Ahead of the 2023 bond election, New Braunfels City Council voted to solicit a consultant to help update its capital improvement plan. (Ian Pribanic / Community Impact newspaper)
In a May 10 meeting, New Braunfels City Council asked city staff to continue hiring a consultant to help improve their 2012 capital improvement plan, one of the resources used to guide the creation of bond elections.
The updated plan would be used for a bond election proposal in May 2023 and would provide a rationale, timeline, high-level cost estimates and ranking of proposed projects, according to city documents.
Director of Capital Programs Jennifer Kane said the city has an expected bond financing capacity of $ 100 million to $ 120 million.
“We used conservative projections of property values to be able to come up with this $ 100 capacity. [million]-120 million, “said city manager Robert Camareno.” This is without an increase in the tax rate. “
Kane also said that $ 43 million of a 2019 $ 117 million bond has yet to be issued, but is expected to be used in 2021 and 2022. Documents from the city indicate that part of the bonds could also be issued in 2023. Another bond, valued at $ 86 million, was adopted by voters in 2013.
“2013 and 2019 [bonds] both had a lot of projects that were recommended and a lot that weren’t chosen, but they were very needed across the community, “said Mayor Rusty Brockman.” It gives us the opportunity to try to get them. evaluate and use community contributions. over the next two years. “
A bond advisory committee is expected to be appointed between October and December, and it would start meeting next January. The update to the plan is expected to be completed by the committee in April 2022.
From April 2022 to June 2022, the city will solicit bids on projects and a design team will be selected.
The committee’s recommendations regarding the projects to be included in the 2023 obligation should be finalized in the fall of 2022.
The bond proposal will then go to city council in early 2023, and a bond election will be triggered if council members approve the bond package. The bond election could also be scheduled for November 2023 instead of May 2023, city staff said.