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Council approves TIF Reinvestment Zone No.1 financing-plan amendment reallocating roughly $5.3 million
Summary
The council approved an amendment to the TIF Reinvestment Zone No.1 financing and project plan to reallocate about $5.3 million from released reserves and refunded bonds toward projects including the Outer Loop and portions of Windland Road and Power Drive.
Temple City Council voted 5–0 Thursday to adopt an amendment to the Tax Increment Financing (TIF) Reinvestment Zone No. 1 financing and project plans, reprioritizing available funds and reallocating proceeds from recent refunding activity.
Miss Bernard (staff member) summarized the amendment and said the Reinvestment Zone Board approved it July 21. She said roughly $5.3 million became available by reprioritizing projects and replacing reserve funds with surety insurance, and additional savings arose from bond refunding. Staff proposed allocating about $1.1 million to construction for an Outer Loop segment (I‑35 to Windland), design funds of $693,800 for Windland Road Extension and Power Drive, and just over $4.6 million toward construction for Windland/Power Drive; staff noted the Windland/Power Drive construction estimate is about $8.5 million, so the TIF allocation does not fund the entire project.
Bernard said one of the steps to free up funds was the replacement of certain reserve funds with insurance and a refunding of 2018 bonds on May 15, 2025; two insurance purchases will be presented to council on Aug. 21. The amendment also reallocated modest savings in debt service to a general public-improvements account.
Councilmember Walker moved to approve the financing-plan amendment; Councilmember Kuykendahl seconded. The council voted 5–0 in favor.
Why it matters: the amendment repurposes previously held reserves and debt-savings to accelerate specific capital projects, including roadway and right-of-way acquisitions, while preserving the plan's structure through 2062.
Next steps: staff will present the surety-insurance actions and final accounting at the Aug. 21 meeting and proceed with project design and right-of-way work as budgeted.
