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City Council held its regular September meeting, along with the final public hearing on the FY 2023 budget and tax rate on Monday, Sept. 19, 2022. Mayor Kilgore and Councilmember Kumar were present via video through a majority of the evening. Here is a brief recap from that meeting:
CONSTITUTION WEEK
Mayor Pro Tem Gretchen Vance read a proclamation signed by Mayor Kilgore announcing this week (Sept. 17 - 23, 2022) as Constitution Week. Sept. 17, 2022 marked the 235th anniversary of the framing of the Constitution of the United States of America by the Constitutional Convention. Alice Scarbrough, Regent with the Lohmanns Ford Chapter of the Daughters of the American Revolution was present to accept the proclamation from Mayor Pro Tem Vance.
FY 2023 BUDGET ADOPTION
After a final public hearing, City Council voted (7-0) to approve the FY 2023 budget, which begins on Oct. 1, 2022. The City's FY 2023 revenue is projected to be around $17,659,712, with the approved total expenditures at $17,824,660. This would leave an estimated City fund balance of $6,179,200, placing the fund balance ratio at 35%, which is at the upper end of the City's 30%-35% targeted range. CLICK HERE for more details on the budget.
TAX RATE ADOPTION
After a final public hearing, City Council voted (7-0) to approve the tax rate at the No New Revenue rate of .1290, which is 17% lower than the previous tax rate of .1545. The new approved rate would save the average homeowner about $40 per year on their City property tax bill.
TUSCAN VILLAGE PUD
City Council voted (4-2 with Mayor Kilgore not present) on the amendment to Section 2 of the Tuscan Village Planned Unit Development (PUD) removing the 55+ age restriction for the cottages and half of the estimated 210 multifamily units planned for that land located just northwest of the Lakeway Police Department. The developer would also construct the four lane extension of Lohmans Spur extending from the police department into The Square at Lohmans property, which is already in development, along with a shared use path along that same section of roadway.
MAIN STREET TRAFFIC SIGNAL
City Council approved (5-0 with Mayor Kilgore & Councilmember Kumar not present) a cost-sharing agreement with the developer of The Square at Lohmans for the installation of a traffic signal for the future Main Street and Lohmans Crossing intersection (currently in front of The Hills entrance on Lohmans Crossing Road). The developer will design and install the traffic signal estimated at $400,000, with the City of Lakeway reimbursing the cost up to $200,000 and The Hills paying up to $100,000. The development is expected to be completed within the next few years.
'NO THRU TRUCKS' DISCUSSION
Councilmember Brynteson brought up a discussion about a thru truck ordinance and restrictions on heavy trucks through some of our local roadways. After discussion, staff will look into a potential speed study on Flint Rock Road, work with Travis County engineers in coordinating that and a heavy vehicle restriction, collect data for city hot spots like Bee Creek Road and Serene Hills Drive, and come back to City Council with a city-wide strategy to tackle heavy trucks and updates to the no thru truck ordinance.
CLICK HERE to view the full video and agenda from Monday night's meeting.
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