City may issue $54.4 million in bonds for FY 2019 at regular meeting

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At its regular meeting Sept. 10, the Lewisville City Council may authorize the city to issue a combined $54.4 million in 2018 bonds to pay for the year’s upcoming projects, alongside the potential approval of several economic agreements and public hearings.

The potential issuances of bonds are divided into two packages — $46.5 million for the general obligation refunding and improvement and $7.9 million for waterworks and sewer system revenue. The general obligation bonds will be used to fund the city’s long-term capital projects, with the largest portion going to the Thrive multi-generational center. The water and sewer funds will be used for water and sewer infrastructure improvements throughout the city.

Council will also hold its second public hearing on the FY 2019 budget at the meeting. The first meeting was 7:30 a.m. Sept. 4.

On the consent agenda, council will consider several economic development agreements, including a development incentive for a new $22 million business park planned for the northeast corner of Spinks Road and Valley Parkway. This would be the seventh of 10 planned business parks for DFW Lewisville Partners, more commonly known as Majestic Realty. The 3.2 million square foot park is scheduled to open Dec. 30, 2019.

According to agenda background material, speculative developments may be considered for up to 75 percent of their property taxes over the first five years in incentives. With this agenda item, Lewisville is only offering 50 percent.

Council will vote on a $674,868 agreement with Huitt-Zollars to design rebuilds for six residential streets in Northwest Old Town — Hatcher Avenue, Herod Street, Lynn Avenue, Richland Street, Temple Drive and Walters Street. The total cost for the project is a little more than $7 million. Huitt-Zollars was previously hired as part of a contract for an earlier version of the same project in 2015, but the project was abandoned by the city due to a lack of funding. Now, the city is returning to the project, and may vote to hire Huitt-Zollars to finish the job. If this item is approved, it will only cost $581,154 today –$674,868 is the total cost, but that includes previous payments.

The city may also approve a $256,000 professional service agreement with Ramel Company LLC to oversee construction on the Thrive multigenerational center currently underway at Memorial Park. In a separate item, Council may also approve a $238,185 agreement with Peak Program Value LLC to provide project control for the construction. Ramel’s job will be to regularly review construction to make sure it remains in line with the city’s vision, and Peak Program Value will be making sure everything stays on budget.

Ground broke on the center in July. You can watch a live stream of the construction here.

Also on the consent agenda, Council may approve an amendment to an economic agreement it approved in May this year to bring the headquarters of Innovative IDM from Carrollton to the corner of Highpoint Oaks and Vista Ridge Mall Drive. The project required the removal of a large number of protected trees. Lewisville city code requires all tree mitigation fees, an estimated $240,000 in this case, to be paid in advance of a development project.

According to background material, IDM redesigned their project to reduce its impact to local trees, but would still need to pay $172,000, a price point that put the whole project in jeopardy. The company has proposed an amendment to the original development agreement passed in May, under which the city will reimburse them for the tree mitigation fees, and in return, IDM will build a five-foot wide publicly accessible granite path around its new facility. Council will vote on this amendment tonight.

In addition to its hearing on the FY 2019 budget, Council will hold five more public hearings during the meeting. Three of them will be on zoning changes that will allow for the first steps toward townhomes on the corner of Cowan and Hickory and the corner of E. Walters and Harris, as well as single-family residences along McCart Street.

Council will also have hearings on changes to some of its ordinances. Mixed-use zoning districts could see changes to setbacks, and the city’s ordinances surrounding certificates of occupancy could be changed to add more clarity.

And, in regular hearings, Council will consider renting out Lone Star Toyota of Lewisville Railroad Park for the annual Battle of the Badge Softball Tournament between DFW area police and fire departments, scheduled for Oct. 20. Renting out the fields for the tournament, as well as practices for Lewisville’s teams, will cost the city an estimated $540.

During the 6:30 p.m. workshop session, Council will hear a presentation on the maintenance of city-owned screening walls, as requested by councilmember Neil Ferguson. The city is currently responsible for 58 screening walls.

City Council meetings are held 7 p.m. on the first and third Monday of each month, except on holidays, such as Labor Day this month. Meetings are held in City Hall, 151 W. Church St. in Lewisville, usually with a workshop session around 6:30 p.m. at which the majority of discussion takes place. These meetings are open to the public.

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