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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 Expenditures

$

$

$

Total Incremental Expenditures

$

$

$

Funding Sources (do NOT write values in thousands or millions)

Existing Budget

Bonds

$

$

$

Other

$

$

$

Choose an item.

$

$

$

Total Current Budget

$

$

$

Additional Budget Requested

Choose an item.

$

$

$

Choose an item.

$

$

$

Choose an item.

$

$

$

Total Additional Budget Requested

$

$

$

Total Funding Sources

$

$

$

Personnel (Fill out section only if requesting new PCNs)

Current Position Count for Service

-

-

-

Additional Positions Requested

-

-

-

Total Personnel

-

-

-

 

Anticipated Court Date: September 13, 2022

Anticipated Implementation Date (if different from Court date):

Emergency/Disaster Recovery Note: Not an emergency, disaster, or COVID-19 related item

Contact(s) name, title, department: Tina Petersen, Ph.D., P.E., Executive Director, Flood Control District

Attachments (if applicable): Agreement and Map