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HomeMy WebLinkAboutCOUNCIL - AGENDA ITEM - 01/10/2006 - REVIEW THE TENTATIVE SCHEDULE FOR BUILDING ON BASI DATE: January 10, 2006 WORK SESSION ITEM STAFF: Diane Jones FORT COLLINS CITY COUNCIL Ann Turnquist SUBJECT FOR DISCUSSION Review the tentative schedule for Building on Basics (BOB)projects. GENERAL DIRECTION SOUGHT AND SPECIFIC QUESTIONS TO BE ANSWERED 1. Does Council have any feedback or direction for Staff regarding the tentative project schedule for implementation of the Building on Basics capital program? BACKGROUND In November 2005, Fort Collins voters approved the extension of a one-quarter cent sales and use tax for capital projects. The Building on Basics (BOB) capital package includes 13 projects totaling$56 million over the next 10 years. The BOB package is a pay-as-you-go program, with projects to be scheduled throughout the 10- year tern of the tax. Funds will be appropriated to construct the projects during each 2-year budget cycle. The ballot measure did not specify the schedule to be used in completing the projects and appropriations have not yet been made for projects that will be constructed during the 2006-2007 Budget term. The purpose of this work session will be to review the tentative project schedule for the BOB projects with Council before setting the appropriations for 2006. An appropriations ordinance will be prepared for Council consideration in February to provide funds for those projects which are scheduled to begin during 2006. Project schedules are reviewed every two years in the growth conjunction with the budget cycle. If recess adjustments are made depending on gr J g Y necessary, J eP in revenues and actual construction costs. All revenue and cost estimates are in 2005 constant dollars. Cash Flow Analysis and Scheduling Scenarios: Attached is a project schedule developed by Staff based on both cash flow over the 10-year period of the tax and the operational priorities of the various service areas. The schedule outlines the allocation of funds to each of the 13 projects between 2006 and 2015. Capital funds are allocated to projects in a pattern that allows planning, design, and/or Right-of-Way acquisition to occur in the year prior to actual construction. Seven years of operations and maintenance funding has been allocated to project as part of this cash flow analysis. Funding for on-going programs are allocated as cash is available, including funding for intersection improvements, library technology, park upgrades, Police Services CAD replacement, replacement busses, bicycle program improvements and pedestrian/ADA January 10, 2006 Page 2 improvements. O&M funding is provided for seven years following completion of the seven projects which will result in additional O&M costs. The schedule includes funding for construction of the Museum/ Discovery Science Center in 2006-2007 along with construction of Harmony Road improvements (design in 2006 and construction in 2007). By scheduling the MuseIm]/DSC project early in the building cycle, the benefits to Downtown can be realized sooner. The City and Discovery Science Center may also be able to take advantage of additional funding which might become available through the proposed "New Market Tax Credits" program if this project schedule is adopted. By working with the DDA on this Tax Credit program, an additional $3 million may become available for enhancing the joint project. Allocation of funds for the Harmony Road Improvements project will allow the City to use existing funds to address the serious safety concerns surrounding west Harmony Road and the Harmony/Shields intersection beginning in late 2006. The project would be completed in 2007. In addition, the Harmony/College intersection, a separate project, would be improved in 2008. Projects in this scenario are tentatively scheduled throughout the 10 years, including: Construction Museum/Science Center 2006-2007 Harmony Road Improvements 2006-2007 Lincoln Center Renovation 2009-2010 North College Avenue (design 2008)2011 Senior Center Expansion 2013-2014 Timberline Road Improvements 2014 ATTACHMENTS Building on Basics Cash Flow Analysis .., .. � cu A xc nc a' CD rn co o• c �. � a '"'� h sZpo s ^o ^, CD c CD rt,Er'• O n 0- �. O s" 00 •O was n MCD a(A CD ' n Z o «. � �,3° 3 � ._ CD e x.v. coll c < o cD ti c CD go A:< O CD CA CD CD 0 CD �.r N o (IQ J CD O� •� zrO O . 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