Page 273 - CityofWataugaAdoptedBudgetFY24

CIP AND CAPITAL PROJECTS FUNDS

vehicle wash bay will be reopened per code and the utility storage will be moved to the
western portion of the new building.

Justification: The Fleet Division has expanded its operation serving the City and seven
other cities in the last few years through Interlocal agreements. The additional bays will
provide a means to efficiently serve the eight fleets and reduce equipment downtime. The
fire suppression system will add safety for the building and firefighters.

Operating Impact: This project will be funded through the 2022 Certificates of Obligation
Proceeds. Once completed, it is estimated that the increase to maintenance and utility
costs will be approximately $8,000/annually. The cost will be shared between the General
Fund and the Interlocal Fund 21. The City contracts with surrounding cities to provide
certain fleet services for emergency vehicles.

FY2023-2024 ECONOMIC DEVELOPMENT PROJECTS DISCUSSION

FY2023-2024 FOOD BUSINESS PARK PROJECT- $456,000

❖ Description: This EDC project will provide for the construction of a food business park
at Capp Smith Park. The site is planned to include a small entertainment stage with
associated parking.

Justification: This project was designed to spur economic development activity in the
city and surrounding region to help rebound from the impact of COVID-19. In addition,
the private ownership of available parcels has caused the small restaurant entrepreneurs
to seek other options outside of the cost City due to cost of real estate. The site will allow
for mobile restaurants to support and promote economic activity within the City of
Watauga with the objective to give restaurant owners the opportunity to build up a
clientele in the Northeast Texas Mid-Cities area with minimal start-up costs.

Operating Impact: Funds will be provided by the 2020 Certificates of Obligation
proceeds. The City anticipates the impact of the operating budget for maintenance of
the food business park to be approximately $3,000 per year after completion.

FY2023-24 STREETS/SIDEWALKS DISCUSSION

FY2023-2024 STREET OVERLAY $800,000

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