Steven Glickman,
Chief Financial Officer
Unique amenities, innovative developments, nationally acclaimed events, internationally recognized brands, and more restaurants per capita than any city in the U.S., Addison is the destination in North Texas for fast-paced business and world-class fun!
A great place to start a business, start your career or start a family, Addison is DFW’s ideal destination to live, work and play. Designed with entrepreneurial innovation and driven by community spirit, our unique 4.4-square mile urban enclave boasts 180+ restaurants, 22 hotels, upscale living, unique retail shops and more than 12 million square feet of office space.
Addison combines the energy, vibrancy, entertainment and commerce of a large city with small town sensibilities, creating an easy-to-use, friendly and accessible environment. Our progressive growth is engineered to support and promote your personal and professional progress.
The Les Lacs Pond Improvement project was released for bid in September 2023 with no bid participation. Staff reissued the bid in January of 2024 and received only one bidder who was significantly higher than the consultants’ Opinion of Probable Construction Cost. There are currently numerous projects in the DFW region that are much easier to perform and have much higher gross profit margins
During negotiations with the bidder, all parties determined that the best course of action would be to separate the project into two smaller projects: pond liner replacement and landscaping. At its April 23 meeting, the Council approved an amendment to the Westra Consulting contract for them to develop two sets of plans. This process will take eight weeks to complete.
Over the next two months, Town staff will continue to negotiate with their single bidder on construction items related to the pond liner, including installing a clay liner and deepening the pond to eight feet. They will also solicit bids for dredging and sediment haul-off from an outside contractor. Once the two sets of plans are developed, the Town will bid the new project which will include all items in the landscape scope. This project will begin once the pond liner project is complete and is anticipated to take six months.
You can watch the Council's Les Lacs Pond Improvement Project discussion here and read the presentation here.
In February 2023, the City Council approved a request to rezone the first phase of the Addison Transit-Oriented Development (TOD). At that time, the Council also approved development plans for several components of the project. Since that rezoning action occurred, the project team has changed, resulting in Quadrant Investment Properties (QIP) serving as the new co-developer for the office component of the project. At its April 23 meeting, the Council approved the co-developers request to amend the Planned Development (PD) Ordinance to adopt a revised concept plan, master streetscape plan, permitted uses, and development standards for the first phase of the Addison TOD, as well as new development plans for the office building, parking structure, and multifamily tower components of the project.
You can watch the Council's TOD development plan discussion here and read the presentation here.
The Council also approved 99-year ground leases with AMLI Residential Partners for the development and operation of the two mixed-use residential buildings and three stand-alone retail buildings that are part of the first phase of this project.
You can watch the Council's ground lease discussion here and read the presentation here.
The Fiscal Year (FY) 2024 budget was adopted by Council on September 12, 2023. Each year, Finance staff reviews the budget to determine which items should be recognized with formal budget amendments. When budget variances occur that are outside the authority of the City Manager, these adjustments are presented to the Council in the form of a budget amendment.
The City Council approved the first FY 2024 budget amendment during its April 9 meeting. Notable changes include reallocations within the General Fund due to a compensation market study, increased funding for Parks Department personnel and equipment, agenda management and strategic planning software for the city manager's office, and police vehicle upfitting. Additionally, adjustments were made in various funds to address prior year encumbrances and accommodate grant receipts. The amendment aims to optimize resource allocation and support ongoing projects across different departments and initiatives.
You can watch the Council's budget amendment discussion here and read the presentation here.