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06.10.25 Town Council Meeting PresentationWelcome to the June 10, 2025, Prosper Town Council Meeting Call to Order/Roll Call Invocation, Pledge of Allegiance, and Pledge to the Texas Flag. Pledge to the Texas Flag Honor the Texas flag; I pledge allegiance to thee, Texas, one state under God, one and indivisible. Announcements Presentations Agenda Item 1. Presentation from the Prosper Chamber of Commerce recognizing the inaugural class of Leadership Prosper. (MLS) Consent Agenda Agenda Item 2. Consider and act upon the minutes of the May 27, 2025, Town Council Regular meeting. (MLS) Agenda Item 3. Consider and act upon a contract between Mosquito Management Services and the Town of Prosper for mosquito mitigation/testing in the amount of $75,595 and authorize the Town Manager to execute documents for same. (DH) Agenda Item 4. Consider and act upon approving a purchase with Fuquay, Inc., to rehabilitate 15 wastewater manholes for $222,268 and authorizing the Town Manager to execute documents for same. (CJ) Agenda Item 5. Consider and act upon authorizing the Town Manager to execute a Construction Agreement between the Town of Prosper and Turf Concepts, LLC. for provision and installation of artificial turf in the Downtown Plaza for $64,725. (DB) Agenda Item 6. Consider and act upon an ordinance abandoning a portion of Coleman Street prescriptive right-of-way, located south of First Street, beginning at a point approximately 300 feet south of First Street and extending south approximately 1,600 feet to the intersection with Lovers Lane. (HW) Agenda Item 7. Consider and act upon an ordinance abandoning a portion of Good Hope Road prescriptive right-of-way, beginning at Berylline Lane and extending northeast approximately 800 feet to a point approximately 50 feet north of Kinglet Court. (HW) Agenda Item 8. Consider and act upon authorizing the Town Manager to execute a Construction Agreement awarding CSP No. 2025-08-B to J&L Construction, LLC, related to the FM 1461 12-inch Water Line Relocation project, for $4,085,802.90 and authorize $400,000 for construction phase contingencies. The total purchase order amount is $4,485,802.90. (PA) Bids Received: Eight (8) – March 20, 2025 Updated CSP Percentages: •Cost Proposal =65% •Project Timeline =25% •Qualifications/Exp =10% Range of Proposals (Cost): $4,085,802.90 - $8,032,594 Engineers Estimate: $7,364,213 Budget: $6,000,00 Range of Proposals (Time): 180 days - 425 days Recommendation: J&L Construction, LLC $4,085,802.90 180 days Agenda Item 9. Consider and act upon authorizing the Town Manager to execute a Professional Services Agreement between Raba Kistner, Inc., and the Town of Prosper, Texas, related to professional construction materials testing and observation services for the FM 1461 12-inch Water Line Relocation project for $63,020. (PA) Agenda Item 10. Consider and act upon whether to direct staff to submit a written notice of appeals on behalf of the Town Council to the Development Services Department, pursuant to Chapter 4, Section 1.5(C)(7) and 1.6(B)(7) of the Town’s Zoning Ordinance, regarding action taken by the Planning & Zoning Commission on Preliminary Site Plans and Site Plans. (DH) Folsom Elementary School Temporary Buildings (DEVAPP-25-0053) Information Purpose: •Add four temporary buildings totaling 7,575 square feet to an existing elementary school. •Accommodating additional enrollment at Rucker Elementary due to new school being constructed. History: •A site plan for a temporary building at Folsom Elementary (D14-0005) was approved by the Planning & Zoning Commission on June 20, 2023. Zoning Ordinance: •Temporary buildings are permitted by right for public schools (K-12). Citizen Comments Regular Agenda Pursuant to Section 551.007 of the Texas Government Code, individuals wishing to address the Council for items listed as public hearings will be recognized when the public hearing is opened. Agenda Item 11. Consider all matters incident and related to the issuance and sale of "Town of Prosper, Texas, Waterworks and Sewer System Revenue Bonds, Series 2025", including the adoption of an ordinance authorizing the issuance of such bonds and establishing procedures and delegating authority for the sale and delivery of such bonds. (CL) Parameters for Issuance of $33,896,633 of Revenue Bonds •Parameters approach allows staff to choose best time to issue which is currently planned for August 12th or later •Key parameters include: •Amount not to exceed $34,850,000; •True interest cost of 5.00% or less; •Maximum maturity of 20 years. Wastewater Projects Amount Doe Branch Expansion, Phase 3 WWTP: 2322-WW $27,500,000 Doe Branch Parallel Interceptor: 2103-WW $3,750,000 Subtotal Wastewater $31,250,000 Water Projects Amount Parks & Public Works Service Center, Phase 1: Construction $2,646,633 Subtotal Water $2,646,633 TOTAL REVENUE BONDS ISSUANCE $33,896,633 Revenue Bonds: $33,896,633 Agenda Item 12. Consider all matters incident and related to the issuance and sale of "Town of Prosper, Texas, General Obligation Refunding and Improvement Bonds, Series 2025", including the adoption of an ordinance authorizing the issuance of such bonds and establishing procedures and delegating authority for the sale and delivery of such bonds. (CL) Parameters for Issuance of $49,735,000 of General Obligation Refunding and Improvement Bonds: $19,450,000 (new money) and $30,285,000 (refunding) •Parameters approach allows staff to choose best time to issue which is currently planned for August 12th or later •Key parameters include: •True interest cost of 5.00% of less; •Maximum maturity of 20 years for new money; •Maximum maturity of 10 years for refunding; •Debt Service property tax rate will remain approximately the same Prop C Streets and Transportation Projects Amount 1512-ST First Street (DNT - Coleman): (Construction) 9,000,000 1710-ST Coit Road (First - Frontier) - 4 lanes: (Construction) 8,200,000 2142-ST Coleman (Prosper Trail - Talon) - 2 SB lanes: (Land/Esmt)1,500,000 Legacy (First - Prosper Trail) - 2 SB lanes: (Land/Esmt)550,000 Legacy (First - Prosper Trail) - 2 SB lanes: (Construction)200,000 Subtotal Streets $ 19,450,000 GRAND TOTAL NEW MONEY $ 19,450,000 New Money: $19,450,000 Series Type Call Date Currently Outstanding 2014 Certificates of Obligation 8/15/2024 – Currently Callable 7,495,000 2015 Certificates of Obligation 2/15/2025 – Currently Callable 5,420,000 2015 General Obligation 2/15/2025 – Currently Callable 6,920,000 2016 Certificates of Obligation 2/15/2025 – Currently Callable 7,140,000 2016 General Obligation 2/15/2025 – Currently Callable 3,310,000 GRAND TOTAL REFUNDING $ 30,285,000 Refunding: $30,285,000 Jason Hughes Senior Managing Director June 10, 2025 Town of Prosper Member FINRA/SIPC/NYSE © 2025 Hilltop Securities Inc. MMD Interest Rate Movement in 2025 36 0.00 0.50 1.00 1.50 2.00 2.50 3.00 3.50 4.00 4.50 5.00 5 Year 10 Year 15 Year 20 Year 25 Year 1/13/2025 4/4/2025 4/9/2025 60bps 67bps 74bps 78bps 73bps Member FINRA/SIPC/NYSE © 2025 Hilltop Securities Inc. MMD Interest Rate Movement in 2025 37 0.00 0.50 1.00 1.50 2.00 2.50 3.00 3.50 4.00 4.50 5.00 5 Year 10 Year 15 Year 20 Year 25 Year 4/4/2025 4/9/2025 6/6/2025 Member FINRA/SIPC/NYSE © 2025 Hilltop Securities Inc. Parameter Bond Sale 38 ▪Council delegates final pricing authority to Pricing Officers ▪Council establishes bond sale parameters: ➢Maximum interest rate ➢Maximum principal amount of bond issue ➢Minimum savings level for refunding component ➢Final maturity date ➢Expiration of delegated authority ▪Pricing Officers can only approve sale if ALL Council approved parameters are met ▪Reason for Parameter Bond Sale = FLEXIBILITY ➢Especially beneficial in a market experiencing significant volatility ▪Market Timing – Bond issue is in ‘Day-to-Day’ mode, meaning the bonds can be priced at any time and in an interest rate environment that is advantageous rather than being locked into pricing on the date of a Council meeting Member FINRA/SIPC/NYSE © 2025 Hilltop Securities Inc. Suggested Parameters 39 General Obligation Refunding & Improvement Bonds Water and Sewer Revenue Bonds Maximum Par: - New Money $19,450,000 $34,850,000 - Refunding $30,285,000 --- Maximum Rate (TIC)5.00%5.00% Minimum Refunding Savings 3.0%--- Final Maturity August 15, 2045 August 15, 2045 Member FINRA/SIPC/NYSE © 2025 Hilltop Securities Inc. GO Refunding Candidates 40 Original Series Callable Par (1)Call Date (2)Coupons 2014 CO $6,870,000 8/15/2024 4.00% 2014 GO $550,000 8/15/2024 4.00% 2015 CO $5,420,000 2/15/2025 4.00 - 5.00% 2015 GO $6,920,000 2/15/2025 4.00 - 5.00% 2016 CO $7,140,000 2/15/2025 3.50 - 4.00% 2016 GO $3,310,000 2/15/2025 3.50 - 4.00% (1) Excludes principal due in FY 2025. Refunding Candidates (2) The call date is determined at the time of pricing of each individual issue and is based on the then current market environment. Agenda Item 13. Consider and act upon a Professional Services Agreement between Emergifire, LLC., and the Town of Prosper to implement a program to charge mitigation rates for the deployment of emergency and non-emergency services provided by Prosper Fire Rescue. (SB) Proposal for fire response billing emergifire.com 833-BILLFIRE info@emergifire.com ❑Expanded from Emergicon – EMS Billing ❑Zero Upfront Costs – Percentage of collections only. ❑Integrates into our existing reporting system to identify and pursue insurance billing opportunities. ❑Directly through commercial policy claim. ❑FEMA and National Averages Fees Assessed ❑Taxes pay for readiness, but often fail to cover the cost of utilization, especially for major incidents. ❑EMERGIFIRE helps departments target insurance reimbursement for costs incurred. ❑Insurance carriers have long included fire department service charge recovery clauses in their policies to help pay for costs related to fire incident and first response. ❑Unfortunately, many departments do not have the processes and personnel in place to identify and pursue reimbursement claims for commercial and industrial-related incidents therefore causing a strain on budgets. ❑A key benefit of fire billing is that it is focused on insurance carriers, not residents. 46 ❑EMERGIFIRE – Fire Response Billing Billable fire incident costs include personnel, equipment, and debris removal as well as inspections and permit building. Questions? Agenda Item 14. Consider and act upon an ordinance amending Chapter 5.05 of the Towns Code of Ordinances, by repealing existing Article 5.05, “Hazardous Materials Incident Response,” and replacing it with a new Article 5.05 “Mitigation Rates for Emergency and Non-Emergency Services”, amending Appendix A, “Fee Schedule,” to the Town’s Code of Ordinances by adding a new section XXIII, “Fire Department Mitigation Rates,” of Appendix A, “Fee Schedule,” to this Code of Ordinances. (SB) Agenda Item 15. Discuss and consider Town Council Subcommittee reports. (DFB) Possibly direct Town Staff to schedule topic(s) for discussion at a future meeting. Executive Session Section 551.087 – To discuss and consider economic development incentives and all matters incident and related thereto. Section 551.072 – To discuss and consider the purchase, exchange, lease, or value of real property for municipal purposes and all matters incident and related thereto. Section 551.074 – To discuss and consider personnel matters and all matters incident and related thereto. Section 551.071 - To consult with the Town Attorney regarding legal issues associated with code enforcement and law enforcement activities, and all matters incident and related thereto. The Town Council will reconvene after Executive Session. Reconvene into Regular Session and take any action necessary as a result of the Closed Session. Adjourn.