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HomeMy WebLinkAboutPACKET Town Board Study Session 2006-05-1717.6 , ' ~6Wmb>\ TOWN BOARD STUDY SESSION WEDNESDAY, MAY 17, 2006 2:007 5:30 p.m. I '. » i BOARD ROOM f ' I r . 6 ¥ 170 MacGregor Ave. c - 4 € 1 . I C *; AGENDA 1 . f ....... 7 4 6. r. 1. --r e 1. THE PURPOSE OF THE MEETING IS TO UPDATE THE TRUSTEES t € I . S ON CURRENT PROJECTS. , r 1. * % I 4- 4 6 No decisions will be made and no public comment will be taken. 90-/ 3 + ' , %® hp LaserJet 3015 ~ i I. A HP LASERJET FAX invent May-15-2006 8:18AM Fax Call Report Job Date Time Type Identification Duration Pages Result 683 5/15/2006 8:13:37AM Send 5869561 0:37 1 OK 684 5/15/2006 8:14:20AM Send. 5869532 0:47 1 OK 685 5/15/2006 8:15:12AM Send 5861691 0:52 1 OK 686 5/15/2006 8:16:09AM Send 6353677 0:49 1 OK 687 5/15/2006 8:17:03AM Send 5771590 0:57 1 OK h t 4 i t 1-/f Town of Estes Park Board of Trustees Goals Study Session May 17, 2006 Agenda ' Review 2004-06 Goals ' Stanley Park Theatre concept • Financial Plans • Fire District • Misc. 1 . i ' Town of Estes Park 2004-2006, Goals 2004-2006 Final Report / 2004-2006 Goals • Develop an economic vision which recognizes and supports the existing economic component of tourism; looks at future opportunities for diversity; and creates an overriding plan or strategy for future economic development. i - Status • Estes Park 2017 developing vision statement • Working with RRC to finalize assessment • Economic vision/strategy adopted by Town Board March 14th IBM , 2 f 2004-2006 Goals ' Create a master facility and land use plan. - Develop criteria for use of Coinmunity Reinvestment funds. ' Developed list of facility & capital projects • Adopted financial plan - Based upon priorities - Financial plan created for General and Community Reinvestment Funds - Develop target fund balances ' Plan completed and delivered to Town Board June 28, 2005 IMU 2004-2006 Goals • Successful evolution of the CVB, and reinvestment in rehabilitation and renovation of the visitor center. - Selected Visitor Center Architect - Toured other facilities - Finalized Building Plans - Grand opening April 7,2006 - Parking lot completed IMU 3 2004-2006 Goals • Continue EPURA for a new term beginning in 2008 as a planning and implementation tool for community improvement and economic enhancement. - Team met with Town and EPURA Attorneys - Consulted bond attorney - Developed findings for board consideration EPURA Goal Team findings EPURA has been an effective econoinic developihent mechanism Continuation could benefit the Town and coinmunity. - Continuation could be accomplished: e Contingent upon newldgiklation, or • Following a new blight study, plan and hearing • The decision should be deferred to the 2006-08 Town Board Igu 4 2004-2006 Goals • Prioritize implementation plans for transportation and parking improvements. - Explore transit opti6ns • Pilot shuttle project summer 2006 - Increased Bighorn -Drive parking - Cleave Street redesign - Parking expanded at CVB • Town and EPURA - - Add Clancy system for data 2004-2006 Goals • Create a Stanley Park (improvement) implementation plan. - Firm selected to create master plan - Interviews conducted with area residents, customers and staff - Master plan adopted April 2005 - Improvements began October 2005 5 Stanley Park Fairgrounds 199? 1 <t tair" + - 11*4*4 . 0 '1 Ft·b- I~ i,r »44&4, 4,2.' 4.jl~ .4 rb ' 4 ,> - C ~, 5*0 9 - - -4=4't'. . . .. - i I 1W,F~, ~ 1~ -I / 000; . .% ./ -f. - IP >.. 4 4„*N %; , ~=.-=.23»*t~&14,1~62. . -lk» D#, '24 -0 2,21? ~4%#JOVP . . Stanley Park Master Plan 0--7-7-- f.131 7 ..<%<k . -16*1 -42:.7-m 6 9. f f Stanley Park Phases - . F - -Cal·-2.. 7 1/U Stanley Park to-date • Drainage improvements • Arenas re-constructed e Utility improvements 1.U 7 Stanley Park May 2006 1 -' I - 0~ka·ii-:·tpr. ' * 0 . 11. ¥ I/U 2004-2006 Goals . Finalize feasibility options for building a performing and visual arts center. - Original plan deemed too costly (losses of $250K inin) - Considered options • Smaller facility, same location • Shared facility with High School • CACEP proposal • Private/Public venture • Stanley Park facility - Stanley Park plan under consideration I/U 8 Stanley Park Theatre . Study Group formed late 2005 • Prioritized facility amenities • Thorp design - Estimate $3M construction budget • AMS pro forma - Draft received May - $212K operating deficit - Stanley Park Theatre e Next steps - Construction financing • Certificates of Participation (COPS) • General Obligation debt - Election required - Operations I Snldy • $118K revenues • $331K expenses • Subsidy from General ~ Fund 9 A . 1!11] ' t. 10 I 1. Stanley Park Theatre Feasibility Study Pro Forma study by AMS Planning & Research Revenues • Rental Income: $51,315 • Theatre rentals • Charge-backs & Cost Recovery: $32,663 • Pass through costs for staff and contract labor • Ticket sales: $17,640 • Town-sponsored "presented" touring events • Concessions: $6,494 (net) • Box Office Ticket Sales: $10,824 -= • $1 surcharge/ticket sold 1 Expenses • Staffing ($197,563) • 2 FTE's and $1,500 for PT • Admin ($17,625) • Programming ($32,400) • Artist fees, production & marketing costs • "Six presented touring.shows" per year Expenses • Occupancy ($67,885) • $5.19/sq. ft. • Utilities • Maintenance contracts • Insurance • Contingency ($15,774) • 5% allowance • Total: $331,246 2 .-*97*'@47»-. · · ·· .. Stable ~rear (Estimate year 3) Operating Revenues Rental Income $ 51,315 Chargebacks & Cost Recovery $ 32,663 Ticket Sales $ 17,640 Concessions (net) $ 6,494 Box Office Ticket Charges $ 10,824 Total Operating Revenues $ 118,936 Operating Expenses Personnel $ 197,563 Administrative Overhead $ 17,625 Programming $ 32,400 Occupancy $ 67,885 Expense Contingency (5%) $ 15,774 Total Operating Expense $ 331 247 Income (Loss) from Operations $ (212 311) ~ Other (pg 4) • "...findings are equivocal at this point...but indicate a real opportunity for the Town..." • "Presented" shows • Triple Espresso • "Licensed" shows • Shear Madness • Playmill Theatre ~'~ • West Yellowstone, MT 3 Now What? • Finalize draft AMS study.for submission to CDC • Staff prepare financials • Construction budget • Funding options • Operations budget • Deficit subsidy from general fund Construction • Construction Financing · • Certificates of Participation (COPS) • General obligation debt • Requires voter approval 4 Discussion • Other considerations • AMS study • CDC • June 1 at 8:00AM • Other issues • Lot 4 Sa le • School District facility assessment ~'~ Funding... • Financial Resources • Finance Director McFarland • Next... 5 . -h 6 Estes Valley Rural Fire Protection District 1 1-w/- 2*,2 Current Services • Town provides fire protection services to Town and Other Protection Area (OPA) - OPA = areas outside Town limits *,4 f ly' 41 District Status • Board of County Commissioners Hearing May 22nd • "Firewise Coalition of the Estes Valley" • Draft IGA - Split annual costs based upon share of assessed valuation - Current estimate of 60/40 split (Town/District) Fire Dept Issues • Operating costs - 1998: $266K - 2005: $367K • 38% - Capital • Truck costs escalating • Dive truck: $110K (2005) · Rescue truck: $277K (2003) -*13:~57.IMA • Pumper/Tender: $225K (2000) ~/I,I~j~~~~ 0. Fire· Dept Fundraising down...costs up A A i --+- TOI. Exper.1- *7"1444- . + V Expenditures & General Fund i 1 + Total Exp,rdnum• m \ /7 \\ -/- Fke d,0 •*Fordlum, - 96 4 l i - Genwal Fund R,v,nue, -St v - - ~ i , 0/lis"~Fli• Fire Dept Expense Trend A A - "0· Trendine t -- ' Total Expenditures -Unear ( Total Expencitures) -45/Fo, Firefighter Hours 9000 8000 - 7000 5000 A . -*pon,/Hours - r -......... 4000 ~ 1- - T.al houi. 3000 - - 2000 -Wi-':=5,-I,=~ 1000 ~ 1997 1998 1999 2000 2001 2002 2003 2004 200f~ 4 Per Ca,T•limpact ... 00 .0 .... 0 0. 21 0. 1 00 0 0. ..: -1. 0.' -00€ I., I--- li Town's Role • Provide support to FCEV • If election fails... - Options • Reduction in service levels in region, or • Discontinue OPA - - * 1 g g N , a g- 2 R * 1 6 - , d ..1 2 2 2 * 9 9 2 -= W 00 ¢9 2 - # 2- *1- r.1 1 1 13 RE* .. R * 11 EH* 4 4 - -rt ..1 I ® , g 6 52 0 22 '0 B 2 ZI- 2 1 : 21 -* 4 1 4 ZO 1 - 2 I 1 r E.55 E - N . 5- = 4 J ZI $ 2 1 BEGINNING BALANCE 5.626.907 2,670 3,489,961 3.362,538 3,266,045 3,114,657 2,955,638 2,659,338 13 TOTAL REVENUES 10,044,800 10,113,510 10,728,772 11,020,425 11320,185 11,627,654 11,944,032 12,264,522 34 TOTAL EXPENDITURES 6,805,137 7„323,093 7,441,595 7,662,518 7,887,473 8.120,573 8,489,732 8,738.855 43 TOTAL TRANSFERS OUT 2,528,410 2,773,126 2,814,600 2,854,400 2.984,100 3,150,600 3,237,500 Ending Balance before CRF Transfer (L/+L/3-L34-L43) 6,338,160 839,961 3,962,538 3,866,045 3,714,657 3,555,638 3,259„338 2,947,506 Ending balance - minimum balance (L48-1,45) 519,638 112„338 (274,494) 966'I88 96tLM 961'+18 96I'IBL 96*'85Z'I 96Z'IOI'I 081'SIE 588'869'1 aiuilia 811!uu!828 I 966'LI6 96 I'tiN 96¢85 Z' 1 96T'101'1 08 I'GIE 23Uulug NUIPU11 Minimum Balance (30% of 1,34) 2,042,000 197,000 2,232,000 2„366,000 2,436,000 2,547,000 2,622,000 000'9E9 009'4£9 Oot'£19 008'0~9 0(Z'ZLZ'I 000'99 I'Z 56£'LZG'Z Slf™3{AIH 1¥101 9 0'009 000'GII'I 188'6£¢ 1 005'//6'f Siliallaka.D,3 1V1O1 It Amount Available for CRFTransfer (L44445) 4,296,160 ~ 2,642,961 1,730,538 1,567,045 1„348,657 1,119,638 712338 89,961 2,955,638 2.659338 2 7 000'009 000'oos 000'005 000'005 000'005 (l,Mod p.„•06 UA,01 Jad) aoue,Ies mnu,luiw Projected (per B&V/bond industry test standards, rate on how well we follow financial plan - can dip below if recover-extend plan?f 47 Transfer to CRF 1,350,000 COMMUNITY REINVESTMENT FUND Revised Projected Descriotion 9 1¥ 5/17/2006 GENERAL FUND AND CRF ADJUSTMENT WORKSHEET STATEMENT OF REVENUE, EXSPENSES AND FUND BALANCE Descriotion =22-*2005 5/17/2006 · GENERAL FUND AND CRFADJUSTMENTWORKSHEET • ' STATEMENT OF REVENUE, EXSPENSES AND FUND BALANCE 1 I Line Estimated Budget Reviled 7 ixiget Revised ' ~ 1 | Prolected DZ=dulit/ 2.2Qi 11112 mi 12 al 22 im all inflati.in 4% S $ S $ $ S $ $ S $ 1 lintrest Rate 1 Beginning Balance 7503.984 5.529,133 5.626.907 4.812.670 4,822*70 3.489.961 32162338 3,266,045 3.114.657 2 955.638 2.659338 Revenues I Tax:s .: , '. 2 Sales 6,429,195 6,456,208 6,456,208 | 6,649,894· 6.649,894. 6,849,400 7,054,900 7.266.500 7,484,500 7,709,000 7,940,300 3 Property 493,720 469,834 469,834 490,655 490,655. 505,400 520.600 536,200 552,300 568,900 586,000 4 Franchise 400,100 419,240 419,240 436.562 436,562 449,700 463,200 477.100 491,400 506,100 521,300 5 Licenses and Permits 491,244 653,123 653,123 525.575 525,575. 541,300 557,500 574,200 591,400 609,100 627,400 6 Intergovernmental 1 31 698,517 486,976 486,976 , 487.847 ·487,847 502,500 517,600 533,100 549,100 565,600 582.600 7 Charges for Services 35,193 47,605 47,605 45.564 '45,564, 46,900 48,300 49,700 51,200 52,700 54,300 8 Fines and Forfitures 21,600 23.003 23,003 ' fi 22,872 22,872 23,600 24,300 25,000 25,800 26,600 27,400 9 Current (Rental) 238,481 168.807 168,807 169.128 169,128 174100 179,400 184,800 190300 196,000 201.900 10 Interest 31,178 50,548 50,548 +51.053 51,053 285,900 285,800 285,400 283,800 282.100 274.900 11 Miscellaneous 298,844 290.576 290,576 266,627 266.627 274,600 282.800 291.300 300,000 309,000 318,300 12 Transfurs from L./Pand Water 900,181 978,880 978,880 .967,733 967.731' 1.075.272 1.086.025 1,096,885 1,107,854 1,118,932 1.130,122 13 Total Reveomes 10,038,253 10,044.800 10.044#00 , 10.113,510 410,113.510 10,728.772 11.020.425 11.320,185 11,627.654 11.944.032 12,264.522 Expendit,res r./. * 14 Legislative 95,259 126.872 126.872 •' ',154,225 154.225 158,900 163,700 168,600 173,700 178,900 184,300 15 Judicial 37,505 37.595 37,595 © 39,856 39,856 41,100 42.300 43,600 44,900 46,200 47,600 16 Executive 298,160 353,781 353.781 t 341,016 341,016 351,200 361,700 372.600 383,800 395,300 407,200 17 Elections 10,435 9,050 9,050 6,986 6.986 7,200 7,400 7,600 7.800 8,000 8.200 18 Financial Administration 182,346 211.355 211.355 231,§61 231.861 238,800 246,000 253,400 261,000 268,800 276,900 19 Community Development 349,216 388.725 388.725 419.203 419,203 431,800 444,800 458,100 471,800 486,000 500.600 20 General Government Buildings 356,220 388,824 388,824 436,234 435,254 447,300 460,700 474,500 488,700 503,400 518,500 21 Employee Benefits/Insurance 26,100 26,100 26.100 .22,100 22.100 22,800 23,500 24,200 24,900 25,600 26,400 22 Conununity Services (4) 444,833 435,MS 435,345 453.865 453,865 336,295 344,118 349,473 356,473 492,832 501,855 23 Advertising 2,175,240 2,175,240 . 1434,720 2,434,720 2,507,800 876,113 - - - - 24 Police 2,260,595 2.583.000 2.660.500 2,740,300 2,822,300 2,907.200 25 Fired) 541,213 477,0I0 477,010 427,735 427,735 440,600 453,800 467,400 481,400 495.800 510,700 26 Protective Inspection 214,229 264,058 264,058 276,126 '276.126 284,400 292,900 301,700 310,800 320,100 329,700 17 Engineering 67,956 81,497 81,497 114,810 ·114,810 118,300 121,800 125.500 129,300 133.200 137,200 28 Streets 698,275 843,788 843,788 1 1,095,1yl ., 1,095.107 1,157.700 1,192.400 1,228,200 1,265,000 1,303,000 1.342,100 29 Sanitation 47,000 53,500 53,500 53,500 53.500 55,100 56,800 58,500 60.300 62,100 64.000 30 Parks 559.461 783.223 783,223 734,521 ., 734,521 756,600 779.300 802.700 826,800 851,600 877.00 , 31 Visitor Services 197,356 32 Economic Development 146,941 149,174 149,174 83,208 83108 85,700 88,300 90,900 93,600 96.400 99,300 33 Group Sales & Marketing 69,257 - 34 Total Expenditure, 7,478·410 -638137 -6363337 -732303 -738,M -Em]95 -33idii -7#7373 1329395 --8339,82 -i3*i Trausfer,0. 35 Contingencies 228,796 228,796 231,044 238,000 245,100 252,500 260.100 128,500 120,000 123.300 100,000 !00,000 86,000 50,000 51,500 53,000 54.600 56,200 36 Museum ]66,781 1231,044 267,900 275,900 37 Conference Center 94,904 - - 38 Special Events 395,595 39 Senior Center 120,730 116,314 1]6,314 141,082 141,082 143,300 149,700 154,200 158,800 163,600 168,500 40 Convention Visitor Bureau - 1,650,000 1.700.000 1,800,000 1,800.000 1,854,000 1,909,600 1966,900 1025.900 2.086,700 2,149,300 41 Vehicle Replacement 143,038 160.000 160,000 176.000 176.000 181,300 186,700 192,300 198,100 204,000 210,100 42 Urban Renewal Autholity (1) 101,212 200,000 200,000 200,000 200.000 200,000 200,000 250,000 250,000 250,000 250,000 Transportation (2) -125,000 125.000 Ito.000 113,300 116,700 120,200 123,800 127.500 43 Total Transfers 1,150,760 2.475.110 2.528,410 . 2 773.I26 1773.126 2.014.600 2,854,400 2384.100 3,066.100 3.150.600 3.237.500 44 Ending Balance before CRF Transfer (LI+L;343+Le) 8,913,007 6.293.686 6338,160 4.839,961 - 4.839,961 3,962538 3.866.045 3,714,657 3.555.638 3,259.338 2.947306 45 Minimum Balance (30% of L.34) 2.244.000 2,042.000 2.042.Of)0 2 197.000~ .2.197,000, 2232.000 2399.000 2.366.000 2,436,000. 1641.040 2.621000 (per B&V/bond industry test standards, rate on how well we follow financial plan - can dip below if recover - extend pin?) 46 Amount Available for CRF Tral,sfer a,44-L43) 6.669.007 4.251,686 4.296.160 2.642.961 2.642.961 1,730338 1.567.045 1348.657 1,119,638 712.338 325.506 1.1. 47 Transfer to CRF 3.383*74 2.155.795 2,155,795 1350.000 1.350.000 600,000 600.000 600.000 609.000 600,000 600.000 •• projected surplus from 2005 640.305 48 Ending Balance (144-L,7) 5.529,133 4.137.891 4.822.670 389.%1 3,489.96 1 9 3362.538 3.266.045 3,114.657 2.955.638 2.659.338 Ending balance - minimum balance (L48-1.45) 1.292.9611 1,130,538 %7,045 748.657 519.638 112.338 (274.94) Total GF Expenses 12,013,104 11,436,042 11,489,342 11,446,219 11,446,219 10,856,195 11,116,918 11,471,573 lt,786,673 12,240,332 12,576,355 11)- assumes new ]GA in 2009 (2) - contract Of 198,870 4 contingency „ --r 13) . fire district revenue not included 1 1 (41-5%ofialestax 15} - fire dianct expenoes not included COMMUNITY REINVESTMENT FUND . i Line Estimated Budget Revised --li/iii 4 Revised --1| Prolected 1 Unmulan 221 171% ¥ al ' 2 1 am 1 21 22 1292 2910 ntt nu • $ i.$3 $ S $ S $ $ , . 1 Beginning Balance 1.698.885 '315,180~ 1.101.296 1,258AN 782396 814.196 847.396 .1.996 REVENUES 2 Intergovernmental Grant - 341,000 ' im,0002 '60,0001 - - 3 interest 2,778 31.000 ! 31.000 i , 31.0001 47,200 40,800 31.900 33,200 34,600 36,000 ' U. j '625.000~ 625,000 4 Miscellaneous (Lot 4 - 5 Transfers from General Fund 2,155,795 2.155.795 1,350,000 1.350,0* 600,000 600,000 600,000 600,000 600,000 600,000 6 Total Revenues 2.158373 2,527.795 1,541,00,1 2,166,000~ 1,272,200 640&00 631.900 633.200 634.600 636.000 EXPENDITURES - CIP Facilities 7 Stanley PaA Master Plan Improvements 650,000 600,000 - . 850,000'~- -~ 850,0~1 500,000 500,000 300,000 500,000 500,000 500.000 I 8 Stanley Park Lot 4 I=ase Payments 96,357 Site prep - theater 1 1 300.000 300,000 9 Convention Visitor Bureau 1.070,000 1,775,000 + 50.000 ' il . - I ., Fkilifte, Adjultment 10 Total Facilitie, 1.816.357 1 2.375.000 , 900,000 850,000{ 800,000 800.000 500,000 500,000 500.000 500.000 Parking/rr= 11 CVBParking/Park Shop 250.000 ; to.000, 40,0001 12 Convention Center Lease 217,837 217,837 13 Museum Phase 2 14 Muncipal Building Remodel - L.~' ~ 214. ~ • ' 214.;14 2[5,000 217.000 Parkia,Trins Ad lu,iment 15 Parking/Tra-Total 217.837 467,837 • 254.884 '254,8841 215,000 217,000 - - Trails 16 Trails - 669.529 4 160,000 160.0004 17 All Other 130,000 399,134 ~ 65.000 Its.11 100.000 100,000 100,000 100,000 100.000 100,000 Trsils Adju,iment 1 18 Trails Total 130,000 1.068,663 P 225.000' - ' 275,000 9 100,000 100,000 100.000 100.000 100.000 100,000 1 L 19 TOTAL CIP 2.164.194 3,911300 ~ 1.379.884 4 1.379.884~ 1.115,000 1,117,000 600,000 600.000 600,000 600,000 20 STREET OVERLAY 875,000 Street Overl,y Adjustment k : - ' 4 21 Totil Expenditures 3.039,194 3.911,500 1 1379184 1,379.8841 1.115.000 1,117,000 600,000 600.000 600.000 600,000 22 Ending Balance 1.698.885 818.264 315,100 1 ':476,296 :1,101.296~ 1358.496 782.296 :14,196 84·7396 881.996 917.996 23 Minimum Balance (per Tow, Board policy) 500.000 500.000 500.000 500.000 500.000 4 500.000 DETAILS Unspecified Stanley Park Revitalization 30.000 - ~- 1 -% Site prep- theater 300,000 300,000 Stanley Palk Phase I - 50,000 CVB Building Phase 1 - 60,000 CVB Building Phase 2 . · 50,000 50.000 CVB Park Shop Demo - - 250,000 ~ 40,000' 40,000 Stantey Park Phase 2 - -, 5.. ) Stanley Park Master Plan 40.000 - - :1 CRF Financial Plan Study 9.800 - Total Professional Services 79.800 110,000 250,000 2 90,000 ' .90,000 300,000 300,000 - Rentals Unspecified 1 Stanley Lot 4 L.eas¢ 101,484 96,357 Conference Center L.ease 211,182 217,837 217.837 214,884 214,884 215.000 217,000 Total Rentals 312,666 314.194 217,837 214,884 -214,884. 215,000 217,000 - 0&M 21,786 90.000 262,084 . ;3.000 55,000 Materials and Supplies - Citrit/1 - Buildings Unspecilied - 10.050 - Stanley Park Phase 1 - 600.000 600,000 4..: Stanley Park Phuse 2 - 500.000 500,000 500.000 500,000 500,000 501).001) -2020 - ay,o~ Museum Phase 2 305,000 - - E1 Muncipal Building Remodel 491,261 - - L Fish Ilatchety 25,000 CVB Building Phase 1 - 810,000 1,515,000 h CVB Parking Phase 1 - 200,000 200,000 Fall River Picnic Shelters - 40,000 40,000 A- 21 -4 Total Buildings 821,261 1,650,000 2.365,050 850,000 850.000 500,000 500,000 500,000 500,000 500,000 500,000 Capital Equipmeni 19,744 Streets 573.000 875.000 147,000 10.000 , to,604 WalkwaB and Bikewa}s 843,329 - 669,529 ~ 160.000 t60,0004 Pafk Improvements Unipeculed - 5 li 100,000 100.000 100,000 100,000 100,000 100,000 Total Expenditures 2.671386 3.039.194 3,911,500 L--J,319~-1332&341 1,115,000 1.117,000 600,000 600.000 640.000 600,000