Page 265 - NRH FY20 Approved Capital Budget

Economic Development Capital Projects
Department Project Title Project Number
Economic Development Davis Boulevard Improvement 2019 ED1901
Project Description
Public utility improvement assistance to facilitate the development of a 10.5 acre commercial project anchored by a 32,000 s.f.
Alamo Drafthouse Cinema which includes 5 additional pad sites fronting Davis Boulevard.

Project Justification
One of City Council’s goals is Targeted Economic Development, attracting business that expands the City’s tax base while
enhancing the City’s quality of life. According to the most recent citizen survey, a first run movie theater was one of the most
requested uses, in which the City does not currently have. Over a 10 year term, the financial benefit to the City is anticipated to be
$2.7 million in incremental City revenues, not including development or ongoing City fee revenue.

Project Schedule Beginning Date Ending Date History Fiscal Year Amount
Professional Services Revision 2018-19 $450,000
Engineering/Design Total $450,000
Land/ROW Acquisition
Construction
Other 08/2018 04/2019
Total Schedule 08/2018 04/2019
Sources of Funds To Date 2019-20 Budget 2020-21 Estimate 2021-Completion Total Funding
General Obligation Bonds
Certificates of Obligation
Federal/State Grants
Reserves 450,000 0 0 0 $450,000
Sales Tax
Other
Total Funding $450,000 $0 $0 $0 $450,000
Project Costs To Date 2019-20 Budget 2020-21 Estimate 2021-Completion Total Cost
Professional Services
Engineering/Design
Land/ROW Acquisition
Construction
Other 450,000 0 0 0 $450,000
Total Costs $450,000 $0 $0 $0 $450,000
Operating Impact
Not applicable.

Fiscal Year 2019-20 2020-21 2021-22 2022-23 2023-24 Total Impact
Amount $0 $0 $0 $0 $0 $0
Total Operating Impact $0 $0 $0 $0 $0 $0

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