HomeMy WebLinkAboutMemo - Mail Packet - 5/8/2018 - Memorandum From Matt Robenalt And Kristy Klenk, Downtown Development Authority Re: Follow Up On Requested Information From Councilmember Cunniff - Multi Year Capital Improvement PlanDOWNTOWN DEVELOPMENT AUTHORITY
FORT COLLINS,
COLORADO
TO: Council Finance & Audit Committee
FROM: Matt Robenalt, DDA Executive Director
Kristy Klenk, DDA Finance Coordinator
THROUGH: Mike Beckstead and Travis Storin
DATE: April 30, 2018
RE: Follow-up on requested information from Councilmember Cunniff
At the April 16, 2018 Council Finance & Audit Committee meeting, Councilmember Cunniff requested
additional information on the reference made in Slide #2 of the presentation (attachment #1), to the “Multi-Year
Capital Improvement Plan”.
Items identified under the heading Multi-Year Capital Improvement Plan (2019-2024) include:
• Estimated 2019 and 2020 Priority Projects from the DDA 5-Year Investment Plan (attachment #2),
in the amount of $2,694,000 (adopted by DDA Board November 2015)
• Estimated 2020-2024 design, construction and operational maintenance costs in the amount of
$6,694,000 for four (4) additional enhanced alleyway blocks, and design costs for a fifth enhanced
alleyway block
• Uncommitted Discretionary funds for future projects and programs 2019-2024 in the estimated
amount of $18,000,000 which will be used for statutory eligible investments in the downtown area
likely to include:
• redevelopment of the DDA-owned former Elks Club property at 140 E. Oak Street into mixed-
use commercial and affordable housing
• future enhanced infrastructure identified in the Downtown Plan (e.g. gateway entrances, Canyon
Avenue, etc.)
• future public-private partnerships (e.g. facade improvements and improvements in the right-of-
way)
Attachments:
1) Slide #2 - DDA presentation to Council Finance & Audit Committee, April 16, 2018
2) DDA 5-year Investment Plan, Year 3, 2018
Purpose of why we are here:
Estimated LOC funding requirements per year 2019 2020 2021 2022 2023 2024 Total
Firehouse Alley Parking Garage IGA $300,000 $300,000 $300,000 $300,000 $300,000 $300,000 $1,800,000
Capital Asset Maintenance Obligations 463,500 477,405 491,727 506,479 521,673 612,324 3,073,108
Multi-year Reimbursement for Public/Private
Partnerships (DDA approved projects only)
753,863 798,851 772,270 640,489 640,483 600,487 4,206,443
Multi-year Capital Improvement Plan 2,271,109 4,145,079 4,642,952 5,097,950 5,450,322 5,788,170 27,395,582
Total $3,788,472 $5,721,335 $6,206,949 $6,544,918 $6,912,478 $7,300,981 $36,475,133
DDA and City Finance are preparing for DDA Board and City Council authorization to renew a revolving
Line of Credit:
established in 2012 with local bank
renewal term - six (6) years
increase the loan amount from $1,000,000 per draw to $5,000,000
Line of Credit is to fund DDA projects and programs
approved by the DDA Board and consistent with C.R.S. §31-25-807(3)(a)(II)
and the mission of the organization
2
*New or additional support
Project
Prioritized by Board Action October 8, 2015
2017
Uncommitted Discretionary Funds 678,050 1,166,242 2,283,947 1,698,529 3,616,184
Prior Year Interest Earnings and Project Savings 120,146 49,377 60,932 40,000 40,000
Total Estimated Annual Project Funding Available 798,196 1,215,619 2,344,879 1,738,529 3,656,184
Carryover from previous year ‐ 656,453 1,680,932
Total Available 798,196 1,872,072 4,025,811
Total Budgeted 1,872,072 3,990,811
Subtotal‐Funds Available for other Projects ‐ 35,000
Holiday Lights Contribution from Reallocation ‐ 35,000
Funds Available for other Projects ‐
Priority
Ranking
Phase
2016
Planned
Contribution
2016
Expenses
2016
Reallocation Phase
2016
Carryover
2017
Planned
Contribution
2017
Total
Budget
2017
Expenses
2017
Reallocation Phase
2017
Carryover
2018
Planned
Contribution
2018
Total
Budget Phase
Planned
Contribution Phase
Planned
Contribution
*1 Elks Lot: Concept Study for Site Development Concept Study 90,000 (47,477) (25,000) Explore Partnerships 17,523 ‐ 17,523 ‐ ‐ Explore Partnerships * 17,523 523,459 540,982 Pre‐Development
500,000 Construction 1,000,000
3 100 Block of S. College Avenue Alley Enhancement: south of W. Mountain
Avenue (incl. trash/recycle enclosures)
Design + Construction
Management & Documentation +
Outreach (Item 3 + 6)
400,000 ‐ ‐
Design + Construction Management
Create Fund for Construction of
Both Alleys in 2018
(original yr 2‐ $1,200,000)
536,000 1,135,924 1,671,924 (112,401) ‐ Construction
(Total Fund = $2,836,000)
1,559,523 1,564,076 3,123,599
4 Sculpture on Loan Program (OTS) First Year of New Program 16,000 (16,000) ‐ Annual Program 770 12,000 12,770 (9,303) 3,467 Annual Program ‐ 12,000 12,000 Annual Program 12,000 Annual
Program 12,000
5
Reinforce Programming in Old Town Square (Equipment for Movie Nights
in OTS, Visitor Generated Content Board, Little Free Library, Adirondack
Chair Summer Painting Program)
1‐Time Purchase of Movie
Equipment & Little Library, Annual
Programming
15,000 (11,034) ‐ Annual Programming 3,966 9,000 12,966 (8,938) ‐ Annual Programming 4,012 9,000 13,012 Annual Programming 9,000 Annual Programming 9,000
6 Old Firehouse Alley (East) Design & Construct Enhancement (incl.
trash/recycle enclosures)
Create Fund for Construction of
Both Alleys (Item 3 + 6) 136,000 ‐ ‐ Included in Item 3
‐
‐ ‐ ‐ ‐
7 Downtown Wayfinding ‐ use ‘tactical urbanism’ temporary intervention
techniques
Coroplast Wayfinding Signage +
Hiring an Intern
3,500 (3,155) (345) Signage: Layer 2 ‐ 3,500 3,500 (2,965) 535 Signage: Layer 3 Final Report ‐ 5,344 5,344
*8
Support Gateways Entrances: Mulberry @ Riverside; Linden Street @ New
Belgium; Mulberry @ S. College Avenue; Riverside @ E. Mountain, Poudre
River Trail Gateways into Downtown
‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ * ‐ 75,000 75,000 Funding Based Upon Partnership
w/City & CDOT ?
9 Support 2nd Generation of the Downtown Tree Canopy Coordinate w/City to Verify
Placement of Resources
‐ ‐ ‐ New Trees for Replacement Needs ‐ 3,500 3,500 ‐ ‐ New Trees for Replacement
Needs
3,500 3,500 7,000 New Trees for Replacement
Needs
3,500 New Trees for Replacement
Needs
3,500
11 Façade Grant Program: Increase Fund Balance and Pursue Target
Properties
‐ ‐ ‐ Deposit Funds into Program As Needed ‐ 20,000 20,000 (20,000) ‐ ‐ ‐ ‐ Deposit Funds into Program As
Needed
150,000 ‐
12 Increase Number of Bike Racks Old Town Square Bike Racks 20,000 (9,821) (10,179) Coordinate w/City to Identify Needs ‐ 4,195 4,195 ‐ ‐ 4,195 ‐ 4,195
13 Trimble Court Entrance Mural (under covered walkway) Active Feature Completion 5,000 (4,163) (837) ‐ ‐
14 Surveillance Camera for South Seating Area/Fireplace (OTS) Installation of System 6,000 (6,317) ‐ ‐ ‐
*17 Create Urban ‘Micro‐Space’ Design Plan Pilot Demonstration Plan 13,196 ‐ ‐ 13,196 ‐ 13,196 ‐ ‐ * 13,196 20,000 33,196 Concept Development 75,000 Implementation 300,000
18 Opera Galleria Interior Atrium Renovation (partner with O.G. condo
association)
‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ Design + Construction
Documentation + Outreach
450,000
*19 Street Outreach Team (annual funding) $10k from O&M, Additional
Funding
5,000 (5,000) ‐ $10k from O&M, Additional Funding ‐ 5,000 5,000 (5,000) ‐ $10k from O&M, Additional
Funding *
‐ 15,000 15,000 $10k from O&M, Additional
Funding
5,000 $10k from O&M, Additional
Funding
5,000
*20 Crime Prevention through Environmental Design (CPTED) project fund Concepts + Implementation 5,000 ‐ ‐ Concepts + Implementation 5,000 2,500 7,500 (5,587) ‐ Concepts + Implementation
* 1,913 32,500 34,413 Concepts + Implementation 2,500 Concepts + Implementation 2,500
21 136 South Mason St. Surface Parking Lot: Concept Study for Infill
Development
‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ Coordinate w/City on Future of
Lot
‐
24 Urban Lab (aka Partner w/City BNSF Railroad Track Urban Design
Enhancements / Mason Street)
UrbanLab Mason Corridor RR
Design Competition
3,500 (1,747) ‐ 1,753 ‐ 1,753 (1,180) 573 ‐ ‐ ‐ Funding Based Upon Partnership
w/City & BNSF
?
25 South Seating Area Shade Structure (OTS) Design + LPC Approval + Build +
Install
80,000 (1,755) ‐ 78,245 78,245 ‐ ‐ 77,070 ‐ 77,070
26 Additional Surveillance Cameras in Problem Areas ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ Identification + Install 25,000
27 New Ice Rink ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐
29 Green/Living Walls ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ Creation of Fund for
Partnerships 10,000 Year 2 Funding for Partnerships 10,000
31 Old Town Square Wayfinding Signs ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ Design + Install Permanent
Wayfinding
100,000
33 Outside Heating for OTS ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ Coordinate w/Business Owners ‐
36 Infrastructure expansion for more Holiday Lights ‐ ‐ ‐
Expansion not approved in City's 2017
budget; $20K to be used as portion of
DDA's $35K contribution
‐ 20,000 20,000 (20,000) ‐
*37 Create downtown land bank ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ * ‐ Monitor Market for Opportunity ? Monitor Market for Opportunity ?
*39 Support Partnership for Canyon Avenue Enhancements including
landscape median
‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ * 35,000 35,000 Funding Based Upon Partnership
w/City
?
40 Additional Public Restrooms (location not specified) ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ Coordinate w/City ‐
*41 Jack Benny Handprint Restoration ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ * 15,000 15,000 ‐
42 Purchase of Coordinated Tents for DBA Sidewalk Sales ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ Coordinate/Partnership w/DBA 10,000
43 Television/News Screen (in storefront or on building) ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ Coordinate w/Building Owners ‐
‐ ‐ ‐ ‐ ‐ ‐
798,196 (106,469) (36,361) 656,453 1,215,619 1,872,072 (185,374) 4,575 1,680,932 2,309,879 3,990,811 1,342,000 1,352,000
2020
Downtown Development Authority 5‐year Investment Plan
2016 2018 2019