Transportation Funding Sources Transportation Funding Sources and Alternativesand Alternatives
July 9, 2015July 9, 2015
OutlineOutline
Current Funding Sources and UsesCurrent Funding Sources and Uses– Maintenance of Existing InfrastructureMaintenance of Existing Infrastructure– New ProjectsNew Projects
Additional Potential Funding SourcesAdditional Potential Funding Sources
Current Funding - Maintenance Current Funding - Maintenance of Existing Infrastructureof Existing Infrastructure
SourcesSources– General FundGeneral Fund
UsesUses– Street Maintenance Budget Street Maintenance Budget $4,069,696$4,069,696– Traffic Signal Budget Traffic Signal Budget 896,042 896,042– Traffic Signs and Markings Traffic Signs and Markings 367,175 367,175– Total $5,332,913Total $5,332,913
Current Funding – New ProjectsCurrent Funding – New Projects
General Obligation BondsGeneral Obligation Bonds– Approved by votersApproved by voters
– 2008 GO Bonds authorized for transportation 2008 GO Bonds authorized for transportation totaled $48,750,000.totaled $48,750,000.
– Traditional way transportation capital projects Traditional way transportation capital projects have been funded.have been funded.
Current Funding – New ProjectsCurrent Funding – New Projects
Certificates of ObligationCertificates of Obligation– Similar to GO bonds, but does not require Similar to GO bonds, but does not require
voter authorization.voter authorization.
– $6.94 million issued in 2014 for transportation $6.94 million issued in 2014 for transportation projects.projects.
– Can be issued when new or unanticipated Can be issued when new or unanticipated projects are needed.projects are needed.
Current Funding – New ProjectsCurrent Funding – New Projects
General FundGeneral Fund– Existing resources may be available to pay for Existing resources may be available to pay for
transportation projects.transportation projects.
– In current year approximately $900,000 used In current year approximately $900,000 used for Transportation projects.for Transportation projects.
– Funds may not always be available.Funds may not always be available.
Current Funding – New ProjectsCurrent Funding – New Projects
TxDOTTxDOT– Pays for transportation projects on State Pays for transportation projects on State
roadwaysroadways
– City participates in land acquisitionCity participates in land acquisition
– City may pay for design costs for some projectsCity may pay for design costs for some projectsBarron Road overpassBarron Road overpass
Rock Prairie Road BridgeRock Prairie Road Bridge
Current Funding – New ProjectsCurrent Funding – New Projects
Sale of AssetsSale of Assets– Funds may be utilized from 1 time sale of Funds may be utilized from 1 time sale of
assetsassets
– $1.1 million from sale of First Street property $1.1 million from sale of First Street property used for transportation projectsused for transportation projects
Design of Francis and Graham rehabilitationDesign of Francis and Graham rehabilitation
Additional rehabilitation and repairsAdditional rehabilitation and repairs
Current Funding – New ProjectsCurrent Funding – New Projects
GrantsGrants– CDBG funding has been used for CDBG funding has been used for
transportation projectstransportation projects
Cooner Street rehabilitationCooner Street rehabilitation
Current Funding – New ProjectsCurrent Funding – New Projects
Street Oversized ParticipationStreet Oversized Participation– This funding enables the City to share the This funding enables the City to share the
costs of roadway improvements being costs of roadway improvements being constructed with private development constructed with private development projects.projects.
– City pays for cost of additional capacity to City pays for cost of additional capacity to meet thoroughfare plan requirements.meet thoroughfare plan requirements.
Current Funding – New ProjectsCurrent Funding – New Projects
DevelopmentDevelopment– Developments are required to build and Developments are required to build and
dedicate roads to serve their development dedicate roads to serve their development and to comply with thoroughfare dedications.and to comply with thoroughfare dedications.
Potential Funding SourcesPotential Funding Sources
Transportation User FeeTransportation User Fee– Fee used to pay for transportation Fee used to pay for transportation
improvements.improvements.
– Could be added to monthly utility billCould be added to monthly utility bill
– $2.50 per month generates approximately $2.50 per month generates approximately $1,000,000 per year. $1,000,000 per year.
Potential Funding SourcesPotential Funding Sources
Street AssessmentsStreet Assessments– Levied based on the City being able to Levied based on the City being able to
demonstrate enhanced value to adjoining demonstrate enhanced value to adjoining property.property.
LongmireLongmire
HollemanHolleman
Potential Funding SourcesPotential Funding Sources
Road Impact FeesRoad Impact Fees– City is permitted to levy impact fees to City is permitted to levy impact fees to
partially reimburse the City for construction of partially reimburse the City for construction of roadways identified on the Thoroughfare Plan.roadways identified on the Thoroughfare Plan.
– Only viable for projects where there is Only viable for projects where there is sufficient unplatted land in the impact fee areasufficient unplatted land in the impact fee area
Potential Funding SourcesPotential Funding Sources
Tax Increment FinancingTax Increment Financing– Cost of improvements is repaid by future tax Cost of improvements is repaid by future tax
revenues by each entity that levies taxes revenues by each entity that levies taxes against the property.against the property.
Wolf Pen CreekWolf Pen Creek
Consideration for DartmouthConsideration for Dartmouth
Potential Funding SourcesPotential Funding Sources
Hotel Tax FundsHotel Tax Funds– Can Can onlyonly be used to transport tourists from be used to transport tourists from
hotels in and near the City to certain hotels in and near the City to certain destinations.destinations.
Commercial center of the CityCommercial center of the City
Convention centerConvention center
Other hotelsOther hotels
Tourist attractionsTourist attractions
Council Discussion Council Discussion and Directionand Direction
