR THEIR GRANT, THE COMMUNITY BUILDING GRANT THEY PROPOSE TO DO AND AN ELDERLY LAWN CARE INITIATIVE AND SOME OTHER SORT OF COMMUNITY MEETING COMMUNITY NEEDS BASED ON WHAT THEY'VE SEEN WITH COVID IMPACTS. AND THEN THEY'RE ALSO REALLY WORKING HARD RIGHT NOW AS A SUBCOMMITTEE ON THE NEIGHBORHOOD WIDE REZONING THAT WAS IMPORTANT RECOMMENDATION IN THEIR PLAN.

AND ALONG WITH TEXAS HOUSING, THEY'VE MADE A LOT OF PROGRESS AND WE THINK THAT WE'LL BE BRINGING THAT TO YOU AT THE END OF THIS CALENDAR YEAR.

AND THEN YOU'RE PROBABLY ALREADY AWARE OF THIS.

BUT THE COMMONS AT ST.

ANTHONY'S IS MOVING FORWARD BECAUSE THOSE HOUSING TAX CREDITS WERE AWARDED.

THAT'S A MAJOR CATALYST FOR THE PLAN AREA.

AND THEN THE NORTH HEIGHTS LINEN SERVICE IS THAT CONSTRUCTION IS UNDERWAY.

SO WE'VE SEEN A LOT OF ACTIVITY IN NORTH HEIGHTS.

SO TOTAL PUBLIC INVESTMENT IN THAT NEIGHBORHOOD IS ABOUT SIX POINT FOUR SEVEN MILLION.

AND THE REMAINING BOND ALLOCATION THAT THAT NEIGHBORHOOD HAS IS STILL CLOSE TO THE TOTAL AMOUNT THAT HAS BEEN ALLOCATED, ALTHOUGH THOSE PROJECTS THAT I MENTIONED, ESPECIALLY THE BUS SHELTER AND STREETSCAPE THAT'S ALLOCATED BUT NOT REFLECTED IN THAT REMAINING FUNDS TO BE SPENT. AND IN THE BARRIO.

SO EMILY.

YES. SO WHAT IS WHAT IS THE DOLLAR AMOUNT THAT IS ASSOCIATED WITH THE TAX CREDITS FOR THE COMMONS AT ST.

ANTHONY? DO YOU KNOW? I DO NOT, BUT ANDREW, HE MAY KNOW THAT.

CAN YOU REPEAT THAT ONE MORE TIME? YES, SIR. WHAT IS THE DOLLAR AMOUNT THAT IS ASSOCIATED WITH THE TAX CREDITS FOR THE COMMONS AT ST.

ANTHONY? I BELIEVE IT WAS A LITTLE OVER ONE AND A HALF MILLION IS THE TAX CREDIT BENEFIT THEY WERE RECEIVING, BUT THE OVERALL PROJECT IS CLOSE TO 30 MILLION.

OK. ALL RIGHT. THANK YOU, SIR.

ANDREW, I WOULD HAVE THE SAME QUESTION FOR THE NORTH HEIGHTS LINEN PROJECT.

[00:25:02]

THANK YOU. SO THE BARRIO HAS BEEN FOCUSED ON THE SOUTHEAST 10TH AVENUE STREETSCAPE, THE THE PHASE ONE, SO THEY'RE HAVING SOME RENDERINGS PROFESSIONALLY DONE RIGHT NOW.

OUR ENGINEERING DEPARTMENT IS WORKING ON THE PLANS FOR THOSE.

AND THEY ALSO HAVE ALLOCATED SOME FUNDS FOR UNDERPASS LIGHTING WHERE THE MURAL IS.

THAT PROJECT SHOULD BE COMPLETED IN THE NEXT SIX WEEKS OR SO.

THEY ARE PLANNING AN EVENT FOR HISPANIC HERITAGE MONTH, WHICH IS I THINK THE THE EVENT DATE IS SEPTEMBER 15TH.

AND THEY ARE ALSO WORKING ON SIGN TOPPERS, NEIGHBORHOOD WELCOME SIGNS.

AND SO THEY'D LIKE TO SORT OF PREVIEW THOSE AT THAT EVENT AND ALSO HAVE THE RENDERINGS FOR 10TH AVENUE.

SO THAT SHOULD BE ANOTHER KIND OF MILESTONE FOR THE BARRIO.

AND THEN THEY'RE ALSO WORKING ON PLANS FOR A MOBILE MARKET, AGAIN, KIND OF ADAPTING TO THE COVID IMPACTS FOR THEIR NEIGHBORHOOD THIS FALL.

AND TOTAL INVESTMENT, THEY'RE ALL SOURCES IS ABOUT EIGHT HUNDRED THOUSAND DOLLARS AND THEY STILL HAVE ABOUT SIX HUNDRED THOUSAND TO SPEND.

BUT THEY'RE PLANNING TO USE ALL OF THAT FOR THE SOUTHEAST 10TH AVENUE STREETSCAPE.

AND THEN SAN JACINTO, WE WERE HERE NOT TOO LONG AGO WITH THE ADOPTION OF THAT PLAN IN FEBRUARY, AND SINCE THAT TIME THEY HAVE ALREADY ESTABLISHED THE SAN JACINTO NEIGHBORHOOD ASSOCIATION. THEY FILED THEIR ARTICLES OF INCORPORATION AND WORKING ON THEIR 501(C)3 NONPROFIT STATUS.

SO THEY'RE MOVING REALLY QUICKLY.

THEY'VE LEARNED A LOT FROM THE OTHER NEIGHBORHOODS AND HAVE WORKED HARD ON KIND OF GETTING THAT OUT OF THE WAY SO THEY CAN FOCUS ON PROJECTS AND.

THEIR HIGH PRIORITY ONES ARE LIGHTING SIDEWALKS, RESIDENT OUTREACH AND COMMUNICATION, WHAT THEY'RE CALLING MERGING MERCHANTS, GETTING EVERYONE TO WORK TOGETHER UNDER THE VISION OF THE PLAN ON SIXTH STREET, NEIGHBORHOOD WATCH PROGRAMS. THEY'RE REALLY INTERESTED IN DOING A ROUTE 66 EMBLEM ON THE INDEPENDENCE WATER TANK AND THEN PARK IMPROVEMENTS FOR SAN JACINTO.

AND SO THERE WE DO HAVE CIP IN THERE.

SO OVER ONE POINT EIGHT MILLION HAS BEEN SPENT IN SAN JACINTO.

THAT'S ALL CIP.

AND THEY HAVE ALL OF THEIR BOND ALLOCATION REMAINING.

AND THEN EASTRIDGE.

SO WE WERE PLANNING TO KICK OFF IN EASTRIDGE LATE SPRING OR EARLY SUMMER THAT WAS IN THE WORLD BEFORE COVID.

AND SO AT THIS TIME, WE'RE WE'RE TRYING TO FIGURE OUT WHAT TO DO.

WE SELECTED THE BOUNDARY AND A LOT OF THE INITIAL DATA ANALYSIS IS COMPLETE.

AND RIGHT NOW WE'RE KIND OF EVALUATING THE POSSIBILITY OF A VIRTUAL PROCESS.

I'M SEEING THAT THAT BEING DONE WITH OTHER CITIES, TRYING TO DO PLANS.

BUT I THINK I THINK THAT MIGHT BE REALLY DIFFICULT IN THE PARTICULAR CONTEXT OF EASTRIDGE. OK, SO IF YOU HAVE ANY PARTICULAR QUESTIONS OR ANYTHING ON THE NEIGHBORHOOD PLAN UPDATE, WE CAN PAUSE HERE OR WE CAN KEEP MOVIN.

AND I'LL INTRODUCE THE THE PROPOSAL FOR THE REGISTERED NEIGHBORHOOD ASSOCIATION ORDINANCE. ANY QUESTIONS FOR NOW? OK, THANK YOU. SO WE'VE BEEN WORKING WITH THE NEIGHBORHOOD PLANNING OVERSIGHT COMMITTEE FOR SOME TIME ON THIS, AND IT'S BASED ON ORDINANCES IN OTHER CITIES.

IT'S A ACTUALLY A PRETTY COMMON TOOL.

AND HERE WE'RE PROPOSING IT AS ANOTHER TOOL TO ASSIST OUR REDEVELOPING NEIGHBORHOODS.

SO WHEN I STARTED WORKING WITH THE NEIGHBORHOOD PLANNING PROGRAM, THERE WAS A LOT OF CONFUSION ON THE PART OF THE NEIGHBORHOODS AS TO WHAT THE ONGOING IMPLEMENTATION RELATIONSHIP WAS WITH THE CITY, ESPECIALLY AS IT RELATED TO THE BOND MONEY, HOW IT COULD BE SPENT. AND BOTH THE CITY AND THE COUNTY HAVE INVESTED SIGNIFICANTLY IN THE PROGRAM TO DATE AND WANT IT TO CONTINUE TO BE A PRIORITY.

SO THIS IS SORT OF AN EVOLUTION OF THE NEIGHBORHOOD PLANNING PROGRAM, I WOULD SAY.

[00:30:02]

SO THE PROPOSAL ISN'T LIMITED TO ONLY OUR NEIGHBORHOODS WITH ADOPTED PLANS.

AND GENERALLY THE GOAL IS TO IMPROVE THE FLOW OF INFORMATION AND COMMUNICATION BETWEEN THE CITY AND NEIGHBORHOOD GROUPS, BUT ALSO TO PROVIDE AN OPPORTUNITY FOR COLLABORATION AMONG NEIGHBORHOODS BECAUSE A LOT OF THEM ARE ADDRESSING THE TRYING TO ADDRESS THE SAME CHALLENGES. SO AT THIS TIME, HOMEOWNERS ASSOCIATIONS AND KIDS ARE SUPPOSED TO NOT BE ELIGIBLE BECAUSE OF OUR FOCUS ON OLDER AND REDEVELOPING AREAS.

AND SO I JUST HAVE A FEW SLIDES ON THE SPECIFIC ORDINANCE REQUIREMENTS, SO ARE NEIGHBORHOODS REQUIRED TO DO THIS? THE ANSWER IS YES.

IF YOU HAVE A NEIGHBORHOOD PLAN THAT'S ADOPTED AS PART OF THE COMP PLAN, YOU WOULD BE REQUIRED TO REGISTER IN THE FIRST YEAR AND RENEW ANNUALLY.

BUT THERE THERE IS NO FEE.

AND THEN OTHER NEIGHBORHOODS THAT MAY BE INTERESTED IN THIS HAVE TO MEET THIS CRITERIA HERE, MAINTAIN OPEN MEMBERSHIP TO ANY PERSON THAT LIVES RENT OR OWN PROPERTY, BE AN ORGANIZED ENTITY, WHICH MEANS THAT THEY FILED ARTICLES OF INCORPORATION WITH THE STATE AND THEY HAVE BYLAWS THAT THEY'RE FOLLOWING.

THEY MUST HAVE CLEARLY STATED BOUNDARIES AND THEY NEED TO BE WORKING FROM AN ANNUAL ACTION PLAN AND THEN TO BE NONDISCRIMINATORY.

SO. THE BENEFITS, WHY WOULD WHY WOULD THEY WANT TO DO THIS? WELL, GENERALLY THERE ARE THREE LET'S SAY THERE ARE SORT OF THREE TYPES OF BENEFIT.

SO FOR NEIGHBORHOODS WITH ADOPTED PLANS, THAT CLARITY ON PLAN IMPLEMENTATION IS THE IMPORTANT ONE, BUT THEN ALSO BEING PART OF THIS NETWORK.

SO JUST THE CLEAR COMMUNICATION PLAN TO OFFER A TOOLKIT TO PROVIDE TEMPLATES AND GUIDES, ESPECIALLY INFORMATION SHARING AMONG NEIGHBORHOODS LIKE ONCE ONE HAS FIGURED OUT THAT WOULD BE OTHERS.

DATA. WE'RE CALLING IT DATA FOR DECISION MAKING.

SO PROVIDING THESE INDICATORS, DEMOGRAPHICS, CRIME, ECONOMIC DEVELOPMENT, THAT NEIGHBORHOODS ON THEIR OWN MIGHT NOT HAVE ACCESS TO.

TRAININGS AND WORKSHOPS.

SO, AGAIN, THAT IDEA OF PROVIDING OPPORTUNITIES FOR CROSS NEIGHBORHOOD COLLABORATION AND THEN AS FUNDING BECOMES AVAILABLE, WE WOULD MAKE THAT SOMETHING THAT THESE NEIGHBORHOODS, THE REGISTER NEIGHBORHOODS COULD ACCESS.

AND THEN THE THIRD KIND OF BENEFIT ARE THESE MORE TANGIBLE PROGRAMS. SO WE'RE PROPOSING TO OFFER A FEE WAIVER FOR ONE BLOCK PARTY ANNUALLY AND THEN THE TO PARTICIPATE IN THE CITIES SIGN TOPPER PROGRAM AND INSTALL WELCOME SIGNS AND THEN ALSO TO BE ELIGIBLE TO PARTICIPATE IN THE CITY'S NEIGHBORHOOD PEDESTRIAN SAFETY PETITION PROCESS.

AND SO THAT THESE ARE ALL THINGS THAT THE PUBLIC WORKS DEPARTMENT HAS BEEN DOING KIND OF INFORMALLY. BUT THIS IS GOING TO CODIFY IT AND INCLUDE GUIDELINES ON APPLICATION AND DESIGN AND LETS SEE.

SO AT THIS POINT, WHAT WOULD BE REQUIRED IN THE NEIGHBORHOOD IS NOT REALLY ANYTHING MORE THAN WHAT THEY'RE ALREADY DOING.

THE ONLY DIFFERENCE WOULD BE THAT ANNUAL ACTION PLAN.

AND THAT'S REALLY A TOOL TO HELP US ACCOMPLISH OUR GOAL OF SPENDING THE BOND MONEY STRATEGICALLY. AND THAT IS SOMETHING THAT WITHIN THE ORDINANCE ITSELF, IT TALKS ABOUT HOW STAFF WILL ASSIST WITH THAT PROCESS, PROVIDING COST ESTIMATING AND HELPING WITH THAT, AND THEN ALL THE OTHER THINGS THAT THE ASSOCIATIONS HOPEFULLY ARE ALREADY DOING, COMMITTING TO ACTIVELY WORKING ON PROJECTS AND PROGRAMS THAT ARE CONSISTENT WITH THEIR PLAN, COMPLYING WITH THEIR BYLAWS.

AND THEN ALSO WITHIN THE ORDINANCE, THERE'S LANGUAGE THAT ENCOURAGES THE REGISTER NEIGHBORHOODS TO PROVIDE A FORMAL STANCE ON A MATTER THAT'S A PENDING CITY AGENDA ITEM.

[00:35:05]

I GUESS I JUST WANTED TO CLARIFY THAT, AS IS PROPOSED RIGHT NOW, THAT ONLY THE REGISTERED NEIGHBORHOODS WOULD BE ELIGIBLE FOR THESE THESE BENEFITS, THE NEIGHBORHOOD SIGNS, THE TRAFFIC CALMING AND THE AND THE BLOCK PARTY FEE WAIVER.

SO THAT IS [INAUDIBLE]. SO I DID WANT TO MAKE SURE THEY CLARIFIED THAT.

AND WE'D LIKE TO GET ANY FEEDBACK THAT YOU HAVE.

AND WE'LL KEEP WORKING WITH THE OVERSIGHT COMMITTEE ON THIS AND THE NEIGHBORHOODS AND HOPE TO BRING IT BACK TO YOU SOMETIME IN THE.

WHAT FEEDBACK DO YOU WANT TO GIVE HER? IF ANY. NOT HEARING ANY COMMENTS? I GUESS WE'RE READY TO GO TO THE NEXT ITEM.

RIGHT. TO GIVE US AN UPDATE ON THE WHETHER IT WOULD BE PREFERABLE AND ADVISABLE TO ISSUE

[1C. Update on Issuing Remaining 2016 Voter Approved Bonds; and]

ALL WE HAVE LEFT IS, IS PROPOSITION ONE, WHICH IS ALL TRANSPORTATION, WHICH IS PRIMARILY TRANSPORTATION PROJECTS.

WE HAVE LAURA STORRS, ASSISTANT CITY MANAGER TO GIVE US A PRESENTATION ON THAT.

WE'VE HAD WE'VE BEEN WORKING OVER THE SINCE WE WERE TASKED WITH EVALUATING WHETHER OR NOT WE SHOULD ISSUE OR AT LEAST MAKE A RECOMMENDATION TO ISSUE THE REMAINDER OF THE 2016 [INAUDIBLE] AT ONE TIME TO TAKE ADVANTAGE OF THE SOMEWHAT UNPRECEDENTED INTEREST RATES WE'RE EXPERIENCING RIGHT NOW.

WE'VE GOT SOME INTERESTING INFORMATION SO LAURA TAKE IT AWAY.

THANK YOU, JARED. LET ME SHARE MY SCREEN REAL QUICK.

OK, SO THIS IS JUST AN UPDATE FOR COUNCIL WITH A LITTLE BIT OF REMINDER INFORMATION BACK FROM WHAT WAS PROVIDED IN 2016 WHEN THIS WENT TO THE VOTERS AND WHAT WE'RE SEEING NOW.

SO ON THIS FIRST SLIDE WE HAVE THE BREAKDOWN BETWEEN PROPOSITION ONE AND PROPOSITION TWO, SO UP ON THE LEFT SIDE HERE, YOU CAN SEE THAT THE TOTAL AUTHORIZED AMOUNTS SPLIT BETWEEN PROPOSITION ONE, WHICH WAS FOR STREET PROJECTS, CAME TO EIGHTY NINE MILLION, FOUR HUNDRED AND NINETY FIVE THOUSAND.

THEN THE TOTAL AUTHORIZED BY THE VOTERS IN 2016 FOR PROPOSITION TWO, WHICH IS RELATED TO PUBLIC SAFETY PROJECTS, CAME TO TWENTY MILLION EIGHTY THOUSAND DOLLARS.

IF YOU GO OVER TO THE RIGHT OF THAT AS OF TODAY, THE TOTAL ISSUED RELATED TO PROPOSITION ONE, WHICH WAS FOR STREETS.

THE TOTAL ISSUE DEBT IS THIRTY TWO MILLION, THREE HUNDRED AND FORTY THOUSAND.

AND THEN YOU CAN SEE ON PROPOSITION TWO, WHICH IS FOR PUBLIC SAFETY, THE FULL TWENTY MILLION EIGHTY THOUSAND DOLLARS HAS BEEN ISSUED AT THIS POINT IN TIME.

DOWN HERE ON THE LEFT, YOU CAN SEE THAT THE REMAINING DEBT TO BE ISSUED IS ALL RELATED TO PROPOSITION ONE, WHICH ARE THOSE STREET PROJECTS.

AND THE TOTAL REMAINING IS FIFTY SEVEN MILLION, ONE HUNDRED AND FIFTY FIVE THOUSAND DOLLARS. NOW, OVER HERE ON THE RIGHT, WANTED TO GIVE A QUICK UPDATE ON THE UNSPENT PROCEEDS AT THIS POINT.

SO WE HAVE ABOUT THIRTEEN POINT SIX MILLION ON HAND THAT HAS NOT BEEN SPENT.

BUT OF THAT, THE BULK OF IT WE JUST RECEIVED RELATED TO THE PROPOSITION TWO DEBT ISSUANCE THAT CLOSED IN JUNE OF 2020.

SO THE BULK OF THAT AND IT IS QUICKLY BEING SPENT DOWN ON THE FIRE STATION NUMBER FIVE PROJECT AND ALSO ON THE BUILDING OUT AT ANIMAL MANAGEMENT AND WELFARE.

SO THAT LEAVES ABOUT FIVE AND A HALF MILLION THAT WAS RELATED TO PROPOSITION ONE.

THE BULK OF THAT HAS ALREADY BEEN ALLOCATED TO PROJECTS THAT HAVE ACTIVE CONTRACTS ON THEM. SO THOSE ARE BEING SPENT DOWN VERY QUICKLY.

WE ALSO HAVE A PORTION OF THAT THAT IS SITTING IN THOSE NEIGHBORHOOD PROJECTS THAT I'M SORRY, NEIGHBORHOOD PLAN PROJECTS AND THAT EMILY HAD JUST KIND OF REVIEWED SOME OF THAT INFORMATION WITH YOU ALL.

SO THOSE WILL BE MOVING FORWARD AND BE SPENT SOONER THAN LATER AS WELL.

THE NEXT SLIDE HERE, AND I WANT TO JUST START WITH PROPOSITION TWO, WHICH IS PUBLIC SAFETY FIRST, LOOKING AT IT KIND OF IN A STAND ALONE BECAUSE THE TOTAL AUTHORIZED DEBT HAS ALREADY BEEN ISSUED AT THIS POINT.

[00:40:02]

BACK IN 2016 WHEN WE TOOK THIS TO THE THE VOTERS, THE ESTIMATED PROPERTY TAX RATE IMPACT WAS ONE POINT TWO ONE CENTS.

NOW THAT WE HAVE ISSUED THE DEBT AND WE HAVE SEEN INTEREST RATES CONTINUE TO TREND DOWN SINCE THAT TIME PERIOD, THE ACTUAL PROPERTY RATE TAX RATE IMPACT IS ONE POINT ZERO FOUR CENTS. SO THE REALIZED SAVINGS BETWEEN WHAT WE HAD ORIGINALLY ESTIMATED AND WHAT WE ACTUALLY WOUND UP ISSUING THE DEBT FOR CAME TO POINT ONE SEVEN CENTS.

THE NEXT SLIDE HERE IS ONE OF THE QUESTIONS THAT WAS PRESENTED TO US RELATED TO PROPOSITION ONE FOR STREETS.

SO AS YOU CAN SEE, ALL THE REMAINING DEBT TO BE ISSUED IS FIFTY SEVEN MILLION, ONE HUNDRED AND FIFTY FIVE THOUSAND.

SO THIS SLIDE ASSUMES THAT WE GO AHEAD AND ISSUE ALL OF THAT REMAINING DEBT.

SO WHAT WE WOULD LOOK AT DOING IS ISSUING THE DEBT IN JANUARY OF 2021, AND THAT WOULD MEAN THAT THE DEBT WOULD CLOSE AND WE WOULD RECEIVE THE MONEY AFTER FEBRUARY 15TH OF 2021 . THEN THE RATE IMPACT ASSOCIATED WITH THIS FINAL DEBT ISSUANCE IF WE DID IT ALL AT ONE TIME, IT WOULD ROLL INTO THE 2021 TAX RATE.

SO NOT THE TAX RATE THAT WE HAVE PROPOSED RIGHT NOW, BUT IT WOULD BE THE NEXT YEAR'S TAX RATE AND THE ESTIMATED IMPACT TO THAT TAX RATE FOR THIS FIFTY SEVEN MILLION ISSUANCE WOULD BE TWO POINT SIX ONE CENTS.

SO DOWN HERE AT THE BOTTOM, THIS IS A RECAP OF WHAT WE WOULD BE LOOKING AT IF WE PROCEEDED WITH ISSUING ALL THE REMAINING DEBT AT ONE TIME.

THIS WOULD BE OUR ESTIMATED TOTAL PROPOSITION ONE RESULT.

SO BACK IN 2016, THE ESTIMATED PROPERTY TAX RATE IMPACT RELATED TO PROPOSITION ONE ONLY WAS FIVE POINT FIVE SIX CENTS.

IF WE PROCEED WITH THIS DEBT ISSUANCE, THE ESTIMATED PROPERTY TAX RATE IMPACT WOULD BE FOUR POINT TWO EIGHT CENTS, AND THAT WOULD CREATE A POTENTIAL REALIZED SAVINGS OF ONE POINT TWO EIGHT CENTS.

SO THE NEXT OPTION WOULD BE TO STAGGER THE DEBT ISSUANCE AND NORMALLY THIS WOULD ALWAYS BE THE RECOMMENDATION TO ISSUE THE DEBT WHEN THE PROJECTS ARE COMING ONLINE AND NEED THE DOLLARS.

IN THIS CASE, WHAT WE WOULD LOOK AT IS SPLITTING THE REMAINING FIFTY SEVEN MILLION OVER TWO EQUAL DEBT ISSUANCES.

WE WOULD ISSUE HALF OF THE OUTSTANDING AMOUNT IN JANUARY, 2021 FOR TWENTY EIGHT POINT SIX MILLION, AND THAT WOULD BE USED TO FUND THE SPRING AND SUMMER 2021 PROJECTS.

AND YOU CAN SEE AT THIS POINT THAT THE NEED APPEARS TO BE ABOUT TWENTY FOUR MILLION, BUT WE NEED A LITTLE BIT EXTRA FOR SOME PROJECTS THAT ARE UNDERWAY ALREADY.

SO WE WOULD SPLIT THE DEBT ISSUANCE IN HALF AND DO HALF IN JANUARY 21, AND THEN WE COULD ISSUE THE REMAINING HALF IN JANUARY OF 2022 AND THAT WOULD BE AVAILABLE TO FUND THE SPRING AND SUMMER PROJECTS THAT OCCURRED IN 2022 AND THEN FINALIZING EVERYTHING ON INTO 2023. SO THIS SLIDE SHOWS THE OPTION OF BREAKING THAT APART INTO THOSE TWO DEBT ISSUANCES, THIS NEXT SLIDE, HERE IS WHAT WE ARE RECOMMENDING.

SO WHAT WE WOULD RECOMMEND IS MOVING FORWARD WITH ISSUING ALL THE REMAINING DEBT IN LATE JANUARY OF 2021 FOR THE FIFTY SEVEN MILLION DOLLARS, AND THE REASON WE ARE RECOMMENDING THIS, THERE'S A COUPLE OF REASONS.

FIRST OF ALL, ONE OF THE TESTS IS WE HAVE TO ENSURE THAT WE CAN THAT IT'S REASONABLE FOR US TO SPEND ALL OF THOSE PROCEEDS WITHIN A THREE YEAR PERIOD.

AND I'VE BEEN WORKING VERY CLOSELY WITH FLOYD HARTMAN AND KYLE SCHNEIDERJAN AND THEIR TEAM TO ENSURE THAT THIS IS SOMETHING THAT'S ACHIEVABLE.

AND THEY HAVE ASSURED ME THAT THIS IS ACHIEVABLE, THAT WE IT WOULD BE REASONABLE FOR US TO SPEND ALL OF THE PROCEEDS IF WE ISSUED THE REMAINING FIFTY SEVEN MILLION IN LATE JANUARY 2021 THEY COULD ALL BE SPENT WITHIN THAT THREE YEAR PERIOD.

AND WHAT THAT TRANSLATES TO IS IT TAKES THE INTEREST RATE RISK OFF THE TABLE.

WE ARE IN VERY LOW INTEREST RATES, ALMOST A HISTORICALLY LOW INTEREST RATE PERIOD,

[00:45:01]

BUT THERE THERE HAS BEEN A LOT OF UNCERTAINTY IN THE MARKET OVER THE PAST YEAR FOR SURE.

AND WE DON'T KNOW WHAT THE NEXT YEAR OR TWO WILL BRING.

SO IF WE LOOKED AT GOING AHEAD AND ISSUING ALL THE REMAINING DEBT IN JANUARY 21, AND THAT WOULD LOCK IN THE LOW INTEREST RATES AND IT WOULD JUST TAKE THAT RISK OFF THE TABLE.

NOW, IF WE IF COUNCIL DETERMINED THEY WOULD LIKE US TO MOVE FORWARD WITH SPLITTING IT BETWEEN THE TWO DEBT ISSUANCES AFTER WE ISSUED THE FIRST ONE, WE COULD CERTAINLY WATCH INTEREST RATES VERY CLOSELY.

AND IF WE STARTED TO SEE ANY KIND OF MOVEMENT IN THE MARKET, WE COULD GO AHEAD AND PROCEED WITH THE SECOND, THE SECOND AND FINAL DEBT ISSUANCE.

BUT AGAIN, THE RECOMMENDATION FROM STAFF IS TO GO AHEAD AND ISSUE ALL THE REMAINING DEBT IN LATE JANUARY OF 2021.

IF WE PROCEED WITH THAT RECOMMENDATION.

THIS FINAL SLIDE HERE RECAPS THE TOTALS OF PROPOSITION ONE AND PROPOSITION TWO AND THEIR EFFECTS ON THE PROPERTY TAX RATE.

SO BETWEEN THE TWO PROPOSITIONS, THE TOTAL AUTHORIZED AND EVENTUALLY ISSUED DEBT WILL BE ONE MILLION I'M SORRY, ONE HUNDRED NINE MILLION FIVE HUNDRED SEVENTY FIVE THOUSAND.

BACK IN 2016 THE ESTIMATED PROPERTY TAX RATE IMPACT WAS SIX POINT SEVEN SEVEN CENTS.

IF WE ISSUE THE DEBT BASED ON OUR ASSUMPTIONS IN JANUARY 2021, THE ESTIMATE OF ACTUAL PROPERTY TAX RATE IMPACT WOULD BE FIVE POINT THREE TWO CENTS AND THAT WOULD CREATE AN ESTIMATED POTENTIAL SAVINGS OF ONE POINT FOUR FIVE CENTS.

SO THAT IS THE END OF WHAT I WAS PRESENTING TO COUNCIL.

I WANT TO OPEN IT UP IF THERE'S QUESTIONS ABOUT ANY OF THESE SLIDES OR IF THERE'S FURTHER INFORMATION THAT I CAN PROVIDE.

OK, SO IF I CAN JUST JUMP IN REAL QUICK, THE TAKING THE INTEREST RATE RISK OFF THE TABLE IS REALLY WHAT WE'RE TALKING ABOUT.

WE CAN SPREAD THE REMAINING FIFTY SEVEN MILLION, $57.155 MILLION OUT OVER TWO ISSUANCES. SO YOUR RISK IS POSSIBLY HAVING A HIGHER INTEREST RATE ON TWENTY EIGHT POINT SIX MILLION DOLLARS FOR THAT SECOND ISSUANCE.

SO REALLY, WE'RE TALKING ABOUT DO WE WANT TO ISSUE THE FIFTY SEVEN POINT ONE FIVE FIVE OR TWO SEPARATE ISSUANCES OF TWENTY EIGHT POINT SIX, WHERE THAT SECOND ISSUANCE, THE INTEREST RATE IS UNKNOWN AND IT COULD GO UP AS THE ECONOMY RECOVERS AND AS WE COME OUT OF CORONAVIRUS. THAT ISSUANCE WOULD TAKE PLACE IF WE DID, TOO, IN JANUARY OF 2022.

OK. WOULD YOU GO BACK TO SLIDE FIVE REAL QUICK FOR ME? YES, RIGHT HERE.

YES, MA'AM. OK, SO SO AM I GETTING THIS RIGHT THAT WE'RE GOING TO SPEND TWENTY EIGHT POINT SIX MILLION ON SPRING AND SUMMER PROJECTS? YES, THAT IS RIGHT.

WE WOULD SPEND APPROXIMATELY HALF OF THE REMAINING OUTSTANDING DEBT DURING SPRING AND SUMMER OF 2021.

OK, SO NOW THEN HERE'S THE NEXT THING.

SO TELL ME IF I'M WRONG IN THE DIRECTION THAT I'M HEADING WITH THIS.

OK, SO WHENEVER WE DID THE THOMPSON PARK POOL AND ISSUED THE BONDS FOR THE THOMPSON PARK POOL THAT COUNTED FOR A TAX RATE OF 0.041 OR SOMETHING LIKE THAT.

CORRECT. I BELIEVE THAT'S RIGHT.

I'LL HAVE TO PULL THAT NUMBER IF I CAN FIND IT.

IT'S SOMEWHERE RIGHT THERE BETWEEN FOUR TENTHS OF A CENT AND FIVE TENTHS OF A CENT.

YES, IT WAS. SO FROM WHAT I'M GATHERING HERE, THAT BASICALLY SO THAT WAS EIGHT MILLION.

SO IF YOU MULTIPLY THAT BY THREE, IN ESSENCE, WHAT WE'RE DOING BY ISSUING THIS IS WE HAVE, IN ESSENCE, GIVEN THE ABILITY MONETARILY WISE FOR ANOTHER YEAR OF SUMMER, SPRING PROJECTS, IN ESSENCE.

THAT A DOLLAR THAT PENNY 26 OR PENNY 45, HOWEVER YOU LOOK AT IT.

SO IN OTHER WORDS, THE SAVINGS IS THE EQUIVALENT OF A WHOLE NOTHER YEAR OF SPRING AND SUMMER PROJECTS.

OK, SO IF WE PROCEED WITH THIS DEBT ISSUANCE AND COUNCIL MEMBER SAUER I HOPE I'M FOLLOWING YOU ON THIS, SO PLEASE STOP ME IF I'M NOT YOU.

IF WE SPLIT BETWEEN THESE TWO DEBT ISSUANCES, THE MONEY THAT WE ISSUED IN JANUARY OF 2021, WE'D HAVE THREE YEARS TO SPEND THOSE FUNDS.

NOW WE ANTICIPATE SPENDING THE BULK OF IT IN 2021, AND THEN THE REMAINING HALF OF THE

[00:50:07]

BUT AT THIS POINT WE ARE ANTICIPATING THAT BETWEEN THE SUMMER AND SPRING PROJECTS OF 22 AND 23, ALL THE FUNDS WILL BE SPENT.

SO EITHER WAY, WE ARE GOING TO BE WITHIN THE THREE YEAR REQUIREMENTS TO SPEND THE FUNDS.

IT'S JUST THIS, THIS OPTION HERE WOULD PUT MORE INTEREST RATE RISK ON THE TABLE, BUT IT WOULD SHIFT OUT THE IMPACT TO PROPERTY TAXES.

HALF OF IT WOULD OCCUR IN ON THE 21 RATE AND THE OTHER HALF WOULD OCCUR ON THE 22 RATE.

BUT AGAIN, THERE IS THAT INTEREST RATE RISK.

WE DON'T KNOW WHAT THE INTEREST RATE ENVIRONMENT WILL BE IN JANUARY OF 22.

DOES THAT.

YEAH, I THINK NO ACTUALLY I THINK IT KIND OF MISSED THE POINT JUST A LITTLE BIT, I GUESS.

REALLY? WELL, I'M SORRY. NO, NO, THAT'S OK.

NUMBER ONE, I'M FOR DOING IT ALL RIGHT.

NOW, I'M JUST SAYING THAT I'M FOR DOING IT ALL RIGHT NOW.

ALL I'M SAYING IS FROM WHAT WAS ORIGINALLY VOTED ON AND THE AMOUNT THAT WAS GOING TO BE SPENT AND WHAT IT'S GOING TO COST THE TAXPAYERS AND WHAT IT IS NOW, THE SAVINGS IS THE EQUIVALENT OF US HAVING A WHOLE NOTHER YEAR OF SPRING AND SUMMER PROJECTS.

I SEE WHAT YOU'RE SAYING.

YES, THAT WOULD BE DOING THE MATH.

THAT'S ABOUT RIGHT.

BECAUSE LET ME GO LET ME FLIP FORWARD A SLIDE.

SO WE HAD ORIGINALLY AND I'M DOING MATH, I CAN'T DO MATH IN MY HEAD.

I APOLOGIZE. THE PROPERTY TAX IMPACT AT ON THE SIX POINT SEVEN SEVEN CENTS WAS ABOUT ONE POINT THIRTY FIVE CENTS PER YEAR, WHICH IS ABOUT WHAT OUR SAVINGS IS BASED ON THOSE INTEREST RATES GOING DOWN.

SO SO YOU ARE RIGHT, THE SAVINGS THAT WE ARE INCURRING IS ABOUT WHAT IT WOULD COST FOR US TO DO ONE MORE YEAR OF PROJECTS.

TWENTY FOUR MILLION DOLLARS OR [INAUDIBLE] TWENTY EIGHT MILLION DOLLARS SAVINGS.

YES, YOU YES, YOU ARE EXACTLY RIGHT.

I'M FOLLOWING YOU NOW.

SORRY ABOUT THAT. NO, NO, NO, NO.

SO I THINK I THINK WE SHOULD I THINK THE FACT THAT IN ESSENCE, WHAT HAS COME TO THE END BY MAKING THESE KIND OF MOVES, WE'RE ACTUALLY SETTING UP THE CITY TO HAVE THE ABILITY FOR ANOTHER YEAR OF STREET PROJECTS AT NO MORE THAN WHAT WE HAVE ALREADY ACHIEVED SORT OF . YOU UNDERSTAND WHAT I'M SAYING? IN OTHER WORDS, WE'VE SAVED BETWEEN TWENTY FOUR AND TWENTY EIGHT MILLION DOLLARS.

YES. THAT IS RIGHT. SO I THINK.

[INAUDIBLE] QUESTIONS.

SO, LAURA, WHAT WHAT IS THE INTEREST RATE THAT YOU'RE RUNNING THESE ESTIMATES ON THAT WE COULD ISSUE FOR RIGHT NOW? YES, MA'AM.

LET ME LET ME PUT THAT ON REAL QUICK.

WE ARE LOOKING AT APPROXIMATELY A TWO POINT TWO EIGHT PERCENT INTEREST RATE.

AND AGAIN, THAT I'LL BE HONEST, THAT HAS A LITTLE BIT OF CUSHION BUILT INTO IT.

IT HAS ABOUT TWENTY FIVE BASIS POINTS JUST FOR UNFORESEEN MARKET MOVEMENT THAT COULD OCCUR BETWEEN RIGHT NOW AND WHENEVER WE LOOKED AT PROCEEDING WITH THIS.

SO IT HAS A LITTLE BIT OF A CUSHION, BUT IT'S 2.28 PERCENT.

SO IT MIGHT ACTUALLY BE LESS BASED ON TODAY'S NUMBERS, WHEN YOU'RE TALKING THAT'S THE DIRECTION YOU YOU ADDED A LITTLE BIT MORE.

YES, THAT'S CORRECT.

SO POTENTIALLY THIS FINAL SLIDE THAT WE'VE GOT UP HERE ON THE SCREEN, THIS POTENTIAL SAVINGS COULD ACTUALLY INCREASE A LITTLE BIT FROM THAT.

CAN YOU GO BACK TO THE SLIDE THAT TALKED ABOUT AND WHAT THE ORIGINAL PROPOSITION WAS AND HOW MUCH OUT OF THE TOTAL HAS BEEN ISSUED TO THIS POINT? SO I KNOW THE TOTAL WAS THE EIGHTY NINE POINT FIVE.

LET ME GO. RIGHT? NOPE.

HANG ON. LET ME MAKE IT TO THE RIGHT ONE, I THINK.

IS THAT THIS SLIDE YOU WANT TO LOOK AT? THAT'S RIGHT.

SO WE HAVE OUT OF PROP ONE FIFTY SEVEN POINT ONE LEFT.

AND SO AM I DOING MY MATH RIGHT THAT WE WE BASICALLY SPENT THIRTY TWO POINT FOUR.

THAT'S THERE.

[00:55:02]

TO FINISH IT.

[INAUDIBLE] 2016 I'M TRYING TO FIGURE OUT, DID IT TAKE US THREE YEARS OR IS THIS FOUR YEARS WORTH OF PROJECTS TO HAVE SPENT THIRTY TWO MILLION.

SO WE WOULD ACTUALLY BE IN LETS SEE HERE.

WE WOULD BE IN THE FOURTH YEAR AND ON THIS ND I'VE TALKED WITH KYLE SCHNEIDERJAN QUITE A BIT ON THIS, THAT FIRST YEAR OR SO, A LOT OF TIME AND BUT NOT A LOT OF MONEY WAS SPENT ON THE DESIGN OF PROJECTS.

AND THE WAY THAT THE FIVE YEAR PLAN WAS WAS PLANNED WAS THAT THE LARGE SCALE PROJECTS, SO THE PROJECTS THAT ARE RECONSTRUCTING STREETS, SO TEARING OUT A COMPLETE STREET AND REBUILDING IT, THOSE BIG LARGE SCALE PROJECTS WERE PLANNED TOWARDS THE END OF THE ORIGINAL FIVE YEAR PLAN.

AND THAT'S WHERE YOU REALLY PICK UP MOMENTUM AND YOU SEE A LOT OF THOSE LARGE DOLLAR EXPENDITURES GOING ON.

BUT IT TAKES A LOT OF TIME FOR DESIGN TO GET TO THAT POINT.

SO, YES, IT WAS A LITTLE BIT SLOWER IN THE FIRST FEW YEARS OF SPENDING THOSE DOLLARS.

BUT THE LARGE SCALE PROJECTS ARE WHAT WE ARE WORKING ON THIS UPCOMING ISSUANCE FOR.

THAT'S WHERE WE'RE GOING TO START SEEING SOME OF THE LARGER PROJECTS.

AND I DO CERTAINLY HAVE KYLE SCHNEIDERJAN AND FLOYD HARTMAN AVAILABLE IF THERE'S REAL SPECIFIC QUESTIONS ON IT.

BUT THAT'S KIND OF JUST AN OVERVIEW OF WHAT IT LOOKS LIKE.

SO, YES, THE FIRST SEVERAL YEARS, ABOUT THIRTY TWO MILLION IS WHAT'S BEEN SPENT OR HAS BEEN PUT UNDER CONTRACT.

BUT THEN THE REMAINING FIFTY SEVEN MILLION WILL ALMOST COMPLETELY BE SPENT IN TWO YEARS.

SO IN 21 AND 22 AND THERE WILL JUST BE A LITTLE BIT LEFT TO SPEND IN 23.

AND MAYBE IF KYLE COULD ADDRESS, IF THERE WERE I MEAN, IT IS A LOT OF MONEY TO SPEND IN A SHORT AMOUNT OF TIME, AND IF THERE WERE LIKE SOME SPECIFIC REALLY LARGE PROJECTS, TWO OR THREE, THAT ABSOLUTELY MAKES SENSE THAT WE LOST SOME TIME AT THE BEGINNING IN THAT FIRST YEAR AFTER THE PROPOSITION PASSED, JUST IN THE STRATEGY, THE WHOLE STRUCTURE, AND THEN BEFORE YOU COULD REALLY BEGIN IMPLEMENTING.

BUT I THINK IT TOOK US ALMOST FOUR YEARS TO DO THE THIRTY TWO MILLION WE'RE TALKING ABOUT. FIFTY SEVEN MILLION THAT I REMEMBER THAT BEING PART OF THE CONVERSATION AT THE VERY BEGINNING OF JUST IT'S LIKE THERE'S ONLY SO FAST YOU CAN SPEED UP ALL THOSE PROJECTS. THERE'S ONLY SO MANY CONSTRUCTION CREWS.

THERE'S ONLY, YOU KNOW, SO MANY BOOTS ON THE GROUND THAT YOU THAT YOU ACTUALLY HAVE TO IMPLEMENT AND SPEND THOSE DOLLARS AT THAT PACE.

NOW, LET ME STOP SHARING MY SCREEN REAL QUICK SO YOU ALL CAN KIND OF SEE EACH OTHER A LITTLE BETTER. KYLE? YEAH. DO YOU MIND ADDRESSING MAYBE A FEW OF THE PROJECTS WE'VE BEEN DOING AND THEN WHAT THE BIG ONES COMING ARE KIND OF LOOKING LIKE? SURE, ABSOLUTELY. AND JUST JUST A LITTLE BIT OF TIMING AND THINGS THAT THAT DO INFLUENCE OUR DAY TO DAY OPERATIONS.

SO, FOR EXAMPLE, THAT FIRST ISSUANCE IN 2016 WAS A MAY ISSUE, SO MAY OF 2016.

THE WHAT'S SIGNIFICANT ABOUT THAT IS TRANSPORTATION, THE ROADWAY CONSTRUCTION PROBLEMS WITH THAT IS THAT'S RIGHT IN THE CENTER OF MY PAVING SEASON.

SO I LOST THAT, WE LOST THAT PAVING SEASON WITH THAT ISSUANCE IN MAY BECAUSE YOU COULDN'T HAVE A PROJECT JUST ABSOLUTELY READY TO GO TO BE CONSTRUCTED IN JULY OR JUNE RIGHT AFTER THAT ISSUE. SO I WOULD SAY, YES, IT HAS BEEN FOUR CALENDAR YEARS, WE'VE DONE THREE MAJOR CONSTRUCTION SEASONS.

AND THAT MAKES A LITTLE BIT OF A DIFFERENCE.

BUT THEN LIKEWISE.

ABSOLUTELY. THOSE FIRST PROJECTS ARE OUT OF THE GATE, WERE HIGH MAINTENANCE TYPE PROJECTS, PROJECTS THAT DIDN'T HAVE ANY KIND OF RIGHT A WAY ACQUISITION, ANY KIND OF OTHER UTILITY ADJUSTMENTS.

A HAS TO HAPPEN BEFORE B HAS TO HAPPEN BEFORE C AND AND THEN COORDINATION WITH THE WATER AND SEWER BOND ISSUANCES AND THE DRAINAGE UTILITY BOND ISSUANCES.

AND SO WE HAVE HAD A LAG IN BRINGING THOSE PROJECTS UP AND ONLINE.

WE FOCUSED MAINLY EARLY ON THOSE ON THOSE MAINTENANCE PROJECTS THAT DON'T HAVE THAT HEAVY INTERACTION. AND THEN TOWARDS THE END OF OUR JOB, JUST LIKE OR THE END OF OUR PACKAGE LIKE LAURA DESCRIBED, WE'LL BE FOCUSING ON THOSE ON THOSE LARGER CONSTRUCTION PROJECTS

[01:00:05]

THAT'S THAT'S A GOOD BASIC DESCRIPTION OF IT.

DO YOU HAVE. IF I CAN ADD THERE, IF I COULD ADD THERE.

COUNCIL MEMBER HAYS, THERE WAS A SPECIFIC FOCUS ON THE PUBLIC SAFETY OVER THE LAST TWO YEARS, WHICH INTENTIONALLY PUSHED SOME OF THE PROP ONE TO FUTURE YEARS.

SO WE FOCUSED ON THE PUBLIC SAFETY TO MAKE SURE THAT THE FIRE STATIONS, ANIMAL MANAGEMENT WELFARE AND THOSE GOT TIMELY.

THE MAJOR PROJECTS THAT YOU'RE GOING TO SEE COMING FORWARD, THE FOURTH QUADRANT WILL BE NEXT YEAR. YOU'LL SEE A HEAVY FOCUS ON OVERLAY.

AND THEN THOSE MAJOR CONSTRUCTIONS AND THOSE ARE VERY LARGE PROJECTS THAT ARE ALL WITHIN THE TIMEFRAME OF THE THREE YEARS.

SO WE'D BE MORE SPECIFIC.

LET US KNOW. THANK YOU.

LAURA, DO YOU REMEMBER WHAT INTEREST RATES WERE USED IN THE FIRST ISSUANCE, THE FIRST ROUND, THE FIRST ROUND OR TWO? LET ME GRAB THAT INFORMATION FOR YOU REAL QUICK, AND I DID WANT TO STATE SOMETHING KYLE HAD MENTIONED, THE FIRST ISSUANCE WAS IN MAY AND I THINK HE HAD SAID 2016, BUT IT WAS ACTUALLY MAY OF 2017.

AND SO WE KIND OF, AS YOU MENTIONED, LOST THAT 2017 SUMMER MONTHS, SUMMER TIME.

SO WE REALLY HAD 18, 19, AND WE'RE IN THE MIDDLE OF THAT THIRD SEASON RIGHT NOW.

SO THE FIRST ISSUANCE, OUR INTEREST RATE WAS.

I DON'T HAVE THE EXACT ONE HERE IN FRONT OF ME, BUT IT WAS IT WAS OVER THREE PERCENT.

SO WE ARE LOOKING AT OVER A WHOLE PERCENTAGE POINT IN SAVINGS AT THIS POINT IN TIME.

AND AGAIN, WHEN THOSE NUMBERS WERE THOSE ESTIMATES WERE PUT TOGETHER FOR THE VOTERS IN 2016. THEY HAD SOME CUSHION BUILT INTO THEM BECAUSE WE DIDN'T KNOW IF INTEREST RATES WERE POTENTIALLY GOING TO RISE OVER A FIVE YEAR PERIOD.

SO THEY HAD TO KIND OF BE CONSERVATIVE AND ADD IN A LITTLE BIT ACCOUNTING FOR THE FACT THAT THOSE RATES, BECAUSE WE WERE EVEN IN A LOW INTEREST RATE PERIOD AT THAT POINT IN TIME. AND SO THEY WERE STILL RISING AT THAT POINT.

AND THEN, OF COURSE, THEY TURNED AROUND AND THEY STARTED DROPPING.

SO, YES, WE ARE CERTAINLY LOOKING AT MORE FAVORABLE INTEREST RATES AT THIS POINT, A LOT MORE THAN WHAT WE HAD ORIGINALLY ANTICIPATED ON THOSE ISSUANCES.

THANK YOU, LAURA AND KYLE AND FLOYD. THANK YOU, GUYS.

YES.

LET ME ASK A QUESTION. YES.

EDUCATE ME ON THE TIME FRAME NECESSARY TO SELL BONDS.

WHY NOT SELL THEM IN NOVEMBER RATHER THAN JANUARY? OK, THAT'S A VERY GOOD QUESTION.

SO THE REASON THE TIMING THAT WE'RE PROPOSING IF THE MONEY IS RECEIVED, SO THE DEBT IS CLOSED BEFORE FEBRUARY 15TH, WHICH IS ALMOST OUR MIDPOINT IN THE FISCAL YEAR, WE WOULD OWE OUR VERY FIRST DEBT SERVICE PAYMENT IN THE CURRENT FISCAL YEAR.

SO WHAT THAT WOULD ENTAIL IS THAT WE WOULD HAVE TO PULL MONEY BECAUSE WE DON'T HAVE THIS DEBT ISSUANCE BUILT INTO THE PROPOSED INS PORTION OF THE PROPERTY TAX RATE FOR THE 20 20 TAX RATE THAT WE'VE ALREADY STARTED PRELIMINARY DISCUSSING WITH COUNCIL.

SO WE WOULD HAVE TO PULL THAT FIRST INTEREST PAYMENT ON THOSE DEBT SERVICE, ON THAT DEBT SERVICE PAYMENT OUT OF RESERVES.

AND BY ALL MEANS, WE COULD CERTAINLY DO THAT.

WE SHOULD HAVE SUFFICIENT FUNDS TO COVER THAT.

BUT THE RECOMMENDATION WOULD BE IF IT'S DONE AFTER FEBRUARY 15TH, WE CAN DEFER THAT FIRST DEBT SERVICE PAYMENT TILL THE NEXT FISCAL YEAR, WHICH IS ALLOWS US TO ADJUST THE PROPERTY TAX RATE ACCORDINGLY.

ONCE WE HAVE THAT THOSE DEBT SERVICE AMOUNTS SET IN TIME AND THE WAY THE PROPERTY TAX RATE WORKS, YOU CAN NOT ADJUST THE INTEREST AND SINKING PORTION OF THE PROPERTY TAX RATE FOR AN ANTICIPATED DEBT ISSUANCE.

YOU CAN ONLY ADJUST IT FOR DEBT ISSUANCES THAT HAVE ALREADY OCCURRED.

SO THAT'S WHY WE HADN'T BROUGHT TO COUNCIL ANYTHING RELATED TO AN UPCOMING DEBT ISSUANCE, BECAUSE WE CAN'T. WE CAN'T UNTIL IT OCCURS.

AND AGAIN, THAT'S WHERE IT GETS A LITTLE BIT TRICKY.

BY ALL MEANS, YOU CAN ISSUE EARLIER IN THE YEAR, BUT YOU HAVE TO USE ANY AVAILABLE RESERVES TO COVER THAT AND THEN YOU WOULD ADJUST A PROPERTY TAX RATE GOING FORWARD.

SO, AGAIN, WE CAN WE COULD CERTAINLY DO IT EITHER WAY BASED ON DIRECTION FROM COUNCIL.

[01:05:01]

THE PRIMARY DIFFERENCE BETWEEN NOVEMBER AND FEBRUARY IS NOVEMBER, ISSUING IN NOVEMBER VERSUS JANUARY AND CLOSING FEBRUARY IS DOING IT THE WAY WE'RE PROPOSING WILL AVOID HAVING TO UTILIZE RESERVE FUNDS THAT WILL CAPTURE THE LOW INTEREST RATES WHILE DEFERRING TO THE MAXIMUM EXTENT POSSIBLE POINT IN TIME AT WHICH THE TAX RATE WILL GET THE TAXPAYERS AND ALSO DEFERRING TO THE MAXIMUM AMOUNT POSSIBLE THE FIRST DEBT SERVICE PAYMENT.

SO WE'LL CAPTURE THE LOW INTEREST RATE AND NOT HAVE TO SPEND ANY RESERVE AND BE ABLE TO DEFER TO THE MAXIMUM EXTENT POSSIBLE, ANY TAX RATE IMPACT TO TAXPAYERS.

LET ME SAY I'M IN FAVOR OF SETTLING ALL BONDS IN JANUARY, YOU GAVE ME A GOOD ANSWER TO THAT QUESTION.

I GOT ONE OTHER QUESTION.

YES, SIR. THIS MAY NOT BE PRACTICAL.

CAN YOU DO TWO SEASONS WORTH IN ONE YEAR? KYLE AND FLOYD, THAT WOULD PROBABLY BE A QUESTION FOR YOU ALL IS, IS THAT EVEN POSSIBLE? THE PRIMARY CONSIDERATION ON GETTING TO THAT LEVEL IS THE CONTRACT AVAILABILITY, YOU WANT TO MAKE SURE THAT WE DO THE MOST EFFECTIVE, EFFICIENT PROCUREMENT CONTRACTOR AND RESOURCES AND JUST JUST FROM OUR HISTORY DOING PROJECT, THE MAGNITUDE OF THOSE, WE'VE NEVER BEEN A PROJECT OF 40 MILLION.

SO WE DON'T KNOW EXACTLY WHAT THE COMMUNITY CAN ABSORB AND NOT ABSORB, BUT WE WOULD ANTICIPATE THAT THAT WOULD EXCLUDE LOCAL VENDORS MORE THAN SPLITTING IT INTO TWO.

SO I THINK IT'S MORE BENEFICIAL TO THE LOCAL CONTRACTORS TO SPLIT IT IN, TO KEEP US UP TO THIS LEVEL TO MOST BENEFIT LOCAL CONTRACTORS.

SO THAT WOULD BE A CONSIDERATION.

YES, WE CAN DO IT, BUT YOU'RE PROBABLY GOING TO HAVE A NATIONWIDE, VERY LARGE COMPANY TAKE THAT LEVEL OF PROJECT. OK, THANK YOU.

YES, WE COULD DO IT BUT THERE'S CONSIDERATIONS.

MY MAIN QUESTION IN THE FIRST PLACE WAS COULD SAVE INTEREST SOUNDS LIKE WE COULD.

AND THE OTHER THING I LIKE, WE GOT TEXAS TECH BUILDING A NINETY MILLION ARE SOLDIER OUT THERE AND I WANT TO GET JOBS OUT THERE FOR PEOPLE IN THIS COMMUNITY TO HAVE JOBS.

AND SO THAT'S THAT'S WHY I ASK THAT QUESTION, BUT IT'S NOT PRACTICAL THAT'S FINE.

WHAT OTHER QUESTIONS AFTER? SO, MR. CITY MANAGER, WHAT WOULD BE THE STEP AT THIS POINT, IS THIS SOMETHING THAT NEEDS TO BE PUT ON THE AGENDA? IS THIS JUST A DISCUSSION TO GIVE THE STAFF DIRECTION? WHAT IS THE NEXT REQUIRED STEP? WE'RE REALLY JUST WANTED TO GET SOME INPUT FROM COUNCIL ON THESE OPTIONS.

AND YOU WILL NO MATTER WHAT OPTION WE GO FORWARD WITH, THERE'S GOING TO BE MULTIPLE OPPORTUNITIES FOR YOU ALL TO TAKE ACTION AS WE GO FORWARD.

REALLY JUST WANTING TO MAKE SURE YOU UNDERSTOOD THE TAX RATE AND INTEREST RATE IMPACTS OF THE OPTIONS THAT WE HAVE IN FRONT OF US.

AND REALLY, IT'S DIFFICULT TO SAY EXACTLY WHAT THE TAX RATE IMPACT AND INTEREST RATE IMPACT IS OF DEFERRING THAT SECOND HALF TO THE FOLLOWING YEAR BECAUSE WE DON'T KNOW WHAT INTEREST RATES ARE GOING TO DO. WE DO KNOW THAT THEY ARE CURRENTLY AT THE LOWEST WE'VE EVER SEEN THEM. THEY'RE AT HISTORIC LOWS.

SO BUT ONCE WE HAVE THE INPUT FROM YOU, WE'LL JUST GO FORWARD WITH PROJECTS, AS WE'RE HEARING YOU SAY, AND HAVE THEM IN FRONT OF YOU FOR APPROVAL.

AND WE'LL HAVE A NUMBER OF DISCUSSION OPPORTUNITIES PRIOR TO HAVING IT IN FRONT OF YOU FOR FINAL APPROVAL OR WHETHER IT'S JANUARY OR FEBRUARY OR WHAT.

OK, SO SO MY UNDERSTANDING IS THIS DOES NOT REQUIRE A VOTE THAT HAS ALREADY BEEN APPROVED BY VOTERS, THE TIMING OF THE ISSUANCE IS JUST THE DETAILS WALKING OUT THE DETAILS AND IS NOT A REQUIRED CITY COUNCIL VOTE, CORRECT? CORRECT. WE'RE REALLY JUST RECOGNIZING AND THROUGH YOURS AND COUNCIL MEMBER SMITH MAYOR PRO TEM SMITH AND OTHERS, GOOD QUESTIONS DURING THE BUDGET PROCESS IF WE HAVE AN OPPORTUNITY TO SAVE MONEY BY ISSUING THE DEBT NOW AND IF WE CAN FINISH UP THE ALL OF THE PROJECTS INSIDE THE STATUTORILY REQUIRED TIME OR THE RECOMMENDED TIMING OF THREE YEARS AFTER ISSUING THE

[01:10:01]

YES, SIR.

I UNDERSTAND STAFF THINKS WE CAN DO THIS THREE YEARS VERY COMFORTABLY.

WHAT IF WE MISS THAT THREE YEARS? WHAT'S THE PENALTY? THERE ARE NO PENALTIES IN AND OF ITSELF FOR MISSING THE THREE YEARS.

NOW, IF WE HAVE THAT PROCEED, THE PROCEEDS FROM THE BOND ISSUANCES, WE'RE GOING TO THE AMOUNT THAT WE DON'T SPEND.

WE WILL CONTINUE TO INVEST.

NOW, THE INVESTMENT MARKETS THAT WE'RE ABLE TO PARTICIPATE IN DON'T GENERATE HUGE RETURNS, ESPECIALLY WHEN INTEREST RATES ARE SO DRAMATICALLY LOW.

BUT OUR RESTRICTION THERE IS THAT WE CAN'T GENERATE MORE REVENUE OR A HIGHER INTEREST RATE THAN WHAT WE'RE PAYING FOR THAT MONEY.

SO LET'S SAY WE GET IT AT TWO AND A HALF PERCENT OR TWO PERCENT, SOMETHING LIKE THAT.

THAT'S GOING TO BE THE CAP FOR WHAT WE CAN GENERATE WITH THAT MONEY.

SO THAT'S REALLY THE BIGGEST THING THAT WE HAVE TO WATCH OUT FOR.

AND WE CAN'T KNOWINGLY ISSUE THE DEBT KNOWING THAT WE ARE NOT GOING TO BE ABLE TO FINISH THE PROJECTS IN THREE YEARS.

BUT WE HAVE A VERY GOOD CONFIDENCE THAT WE CAN FINISH THE PROJECTS BECAUSE THERE ARE ALWAYS THINGS LIKE ECONOMIC DOWNTURNS OR CONSTRUCTION COMPANY AVAILABILITY, THINGS LIKE THAT, WEATHER, THINGS THAT MIGHT SLOW DOWN PROJECTS.

SO THERE'S ALWAYS THINGS OUTSIDE OUR CONTROL THAT CAN CAUSE PROJECTS TO GO BEYOND THREE YEARS. BUT THERE'S NO PENALTY IN AND OF ITSELF FOR GOING BEYOND THREE YEARS.

BUT IF OUR INTEREST RETURNS ARE HIGHER THAN THEY'RE ALLOWED TO BE, WE MIGHT FACE SOME ARBITRAGES, PENALTIES OR SOMETHING LIKE THAT.

AND THERE CAN BE VERY MINOR. LET ME ASK YOU, EDDY SAUER MADE A COMMENT, I THINK, IN SUPPORT OF MOVING AHEAD AND I DID.

FREDA POWELL DO YOU HAVE ANY COMMENT ON THIS? NO MAYOR PRO TEM, I DO NOT THANK YOU.

ELAINE DO YOU HAVE ANY COMMENTS? NO, I'VE ASKED MY QUESTIONS.

I APPRECIATE IT. ALL RIGHT, WE WILL WE'VE GOT THAT INPUT.

WE'LL PLAN ACCORDINGLY, BUT WE WILL ALSO HAVE THIS IN FRONT OF COUNCIL, LIKE I SAID, WELL IN ADVANCE OF ANY ISSUANCE DESCRIBING EXACTLY WHAT'S GOING TO HAPPEN, WE WILL HAVE STEVEN ADAMS IN OUR INVESTMENT.

OUR BOND CONSULTANTS AND BOND COUNCIL AVAILABLE TO ANSWER QUESTIONS FROM COUNCIL AS WELL? THEY'VE BEEN INTEGRAL IN PREPARING THE PRESENTATION YOU'VE SEEN AND THE ANALYSIS THAT WE PRESENTED TO YOU. SO WE WILL HAVE MORE OPPORTUNITIES FOR YOU TO SEE THIS BEFORE WE ISSUE ANY ANY FINAL DEBT.

IF WE'RE THROUGH THAT ISSUE WILL MOVE TO ITEM 1D, AND THAT IS, DO WE HAVE ANY FUTURE AGENDA ITEMS OR A REPORT FROM THE CITY MANAGER? THEN WE'LL GO TO THE LAST ITEM EXECUTIVE SESSION ON TO CITY ATTORNEY TO READ US INTO

[2. EXECUTIVE SESSION]

GLAD TO MAYOR PRO TEM.

PURSUANT TO THE TEXAS OPEN MEETINGS ACT, CLOSED SESSION OF THE AMARILLO CITY COUNCIL WAS ANNOUNCED ON AUGUST THE 18TH 2020 AT 2:13 P.M.

UNDER THE FOLLOWING AUTHORITY, SECTION FIVE FIVE ONE POINT ZERO SEVEN TWO DISCUSS THE PURCHASE EXCHANGE SALE LEASE OR VALUE OF REAL PROPERTY, PUBLIC DISCUSSION SUCH WOULD NOT BE IN THE BEST INTEREST TO THE BARGAINING POSITION.

THANK YOU. SEE YOU IN THE NEXT MEETING.

* This transcript was compiled from uncorrected Closed Captioning.