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File #: 22-5645    Version: 1 Name:
Type: Contract - Award Status: Agenda Ready
File created: 9/9/2022 In control: Commissioners Court
On agenda: 9/13/2022 Final action: 9/13/2022
Title: Request by the Flood Control District for approval of an escrow agreement with Cadence Bank N.A., for the Texas Water Development Board (TWDB) grant for the Lauder Stormwater Detention Basin Project (Compartment 2) on HCFCD Unit P500-06-00 for the deposit of funds for the payment of sums due by the District. (Greens Bayou Watershed, Bond ID C-34, Project ID P500-06-00-E006, Precinct 2, TWDB Project 40152).
Department: Flood Control District
Department Head/Elected Official: Tina Petersen, Ph.D., P.E., Executive Director

Regular or Supplemental RCA: Supplemental RCA

Type of Request: Contract - Award

Project ID (if applicable): P500-06-00-E006
Vendor/Entity Legal Name (if applicable): Cadence Bank N.A.

MWDBE Contracted Goal (if applicable): N/A
MWDBE Current Participation (if applicable): N/A
Justification for 0% MWDBE Participation Goal: N/A - Goal not applicable to request

Request Summary (Agenda Caption):
title
Request by the Flood Control District for approval of an escrow agreement with Cadence Bank N.A., for the Texas Water Development Board (TWDB) grant for the Lauder Stormwater Detention Basin Project (Compartment 2) on HCFCD Unit P500-06-00 for the deposit of funds for the payment of sums due by the District. (Greens Bayou Watershed, Bond ID C-34, Project ID P500-06-00-E006, Precinct 2, TWDB Project 40152).
end

Background and Discussion:
The grant application to the Texas Water Development Board, in the amount of $1,464,700.00 with a required match of $13,182,300.00, for FY 2023 Lauder Stormwater Detention Basin Project (Compartment 2) was approved on March 24, 2022.

Expected Impact:
Establishing this escrow account will allow the Flood Control District access to TWDB awarded grant funds.

Alternative Options:
There are no other options in order to secure these TWDB grant funds. Not approving would prohibit our ability to utilize these grant funds.

Alignment with Goal(s):
_ Justice and Safety
_ Economic Opportunity
_ Housing
_ Public Health
_ Transportation
X Flooding
_ Environment
_ Governance and Customer Service

Prior Court Action (if any):
Date
Agenda Item #
Action Taken
03/08/2022
167.
Grant

Location: N/A
Address (if applicable):
Precinct(s): Precinct 2

Fiscal and Personnel Summary
Service Name
N/A

SFY 22
FY 23
Next 3 FYs
Incremental Expenditures (do NOT write values in thousands or millions)
Labor Expenditures
$
$
$
Non-Labor E...

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