MEMORANDUM KEY TAKEAWAYS AND GUIDANCE

Transcription

1 MEMORANDUM T: Nick Casalanguida, Deputy Cunty Manager Frm: Heather Cartwright-Yilmaz, Sr. Operatins Analyst Date: March 18, 2019 Re: Bard Meeting Minutes Assessment Cllier Cunty Sprts and Special Events Cmplex Purpse: The purpse f this crrespndence is t prvide a histrical backgrund n the Sprts Cmplex items that were presented during BCC meetings the past tw years. The backgrund summarizes and highlights the items that were brught befre the Bard fr apprval and guidance received. Additinally, the memrandum identifies the prgress that has been made t cmplete the Cllier Cunty Sprts and Special Events Cmplex within the schedule utlined and financial scpe that has been directed by the Bard f Cunty Cmmissiners. KEY TAKEAWAYS AND GUIDANCE 1. Cnstructin Value estimated at $60-80 Millin a. Exclusive f sft csts (Design, Permitting, & Fees) 2. Initial Cntrl Budget was $87M a. Included hardening f Field Huse and public rad (-7$-10M) 3. Outdr Field Space is a higher pririty ver indr space a. Phase 2 t include dual purpse fields (Multipurpse/Baseball) b. Field Huse is Phase 3 Budget Cntrl 4. General Fund Wuld be used fr land acquisitin, O&M, and ptential ffset t cnstructin a. Future O&M will be partially ffset by fees and revenue sharing b. Lcal Access t residents is a high pririty 5. $3.75 Millin Limit n Debt Service a. Only Generated $65.5 Millin nt $70M b. Interest Incme +/- $1M anticipated due t phasing 6. Phase 2 Rad cnstructin cvered by Impact Fees 7. Naming Rights revenues pending t ffset gap 8. Hurricane Resiliency and sheltering needs t be Included in the Field Huse a. Sales Tax funds ($4-8M set aside)

2 Backgrund: The fllwing is a timeline f the Sprts and Special Events Cmplex items that have been presented t the Bard with fllw-up ntes belw: 02/28/2017 Agenda Item 11C Financial Feasibility and Site Feasibility Evaluatin Site selected and apprved fr financial evaluatin 03/28/2017 Agenda Item 11C Evaluatin f Financing Plan Financing reprt presented with directin t bring back ptins fr frmal cnsideratin cmpleted 06/13/2017 Agenda Item 11.A TDC Funding The allcatin and budget were adpted; the bnd validatin was cmpleted. Shrtterm financing was apprved fr the land acquisitin Prject scpe further refined 12/12/2017 Agenda Item 11.F The City Gate Land Purchase The Agreement fr Sale and Purchase and Lease Agreement with CG II, LLC fr the purchase and lease f prperty t accmmdate the future Cllier Cunty Sprts Cmplex, nt t exceed $12,142, /13/2018 Agenda Item 16.D.21 Manhattan Cnstructin Manager at Risk Selected Awarded Cntract N fr the Cllier Cunty Sprts Cmplex was awarded t Manhattan Cnstructin Inc., fr CMAR fr precnstructin phased services in the amunt f $195,527 03/27/2018 Agenda Items 9A & 9B DRI & PUD Amendments Apprved City Gate Phase 0 designs are cmplete, permitted, and under cnstructin City Gate Phase 1A cnstructin ready fr Bard apprval City Gate Phase 1B Under design and scping City Gate Phase 3 (Field Huse) n hld until CC305 Prject Phase 2 has been permitted and cnstructin apprved by the Bard 06/12/2018 Agenda Items 11B & 11.C Cncept apprved and Davidsn Engineering Firm Selected Bard directin given t include dual purpse fields in Phase 2 Awarded Cntract N fr the Cllier Cunty Sprts Cmplex was awarded t Davidsn Engineering Inc., fr prfessinal engineering services in the amunt f $4,854,383 07/10/2018 Agenda Item 16.F The Superlative Grup Naming Rights Firm Awarded Cntract N fr Cllier Cunty naming rights and spnsrship was awarded t The Superlative Grup Superlative is cntacting ptential participants 2 P age

3 09/25/18 Agenda Item 11B First Amendment t Agreement N with Manhattan Cnstructin Inc. Apprval t First Amendment t Agreement N with Manhattan Cnstructin Inc. (Phase 0) in the amunt f $3,199, fr the Cnstructin Management at Risk (CMAR) This phase includes clearing and grubbing, lake excavatin, and preparatry wrk fr the finish fields and vertical buildings Value added change t cmplete entire clearing and grubbing with an apprximate savings f $60,000 10/23/2018 Agenda Item 16.F Sprts Field Inc. (SFI) Marketing and Management Firm Awarded Cntract N fr the Cllier Cunty Sprts Cmplex Marketing and Supprt t Sprts Fields Inc., in the initial nt t exceed amunt f $50,000, fr marketing and related cnsulting services fr the Amateur Sprts Cmplex SFI design recmmendatins included int cncepts and final designs t imprve ROI and revenues per participant (REVPAR) MEETING MINUTES REVIEW: February 28, 2017 ITEM 11C - RECOMMENDATION TO EVALUATE THE SITE FEASIBILITY AND FINANCIAL REQUIREMENTS OF DEVELOPING A REGIONAL TOURNAMENT CALIBER SPORTS FACILITY AND TO PROVIDE GUIDANCE ON FUTURE ACTIONS -MOTION TO MOVE FORWARD WITH THIS ITEM, LOOK FOR FUNDING SOURCES THAT INCLUDE TOURIST TAX DOLLARS AND PRESENT FINDINGS TO THE TDC ON MARCH 27TH AND BCC ON MARCH 28 TH Apprved Nick C.: There'd be a General Fund cmpnent fr a buy-dwn we wuld talk abut, because there wuld be a lt f public use that wuld g int this as well Rb Hunden SUMMARY DISCUSSION n indr vs. utdr Indr has a much higher cst f cnstructin and higher perating & maintenance cst Make sure the facility is prfessinally managed Nick C.: Rb, crrect me if I'm wrng, but I think as I read in the reprt, the multipurpse fields are the highest demand. And as yu'll hear frm, I think, Mr. Berman frm FBU, if yu were t d a cmplementary side-by-side prject, yu might d the champinship venue laid ut with six r eight multipurpse fields, leverage what yu said, nly take dwn the back half f City Gate, then develp the baseball champinship n urs, s yu've gt smething yu culd start n fairly quickly that addresses the demand fr the multipurpse fields and that champinship venue, allw Cllier Cunty 305 t run its curse ver the next three t five years, take dwn the back half, and yu've gt bth the expansin prspect as well as sme immediate relief. And I think that's ur plan is t give yu a pure City Gate, a pure 305, and then maybe a hybrid apprach when we cme back as t smething in between. 3 P age

4 March 28, 2017 ITEM 11A - RECOMMENDATION TO EVALUATE THE FINANCING PLAN ASSOCIATED WITH DEVELOPING A REGIONAL TOURNAMENT CALIBER SPORTS FACILITY AND TO PRIVIDE GUIDANCE ON FUTURE ACTION -MOTION TO DIRECT STAFF TO PROCEED GATHERING ADDITIONAL INFORMATION AND RE-AFFIRM INTEREST IN INCREASING THE TOURIST TAX AND HAVE STAFF LOOK AT THE SCALE OF THE PROJECT Apprved Mark I.: I want t start by talking a little bit abut the issuance f debt itself because at sme pint in time when the numbers are revised and massaged, yu're ging t have t prbably issue debt smewhere between 60 and $80 millin, again, depending upn what the final numbers cme ut t be. June 13, 2017 ITEM 11A & 10B - RECOMMENDATION TO REVIEW OF THE UPDATED CONCEPTUAL SITE PLANS, COST ANALYSIS, AND FUNDING ALLOCATION PLAN ASSOCIATED WITH THE DEVELOPMENT OF A REGIONAL TOURNAMENT CALIBER SPORTS FACILITY AND APPROVE THE RECOMMENDED FUNDING ALLOCATION, PROJECT DELIVERY PLAN; AND DIRECT THE COUNTY MANAGER TO EXECUTE THE PLAN AS SUBMITTED OR AS AMENDED BY THE BOARD - TDC: MOTION TO APPROVE THE SPORTS COMPLEX AND THE 5TH PENNY TAX Apprved; THE MUSEUM ALLOCATION WILL BE DISCUSSED FURTHER PRIOR TO THE NEXT BCC MEETING; BCC: MOTION TO PROCEED WITH INCREASING TOURIST TAX TO 5% AND APPROVE THE SPORTS COMPLEX Apprved; FREEZE THE MUSEUMS AT THE 2014 RATE AND STAFF TO CONSIDER THE OPERATIONS WITH DIFFERENT CONCEPTS FOR REVIEW, ALONG WITH THE PROPOSED ORDINANCE TO BE REVIEWED BY THE TDC PRIOR TO BOARD ADOPTION Apprved Nick C.: it was imprtant t pint ut that Hunden came ut with a cuple key pints; They have ranked utdr facilities as first... We wuld review successful management marketing mdels While we dn't need a lt f mney up frnt, the revenues yu'd start t cllect wuld start t buy dwn the cst, s yur debt service fr the prject wuld be cntained. And then t meet that number f 60- t $80 millin, yur debt service fr 3.75 millin buys yu abut 50- t 55-. S, yu're lking at sme pay-and-g, sme cmmercial paper in there, and then, bviusly, if we can get sme naming rights t buy dwn the cst as well, t. Let me bring up anther chart. And yes, the questin is, is it ging t be 60 millin r 80 millin. We'll make that decisin befre we decide n executing the cnstructin cntract. COMMISSIONER SOLIS: The nly thing I was ging t add was, we're als talking abut phasing it. S, the cncerns abut the cst escalatins and all that, we can als deal with that in the prcess f cnstructing it as well, right? We dn't have t necessarily wait until the field huse, which wuld be the last thing cnstructed. But, I mean, we're ging t have sme flexibility thrughut the whle prcess. 4 P age

5 Nick C.: That's the whle pint f the way I've laid ut this prject is yu're ging t get a lt f visibility and a lt f flexibility t d this. Mark I.: Let's be clear. The -- there's a cmpnent f this that will be funded exclusively frm turist develpment taxes. Nick mentined that under the prpsed reallcatin frmula, that $3,750,000 will be set aside t pay fr debt service. There's n General Fund infusin in that. Nne. Zer. That's fr the vertical structure and the imprvements t the field and the related appurtenances, perid. Nw, there's a secnd cmpnent f this. Nick just mentined that during the curse f the week flks in Cllier Cunty are ging t be using this facility and, as a result f that, there's an expectatin that there will be a general crprate purpse, a General Fund infusin, f dllars t supprt the effrt. We're thinking that that wuld be the land cst; rughly $12 millin. And that wuld be due n r abut that 1 st f January f '18, depending n when the land deal is negtiated. Nw, hw d we d that? We can g ut and get cmmercial paper real easy fr $12 millin. That's separate and distinct frm the turist develpment tax cmpnent f this particular initiative. That's the General Fund's cntributin t this. Key Pints: Outdr facilities are ur highest pririty Cnstructin Value f facility estimated at TDC debt service capped at 3.75M General fund cmpnent fr land, O&M, and ptentially sme cnstructin Phasing used t manage the prject bth due t permitting and cst cntainment Naming rights used t buy dwn csts Facility t be accessible by ur residents March 27, 2018 ITEMS 9A & 9B DRI and PUD amendments t City Gate -MOTION TO APPROVE MODIFICATIONS TO ITEM #9A &#9B AS PRESENTED BY THE COUNTY MANAGER Adpted CHAIRMAN SOLIS: Okay. The ther questin I have -- and it just ccurred t me, and it was a cnversatin that Mr. Casalanguida and I had after the hurricane was that there was sme thught being given t hardening sme aspect f this fr maybe a specialneeds facility in anther event like a hurricane. And is everything that we're ding ging t allw fr that? I just want t make sure that Nick C.: Yes, sir. That's part f the final design. Whether it's special need, whether it's fr staff, we plan, when we bring the field huse cmpnent t the Bard, having an ptin t harden it. We'll have the cst identified then. And if the sales tax prvides that r the Bard wants t supprt that, we will build that int the prject. Sales Tax r General fund cnsidered fr field huse fr hardening purpses 5 P age

6 June 12, 2018 ITEM 11B STAFF S PRESENTATION ON THE STATUS OF THE SPORTS AND SPECIAL EVENT COMPLEX -MOTION TO ACCEPT STAFF S PRESENTATION, INCLUDING 4 DUAL PURPOSE BASEBALL/SOFTBALL FIELDS Cnsensus ROB HUNDEN: S in terms f the headlines, at this pint, while we believe that yu culd be successful in bth indr and utdr, utdr fields are the pririty and the greater pprtunity at this pint cmpared t indr curts. COMMISSIONER SAUNDERS: In terms f fur baseball diamnds there, I think what yu just said is that we can accmmdate that; yu wuld still have the fur multipurpse fields there, which we culd use fr turnaments, but yu'd have the flexibility f using the fur fields. There is sme extra cst assciated, but parking is nt ging t be a prblem, is what yu said. Fcus n utdr facilities and include baseball/dual-purpse facilities understanding sme additinal csts 6 P age