HomeMy WebLinkAbout2026-055 Bond Oversight Committee Bond Program FeedbackSeptember 11, 2026 Report No. 2026-055
INFORMAL STAFF REPORT
TO MAYOR AND CITY COUNCIL
SUBJECT:
Bond Oversight Committee feedback regarding extending the 2023 Bond Program and co-locating
the Active Adult Center and South Branch Library.
SUMMARY:
This report is intended to provide feedback from the Bond Oversight Committee pertaining to
proposed changes to the 2023 bond program presented to City Council. The Bond Oversight
Committee serves to ensure efficiency, timeliness, and accountability in the implementation of the
City's voter approved bond programs. This includes monitoring the City's plans relating to the
issuance of bonds. During the budget process in July, the City Council directed staff to evaluate
the 2023 bond program for two purposes:
1. The potential savings associated with a co-located library & active adult center.
2. Extending the bond program to reduce the annual tax rate impact.
Staff presented options to the City Council on August 8th during the budget workshop. The Bond
Oversight Committee convened a Special Called Meeting on Aug. 20 to receive a report and
provide feedback regarding the proposals in alignment with the committee’s charge to monitor the
issuance of the 2023 program bonds. Members attending were Brandon McCleskey, Nanci
Kimmey, Brand Richter, and Randy Robinson; absent members included Tim Crouch, Tamsyn
Price, and Janet Shelton. Staff provided the Bond Oversight Committee with an update on the 2023
bond projects, an overview of the projected tax rates, and the extended bond program timeline to
smooth tax rate impacts.
Committee feedback included:
Extension of bond program: Three members opposed extending the program, citing concerns
about cost escalation, project delivery history, and honoring voter expectations for timely delivery.
One member was in favor.
Co-locating the Active Adult Center and South Branch Library: All members supported
exploring the option as a cost‑saving measure but emphasized it should be a last resort. They
requested concept plans to better visualize impacts. Concerns included relocating the Senior Center
away from the population it serves and potential community expectations that it would remain on
its existing site.
Overall, the committee emphasized maintaining the current timeline, managing potential cost
escalation, and ensuring decisions align with community expectations.
September 11, 2026 Report No. 2026-055
CONCLUSION:
As directed by City Council during the budget workshop, staff have reduced the FY 2026-27 bond
program issuance to $5.8 million in the proposed budget, with the expectation to revisit the bond
issuance timeline and colocation of the active adult center and library during the upcoming fiscal
year.
STAFF CONTACT:
Matt Hamilton
Chief Financial Officer
matthew.hamilton@cityofdenton.com
(940) 349-8244
REQUESTOR: Staff Initiated
STAFF TIME TO COMPLETE REPORT: 30 Minutes