STRATEGIC PRIORITY: Government Performance & Financial Management
AGENDA DATE: June 26, 2024
COUNCIL DISTRICT(S): N/A
DEPARTMENT: City Controller's Office
EXECUTIVE: Jack Ireland
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SUBJECT
Title
Authorize the (1) acceptance of a loan from the Texas Water Development Board (TWDB) for low-cost financial assistance through the Flood Infrastructure Fund for Texas in an amount up to $90,090,000; (2) acceptance of a grant from the TWDB through the Flood Infrastructure Fund for Texas, in an amount up to $23,100,000, for eligible projects included in the Dallas Water Utilities Capital Improvement Program and designated by the TWDB as Project No. 40208; and (3) execution of the Financing Agreements and related documents - Financing: This action has no cost consideration to the City (see Fiscal Information)
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BACKGROUND
The Flood Infrastructure Fund (FIF) was passed by the Legislature and approved by Texas voters in 2019 through a constitutional amendment, the FIF program provides financial assistance in the form of loans and grants for flood control, flood mitigation, and drainage projects. On September 17, 2020, the TWDB approved the Prioritization List and Eligible Funding Amounts under the FIF, including two projects for the Modified Dallas Floodway Project, relating to an extension of the floodway and levee system.
The Dallas Floodway Levee System is locally owned and operated, federally regulated by the U.S. Army Corps of Engineers (USACE) and provides flood risk mitigation for an area that encompasses over $14 billion in real and personal property and over 400,000 residents. The levee system currently has two ongoing federal projects that have completed all environmental clearances, received their Record of Decisions, and appropriated funds through the USACE Civil Works Program. Per executed project partnership agreements between the USACE and the City, the City is obligated to cost partici...
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