Southlake Chief Financial Officer Sharon Jackson told council during the Feb. 6 meeting the plan to seek $17.5 million in bonds to help complete projects in the city's capital improvements program.
She said the city can expect to see more money needed to fund the improvements in upcoming years, jumping as high as $61 million in fiscal year 2027-28.
The details
City Manager Alison Ortowski said this year’s capital improvements program is different than the past because it was moved from the fall to winter.
In past years, the program's projects were approved at the same time as the city prepared and approved its annual budget. Ortowski said this change made sense to help focus on the funding pieces involved in projects after the budget has been approved.
Council will review the program each February, looking at a five-year plan.
In fiscal year 2024-25, the city has targeted $41.6 million in projects, and of that total, $24.1 million will be paid with cash, Jackson said.
Money from the general fund and utility fund will pay a portion, while the city will look to issue $17.5 million in bond money in early or late spring, Jackson said.
"We may need a longer term [bond] because we have a lot of infrastructure needs coming in the near future," Jackson said. "We will have to probably extend that past 10 years."
The fiscal year 2024-25 capital improvements program will fall into seven different categories, according to the presentation at the meeting.
- $13.1 million for facilities, including Municipal Service Center and Public Safety Training Tower, library and multiuse facility, Southlake visitor information center, and emergency operations center relocation
- $9.1 million for water infrastructure, including water line replacement and pump station improvements
- $8.95 million for mobility, including sidewalks, road milling and pavement
- $7.5 million for parks, including Town Hall Park plaza and turf conversion
- $2.35 million for wastewater, including lift stations improvements/replacement
- $178,000 for stormwater, including Morgan Road drainage improvements
- $450,000 for community enhancement, including a public art plan and Americans with Disabilities Act improvements
There are 10 projects from the fiscal year 2023-24 capital improvements program that are still under construction, as of the Feb. 6 meeting.
- Residual Control System for ground storage tank at Pearson Lane
- FM 1709/Byron Nelson Parkway intersection improvements
- FM 1709/Southridge Lakes Parkway intersection improvements
- Union Church water line improvements
- East Dove Road water line improvements
- Shady Oaks Phase 1 water line and sewer line
- Pickleball facility
- Bob Jones Nature Center barn
- Emergency Operation Center renovation/relocation
- Kirkwood Branch bridge replacement
