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Item # V
Notice of Meeting of the
Governing Body of the
City of Georgetown, Texas
AUGUST 9, 2011
The Georgetown City Council will meet on AUGUST 9, 2011 at 6:00 P.M. at the Council Chambers at 101
E. 7th Street
If you need accommodations for a disability, please notify the city in advance.
Regular Session
(This Regular Session may, at any time, be recessed to convene an Executive Session for any purpose
authorized by the Open Meetings Act, Texas Government Code 551.)
A Call to Order
Pledge of Allegiance
Comments from the Mayor
- Welcome and Meeting Procedures
City Council Regional Board Reports
- CAPCOG
- CAMPO
- Lone Star Rail District
- I-35 Corridor Segment 3 Committee
City Manager Comments
- 2011/12 Budget Calendar
- End of Season Pool Schedule
- Water Management Schedule
Action from Executive Session
Public Wishing to Address Council
On a subject that is posted on this agenda: Please fill out a speaker registration form which can be found on
the table at the entrance to the Council Chamber. Clearly print your name and the letter of the item on which
you wish to speak and present it to the City Secretary on the dais, preferably prior to the start of the meeting.
You will be called forward to speak when the Council considers that item.
On a subject not posted on the agenda: Persons may add an item to a future City Council agenda by
contacting the City Secretary no later than noon on the Wednesday prior to the Tuesday meeting, with the
subject matter of the topic they would like to address and their name. The City Secretary can be reached at
512/930-3651.
B - Charles Aguillon regarding support for an Arts Center
C - Tamara Hudgens regarding the proposed Arts Center in Georgetown
D - Amanda Still regarding the downtown parking garage and a community Arts Center
E - Jane Estes regarding the possible use of the current police station as an Arts Center
Statutory Consent Agenda
The Statutory Consent Agenda includes non -controversial and routine items that may be acted upon with one
single vote. An item may be pulled from the Consent Agenda in order that it be discussed and acted upon
individually as part of the Regular Agenda.
F Consideration and possible action to approve the minutes of the Workshop and Regular Council
Meeting held on Tuesday, July 26, 2011 -- Jessica Brettle, City Secretary
G Consideration and possible action to accept the City's Quarterly Financial Report, which includes the
Investment Reports for the City of Georgetown, Georgetown Transportation Enhancement Corporation
(GTEC), and the Georgetown Economic Development Corporation (GEDCO) for the quarter ended
June 30, 2011 -- Lorie Lankford, Controller and Micki Rundell, Chief Financial Officer
H Forward from the General Government and Finance Advisory Subcommittee (GGAF):
Consideration and possible action to approve an engagement letter and professional services
agreement with Clifton Gunderson, LLP, to perform the independent audit of City accounts for
fiscal year ended September 30, 2011— Lorie Lankford, Controller and Micki Rundell, Chief Financial
Officer
I Forward from the General Government and Finance Advisory Subcommittee (GGAF):
Consideration and possible action to approve a Resolution authorizing staff to conduct business with
Comerica Bank, N.A. and to appoint "Representatives of the Depositor" -- Micki Rundell, Chief
Financial Officer and Lorie Lankford, Controller
J Consideration and possible action to approve the declaration of surplus IT equipment for disposal --
Mike Peters, Information Technology Director and Micki Rundell, Chief Financial Officer
K Forwarded from the Downtown Tax Increment Re -Investment Zone (TIRZ) Committee:
Consideration and possible action concerning a Contract for Professional Services with Barnes,
Gromatzky and Kosarek Architects in the amount of $9,950.00 to complete a City of Georgetown
Parking Garage & Site Feasibility Study -- Edward G. Polasek, AICP,Transportation Services
Director and Laurie Brewer, Deputy City Manager
Legislative Regular Agenda
L Consideration and possible action to approve the 2011 Redistricting Plan -- Mayor George Garver
M Forwarded from the General Government Finance Advisory Subcommittee (GGAF):
Consideration and possible action to enter into a three-year Enterprise Agreement (EA) contract
with Microsoft Corporation for various PC and server licenses, including a first year cost of
$105,217.48, through Dell Computer Corporation (DIR, acting as reseller) -- Mike Peters, Information
Technology Director and Micki Rundell, Chief Financial Officer
N Forwarded from the General Government and Finance Advisory Subcommittee (GGAF):
Consideration and possible action to appoint the committee for the selection of an architect for the
design of the San Gabriel River Trail Extension project -- Terry Jones, Support Services
Construction Manager and Micki Rundell, Chief Financial Officer
O Forwarded from the General Government and Finance Advisory Subcommittee (GGAF):
Consideration and possible action to approve Broaddus & Associates as our architect/engineer
representative for the design/build process for Fire Station 2 for a fee not to exceed $98,000.00 --
Terry Jones, Support Services Construction Manager and Micki Rundell, Chief Financial Officer
P Forwarded from the General Government and Finance Advisory Subcommittee (GGAF):
Consideration and possible action to approve the construction delivery methodfor the Public Safety
Operations and Training facility -- Terry Jones, Support Services Construction Manager and Micki
Rundell, Chief Financial Officer
Q Consideration and possible action to award a contract for the Reconstruction of the Southfork Drive
Connection Project to Rogers Construction Company, Ltd., of Georgetown, Texas, in the amount of
$113,599.05, execution of said contract contingent upon concurrence with the Award by the Texas
Transportation Commission at its August 25th meeting -- Edward G. Polasek, AICP, Transportation
Services Director and Bill Dryden, P.E., Transportation Engineer
R First Reading of an Ordinance amending Chapter 13.12 of the City Code of Ordinances relating to
Garbage Collection And Disposal; repealing conflicting provisions; and declaring an effective date --
Rachel Osgood, Environmental Services Coordinator and Kathy Ragsdale, Environmental and
Conservation Services Director
S Second Reading of an Ordinance of the City Council of the City of Georgetown, Texas ("City")
amending the Project Plan and Reinvestment Zone Financing Plan for Downtown Georgetown
Tax Increment Reinvestment Zone, containing findings and provisions related to the foregoing
subject; and providing a severability clause -- Bridget Chapman, Acting City Attorney and Micki
Rundell, Chief Financial Officer
Executive Session
In compliance with the Open Meetings Act, Chapter 551, Government Code, Vernon's Texas Codes,
Annotated, the items listed below will be discussed in closed session and are subject to action in the regular
session.
T Sec. 551.071: Consultation with Attorney
- Advice from attorney about pending litigation that has been filed against the City or contemplated
litigation and other matters on which the attorney has a duty to advise the City Council, including but
not limited to this week's agenda item
U Sec. 551.072: Deliberation about Real Property
- Discussion and deliberations concerning a proposed Real Estate Purchase Contract for the purchase of
real property from the Charles N. Avery, III, John S. Avery, A. Nelson Avery and Lucille Christina
Avery Fell, Co -trustees of the John S. Avery Exempt Trust, the Charles N. Avery, III Exempt Trust, the
A. Nelson Avery Exempt Trust and the Lucille Christina Avery Fell Exempt Trust, each pursuant to a
Trust Instrument dated December 24, 1992, for street right-of-way in connection with the Southeast
Arterial One Road Project -- Edward Polasek, AICP, Transportation Services Director and Terri
Calhoun, Real Estate Services Coordinator
- GUS Satellite Service Center Property Update
- Rivery Update
- Cimarron Hills Update
V Sec. 551.087: Deliberation Regarding Economic Development Negotiations
- Discussions or deliberations regarding commercial or financial information that the governmental
body has received from a business prospect that the City Council seeks to have locate, stay or expand in
or near the territory of the City and with which the City Council is conducting economic development
negotiations; or to deliberate the offer of a financial or other incentive to a business prospect that the
City Council seeks to have locate, stay or expand in or near the territory of the City and with which the
City Council is conducting economic development negotiations.
- Project Grape
Adjournment
Certificate of Posting
I, Jessica Brettle, City Secretary for the City of Georgetown, Texas, do hereby certify that this Notice of
Meeting was posted at City HAdR�.�
113 E. 8th Street, a place readily accessible to the general public at all
times, on the 2 day of , 2011, at - , and remained so posted for at least
72 continuous hours preceding the heduled time of said meeting.
Je ca Brettle, City ecretary
48
)WN
Citizen Comment Form
For Posted Agenda Items
To address the City Council on a posted agenda item, complete this form and
submit it to the City Secretary, on the dais, prior to the discussion of the item at
the meeting.
Meeting Date:
Agenda Item (A, B, C, etc...): P�--
Name: i' ��� /� l =
Residence Address:,/0 �/�1�—�— ��� �-�✓
If speaking for an organization,
Name of Organization:
Speaker's Official Capacity:
Disclaimer:
By submitting this request to address City Council, I agree that I will keep my comments to the subject
listed. I will refrain from the use of any obscene, vulgar, or profane language. I understand that if I do not
follow this procedure, my speaking time may be terminated and I may be requested to sit down or be
removed from the building. I understand that the City Council meeting is broadcast live and my comments
will become part of the official record.
City Council Procedure for Citizen Comment on an Agenda Item:
1. Fill out form completely and turn in to the City Secretary prior to discussion of the item
2. Wait for the Mayor to call your name to approach the podium
3. State your name and address clearly into the podium microphone
4. You will have three minutes to address Council; six minutes if another citizen has signed over their time
48
)WN
1 L L %L 1.0
Citizen Comment Form
For Posted Agenda Items
To address the City Council on a posted agenda item, complete this form and
submit it to the City Secretary, on the dais, prior to the discussion of the item at
the meeting.
Meeting Date: c°Wry 0
Agenda Item (A, B, C, etc...x
Name: ,�
Residence Address: )694,J,
If speaking for an organization,
Name of Organization:
Speaker's Official Capacity:
Disclaimer:
By submitting this request to address City Council, I agree that 1 will keep my comments to the subject
listed. I will refrain from the use of any obscene, vulgar, or profane language. I understand that if I do not
follow this procedure, my speaking time may be terminated and I may be requested to sit down or be
removed from the building. I understand that the City Council meeting is broadcast live and my comments
will become part of the official record.
City Council Procedure for Citizen Comment on an Agenda Item:
1. Fill out form completely and turn in to the City Secretary prior to discussion of the item
2. Wait for the Mayor to call your name to approach the podium
3. State your name and address clearly into the podium microphone
4. You will have three minutes to address Council; six minutes if another citizen has signed over their time
0
RIVERY SUMMIT
Executive Summary — August 9, 2011
Project Background:
Rivery Summit was approved by the City Council in November 2007. The original project was to include a mixed use
retail, office, restaurants, hotels, including a conference center. Funding was through a Tax Increment Reinvestment
Zone (TIRZ) which
• Collect 100% of the incremental tax value from the City
• Williamson County committed 80% of its property taxes related to the incremental value
o In exchange for Y of 1% of the sales tax generated at the site.
The original intention was for the TIRZ to reimburse the developer or hotelier for the costs of the Conference Center. In
exchange the City and the County would have the conference center as a community amenity, along with various
improvements to Rivery Park. There where timing benchmarks for construction of the Conference Center (to begin July
2008) and an ending date of the TIRZ of 12-31-2031, which was the estimated repayment date of the bonds to be issued.
Current Conditions:
The economic recession of 2008 eliminated funding opportunities for the project. In 2010, 11 of the 32 acres originally
in the TIRZ was removed and became the "Brownstone" development. The value for this development is NOT part of
the TIRZ.
• Potential bonding capacity for the project has been decreased due to Brownstown development
• Time delay on building project has limited viability of the TIRZ
o TIRZ ends December 2031
o TIRZ bonds would require 2 years of collections prior to issuance thus repayment to the developer
would lag substantially
o Revenue generated wouldn't support bonds issued at 7% or higher with 1.5 times coverage ratios
Rivery Park improvements may not have a viable funding source
The developer has secured a hotelier (Hines) to build a hotel/conference center at the project if the financial conditions
can be negotiated, and has requested the City to develop a funding plan to facilitate the original goal which was to have
a high -end, full service hotel at Rivery Summit with a Conference Center.
City Position/Recommended Changes:
• Hotelier (Hines) builds hotel / conference center
• City "buys" Conference Center from Hines under new Public/Private/Partnership laws recently approved by the
legislature.
o City also "buys" parking garage
■ Cost differential between parking garage and surface parking
o Condo agreement on selling conference center to City
o City determines size/type venue
• City issues Certificates of Obligation (CO) Bonds to repay the developer (self-supporting CO)
o Would be issued upon completion of the Conference Center (no lag)
o Repays debt from TIRZ revenue and HOT revenue
o Structures debt to match revenue projections
o Wouldn't require coverage for debt service
o Lower rates/better leverage
• Any excess TIRZ funds would fund Park Improvements
o Could structure City repayment to ensure a % of TIRZ funds go to the park annually
• Developer would not receive any funding from the TIRZ
o All funds go into repaying conference center CO bonds and park improvements
• Conference Center Operations
o City will lease operations to the hotel operation
■ Ensure lease funds any tax obligation and M&O expense of the facility
o All revenues generated at the Conference Center would be retained by the hotel operator
■ Conference fees and earnings
■ Parking fees
Additional incentives include:
o % of 1% of the sales tax generated in the TIRZ would be rebate to the hotel operator for years.
o City would supply furnishing for the Conference Center from HOT
o City would supply funding for marketing of the Conference Center from HOT
o City would fund $ for annual conference operations from HOT
City staff has modeled the revenue/debt for this project using VERY conservative projections, and the project has an 85%
chance of meeting revenue targets even under these very conservative estimates for room and occupancy rates. In this
scenario, the City could issue up to $10 million in bonds to be repaid with TIRZ tax and HOT generated at the site.
Depending on market conditions and length of bond issue, coverage ratios are 1.25 to 1.40. Any excess can then be
used to fund improvements at Rivery Park if necessary.
The City will need to determine the size of the Conference Center. Currently, projected sizes are approximately 25,000
square ft, with a 10,000 sq ft Grand Ballroom and a 5,000 sq ft Junior Ballroom, as well as, multiple breakout rooms.
Under the TIRZ agreement with Williamson County, the Conference Center should hold 1,500. The final size may be
determined by the funding capacity of the project, and the cost per sq ft.
Issues regarding the existing Rivery Park will require further negotiation and development. Items include the relocation
of the access road to the park, enlargement of the detention pond, and modifications to some of the park elements, all
of which will be presented to the Parks Board prior to consideration by City Council.
Development issues including impervious cover and any changes to the PUD will also be addressed in the coming
months. In addition, the Developer (Ledgestone) will be requesting funding from GTEC for road improvements within
the project. That process is expected to begin in November.
Next Steps:
1. Finalize funding package
a. Determine size of Conference Center and configuration within project
2. Determine legal documents for project and assign outside legal firm. Legal fees should be reimbursed by
Developer as stated in UDC
a. Amend TIRZ Ordinance
b. Development agreement
c. Public/Private/ Partnership agreement on facility
d. Operational lease
e. Park related documents
3. Develop time line for all elements of project
4. Provide assurances to Developer and Hotelier (Hines) of City's intent
Action from Executive Session: — f 6+,0 A A—o
1. Authorize the Mayor to sign a letter of intention to the Developer stating the City's intention to issue
bonds for a Conference Center. OR Gc.S a1 0Z- ,
2. Authorize the City Manager to release an Executive Summary of the deal points as discussed in Executive Session
to w4ww,. 4A.4, \Acre-t C� iut_t o e-tA
RIVERY PARK HOTEL & CONVENTION CENTER
Estimated Timeline 08-09-11
Duration (days)
Date
Milestone Event
Early
Late
Early
Late
Complete Purchase Sale Agreement
with Hines
30
60
09/30/11
10/31/11
Complete negotiations and
modifications to the TIFF/TIRZ
30
60
10/15/11
11/14/11
Agreement
End Due Diligence Period with Hines
90
90
12/31 /11
01 /31 /12
Design and permitting
90
120
03/31/12
05/31/12
Start Construction
-
-
04/15/12
06/15/12
Complete Construction - Hotel &
Conference Center
670
730
02/28/14
06/15/14
l
e RIVERY SUMMIT
Executive Summary — August 9, 2011
Proiect Background:
Rivery Summit was approved by the City Council in November 2007. The original project was to include a mixed use
retail, office, restaurants, hotels, including a conference center. Funding was through a Tax Increment Reinvestment
Zone (TIRZ) which
• Collect 100% of the incremental tax value from the City
• Williamson County committed 80% of its property taxes related to the incremental value
o In exchange for % of 1% of the sales tax generated at the site.
The original intention was for the TIRZ to reimburse the developer or hotelier for the costs of the Conference Center. In
exchange the City and the County would have the conference center as a community amenity, along with various
improvements to Rivery Park. There where timing benchmarks for construction of the Conference Center (to begin July
2008) and an ending date of the TIRZ of 12-31-2031, which was the estimated repayment date of the bonds to be issued.
Current Conditions:
The economic recession of 2008 eliminated funding opportunities for the project. In 2010, 11 of the 32 acres originally
in the TIRZ was removed and became the "Brownstone" development. The value for this development is NOT part of
the TIRZ.
• Potential bonding capacity for the project has been decreased due to Brownstown development
• Time delay on building project has limited viability of the TIRZ
o TIRZ ends December 2031
o TIRZ bonds would require 2 years of collections prior to issuance thus repayment to the developer
would lag substantially
o Revenue generated wouldn't support bonds issued at 7% or higher with 1.5 times coverage ratios
Rivery Park improvements may not have a viable funding source
The developer has secured a hotelier (Hines) to build a hotel/conference center at the project if the financial conditions
can be negotiated, and has requested the City to develop a funding plan to facilitate the original goal which was to have
a high -end, full service hotel at Rivery Summit with a Conference Center.
City Position/Recommended Changes:
• Hotelier (Hines) builds hotel / conference center
• City "buys" Conference Center from Hines under new Public/Private/Partnership laws recently approved by the
legislature.
o City also "buys" parking garage
■ Cost differential between parking garage and surface parking
o Condo agreement on selling conference center to City
o City determines size/type venue
• City issues Certificates of Obligation (CO) Bonds to repay the developer (self-supporting CO)
o Would be issued upon completion of the Conference Center (no lag)
o Repays debt from TIRZ revenue and HOT revenue
o Structures debt to match revenue projections
o Wouldn't require coverage for debt service
o Lower rates/better leverage
0 Any excess TIRZ funds would fund Park Improvements
o Could structure City repayment to ensure a % of TIRZ funds go to the park annually
Developer would not receive any funding from the TIRZ
o All funds go into repaying conference center CO bonds and park improvements
l • Conference Center Operations
o City will lease operations to the hotel operation
■ Ensure lease funds any tax obligation and M&O expense of the facility
o All revenues generated at the Conference Center would be retained by the hotel operator
■ Conference fees and earnings
■ Parking fees
• Additional incentives include:
o %2 of 1% of the sales tax generated in the TIRZ would be rebate to the hotel operator for years.
o City would supply furnishing for the Conference Center from HOT
o City would supply funding for marketing of the Conference Center from HOT
o City would fund $ for annual conference operations from HOT
City staff has modeled the revenue/debt for this project using VERY conservative projections, and the project has an 85%
chance of meeting revenue targets even under these very conservative estimates for room and occupancy rates. In this
scenario, the City could issue up to $10 million in bonds to be repaid with TIRZ tax and HOT generated at the site.
Depending on market conditions and length of bond issue, coverage ratios are 1.25 to 1.40. Any excess can then be
used to fund improvements at Rivery Park if necessary.
The City will need to determine the size of the Conference Center. Currently, projected sizes are approximately 25,000
square ft, with a 10,000 sq ft Grand Ballroom and a 5,000 sq ft Junior Ballroom, as well as, multiple breakout rooms.
Under the TIRZ agreement with Williamson County, the Conference Center should hold 1,500. The final size may be
determined by the funding capacity of the project, and the cost per sq ft.
Issues regarding the existing Rivery Park will require further negotiation and development. Items include the relocation
of the access road to the park, enlargement of the detention pond, and modifications to some of the park elements, all
of which will be presented to the Parks Board prior to consideration by City Council.
Development issues including impervious cover and any changes to the PUD will also be addressed in the coming
months. In addition, the Developer (Ledgestone) will be requesting funding from GTEC for road improvements within
the project. That process is expected to begin in November.
Next Steps:
1. Finalize funding package
a. Determine size of Conference Center and configuration within project
Determine legal documents for project and assign outside legal firm. Legal fees should be reimbursed by
Developer as stated in UDC
a. Amend TIRZ Ordinance
b. Development agreement
c. Public/Private/ Partnership agreement on facility
d. Operational lease
e. Park related documents
3. Develop time line for all elements of project
4. Provide assurances to Developer and Hotelier (Hines) of City's intent
Action from Executive Session:
1. Authorize the Mayor to sign a letter of intention to the Developer (Dan Clark) stating the City's intention to issue
bonds for a Conference Center.
2. Authorize the City Manager to release an Executive Summary of the deal points as discussed in Executive Session
to Hines.
RIVERY PARK HOTEL & CONVENTION CENTER
Estimated Timeline 08-09-11
Duration (days)
Date
Milestone Event
Early
Late
Early
Late
Complete Purchase Sale Agreement
with Hines
30
60
09/30/11
10/31 /11
Complete negotiations and
modifications to the TIFF/TIRZ
Agreement
30
60
10/15/11
11/14/11
End Due Diligence Period with Hines
90
90
12/31 /11
01 /31 /12
Design and permitting
90
120
03/31/12
05/31/12
Start Construction
-
-
04/15/12
06/15/12
Complete Construction - Hotel &
Conference Center
670
730
02/28/14
06/15/14
2011 PROPOSED
PROPERTY TAX RATE
Funding the 2011112 General Fund Budget
Public Hearing — August 9, 2011
Ok
ro p cy @4 X 0
City does not determine value ®f property
WCAD does not set the tax rate
Property -Tax Overview
Property Tax Exemptions
Lower the taxable value of your property
Do not affect market value
City may grant to groups of property owners
Property Ta---�x Overview
Exemptions the City currently offers.
General Homestead ® $57000
Over 65 Homestead - $12=0
Disabled ® $407000
Disabled veterans (mandatory) — variable
Revenue frozen for Over 65 & Disabled
"Freezes" revenue - 1st year of exemption
Adopted in 2004 for 2005 Tax Year
3
It
,��k '' /1" 'eneral Fund Bk.�,idget ez J I J I "Zi
Total General Fund budget =$40M
2.8% increase from 2010/11 projected
Includes $985K 1 -time projects
Includes increased Contingency Reserve Funds to
$7.1 million
Requires 90 days operating expenses
$6.847 million in 2010/11
et
8" U(3� u d I
t RUS
g
Service levels remain stable
No employee COLA or merit bonus
Will review again at Mid -year
Revenues greater than anticipated
0
ases
2 G i n cr e
Opening Fire Station 5
12 Firefighters
Add 3 new and fund previously 9 granted funded positions
June 2012
0 VI 2 G e ri e ra il t----u nI Ic", r s e s
a2 11 �ea
Offset by decrease in retirement contribution
1
ReaHocate resources
2 building inspectors temporarily transferred to GUS
for ClP inspections
Reduce Associate Judge costs in Court
"Freeze" ad6tiona� positions
Warrant officer assigned to Municipal Court
Director of Community Services
17 tota9 positions "frozen" alb year
4 additional positions for 6 months
Municipal Court Clerk
Heavy Equipment Operator in Streets
und' ii i ime jr. mir
9
Fe, in ke- - a I
% j
G'ojeneral Fund Nevenue Com^,arison
Transferin
Return on Investment
Franchise Fees from Utilities
All Other Revenue
Environmental Services
Administrative Charges
Sales Tax
Property Taxes
7
1*
2 y" d" --�' r�'rop-:,osed
ul, 1 '1 r
m
A S S e S Sp
d,
Certified valuation ® $4.318 Biflion
Net of $35.1 M in TIF districts
Includes $92.5M new/annex property
Includes $1.256B frozen property
Equals 29% of total valuation
8.5% increase in 2011
2010 final taxable value ® $4.229 Billion
2010 frozen value ® $1.157 Billion
Equals 27% of total valuation
$4,500,000,000
$4,000,000,000
$3,500,000,000
$3,000,000,000
$2,500,000,000
$2,000,000,000
$1,500,000,000
$1,000,000,000
$500,000,000
$0
96 '97 '98 '99 '00 '01 '02 '03 '04 '05 '06 '07 '08 '09 '10 '11
M
Ass-,-,essed Vahuation per t-,apita
$100,000
$89273 $87201 $86,450
$80,956
$80,000
$69,363
$63,850
$60,0.00
$40,000
$20,000�
$0_..
2006 2007 2008 2009 2010 2011
-1, a
Faxable ValVallue by Property Class
I
I
3
Residential
Single Family
2,857,351,025
68.09%
Multi Family
119,056,293
2.84%
I otal Residential
2,976,407,318
Commercial
908,743,400
21.66%
Personal Property, Other
311,033,417
7.41%
2011 Certified) Assessed) Valuation
4,196,184,135
100%
60% of uncertified under protest value
121,964,074
2011 Total Assessed Valuation
4,318,148,209
z0I I TcaxaNe "'Veflue by "roperty C�ass
rAWF,orro ly
2-84% Stm .Ie rrily
C -r-i o n e n - f- the Tax Rate
Operations and Maintenance (O&M)
GENERAL FUND
Fire, Police, Parks, Library, Streets
Interest and Sinking (IS)
TAX SUPPORTED DEBT PAYMENTS
Bonds issued for capital improvements
Does not include self funded utility and GTEC debt
11
P II q al e C: ffE)G(I
The rate necessary to derive the same amount of
revenue as previous year based upon the current
year assessed valuations
Mil,
Adopted 2010 tax rate ® $0.35622
Pro sed 2011 tax rat .38750
includes $0.032 sales tax for property tax relief
Rollback Rate
The rollback rate is a calculated maximum rate
allowed by law without voter approval.
Calculated-
8% increase in O&M effective rate
+Current year W rate
2011 Rollback Rate = $0.41232
12
2011 Proposed Tax Rate: $0.38751
5% increase over effective rate
1.4% increase in O&M rate
Equals $70K in new General Fund Revenues
20.7% increase in u & S (debt service)
$0.026 due to Nov 2011 bonds (2003 authorization)
$0.005 due to increase in 2011 CO for fire facilities
$94M increase in 66Frozen" property ® ($100.5K)
revenue Ioss
Increase in abated property
Citicorp abated 100%
Cornpan'son af Rate Components
Operations & Maintenance (General Fund)
2010 0 $0.21937
2011 ® $0.22290
Interest & Sinking (Debt Service)
2010 ® $0.13635
2011 e $0.16460
Total Proposed Tax Rate
2010 ® $0.35622
2011 ® $.033750
8.7% Actuall Tax Rate Increase
Primarily related to debt service
13
% ms
*11/12
0.2228
0.1647
10/11
0.21987
0.13635
09/110
01114
0.14482
08/09
&20053
0.15569
07/08
0.20322
0.15337
06/07
4L 1979
-2
0.14749
$0.00
$0.10 $0.20
$0.30 $0.40 $0.50
"Proposed
Operations & Maintenance Debt Service
Proposed Property
Tax Rate Comp aHson
(Cities within the
Central Texas Area)
$0.80
'Taylor (.815340)
Killeen (.7428)-
0
Leander (.67042)
.60
Pflugerville (.5990)
Temple (.5679)
San Marcos (.5302)
Hutto (.50758)
.50
Cedar Park (.49350)
Austin (.46130)
Round Rock (.42321)
.40
Georgetown (.3875)
$0.30
30
14
ra! I, Ave�EF
-,,W."�
Fyn
..airw V,
2011 TAXABLE average value =$184,959
Taxable value before exemptions
1. 18% increase over prior year taxable average of
$1821799
2011 MARKET average value= $197,260
Compared to 2010 average market of $194,857
Average
HomeValue
(Tn',xable Value)
$200,000
$193,263
$188,613
$183,970
$182,799 $184,949
$175,000
$150,000
$125,000
$100,000
07/08 08/09
09/10 11/12
15
I
�mpacts on Average Homeowner -
Propertv Tax Increase
1:1
-Fax Rate Adoption
August 23 - First Reading
September 13 - Second Reading
October I - begonnong of new fiscal year