City Council Approves Financing $152 Million - KCBD NewsChannel 11 Lubbock

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City Council Approves Financing $152 Million

Lubbock City Council approved selling tax exempt bonds worth $152 million Thursday.  The bonds will be used to finance a long list of projects including a visitor center and an overpass at North Loop 289 & Slide Road.

City council had previously given its blessing to this list of projects.  This vote was approval of how to finance them. 

The full list from the City of Lubbock is below.

CITY FACILITIES

  • Visitors Information Center-  $4,590,000
  • Library Renovations*-  $250,000
  • Municipal Auditorium Renovations*-  $5,000,000
  • Civic Center Renovation*-  $1,450,000
  • Police Department and Municipal Courts Renovation*-  $1,002,500
  • City Hall System Repair-  $300,000
  • New Fire Station No. 17-  $162,671

GATEWAY STREETS

  • Overpass - Loop 289 at Slide Road-  $12,500,000
  • Gateway Streets Right-of-Way Coordination-  $500,000
  • Slide Road from 4th Street North to Loop 289-  $4,144,000
  • Quaker Avenue and 114th Street-  $2,000,000
  • Indiana Avenue - 103rd to Farm to Market 1585-  $1,000,000
  • Ash Avenue - Farm to Market 1294 to County Road 5800-  $5,600,000
  • 98th Street, Frankford Avenue, and Milwaukee Avenue-  $2,000,000
  • Milwaukee Avenue 100th Street to Farm to Market 1585-  $1,500,000
  • Lubbock Business Park Boulevard-  $585,000

STREETS

  • 34th Street and University Avenue Intersection Reconstruction*-  $1,395,000
  • Traffic Signals-  $200,000
  • North and East Lubbock Residential Street Infrastructure-  $575,000
  • Street Maintenance Program-  $8,932,000

PARKS

  • Park Pavilions-  $214,000
  • Park Playground Replacement-  $400,000

Tax Increment Finance

Water, sewer, electric, drainage, park, and street improvements and extensions, including utility relocations, sidewalks, amenities, street lighting, and landscaping, all located within the City's North Overton Tax Increment Financing District.-  $1,896,402

SOLID WASTE

  • Leachate Evaporation Pond-  $250,110

STORM WATER

  • Vault Replacement-  $300,000
  • Storm Sewer Repair and Replacement-  $600,000
  • Northwest Lubbock and Maxey Park Project-  $1,000,000

WASTEWATER SYSTEM

  • Electrical Facility-  $ 140,000
  • Sewer Line Replacements-  $660,000
  • Installation of Sewer Lines Ahead of Street Paving-  $350,000
  • Sewer Tap Replacements-  $650,000
  • Water Reclamation Plant Replacements-  $950,000
  • South Lubbock Sanitary Sewer System Expansion-  $1,000,000
  • Southeast Water Reclamation Plant Improvements Phase III-  $1,000,000
  • Lift Station Rehabilitation-  $310,000
  • Sewer Lines Ahead of Sharp Freeway-  $1,000,000
  • Major Sewer Lines Replacement-  $1,000,000

WATER

  • Supplemental Water Supply for Lake Alan Henry-  $500,000
  • Water Treatment Plant Improvements-  $1,700,000
  • Pumping System Improvements-  $222,390
  • Parks Conversion to Ground Water-  $500,000
  • Water Line Replacement-  $550,000
  • Water Lines Ahead of Street Paving-  $360,000
  • Water Meter Replacements and Program-  $5,980,891
  • Lake Alan Henry Raw Water Line/Pump Stations-  $41,000,000
  • Lake Alan Henry Water Treatment Plant and Terminal Reservoir-  $500,000
  • Eastport Water Renovation-  $1,250,000
  • Irrigation Automation and Control Systems-  $1,422,960
  • Airport Industrial Area Water System Improvements-  $2,200,000

ELECTRIC

  • Canyon West Infrastructure-  $600,000
  • Service Distribution-  $300,000
  • Underground Electric Service Distribution-  $3,500,000
  • Distribution Transformers-  $2,200,000
  • Substation Transformer Replacement-  $500,000

$128,692,924

MASTER LEASE PURCHASES

Scheduled Master Lease purchases for various city departments include the purchase of vehicles, machinery, electronics, computer hardware and software, and other necessary equipment.-  $ 24,005,285

TOTAL $152,698,209

*General Obligation Bonds. These projects were approved by the voters in an election held in May 2004.

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