FARMERS BRANCH ~ Officials with the 35Express group have extended nighttime closures of Valley View Lane under Interstate 35E until Monday, July 7.

   Construction crews close the intersection to affect work on the overhead bridge and support during the nighttime hours of 9 p.m. through 6 a.m.

   Officials said they would not close the intersection Thursday night, July 3 in order to allow better traffic flow after the Farmers Branch Independence Day celebration.

   More info at www.35express.org.

 

    

 

FARMERS BRANCH ~ From the creative eating of pies to the firing of fireworks in the skies, the 2014 edition of the Farmers Branch Independence Day festivities promise music, merriment and lots of red, white and blue.

   The event is set for Thursday, July 3 at the Farmers Branch Historical Park. Gates open at 6:30 p.m. and admission is free. Blankets and lawn chairs are recommended for lawn seating.

   A concert by "Groove Knight," returning to Farmers Branch for this event, will begin at 6:45 p.m.

   New to the Farmers Branch Independence Day festivities this year will be an old-fashioned Pie Eating Contest, sponsored by Uncle Willie's Pies, with proceeds benefitting military charities. Held on stage at 7:30 p.m., the contest will feature two divisions: Youth (ages 8-13) and Adult (ages 14 and up). Entry fee is $10. Anyone can pre-register at www.unclewilliespies.com or at the pie tent on the day of the event. 

   Then, the seasonal sparkle of the traditional fireworks show will cap the evening, just after dark, at about 9:30 p.m.

      The Farmers Branch Historical Park is located at 2540 Farmers Branch Lane, between Denton Drive and Ford Road. Free parking will be available at the Metrosquare Business Park, two blocks south of the Historical Park on Ford Road, with a free shuttle to the gate. The Historical Park is also a short walk south from the Farmers Branch DART Station on the Green Line. Call 972.919.1433 or visit fbspecialevents.com.

 

    

Mayor Bob Phelps

FARMERS BRANCH ~ Six years after retiring as the longest-serving Mayor in Farmers Branch history, Bob Phelps returned to the Mayor's office, winning the runoff election for the seat while Councilmember Harold Froehlich won re-election to his seat for District 2. 

   Phelps and Froehlich were both sworn-in during a special meeting of the City Council on the last day of June, where votes from the runoff election were canvassed. 

   Following the inauguration, Councilmembers Jeff Fuller and Kirk Connally were selected to return to their positions as Mayor Pro Tem and Deputy Mayor Pro Tem.

   A brief reception for Mayor Phelps and Councilmember Froehlich was held after the meeting. 

   Mayor Phelps was first elected to the Farmers Branch City Council in 1986. He became Mayor in 1996, serving until 2008. This is Mr. Froehlich's third term on the City Council.

Bond rating agencies assign Farmers Branch 'AA+'

FARMERS BRANCH ~ In anticipation of a bond sale to fund the new joint public safety dispatch system and the voter-approved 10-year street improvement project, bond rating agencies Fitch Ratings and Standard and Poors have both assigned Farmers Branch the highly sought-after 'AA+' bond rating. 

   The City plans to sell $13.8 million in General Obligation bonds later this month, after voters passed $23.5 million for street improvements earlier this year. At the same time, the City will offer $1.9 million in Certificates of Obligation to fund the joint public safety dispatch center project, being orchestrated with the Town of Addison and Cities of Carrollton and Coppell.

   Fitch observed that Farmers Branch "maintains a strong financial position, characterized by solid reserves and stout liquidity. Operations are supported by a fairly diverse revenue base that has benefitted from rapidly rebounding sales tax revenues, despite recent recessionary pressures.

   Management's conservative fiscal practices and policies have enabled break-even to net surplus operations over the last five fiscal years." 

   In noting the City's "mature neighborhoods," Fitch added that this is an evolving situation, "with typically higher-end infill projects that benefit from the city's strategic development plans, such as the recently developed condos and homes near the city's existing DART station." 

   Standard and Poors cited the City's "strong economy, very strong budgetary flexibility, very strong management and strong institutional framework" among the factors contributing to the 'AA+' rating. 

   The S&P ratings report says "citywide sales tax collections have shown healthy growth, increasing 26 percent since fiscal 2010, reaching $13.7 million in fiscal 2013." 

   "We consider Farmers Branch's management very strong," the report continued, "indicating managerial practices are strong, well embedded and likely sustainable." 

   Both Fitch and Standard and Poors noted the City's historically conservative debt program, with a debt burden of about 3.5 percent of assessed value and rapid amortization with a majority of the debt due to mature in 10 years. 

Check the latest weekly report on the five-year reconstruction of Interstate 635 that includes:

Check the latest information on the 28-mile, $1.4 billion reconstruction of Interstate 35E from LBJ, through Farmers Branch, to U.S. Highway 380 in Denton County.