Title
Consider and take action on a resolution directing staff to produce a spending plan and budget amendment within 28 days in regard to TIRZ 2 and COVID ARPA remaining funds. (Councilman Hicks and Councilman Cones)
Background:
If approved, this item directs staff to produce a spending plan and budget amendment within 28 days in regards to TIRZ 2 and COVID ARPA remaining funds.
With the closing of TIRZ 2, staff estimates between $7.0 to $9.7 million will be remaining as uncommitted funds.
There will be approximately $6 million in uncommitted COVID ARPA funds remaining at the end of FY2023. At Council’s direction, staff can use current public safety salaries as justification to claim the remaining $6 million in COVID ARPA grant funds. Since the salary expense is currently paid from the general fund, moving the expense to ARPA, would free up an equal amount ($6 million) in general fund dollars. This amount could be transferred to the CIP to cash fund (without time or project type restriction) CIP projects at Council’s direction.
Council directs staff to produce a spending plan and budget amendment within 28 days in regards to TIRZ 2 ($7.0 to $9.7 million) and COVID ARPA ($6 million) uncommitted funds as follows:
a. In FY2024, all remaining ARPA funds (approximately $6 million) shall be claimed using public safety salaries, including bringing forward a separate item to change the COVID ARPA plan to remove the DSWWTP Admin, Lab & Ops building,
b. In FY2024, an equal amount to the remaining ARPA funds (approximately $6 million) shall be transferred from the general fund to a new dedicated fund to plan, design, construct, and equip Fire Station 7, along with an agenda item to add Fire Station 7 to the FY2024 capital budget, and
c. Available uncommitted funds from TIRZ 2 will be allocated to the new dedicated fund for Fire Station 7.
Any remaining funds from TIRZ 2 or COVID ARPA after funding Fire Station 7 expenses, will be spent on the following based on priority as directed by City Council by separate action,
d. Up to $3M of the TIRZ 2 uncommitted balance to be allocated to completing underfunded road projects in the Capital Improvement Plan,
e. Create a grant program of $200K to fund installation of flock license plate reader cameras in neighborhoods as requested by HOA’s,
f. Investigate the feasibility of replacing approximately 200 public safety radios with any remaining TIRZ 2 uncommitted funds,
Staff is directed to research the process to cancel Winfield Road (I45 feeder to Hobbs Rd) from the 2019 GO Bond program and bring forward an item for City Council approval to cancel the project and reallocate the approximate $2.24M programmed for Winfield Road to North Landing Blvd Extension project (also a 2019 GO Bond project).
Attachments:
1. Data Sheet
2. Proposed Resolution
FUNDING
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STRATEGIC PLANNING
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