Page 267 - NRH FY20 Approved Capital Budget

Economic Development Capital Projects
Department Project Title Project Number
Economic Development Loop 820 Redevelopment 2010 ED1002
Project Description
The North Tarrant Express is bringing added attention and interest from the commercial development community at this key North
Richland Hills intersection. This project will provide the ability to optimize accessibility and dictate uses with an emphasis on quality
and impact to community. The construction costs associated with creating left turn access from southbound Rufe Snow via Corona
into the southeast corner of Rufe Snow & Loop 820 is also included.

Project Justification
To optimize transportation access while controlling future development, the City stands to benefit through the following:

1. Increase in sales tax revenues.
2. Increase in property tax revenues.
3. Potential increase in hotel tax revenues.
4. Indirect positive impact to other commercial areas within the vicinity.
5. Provide NRH citizens with a high quality development.

Note: Reserves funding is from the Gas Development Fund Reserves designated for Economic Development. "Other" funding is a
commercial loan which will be repaid from the Gas Development Fund Reserves - General Purpose.

Project Schedule Beginning Date Ending Date History Fiscal Year Amount
Professional Services 12/2010 09/2016 Adopted Budget 2009-10 $1,937,938
Engineering/Design Revision 2011-12 $150,000
Land/ROW Acquisition 11/2009 02/2018 Revision 2012-13 ($61,000)
Construction Revision 2014-15 ($431,366)
Other Total $1,595,572
Total Schedule 11/2009 02/2018
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 1,169,097 0 0 0 $1,169,097
Sales Tax
Other 426,475 0 0 0 $426,475
Total Funding $1,595,572 $0 $0 $0 $1,595,572
Project Costs To Date 2019-20 Budget 2020-21 Estimate 2021-Completion Total Cost
Professional Services 100,000 0 0 0 $100,000
Engineering/Design
Land/ROW Acquisition 1,495,572 0 0 0 $1,495,572
Construction
Other
Total Costs $1,595,572 $0 $0 $0 $1,595,572
Operating Impact
Minimal operating impact expected

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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