Central Texas Expressway Overpass: During its 12/16/2008 meeting the Council approved awarding a professional services contract to HDR Engineering to submit a pass-through application to TxDot (Texas Dept of Transportation) to offset the cost of designing and constructing an overpass on Central Texas Expressway (CTX) to cross over a proposed northern extension of Rosewood Drive.
The city is planning to extent Rosewood Drive north to FM 2410. To allow this, the Rosewood will need to cross over or under the CTX. TxDot has chosen to raise CTX to pass over Rosewood Drive. The overpass is planned to be built just to the west of Roy Reynolds Drive, possibility as its extension with Stonetree Drive.. An overpass over CTX will allow the city to extend Rosewood Drive from FM 2410 (possibility Veterans Memorial Blvd.) to Chapparal Road over a nine (9) to ten (10) year period. This will give the city a four lane thoroughfare on the east side of town that runs from FM 2410 to Chapparal and will also provide a turn-around back into Killeen without going to the FM 2410 & CTX intersection in Harker Heights.
A large part of Rosewood has already been constructed with developer/city funding whereby developers absorbed a large part of the cost to construct Rosewood. The cost of future development of Rosewood will also include developer participation, which will save some taxpayer dollars.
Before an application can be submitted to TxDot for participation in this project, the city will need engineering plans for the overpass. Thus, HDR will develop the plans for the overpass and assist the city in obtaining TxDot approval and participation in the project.
There are no guarantees that TxDot will approve the application or to what degree, if any, it will participate. We were told that discussions with TxDot have been favorable; but regardless, we have to have a plan and submit an application to be considered.
A major consideration is the current economic situation and the availability of State funds. We are acting on faith that funds will become available and if Federal funds are approved for local infrastructure construction we will get our share.
Widening of Central Texas Expressway: As part of the overpass briefing, we were told that the second phase of the CTX widening project should begin next year. This widening will be from the Fort Hood Main Gate to W.S. Young. The widening will accommodate six lanes of traffic. You might note that the current widening now extends past the Main Gate.
Second Hand Dealer Ordinance: The council passed a Second Hand Dealers Ordinance. The ordinance will require second hand dealers to keep records and submit reports on purchased item in much the same way as pawn shop owners. The purpose of the ordinance is to assist the KPD in recovering stolen property. The ordinance was needed and I hope will assist the KPD in doing its job. I was going to ask for a delay in passage so that the second hand dealers could be given a change to speak to the subject; however, one pawn shop owner did speak and said there would be some small cost in time; but the overall effect would be positive. So, I only asked that the Chief have public hearings on new ordinances in the future. As a second thought, I thought it better to get the ordinance passed and into effect rather than to delay it for a month.
Tax Reinvestment Zone (TIRZ): The newly appointed TIRZ #2 Board of Directors met Dec. 16, 2008. This meeting was an organization meeting to elect a Chair and Vice Chair and to submit a draft document setting forth duties, responsibility, and procedures of the Board. Pat Kaufman was elected Chair. Larry Cole was elected Vice Chair. Member on the Board are: Tim Brown, Bell County; John Fisher, Bell County; Mayor Hancock, Killeen; Fred Latham, Killeen; Rex Weaver, Central Texas College.
A TIRZ is a development tool used to finance public improvements in a specifically designated zone using tax increments. The TIRZ was originally proposed to finance downtown redevelopment; but has been extended to include the new LaCascata (The Water Falls) development and the Killeen Industrial Park. These areas must be joined by passage easements.
A TIRZ receives tax funds from the increased value of designated developing areas for the purpose of funding public infrastructure in those areas. The TIRZ effect only it members (City of Killeen, Bell County, and CTC) it does not effect the KISD as it is not a member. The TIRZ members will continue to receive tax revenues on a property’s current assessed value. However, any increase in assessed value and resulting revenues as the result of new development will go to the TIRZ. Example: A property is assessed at $100,000 as of 1/1/09. The TIRZ members will continue to receive the dollars generated by $100,000 for the duration of the TIRZ (20yrs). However, if as the result of development within the Zone results in an increase in value of say to $200,000, the TIRZ will receive revenues based on the $100,000 increase and the members will receive their revenues based on $100,000. If the next year the Zone increases in say another $50,000, the Zone will receive funds base on $150,000 of assessed value and the members will receive they revenues based on $100,000.
True the TIRZ will or may offset development cost of public infrastructure for a developer. In my view, this is nothing more than providing incentives to new companies to move to Killeen. We have provided incentives in the past and other cities give incentives as a matter of course. Many cities use a TIRZ to fund new development, so we are not doing anything unusual.
Finally, we will have to guard against put too much money into new developments at the expense of downtown redevelopment.
LaCascata: If you have not heard of LaCascata, it is a multiuse development planned for the area north FM 2410 at its intersection with Stan Schlueter Loop and to the west of SkyLark Field. This development will consist of retail, office, apartment, assisted living, and entertainment facilities. This will be a phased project over a 10 years period, depending on economic conditions. The first phase will be an apartment complex in the northeast section of the development tract. Included in the complex is an amphitheater, four ponds/lakes, and hike and bicycle trails. These facilities will be in the tract’s ravines. It is a great concept and plan. The developers say they have the initial funding. Will it come to pass? Who knows; but we are trying.
Merry Christmas and a Happy New Year to all.
