Page 293 - CityofWataugaAdoptedBudgetFY25

CIP AND CAPITAL PROJECTS FUNDS

Justification: The current condition of the Public Works yard pavement area is in
complete disrepair and in need of a complete replacement. In addition, the recent
expansion of the fleet maintenance building has created a need to optimize parking.

Operating Impact: This project is being funded by the 2024 Certificate of Obligations
issued in September 2024.

FY2024-2025 ECONOMIC DEVELOPMENT PROJECTS DISCUSSION

❖ Description: Food Business Park Project, $500,000
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.
The project began back in FY22-23 and is anticipated to be completed during FY24-25
with a total project expense of $500,000.

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 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 are 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.

FY2024-25 STREETS/SIDEWALKS DISCUSSION

❖ Description: FY2024-2025 Street Overlay, $800,000
This project provides for the curb and gutter, subgrade, milling, and asphalt overlay for 7-
8 streets annually.

Justification: The existing asphalt pavement for
certain streets is deteriorating. The asphalt
overlay will provide an improved riding surface and
will extend the life of the roadways and will
enhance the appearance of the streets.

Operating Impact: The street program is cash
funded by a transfer from the General Fund to the
Capital Projects fund.

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