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City of Shenandoah News

Posted on: July 26, 2023

Municipal Development District (MDD) July 26, 2023 Update

Supporting documents


Attendance:  

Present:  Vice President Ron Raymaker,  (Place 1),   Dr. Jim Wallace (Place 2), Ted Fletcher (Place 5) and Secretary Joanna Gonzalez (Place 3)  Absent:  President Byron Bevers (Place 4)  

 Note: Vice President Raymaker presided. Director Gonzalez arrived at 6:04 p.m.


ITEM 4: Monthly Cash Flow Report - As requested by MDD, staff has created a visual for a 5-year cash flow projection for the MDD as well as a monthly cash flow report for future agendas.  Discussion only. 

 ITEM 5: Monthly MDD Capital Projects Report- No action required; report only.   


ITEM 6:  David Memorial Extension Funding - The city received seven bids for the David Memorial extension. The lowest bid from Brice Civil Constructors was $7,048,855.98. This bid was greater than the estimated construction cost and proposed funding. An additional $950,000 will be needed to fully fund the project. Staff met with Montgomery County Precinct 4 and they are favorable to funding half of the additional amount needed. They indicated that they would sign this interlocal amendment after the city of Conroe executes the original interlocal agreement. The bid bonds for Brice Civil Constructors expire Sept 6, 2023.  MDD voted 4-0 to fund Shenandoah's portion ($4750,000) of the additional funding.

ITEM 7: Discussion of 2023 – 2024 Proposed MDD Budget - Staff has not made changes to the 2023-2024 Proposed Budget from its original review other than adding in the capital projects decided on during the June 28 joint meeting with City Council and increasing the budget for the David Memorial Drive Extension project for the difference in the original budgeted amount and actual received bid amounts. Staff also took notes from the joint workshop to generate a project funding plan for the 2023-2024 budget year.   Also added was the Cedarwood drainage project that was approved but left off the budget at a  projected cost of $50,000.  No action needed; discussion only.

ITEM 8: 2023-24 Operating Budget Approval-  Staff has not made any changes to the 2023-2024 Proposed Budget other than adding the requested projects from the June 28 joint meeting with City Council, increasing the budget for the David Memorial Drive Extension project for the difference in the original budgeted amount and actual received bid amount, and adding $50,000 for the Cedarwood drainage project. MDD voted 4-0 to approve the budget with an additional $50,000 for the Cedarwood drainage project. 

ITEM 9: 10-year Capital Improvement  Plan (CIP)- Staff used information from the June 28 joint meeting and construction timelines to update the projects for the next 10 years. This plan may change depending on different factors as the year progresses and may be amended.  Staff was directed to add the Cedarwood drainage project. MDD voted 4-0 to approve the 10-year CIP.

ITEM  10: Adoptio of April 26, 2023 Minutes- MDD voted 4-0 to approve the minutes as presented.

ITEM  9: Ratification of the May and June Accounts Payable- MDD voted 4-0 to approve the accounts payable. 

Executive Session: none scheduled

MDD adjourned at 6:17 p.m.

 

Upcoming Events/Meetings


August 5: Back to School Pool Party, 11 a.m. - 1 p.m.

August 8: Civic Club, 6 p.m.

August 23: Municipal Development District (MDD), 6 p.m. 

August 23: City Council, Possible Adoption/Possible Tax Rate Hearing, 7 p.m.



 







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