The city aims to invest at least $240 million over five years to improve capacity and connectivity on high-impact roadways, Round Rock Transportation Director Gary Hudder said..
Four projects are expected to break ground in 2020, including improvements to University Boulevard, Logan Street and Kenney Fort Boulevard.
In April 2019, city council approved the first $30 million installment of funding. Issuing the certificates of obligation for the initial round of funding was expected to increase the city’s portion of the property tax rate by $0.015 in 2020.
The second round of certificates of obligation is expected to increase the city property tax rate by $0.010 in 2021.
Additional funding sources
Money from certificates of obligation is one of several approaches the city is using to fund road improvements. Other funding sources include a portion of the city’s sales tax, state and federal grants, and money from private developers.
The city currently levies a half-cent, Type B sales tax where one-half cent of city sales tax funds roads and economic development projects in Round Rock.
Round Rock is also leveraging state and federal funds for the transportation projects. In April 2018, Capital Area Metropolitan Planning Organization awarded the city a $29 million grant for work on Kenney Fort Boulevard, Gattis School Road and University Boulevard.
A fourth element available to offset the cost of road projects is roadway impact fees. Round Rock City Council passed an ordinance in March 2019 that requires developers to pay a one-time cost to fund transportation infrastructure. The city in turn, will use the revenue to cover costs of transportation infrastructure.
Other roadway improvements targeted in the five-year funding effort include work on Old Settlers Boulevard, Red Bud Lane, Wyoming Springs and additional portions of Kenney Fort Boulevard and Gattis School Road.
All projects under consideration are part of Round Rock’s Transportation Master Plan. The $1.2 billion plan, adopted in October 2017, outlines improvements for Round Rock’s future population of 250,000.