Commissioners approved a reimbursement resolution at a meeting Jan. 9 that will allow the county to borrow $4.9 million from existing certificates of obligation funds to start some of the bond projects and capital improvement projects approved by voters in Nov. 2017.
“We are directing all of those savings to critical road safety projects that were prioritized by the citizens bond advisory committee,” Aerin-Renee Pfaffenberger, senior planning and budget analyst for the county’s planning and budget office said. “In the future, we will continue to direct our CO [certificates of obligation]savings to these safety projects, that way we can reduce the tax burden on residents.”
Budget Director Travis Gatlin said reducing issuance on the bonds saves about 60 cents per year over 20 years.
According to David Greear, assistant public works director for Travis County’s transportation and natural resources department, the goal is to address the easiest and most needed projects first.
Greear said a majority of the projects will take place in Precinct 4 since due to its high level of need. He said some of this year’s safety projects include Elroy Road widening, Great Divide Drive at Little Barton Creek, Linden Road, and Ross Road North.
After issuing a request for qualifications, Greear said the county will select a contractor for the projects. He said the goal is to get the projects started in the next few months.