Cost estimates related to construction of Kyle’s five bond-funded road projects have run over the $35.3 million approved by voters in 2013, but the city is closing the gap in funding.
Goforth Road will be the first road to be improved as a result of the city of Kyle's 2013 bond.[/caption]
Faced with an estimate of $39.01 million, the city has whittled down a $3.71 million overrun to $756,244.
“It was clear we were going to be significantly over budget,” Mayor Todd Webster said. “And we kind of were in emergency mode as a group and as a city and scoped everything down to make sure that we were going to be close. I’m very happy to see that you all were able to close the gap.”
In addition to the $35.89 million total general obligation bonds that have been issued in 2013 and 2015, the city drew $1.08 million from its water and wastewater utility fund, $850,000 from the general fund and transferred $437,500 in a project manager’s bond-funded compensation to the general fund.
"It was clear we were going to be significantly over budget. I’m very happy to see that you all were able to close the gap."
— Kyle Mayor Todd Webster
City Finance Director Perwez Moheet said he does not expect covering the remainder of the funding gap to be a challenge.
“I believe we can do that by this time next year,” Moheet said.
With all landowners having agreed to offers for right-of-way by the city, construction on Goforth Road is expected to begin in January. Design of the road was nearly complete in August, City Engineer Leon Barba said.
Although the council has a standing monthly report on road bond updates, Council Member Daphne Tenorio requested that the council be updated whenever changes occur, especially because that is the most frequently asked question she receives from constituents, she said.
“That’s the No. 1 question I get anytime I go out,” Tenorio said. “And I want to be able to answer with the best knowledge that we have. … I want to be kept abreast.”
Goforth Road will be the first road to be improved as a result of the city of Kyle's 2013 bond.[/caption]
Faced with an estimate of $39.01 million, the city has whittled down a $3.71 million overrun to $756,244.
“It was clear we were going to be significantly over budget,” Mayor Todd Webster said. “And we kind of were in emergency mode as a group and as a city and scoped everything down to make sure that we were going to be close. I’m very happy to see that you all were able to close the gap.”
In addition to the $35.89 million total general obligation bonds that have been issued in 2013 and 2015, the city drew $1.08 million from its water and wastewater utility fund, $850,000 from the general fund and transferred $437,500 in a project manager’s bond-funded compensation to the general fund.
