Government
BY CONNOR PITTMAN & CODY THORN
Coppell to issue $53.5M in bonds for city projects City o cials briefed Coppell City Council about a bond issuance to pay for upcoming city projects. Bond breakdown
Council OKs $1.2M ARPA allocation
Lewisville approves plans for townhomes Lewisville City Council approved an economic development agreement with TSMJV LLC in the May 6 meeting. The company is planning to build 55 for-sale townhomes in the Old Town area. The details The townhomes will be 2,000 square feet and Council members approved an intent to issue $53.5 million in certi cates of obligation May 14. What you need to know The intent to issue allows public notices to be published about the bond o ering, with a sale to take place later this year. Director of Strategic Financial Engagement Kim Tiehen said the bond funds will be used to pay for water and sewer projects, the service center upgrade, and the Fire Station No. 5 project. During the meeting, Tiehen also informed council members how the bond funds would be broken down by project, $48 million of which will be serviced using property taxes. What’s next? Tiehen said an ordinance to authorize the issu- ance of the certi cates of obligation would likely
Royal Lane: $24M Coppell Service Center: $12.5M Fire Station No. 5: $11.5M Water and sewer system improvements: $4M Water system redundancy: $1M Bond issuance costs: $500K
Coppell City Council provided direction to proceed with the obligation of the nearly $1.28 million in remaining American Rescue Plan Act funds May 28. The city received $10.2 million in ARPA funds. The overview The new projects are one-time expendi- tures, will address community and council concerns, and were planned for the scal year 2024-25 budget, Deputy City Manager Traci Leach said. According to the sta presentation, the funding is set to be allocated in ve key areas: consultant expenses for public engagement and pickleball feasibility studies; public safety projects; city facility projects; city equipment purchases; and partial funding for the veterans memorial construction.
Total $53.5M
SOURCE: CITY OF COPPELL COMMUNITY IMPACT
go before council during its July 9 meeting. Quote of note “Issuing bonds allows the cost of these projects to be spread out over time, allowing the city to maintain its infrastructure while also easing the nancial impact on taxpayers,” Tiehen said.
have a minimum investment of $27 million, which would trigger incentives that TSMJV would receive, according to city documents. The incentives feature: • A grant in an amount equal to 100% of the water and sanitary sewer impact fees • A grant in an amount equal to all fees paid to the city at the time of building permit • A waiver of all park fees associated with the construction of the townhome units • A grant covering the ad valorem property taxes owed and paid to the city
55 new townhomes
LAKE HAVEN DR.
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TSMJV plans to start construction in December and complete the project in three years or less, according to documents.
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