Close Menu
Fund Focus News
    Facebook X (Twitter) Instagram
    Trending
    • MAPPED: A guide to natural wine in Prague – 15 spots to sip
    • Several SOL Staking ETFs May Be Approved Within 2 Weeks
    • Here’s how I’m looking to build retirement wealth with ISAs and SIPPs
    • NPR asks judge to stop CPB from taking money for satellite system away from NPR : NPR
    • CITs Outpace Mutual Funds in 2024
    • Supreme Court allows US to cancel $4 billion in foreign aid funds
    • Sarah Ferguson sells her £4.2million Belgravia townhouse – and funds ‘may keep her and Prince Andrew in the Royal Lodge in Windsor’
    • NIH Funds New Autism Studies on Genes and Environment as Trump Focuses on Tylenol
    Facebook X (Twitter) Instagram
    Fund Focus News
    • Home
    • Bonds
    • ETFs
    • Funds
    • Investments
    • Mutual Funds
    • Property Investments
    • SIP
    Fund Focus News
    Home»Bonds»City Hall Roundup: Council Questions Unfinished Dallas Bond Projects
    Bonds

    City Hall Roundup: Council Questions Unfinished Dallas Bond Projects

    October 27, 2024


    Almost two decades have passed since voters approved a $1.35 billion slate of bond projects in 2006, and Dallas Councilwoman Cara Mendelsohn said the delays are inefficient and “not good governance.” 

    The council member’s comments came during an Oct. 16 City Council briefing, at which elected officials were updated on the ‘06 bond program as well as bonds passed in 2012 and 2017. 

    As officials are working out an implementation plan for 10 bond propositions, totaling $1.25 billion, approved in May of this year, the question has come up, “Whatever happened to those projects approved years ago?”  

    Project delays can be attributed to various things, such as changes in scope presented by a developer or rising construction costs. A snazzy dashboard created by the Office of Bond and Construction Management tracks the projects in real-time. 

    Watch the Oct. 16 Dallas City Council meeting and view the slide presentation from the bond office. 

    Unencumbered Funds in 2006 Bond

    Assistant City Manager Dev Rastogi explained the status of “unencumbered funds” from the 2005, 2012, and 2017 bonds. The term refers to funds that have not yet been awarded by the City Council but are already earmarked for specific projects. Despite some delayed projects, about 2,760 initiatives associated with the 2006 bond were completed with $3.6 million remaining. 

    “We’ll be able to take that money and reprogram it,” Rastogi said. 

    Oct. 16 presentation

    Six projects make up 80% of the unencumbered funds from the 2006 bond. Two are projects that City officials knew would take a long time, the assistant city manager explained. Those include the $13.8 Mill Creek drainage relief project and the $3.9 million Dallas Floodway extension. Other unencumbered projects from 2006 include Cadillac Heights land acquisition ($10.9 million), Cockrell Hill – La Reunion to Singleton ($5.2 million), Preston Royal Branch Library renovation ($3.8 million), and American Disabilities Act improvements ($2.2 million). 

    Rastogi also reviewed outstanding projects in the 2012 and 2017 bond programs and noted that while some funds remain unencumbered, there also are several projects from previous bonds slated for completion in early 2025. 

    The City of Dallas didn’t have an Office of Bond and Construction Management until the 2017 propositions passed, Rastogi explained.

    “I think it’s important to note as we look at 2006 and 2012 that we didn’t really have that level of oversight,” she said.  

    ‘I Want to Make Sure These Projects Get Done’ 

    In response to a question from Councilwoman Mendelsohn, Budget Director Janette Weedon said all bonds have been issued for the 2006, 2012, and 2017 projects. 

    “That cash is available to be used for those projects that are still waiting to be completed,” she said. 

    Cara Mendelsohn

    Mendelsohn asked why older projects weren’t finished before new ones were initiated. Interim City Manager Kimberly Bizor Tolbert said it is her “hope and expectation” that older projects would be completed first, but some are no longer viable. 

    “There are a couple of projects … that we definitely need to bring back and have a broader conversation,” Tolbert said. “The land acquisition for Cadillac Heights, we definitely want to bring that one back.” 

    Mendelsohn said her Far North Dallas district has been “ready to go” on several approved projects, including Frankford and Bent Tree Meadow parks, since 2017. 

    “We were told that the financial side was not there, that there wasn’t the bonding capacity, that the dollars weren’t available, and that we were prioritized at the end of the line,” she said. “I want to make sure those projects get done.” 

    Assistant Park and Recreation Director Christina Turner-Noteware said a work plan is in place and all of the parks projects are moving forward. The two District 12 parks projects have been advertised and are expected to go before the City Council by the end of the year, she said. 

    Mendelsohn said she was shocked by how slow the process is. 

    “I strongly encourage the city manager and park director to look at 2006, 2012, and 2017, and put these to bed,” she said. “I think this is very problematic. It’s been 18 years since 2006 … there are projects that were ready to go that are still sitting there. The efficiency of government is something that we’re all striving to do … but the proof is in the pudding. These items aren’t coming forward. I’m concerned — it’s not just parks, it’s every dollar that’s on here — that we can keep asking taxpayers to approve more debt when we’re not accessing projects that we are already available. [It] is not good governance.” 

    Not everyone shared Mendelsohn’s concerns. Councilwoman Carolyn King Arnold said her constituents were happy to see “dust flying” on a slate of public works projects approved in the southern sector in 2017. 

    “The constituents are giving me good feedback,” she said. “That’s the key. Constituents want to see their money and their dollars at work. I am here to make sure I put their voice out there in terms of what they need, holding us accountable and being transparent.” 



    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email

    Related Posts

    Long Bonds Suddenly Back in Vogue as Supply Fixes Ease Angst

    September 26, 2025

    Chinese Internet Giants Speed Up Issuance of Dim Sum Bonds to Fuel AI Expansion

    September 26, 2025

    Abu Dhabi bonds mandates dual tranche USD bonds; books over $10bln

    September 25, 2025
    Leave A Reply Cancel Reply

    Top Posts

    The Shifting Landscape of Art Investment and the Rise of Accessibility: The London Art Exchange

    September 11, 2023

    Charlie Cobham: The Art Broker Extraordinaire Maximizing Returns for High Net Worth Clients

    February 12, 2024

    Here’s how I’m looking to build retirement wealth with ISAs and SIPPs

    September 26, 2025

    The Unyielding Resilience of the Art Market: A Historical and Contemporary Perspective

    November 19, 2023
    Don't Miss
    SIP

    MAPPED: A guide to natural wine in Prague – 15 spots to sip

    September 26, 2025

    Natural wine—made with minimal intervention, wild yeasts, and little to no additives—has moved from niche…

    Several SOL Staking ETFs May Be Approved Within 2 Weeks

    September 26, 2025

    Here’s how I’m looking to build retirement wealth with ISAs and SIPPs

    September 26, 2025

    NPR asks judge to stop CPB from taking money for satellite system away from NPR : NPR

    September 26, 2025
    Stay In Touch
    • Facebook
    • Twitter
    • Pinterest
    • Instagram
    • YouTube
    • Vimeo
    EDITOR'S PICK

    How to Invest in Treasury STRIPS (Zero-Coupon Bonds)

    August 26, 2025

    OmniRetail lève 20 millions $ pour accélérer sa croissance en Afrique de l’Ouest

    April 28, 2025

    ‘Miscommunication’ may have seen girl, 13, die after one sip of dairy Costa Coffee hot chocolate

    August 13, 2024
    Our Picks

    MAPPED: A guide to natural wine in Prague – 15 spots to sip

    September 26, 2025

    Several SOL Staking ETFs May Be Approved Within 2 Weeks

    September 26, 2025

    Here’s how I’m looking to build retirement wealth with ISAs and SIPPs

    September 26, 2025
    Most Popular

    🔥Juve target Chukwuemeka, Inter raise funds, Elmas bid in play 🤑

    August 20, 2025

    💵 Libra responds after Flamengo takes legal action and ‘freezes’ funds

    September 26, 2025

    ₹10,000 monthly SIP in this mutual fund has grown to ₹1.52 crore in 22 years

    September 17, 2025
    © 2025 Fund Focus News
    • Get In Touch
    • Privacy Policy
    • Terms and Conditions

    Type above and press Enter to search. Press Esc to cancel.