Title
Consider a resolution approving a Five-Year Funds Allocation Plan for FY 2021-2025 for the Round Rock Transportation and Economic Development Corporation.
Body
A five-year project spending plan will be presented and adopted at least annually to ensure adequate funds are available for transportation, economic development and other allowed uses of Type B funds. This five-year plan will be reviewed by staff at least quarterly and updates will be presented to the Type B board as needed for transportation capital improvements programs (TCIP), economic incentive programs (EIP) and other legally allowable projects approved by the Type B board and by Council. The initial plan was brought before the Type B Board on January 24, 2019 with the most recent update brought before the Board on July 25, 2019.
This agenda item is for the Type B Board to adopt the Five-Year Funds Allocation Plan. The Type B Funds Allocation Plan is attached. The $308.3 million five-year plan allocates $264.1 million to committed and planned Transportation Projects and $44.2 million to Economic Development projects and incentives. This plan includes the costs of projects that will be funded by the Transportation Certificates of Obligation (C.O.), beginning with the first two of the five planned debt issues with $30M in May 2019 and $30M in May 2020.
This plan will be reviewed and updated at least annually as part of the budget process; significant changes in project needs may require more frequent updates.