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Council briefed on CIP priorities funded with 2022 and 2025 CO proceeds
Summary
Staff proposed funding multiple capital projects in FY2526 using leftover proceeds from the city's 2022 and recently issued 2025 certificates of obligation, including completion of an elevated storage tank, pool and library repairs and infrastructure work tied to development on the city’s east and west sides.
City staff told the Nassau City Council they intend to use remaining proceeds from previously issued certificates of obligation to fund a slate of capital improvement projects in FY2526.
"Your 2022 certificates of obligation had not been fully utilized," Mr. Hemminger said, and staff identified roughly $1.4 million remaining from the 2022 COs to complete the elevated storage tank project. Hemminger said that the 2025 COs, issued a few months earlier, also include funds for projects already identified in the offering statement and for several additional eligible projects staff now proposes to fund.
Highlighted projects in the proposed capital-improvement program (CIP) include pool repairs, roof repairs and recoating at the library (with interior repairs also noted), repairs at the wastewater treatment plant discharge site, a portable water pump upgrade, a gas regulator station on the east side of Highway 6 to serve additional development and water/gas loops near Pecan Lakes. Hemminger told council these projects are eligible uses under the offering statements tied to the COs and that using the CO proceeds avoids dipping into the general-fund balance.
Staff also described smaller general‑fund CIP items included in the proposed budget: Miller Park basketball court concrete nearing completion, pool-house roof repairs (an estimated $55,000), vehicle lift for maintenance services, animal shelter renovations and continuation of trail repaving at August Horse Park. Hemminger said interior fire-station repairs are included as a stopgap if council delays constructing a new station.
On development-related infrastructure, Hemminger said the city has already invested roughly $750,000 in the natural-gas system and that staff plan to negotiate pro‑rata developer contributions — though he noted natural gas is not eligible for a formal impact fee and any cost-sharing would be via contractual development agreements.
Ending: No vote or formal action was taken at the workshop; staff asked the council to review the proposed CIP items and said funding plans rely on CO eligibility and council direction on development concessions and priorities.
