WS Item 4
Community Recreation Center
February 19, 2013
Presentation Purpose
Project History
Project History
Project History
Funding Options
Strategic Initiative Fund
SPDC
TIF
Property Tax
Sales Tax District (MDD/Type A)
Public Private Partnerships (P3s)
Proceeds from sale of excess land
Options
Options Summary
Option #2
Key Points
One election required
CCPD debt covered by General Fund subsidy
Facility opens = FY 2017
Debt required = $26.7m
Facility Opens
FY 2017
SRO program transferred to CCPD
CCPD debt expires
Facility Opens 2017
SRO program transferred to CCPD
CCPD debt expires
Crime Control Analysis
General Fund Analysis
ASSUMPTIONS:
CCPD debt subsidy
SPDC park maintenance pick up
Street Maintenance sales tax off-set*
SRO program funding
Recreation facility operational subsidy
Fund Balance draw down
*Contingent on a successful election
SPDC Analysis
Council Feedback
Options Summary
Community Recreation Center
Staff Recommendation
Key Points
One election required
CCPD self-supported debt paid off according to current timeline
Enhanced SRO program
Facility opens = 2019
Debt required = $23.7m
Facility Opens 2019
Option #1
Key Points
Two elections required
CCPD self-supported debt paid off according to current timeline
Limited SRO program
Facility opens = 2017
Debt required = $26.7m
Facility Opens 2017
Option #2
Key Points
One election required
CCPD debt covered by General Fund subsidy
Facility opens = 2017
Debt required = $26.7m
Facility Opens 2017
SRO program transferred to CCPD
CCPD debt expires
Public Private Partnership
Texas Government Code Sec. 2276.001
Timely acquisition, design, construction, etc.
Public need not satisfied by existing procurement options
Inadequate resources
Provide government “greatest possible flexibility”
Public Private Partnership
Southlake
AAA rating-lower borrowing rate
2.75% (city) vs. 6.05% (P3)
Increased financing cost est. $10.9M
Non-taxable vs. taxable bonds
November 2013 election
Reduce CCPD rate by ¼
Debt service requirements
School safety limited
FY 2018 significant reserves
Create 4A or MDD ¼ rate
Increase debt required ($25.0M)
Operational cost subsidy required
Property Inventory
Park Property = 467.76 acres
Other City Property = 103.84 acre
Total City Property = 571.60 acres
7 acres
Non-Park Property
Located north of the ground storage tanks
.77 acres
Park Property
Located next to DPS West
Previous site of Safety Town
12.829 acres
Non-Park Property
Current location of Sr Activity Cntr
3 acres
Park Property
Located east of Fox Hollow
3.323 acres
Park Property
Known as the Coker Trail Head in the Parks Master Plan
Property Summary
5 sites
26.922 acres
3 park property sites
Conceptual Planning
Bicentennial Park Master Plan
Community Recreation Center Facility
Indoor running/walking track
Fitness spaces w/cardio & weight
Gymnasiums/Multi-training spaces
Group fitness/exercise spaces
Indoor swimming: leisure
Children’s indoor playground
Arts and crafts rooms
Multipurpose programs spaces
Youth/Tweens activity spaces
Childwatch & PS/Early Learning spaces
Senior adult spaces
300 person community room/events hall
Catering kitchen
Administrative & Building Support space
Southlake Community Recreation Center
Floor Plan – Main Entry Level
Floor Plan – Lower Level