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Home My WebLink About11/09/2006 CC/RDA Study Session kOBMT I. ......GD. MAVOR WWW,LAKE-ELSINOR.E.ORG Jwl-'TL"'I'NER.MAVORPROTEM (951)674-3124 PHONE ~~eY, cQc,N:CILMAN (951) 614-2392 FAX , IWtVl;;~~ COt1NCILMAN LAKE El3INORE CULTURAL CENTER G~ULL&YtCOONClLWOMAN 183 NOaTHMA~STREET aoaERT A. fllW)V, (:ITY MANAGER LAKE ~~ CA 91530 .....****....***...*...:"..........*****..*...**.....*.*.*..*.....**.***.*...** ;, j. TIII1RSDAY, NOVEMBER 9, 2006 - IMMEDIATELVFOLLOWING THE ' , " , , JOINT CITY COUNCIL AND PUBLIC SAF~'tY.ADVISORY OOMMlSSIONSTUDY SESSION 'If'you are attending this, Joint City CtJUllciVRedevelopment Agency Study Session pleflSe puk in .the Parking Lot across the street'from the 'Cultural , . f;enter. This will "'.,.116 in Iiltliting the impact of meetings on ihl! lJ9wntown Busi"ess District.Tlt.ank you for your cooperation! . . - . ( , , ," ., . ~LTOOIW.m P~M;~~~3~, ,,' " (Ple~ read&'oomplete a Speaker's Form at the Podium, prior to the Start, of~(;ity Council Study Session.) I1~CU~SJON~ A. Civic Center. , ',:a.. ,'~ .' . ,~:. ~" ~/" '/ . /"'"" CITY OF LAKE ELSINORE Civic Center Study Session - November 9,2006 TABLE OF CONTENTS Tab Page Executive Summary Summary 1 Types of Facilities Facilities Narrative 3 Table 1 6 Table 2 7 Potential Civic Center Sites Si tes Narrative 8 Table 3 9 /"'"" Maps Maps Map of All Sites Down Town Area Site No.1 - Main St./ Freeway Site No.2 - Main St./Heald Ave. Site No.3 - Main St./Franklin St. Site No.4 - Limited Ave./Langstaff St. Site No.5 - Limited Ave./Spring St. Site No.6 - Lakepoint Park Site No.7 - Diamond Dr. Site No.8 - East Side of Freeway Site No.9 - Chaney St./Hwy 74 Financing & Funding Financing 13 Minutes - August 17, 2006 Study Session Appendix A Detailed Cost Analysis of Potential Civic Center Sits Appendix B /"'"" Estimated Timeline for Project Completion Appendix C ,--.. CITY OF LAKE ELSINORE Civic Center Study Session - November 9,2006 Executive Summary Summary of August 17, 2006 Study Session At the last study session on August 17,2006, City Council described the types of facilities they would like to see in a Civic Center and the potential locations. The minutes for the meeting are included as Appendix A. Types of Facilities r--- . City Hall . Council Chambers . Library . Post Office . Fire Station . Office for Federal, State and County Agencies . Campus Approach . Parking Structure Potential Locations . Main Street . Main Street - Close to the Freeway Entrance · Main Street - Other Side of the Freeway . Limited and Langstaff . Limited and Spring . Lakepoint Park . Diamond Drive · Chaney and Highway 74 area · Downtown Area ,........- /'""' CITY OF LAKE ELSINORE Civic Center Study Session - November 9, 2006 Executive Summary, (Continued) Summary of November 9,2006 Study Session For the November 9, 2006 study session, staff has: /'""' · Determined preliminary size needed for each facility, which included meetings with the Post Master and School District and phone discussions with Library Staff and the Fire Chief. · Analyzed Civic Center fit for each site . Determined an estimated total Civic Center cost including land, building, parking, site preparation, off-site improvements and contingency . Analyzed the cost of a parking structure verses the on ground parking . Analyzed the financing and funding The underlying assumptions used in preparing the material for the November 9,2006 presentation are included and are presented so that the City Council and staff can modify them as needed to accomplish the desired objectives for a new Civic Center. /'""' 2 CITY OF LAKE ELSINORE Civic Center Study Session - November 9, 2006 r' Types of Facilities Based on the types of facilities proposed by City Council at the August 17, 2006 study session, staff has organized three versions of a "Civic Center" that build upon each other: A. City Hall, Council Chambers and a Library B. Add School District Administration Building C. Add Other Federal, State and County Offices The separation is primarily made so that a project cost subtotal can be calculated for the City funded facilities. Staff proposes that the School District and any other Agency office be funded by those entities. Tables 1 and 2 on page 6 and 7 summarize the space and cost for each facility and provide subtotals for each version. Table 2 compares the cost of "on ~ ground parking" to the cost of a parking structure. Ci ty Hall The development of a larger City Hall to meet the needs of a growing community is warranted. The existing City Hall contains approximately 16,000 square feet and contains 66 employees. For the purpose of this analysis, a 42,000 square foot City Hall is being considered. This size of building would provide additional office space for new employees to meet the needs of the City as it grows. Along with increased office space, the City Hall would also have additional conference/meeting rooms, increased on-site storage capacity for documents, plans, records, etc. and a larger lobby and facilities to serve the public. A detailed space analysis would be conducted as part of the design process. A conservative estimate for cost of construction is $400/ sf. The estimate is based on consultation with an architect who has recently bid out two other public facilities. ~ 3 CITY OF LAKE ELSINORE Civic Center Study Session - November 9,2006 /'"' Types of Facilities Parking is estimated based on one space per 250 sf. of building floor area. Based on the estimates provided by the City Engineer, an asphalt parking lot would cost approximately $4.00/ sf. A two to three story concrete parking structure costs approximately $12,000 per parking space. Each story of a parking structure Council Chambers Staff is proposing a 3,200 sf. single story Council Chamber. Staff proposes to keep the Cultural Center as a "Cultural Center" for public use. Library City staff contacted the Graham library staff and determined that 23,000 sf. to 25,000 sf. was desired. /'"' Post Office The City Manager met with the local acting Post Master. Staff was informed that the funding for constructing a new post office is not likely within the next few years since Federal funding is now being focused on rebuilding the hurricane damaged New Orleans area and other areas along the Gulf of Mexico. Fire Station City Staff spoke with the Fire Chief about the possibility of transplanting Station 10 in the downtown area to the new Civic Center. The Fire Chief mentioned that Station 10 was recently remodeled and is meeting existing needs. He also said that if the station was moved too far from where it is now, the move may leave pockets of the City where the response time exceeds the minimum standard. ~ 4 CITY OF LAKE ELSINORE Civic Center Study Session - November 9,2006 /"'"'"" Types of Facilities Other County, State, or Federal Offices The City Manager met with the Superintendent and other School District staff to discuss the potential of including School District administrative office at the new Civic Center. The School District has been looking at land to build a 45,000 sf administrative office facility. They are considering land located along Chaney. /"'"'"" At this time, no other Federal, State or County Agencies have been approached other than asking the Chief of Police to review their facility needs and consider participation. At the August 17, 2006 study session, it was mentioned that the City Hall should provide office space for our County Supervisor. Staff plans to contact the Supervisor's office to discuss the subject. Staff also plans to contact County staff and request that they consider locating part of their operations at the new Civic Center, either as a stand-alone facility on the "Total Government Campus" or in office space located within City Hall. ",...... 5 ~ CITY OF LAKE ELSINORE Civic Center Study Session. November 9, 2006 Estimated Size Cost of a "Civic Center" Table 1 Buildings & Features Acres Construction Cost/Sf. 400 400 14 400 Total Cost Est. No. of People 150 200 City Hall (3 stories x 14,000 sf = 42,000) Council Chambers Parking Lot Construction No. Parking Acres SqFt Cost/Sf. Total Cost S aces City Hall 1.54 67,200 7.50 $ 504,000 168 Council Chambers 0.46 20,000 7.50 150,000 50 Total Building & Parking (Ground Parking) Foot Print Acres SqFt 81,200 23,200 20,000 48,300 Total Cost $ 17,304,000 1,430,000 280,000 9,476,000 No. Parking Spaces 150 200 City Hall (3 stories) Council Chambers 6 Table 1 -- CITY OF LAKE ELSINORE Civic Center Study Session - November 9, 2006 Estimated Size Cost of a "Civic Center" Table 2 Parking Structure Construction No. Parking Acres SqFt Cost/Sf. Total Cost S aces City Hall 0.77 33,600 60.00 $ 2,016,000 168 Council Chambers 0.23 10,000 60.00 600,000 50 Campus Setting 0.42 18,400 1,104,000 92 Construction No. Parking Parking Lot Less Parking Structure Acres SqFt Cost/Sf. Total Cost S aces City Hall 0.77 33,600 (52.50) (1,512,000) Council Chambers 0.23 10,000 (52.50) (450,000) Campus Setting ----- 7 Table 2 ~ CITY OF LAKE ELSINORE Civic Center Study Session - November 9,2006 Potential Civic Center Sites City Council identified various potential locations for a Civic Center at the August 17,2006 study session. Staff has numbered and named the sites for reference purposes as follows: ,,-.. Site No. 1. 2. 3. 4. 5. 6. 7. 8. 9. Site Name Main St./Freeway Main St./Heald Ave. Main St./Franklin St. Limited Ave./Langstaff St. Limited Ave./Spring St. Lakepoint Park Diamond Dr. East Side of Freeway (Porto Romano) Chaney St./Hwy. 74 Area Table 3 on page 10 summarizes the acreage for each site and how it compares to the total acres required for the three versions of a "Civic Center". The total acreage for each Civic Center Version is based on the foot print of the building assuming a 3 story City Hall and a two story Library. All sites but 1 and 3 are large enough sites to accommodate at least Civic Center Version A. Site 2 and 8 are not large enough to fit the Civic Center Versions B and C. If a two story parking structure is used instead of on ground parking, all sites would work except for site 1, which only has 1.01 acres available. Table 3 also summarizes the grand total estimated Civic Center cost including land, building, parking, site preparation, off-site improvements and contingency. The cost of land includes the fair market value of land, improvements, if any, relocation costs according to the U.S. Uniform Relocation Assistance and Real Property Acquisition Policies Act and California Government Code. See Appendix B for more details. I""'" 8 CITY OF LAKE ELSINORE Civic Center Study Session - November 9, 2006 ~ Potential Civic Center Sites During the previous study session, the Mayor had listed various sites in order of preference. All of the Council members voiced a desire to see the new Civic Center located in the Downtown area as a top priority. After careful consideration of the sites, Staff recommends that the City Council select the top 4 sites and eliminate the other sites. Staff's recommendation for the top 4 sites based on fit and location are as follows: 2. Main St./Heald Ave. 4. Limited A ve./Langstaff St. 5. Limited A ve./Spring St. 8. East Side of Freeway (Porto Romano) ~ ,,-... 9 r--- CITY OF LAKE ELSINORE Civic Center Study Session - November 9, 2006 Estimated Size Cost of a "Civic Center" Table 3 Is There Enough Space? (Yes/No) Civic Center Civic Center Civic Center Sites - Land Estimated Version A Version B Version C Acres Land Cost 3.96 Acres 5.96 Acres 6.56 Acres 1. Main St./Freeway 1.01 $ 566,280 No No No 2. Main St./Heald Ave. 3.96 3,002,840 Yes No No 3. Main St./Franklin St. 3.54 2,301,341 No No No 4. Limited Ave./Langstaff St. 8.04 909,097 Yes Yes Yes 5. Limited Ave./Spring St. 10.02 4,826,810 Yes Yes Yes 6. Lakepoint Park 11.65 1,149,984 Yes Yes Yes 7. Diamond Dr. 18.69 8,171,856 Yes Yes Yes 8. East Side of Freeway (Porto Romano) 4.10 2,722,500 Yes No No 9. Chaney St./Hwy. 74 Area Various Various Yes Yes Yes -"'"" Site Prep, Total Est. Total Est. Other Offsite Cost of Sites - Total Estimated Project Cost Cost of Imprmnts & Building, Estimated Building & 10% Parking & Acres Land Cost Parking Contingency Land 1. Main St./Freeway 1.01 $ 566,280 $28,490,000 $ 2,960,628 $ 32,016,908 2. Main St./Heald Ave. 3.96 3,002,840 28,490,000 3,204,284 34,697,124 3. Main St./Franklin St. 3.54 2,301,341 28,490,000 3,134,134 33,925,475 4. Limited Ave./Langstaff St. 8.04 909,097 28,490,000 2,994,910 32,394,007 5. Limited Ave./Spring St. 10.02 4,826,810 28,490,000 3,386,681 36,703,491 6. Lakepoint Park 11.65 1,149,984 28,490,000 3,018,998 32,658,982 7. Diamond Dr. 18.69 8,171,856 28,490,000 3,721,186 40,383,042 8. East Side of Freeway (Porto Romano) 4.10 2,722,500 28,490,000 3,176,250 34,388,750 9. Chaney St./Hwy. 74 Area - - 28,490,000 2,904,000 - r--- 10 Table 3 CITY OF ~ LAKE ,6LSiNOR...E ~ ORE.AM EXTREME ~ PRfPAREDBY, 4Il> CI fY OF lAKE ELSINORE (,IS AUGUST 16 2006 DA T A SOURCES COUNTY OF RIVERSIDE GIS LAKE ~LSJNOREGrS CITY OF LAKE ElSINORE GIS V STATEPlANE NAD 83 CITY Of ~ LAKE 6LSiNORI: ~ DREAM EXTREME CITY OF LAKE ELSINORE CIVIC CENTER STUDY DOWNTOWN AREA PREPARED BY: \D CiTY OF LAKE EISINOREGIS AUGLJ ST J 6 2006 DATA SOURCES COUNTY OF RIVERSIDE GIS LAKEf'.LSINOREGIS CITY OF LAKE ELSINORE GIS '"" STATEPLANE NAD 81 CITY OF ~ LAKE 6LSiNORJ: ~ DREAM EXTREME CITY OF LAKE ELSINORE CIVIC CENTER STUDY SITE No.1 - MAIN ST.lFREEWAY PREPARED BY: \D CITY OF LAKE ELSINORE GIS AU(,UST 16 2006 DATA SOURCES COUNTY OF RIVERSIDE GIS LAKEC!.LSINOREGIS CITY OF LAKE ELSINORE GIS V STATEPLANE NAD 83 CITY OF ~ LAKE 6LSiNORI: ~ DR[AM E)(TR[ME CITY OF LAKE ELSINORE CIVIC CENTER STUDY SITE No.2 - MAIN ST./HEALD AVE. PREPARED BY' \D CITY OF LAKE EI SINORE GIS AUGUST 16. 2006 DATA SOURCES COUNTY OF RIVERSIDE GIS LAKE C!.LSINOREGIS CITY OF LAKE ELSINORE GIS V STATE PLANE NAD 83 CITY OF ~ LAKE 6LSiNORt V DREAM EXTREME CITY OF LAKE ELSINORE CIVIC CENTER STUDY SITE NO.3 - MAIN ST./FRANKLIN ST. PREPARED BY \n CITY Of LAKE ELSINORE GIS AUGUST] 6 2006 DA1A SOURCES COUNTY Of RIVERSIDE GIS lAKE C!.lSINOREGIS CITY Of LAKE ELSINORE GIS \J STATEPIANE NAD 83 CITY OF ~ LAI(]: 6LSiNORt ~ DREAM EXTREME PREPARED BY: \D CITY Of LAKE ElSINORE GIS AUGUST] 6 2006 DATA SOURCES COUNTY Of RIVERSIDE GI> SITE No.4 - LIMITED AVE./lANGSTAFF ST.LAKEOLSINOREGIS ~~:~E~~;~~fN~61~fREG[S CITY OF LAKE ELSINORE CIVIC CENTER STUDY UTY OF ~. LAKE 6LSINORJ: ~ DREAM E;XTREME CITY OF LAKE ELSINORE CIVIC CENTER STUDY SITE NO.5 - LIMITED AVE.lSPRING ST. PREPARED BY' '" CITY OF LAKE ElSINORE GIS AUGUST 16 2006 DATA SOURCES COUNTY OF RIVERSIDE GIS LAKE o::!.LSINOREGIS CITY OF LAKE ELSINORE GIS U STATEPLANE NAD 83 CITY OF ~ LAl(f: 6LSiI10RI: ~ DREAM EXTREME CITY OF LAKE ELSINORE CIVIC CENTER STUDY SITE No.6 - LAKEPOINT PARK PREPARED BY \9....... CITY OF. LAKE ELSINORE GIS AUGUST 16. 2006 DATA SOURCES, COUNTY OF RIVERSIDE GIS LAKEfhSINOREGIS CITY OF LAKE ELSINORE GIS "'" STATEPLANE NAD 83 ~ITY OF ~ LAIQ: 6LSiNORJ: ~ DRIAM EXTREME CITY OF LAKE ELSINORE CIVIC CENTER STUDY SITE No.7 - DIAMOND DR. PRE PARED BY. ~ CITYOfLAKEEISINOREGIS AUGUST 16 2006 DATA SOURCES COUNTY Of RIVERSIDE GIS LAKE ~LSINOREGIS CITY Of LAKE ELSINORE GIS IJ STATEPLANE NAD 83 CITY OF ~ LAKE ,6,LSiNORE ~ DREAM EXTREME CITY OF LAKE ELSINORE CIVIC CENTER STUDY SITE No.8 - EAST SIDE OF FREEWAY PREPARED BY \1\ CITY OF LAKE EISINOREG1S AUGUST] 6 2006 DATA SOURCES COIJNTY OF RIVERSIDE GIS lAKE ~LS]NOREGIS CITY OF LAKE ELSINORF GIS V STATEPLANE NAD 83 CITY OF h~ LAKE ,6,LSiNORI: ~ DREAM EXTREME CITY OF LAKE ELSINORE CIVIC CENTER STUDY SITE No.9 - CHANEY ST./HWY 74 PREPARED BY. \D CITY OF LAKE EISINOREGIS AUGUST 16 2006 DATA SOURCES COUNTY OF RIVERSIDE GIS LAKE ClLSINOREGIS CITY OF LAKE ELSINORE GIS IJ STATEPLANE NAD 83 CITY OF LAKE ELSINORE Civic Center Study Session - November 9,2006 r- Financing and Funding Type of Bonds Lease financing (either Lease Revenue Bonds or Certificates of Participation). City leases City Hall from a financing authority. Probably will create a new authority but could use an existing one. Lease Financing is the only type of financing available to City without a vote. Payment of debt service is a General Fund obligation. Timing of Sale r- Bonds are not sold until construction bids are received. It is considered too risky to sell bonds prior to that time. Project Cost Estimates are often less than the construction bids. Since the City cannot make lease payments until the project is complete and it takes possession of the project, it is important to establish there is sufficient money to complete the project and to establish a realistic timeframe for project completion. It is estimated that the sale of bonds will occur in approximately 2 years. For the purposes of this study, a net construction fund of $40,000,000 was assumed. See pages 13 through 15. Interest on the bonds will have to be capitalized during the construction period. A one-year construction period is assumed. See Appendix C for a detailed estimated project timeline. Bond Structure and Interest Rates The options include bond insured (Fixed Rate - AAA Rating), Variable Rate - (letter of credit - AAA Rating) and unrated (fixed rate - no credit enhancement). At the present time after figuring in costs, the 3 bond structures are fairly close in terms of net interest rate and overall costs to the city. Prior to the issuance of bonds, changes in interest rates could dictate which structure is bested suited for the City. For the purposes of the initial analysis, it was assumed a bond insured issue at an interest rate of 4.5%. /"""' 11 CITY OF LAKE ELSINORE Civic Center Study Session - November 9,2006 /"' Financing and Funding A credit analysis will have to be performed to see if the City would qualify for bond insurance or a letter of credit. This should be performed at the end of the 2006/07 and the 2007108 fiscal years to see how General Fund revenues are affected by the economy. Other one time funding is available such as the Public Building Impact Fee, potential sale or lease of existing City Hall and General Fund unallocated revenue. Public Building Impact Fee The City has collected over $500,000 to-date and is projected to collect over $3,000,000 before construction begins. /"' Sale or Lease of Existing City Hall At a lease rate of $.90 cents a square foot, the City would collect approximately $14,400 per month or $172,800 per year. As an alternative, if the City sold the property, the sales proceeds would be approximately $4,400,000 (16,000 sf. X $275/sf.). It would take approximately 34 years until the accumulation of lease revenue exceeded the value of the property assuming a 2% growth rate applied to both the annual lease payments and to the total fair market value. ,,-.... 12 /"" SOURCES AND USES OF FUNDS City Hall Study Bond Insurance (AAA) Dated Date 11/01/2008 Delivery Date 11/01/2008 Par Plus: Less: Sources of Funds Amount Accrued Discount Total Bond Proceeds: Term Bond 43,560,000.00 43,560,000.00 43,560,000.00 0.00 0.00 43,560,000.00 Par Plus: Less: Uses of Funds Amount Accrued Discount Total Project Fund Deposits: Construction Fund 40,000,000.00 40,000,000.00 Other Fund Deposits: Reserve Fund 376,996.50 376,996.50 Capitalized Interest 1,960,200.00 1 ,960,200.00 2,337,196.50 2,337,196.50 Delivery Date Expenses: /"' Cost ofIssuance 400,000.00 400,000.00 Underwriter's Discount 217,800.00 217,800.00 Bond Insurance 603,194.40 603,194.40 1,220,994.40 1,220,994.40 Other Uses of Funds: Additional Proceeds 1,809.1 0 1,809.10 43,560,000.00 0.00 0.00 43,560,000.00 ,,-. Nov 5,2006 5:30 pm Prepared by Rod Gunn Associates 13 Page 1 /""'" BOND DEBT SERVICE City Hall Study Bond Insurance (AAA) Dated Date 11/01/2008 Delivery Date 11/01/2008 Annual Period Debt Bond Total Ending Principal Coupon Interest Debt Service Service Balance Bond Value 11/01/2008 43,560,000 43,560,000 05/01/2009 980,100.00 980,100.00 43,560,000 43,560,000 11/01/2009 980,100.00 980,100.00 1,960,200 43,560,000 43,560,000 05/01/2010 980,100.00 980,100.00 43,560,000 43,560,000 11/01/2010 980,000 4.500% 980,100.00 1,960,100.00 2,940,200 42,580,000 42,580,000 05/01/2011 958,050.00 958,050.00 42,580,000 42,580,000 11/01/2011 1,020,000 4.500% 958,050.00 1,978,050.00 2,936,100 41,560,000 41,560,000 05/01/2012 935,100.00 935,100.00 41,560,000 41,560,000 11/01/2012 1,065,000 4.500% 935,100.00 2,000,100.00 2,935,200 40,495,000 40,495,000 05/01/2013 911,137.50 911,137.50 40,495,000 40,495,000 11/01/2013 1,115,000 4.500% 911,137.50 2,026,137.50 2,937,275 39,380,000 39,380,000 05/01/2014 886,050.00 886,050.00 39,380,000 39,380,000 11/01/2014 1,165,000 4.500% 886,050.00 2,051,050.00 2,937,100 38,215,000 38,215,000 05/01/2015 859,837.50 859,837.50 38,215,000 38,215,000 11/01/2015 1,220,000 4.500% 859,837.50 2,079,837.50 2,939,675 36,995,000 36,995,000 05/01/2016 832,387.50 832,387.50 36,995,000 . 36,995,000 11/01/2016 1,275,000 4.500% 832,387.50 2,107,387.50 2,939,775 35,720,000 35,720,000 /""'" 05/01/2017 803,700.00 803,700.00 35,720,000 35,720,000 11/01/2017 1,330,000 4.500% 803,700.00 2,133,700.00 2,937,400 34,390,000 34,390,000 05/01/2018 773,775.00 773,775.00 34,390,000 34,390,000 11/01/2018 1,390,000 4.500% 773,775.00 2,163,775.00 2,937,550 33,000,000 33,000,000 05/01/2019 742,500.00 742,500.00 33,000,000 33,000,000 11/01/2019 1,455,000 4.500% 742,500.00 2,197,500.00 2,940,000 31,545,000 31,545,000 05/01/2020 709,762.50 709,762.50 31,545,000 31,545,000 11/01/2020 1,520,000 4.500% 709,762.50 2,229,762.50 2,939,525 30,025,000 30,025,000 05/01/2021 675,562.50 675,562.50 30,025,000 30,025,000 11/01/2021 1,585,000 4.500% 675,562.50 2,260,562.50 2,936,125 28,440,000 28,440,000 05/01/2022 639,900.00 639,900.00 28,440,000 28,440,000 11/01/2022 1,660,000 4.500% 639,900.00 2,299,900.00 2,939,800 26,780,000 26,780,000 05/01/2023 602,550.00 602,550.00 26,780,000 26,780,000 11/01/2023 1,730,000 4.500% 602,550.00 2,332,550.00 2,935,100 25,050,000 25,050,000 05/01/2024 563,625.00 563,625.00 25,050,000 25,050,000 11/01/2024 1,810,000 4.500% 563,625.00 2,373,625.00 2,937,250 23,240,000 23,240,000 05/01/2025 522,900.00 522,900.00 23,240,000 23,240,000 11/01/2025 1,890,000 4.500% 522,900.00 2,412,900.00 2,935,800 21,350,000 21,350,000 05/01/2026 480,375.00 480,375.00 21,350,000 21,350,000 11/01/2026 1,975,000 4.500% 480,375.00 2,455,375.00 2,935,750 19,375,000 19,375,000 05/01/2027 435,937.50 435,937.50 19,375,000 19,375,000 11/01/2027 2,065,000 4.500% 435,937.50 2,500,937.50 2,936,875 17,310,000 17,310,000 05/01/2028 389,475.00 389,475.00 17,310,000 17,310,000 11/01/2028 2,160,000 4.500% 389,475.00 2,549,475.00 2,938,950 15,150,000 15,150,000 05/01/2029 340,875.00 340,875.00 15,150,000 15,150,000 11/01/2029 2,255,000 4.500% 340,875.00 2,595,875.00 2,936,750 12,895,000 12,895,000 05/01/2030 290,137.50 290,137.50 12,895,000 12,895,000 11/01/2030 2,355,000 4.500% 290,137.50 2,645,137.50 2,935,275 10,540,000 10,540,000 05/01/2031 237,150.00 237,150.00 10,540,000 10,540,000 11/01/2031 2,465,000 4.500% 237,150.00 2,702,150.00 2,939,300 8,075,000 8,075,000 ~. 05/01/2032 181,687.50 181,687.50 8,075,000 8,075,000 11/01/2032 2,575,000 4.500% 181,687.50 2,756,687.50 2,938,375 5,500,000 5,500,000 Nov 5, 2006 5:30 pm Prepared by Rod Gunn Associates 14 Page 2 ~ BOND DEBT SERVICE City Hall Study Bond Insurance (AAA) Annual Period Debt Bond Total Ending Principal Coupon Interest Debt Service Service Balance Bond Value 05/01/2033 123,750.00 123,750.00 5,500,000 5,500,000 11/01/2033 2,690,000 4.500% 123,750.00 2,813,750.00 2,937,500 2,810,000 2,810,000 05/01/2034 63,225.00 63,225.00 2,810,000 2,810,000 11/01/2034 2,810,000 4.500% 63,225.00 2,873,225.00 2,936,450 43,560,000 31,839,300.00 75,399,300.00 75,399,300 ~ ~ Nov 5, 2006 5:30 pm Prepared by Rod Gunn Associates 15 Page 3 APPENDIX A r--- MINUTES JOINT CITY COUNCILIREDEVELOPMENT AGENCY STUDY SESSION CITY OF LAKE ELSINORE 183 NORTH MAIN STREET LAKE ELSINORE, CALIFORNIA THURSDAY, AUGUST 17,2006 ******************************************************************** CALL TO ORDER Mayor Magee called the Joint Study Session to order at 4:00 p.m. ROLL CALL PRESENT: COUNCILMEMBERS: HICKMAN, KELLEY, SCHIFFNER, MAGEE r--- ABSENT: COUNCILMEMBERS: BUCKLEY Also present were: City Manager Brady, Community Development Director Preisendanz, Lake & Aquatic Resources Director Kilroy and City Clerk Ray. PLEDGE OF ALLEGIANCE The Pledge of Allegiance was led by Mayor Magee. INVOCATION - MOMENT OF SILENT PRAYER Mayor Magee led the Joint Study Session in a moment of silent prayer. PUBLIC COMMENTS None. DISCUSSION ITEM ~ Agenda Item No. Page] of6 APPENDIX A APPENDIX A PAGE 2 STUDY SESSION MINUTES - AUGUST 17,2006 r- A. Feasibility Study for a Civic Center. City Manager Brady gave an overview of the item. He noted that staff was looking for direction from Council. He noted that the location and what was going to be included in the Civic Center needed to be determined. City Manager Brady indicated that he had spoken to other cities regarding their facilities. He noted that other cities had done a "space and needs analysis". He noted that this was the first step of the process. He indicated that $125 thousand was set aside in the budget for the study relating to a Civic Center. City Manager Brady noted that the current City Hall was an estimated 9,900 square feet and that it was maxed out. He noted that the Cultural Center was an estimated 3,500 square feet. He noted Murrieta was looking at a 35,000 square foot City Hall and Temecula was looking at a 90,000 square foot City Hall. He noted that both City Halls were in the process of being built. Mayor Magee suggested starting with the types of facilities that Council would like to see included in a new Civic Center. r- Councilmember Kelley noted that she would like to see a library included. She noted that she would like for the library to be in the 2,500-3,000 square foot range. She noted that a City Hall and Council Chambers would also be great to include. She noted that a post office was a good idea if it could be included. Mayor Pro Tern Schiffner noted that he would like to see a library, fire station and post office included as part of the Civic Center. He noted that he was not in favor of building a City Hall that was too big. Councilmember Hickman inquired what the requirements were going to be for a new City Hall. City Manager Brady commented that he felt the City Hall needed to be somewhere in the range of 30,000-40,000 square feet. He noted that a study needed to be done in terms of what the needs are. Councilmember Hickman inquired if the library and community center should be conjoined. ,-- Agenda Item No. Page 2 of6 APPENDIX A APPENDIX A PAGE 3 STUDY SESSION MINUTES - AUGUST 17,2006 r-- City Manager Brady noted the benefits of joining the facilities. He noted that he did not have a preference. Councilmember Hickman noted that he would like the post office located on Main Street. He suggested keeping some services available at the current City Hall. Mayor Magee noted that he was in support of a library. He noted in respect to Mayor Pro Tern Schiffner's comment, he would go with a campus approach. He noted that the City needed a definite answer from the post office as to whether they were going to be a part of the new Civic Center or not. He noted that he and Councilmember Buckley met with them 3 years ago and they indicated that they have the money, but nothing has happened since and there was a lack of communication. Mayor Magee noted that in regard to Mayor Pro Tern Schiffner's comment about including a fire station, the City needed to hear from the Fire Chief as to whether or not the current facility can continue to be maintained or if it needed to be included in the Civic Center. r-- Mayor Magee noted that if Pyramid Enterprises went through, the Lake Department would have a satellite office. He noted that he felt both the Lake Department and Public Works needed to have a point of contact at the main City Hall. Mayor Magee noted that he would like to look at providing office space and counter space for Riverside County. He commented on the City of Escondido's City Hall and how they have one continuous counter to serve the public. He noted that he would like to provide office space for County, State and Federal government. He noted that he would like to take an approach to include everything to create a "hub" so that it would be a total government campus. Councilmember Kelley agreed with the Mayor's idea of a government campus. She noted that a location needed to be determined. She noted that City Hall would be a better entrance to Main Street. Mayor Pro Tern Schiffner commented that he was in favor of building a Civic Center on Main Street close to the freeway entrance. He noted that it would help revitalize the downtown area. He indicated that he was very cautious of ",.-- Agenda Item No. Page 3 of6 APPENDIX A APPENDIX A PAGE 4 STUDY SESSION MINUTES - AUGUST 17,2006 ~ the library. He commented on his past experience with the City of Long Beach and how eventually the library was only open 2 days a week. Councilmember Kelley noted that it would be her anticipation that the library on Graham would be closed down. Councilmember Hickman noted that he was not in favor of placing a library in the center of the Civic Center. Councilmember Kelley commented that a bigger library was needed. She noted that there was already $3 million set aside. Mayor Magee commented on the possible sale of existing facilities. ~ Mayor Magee suggested several locations for a possible Civic Center site. First, he noted Main Street as a possibility. He noted that there was a developer that wanted to develop mixed use on the other side of the freeway on Main Street. Second, he noted Limited and Langstaff as a possibility. He suggested working with the County Supervisor's office to purchase the land. Third, he noted Limited and Spring as a possibility. He noted that if DR Horton was not going to move forward, it would be an opportunity to have a focal point at the end of Main Street. Fourth, he noted Lakepoint Park as a possibility. He noted that the Senior Center was already there. He noted that the City owned the property. Fifth, he noted the Diamond Drive area as a possibility. He noted that it would create a need for more office space. He noted that it created energy for other entities to be drawn to that location. Last, he mentioned Chaney and Highway 74 area. He noted that it would be his last option. Mayor Magee noted that his suggestions were in descending order. Councilmember Kelley inquired what would be included in the cost. City Manager Brady noted that the cost would be driven by the facilities that Council had requested. He noted that ideas for the facilities and location would playa big factor in the cost. Councilmember Kelley noted that she would like to keep the Civic Center in the downtown area. /"'" Agenda Item No. Page 4 of6 APPENDIX A APPENDIX A PAGE 5 STUDY SESSION MINUTES - AUGUST 17,2006 --- Mayor Pro Tern Schiffner noted that he would like consideration of a parking structure. He noted that it would help better utilize the land and allow for more parking. He noted that he would like to see a satellite office for the County Supervisor in the new Civic Center. Councilmember Hickman noted that Main Street was his first choice for a location. He noted that it would help revitalize downtown. Mayor Magee requested an update in the next 6 weeks. City Manager Brady clarified Council's ideas and suggestions. He commented on the campus style atmosphere. He noted that the downtown area was the preferred location. He noted that the location would be based on space analysis. He agreed with Council on having all the agencies in one localized area. ADJOURNMENT THE JOINT CITY COUNCILIREDEVELOPMENT AGENCY STUDY SESSION WAS ADJOURNED AT 4:47 P.M. ~. ROBERT E. MAGEE, MAYOR CITY OF LAKE ELSINORE GENIE KELLEY, CHAIRWOMAN REDEVELOPMENT AGENCY Respectfully su bmitted, MICHELLE SOTO, DEPUTY CITY CLERK I""'"' Agenda Item No. Page 5 of6 APPENDIX A r-, ~ ~ PAGE 6 STUDY SESSION MINUTES - AUGUST 17,2006 ATTEST: FREDERICK RAY, CITY CLERK Agenda Item No. Page 6 of6 APPENDIX A APPENDIX A /""". CITY OF LAKE ELSINORE Civic Center Study Session - November 9, 2006 Cost Analysis of Potential Civic Center Sites APPENDIX B /""" /""" 1 APPENDIX B CITY OF LAKE ELSINORE Civic Center Study Session - November 9, 2006 Cost Analysis of Potential Civic Center Sites APPENDIX B /"""' /"""' Calculated Calculated (Unrou Recorded land land & Indepen. Relocation nded) Buildl Site APN Value Estimate Improv. Estimate Expenses Acres Use Improv 1 377-243-001 $150,000 $277,477 0.49 COMM No 1 377-243-002 $49,014 $96,268 0.17 VACANT No 1 377-243-003 $49,014 $96,268 0.17 VACANT No 1 377-243-004 $49,014 $96,268 0.17 RES LOT No TOTAL $297,042 $566,280 1.00 0 2 373-023-010 $340,000 $101,930 $289,180 $323,852 $1,425 0.18 SFR Yes 2 373-023-011 $3,991 $73,616 0.13 VACANT No 2 373-023-012 $3,991 $84,942 0.15 VACANT No 2 373-023-015 $41,616 $84,942 0.15 COMM No 2 373-023-024 $567,018 $466,092 $848,439 $12,675 1.07 COMM Yes 2 373-023-025 $41,616 $67,954 0.12 COMM Parking 2 373-023-026 $3,825 $11,326 0.02 COMM Parking 2 373-025-006 $0 $192,535 0.34 RDA No 2 373-025-007 $0 $96,268 0.17 RDA No 2 373-025-008 $61,200 $192,535 0.34 VACANT No 2 373-025-009 $59,460 $96,268 $230,768 $292,426 $1,425 0.17 SFR Yes 2 373-025-014 $100,000 $118,919 0.21 COMM No 2 373-025-022 $141 ,183 $96,268 0.17 RESTAURANT Parking 2 373-025-023 $141,183 $96,268 $201,817 $12,675 0.17 RESTAURANT Yes 2 373-025-024 $10,000 $16,988 0.03 COMM No 2 373-025-026 $187,272 $271,814 0.48 COMM No TOTAL $1,702,355 $2,068,664 $2,878,310 $2,974,640 $3,002,840 3.90 4 3 374-162-039 $1,716 $62,291 0.11 RDA No 3 374-162-041 $1,141 $62,291 0.11 RDA No 3 374-162-043 $1 ,140 $56,628 0.10 RDA No 3 374-162-045 $1 ,140 $56,628 0.10 RDA No 3 374-162-047 $563 $56,628 0.10 RDA No 3 374-162-049 $563 $56,628 0.10 RDA No 3 374-162-051 $565 $62,291 0.11 RDA No 3 374-162-053 $565 $62,291 0.11 RDA No 3 374-162-055 $565 $62,291 0.11 RDA No 3 374-162-057 $565 $62,291 0.11 RDA No 3 374-162-059 $565 $67,954 0.12 RDA No 3 374-162-061 $670 $67,954 0.12 RDA No 3 374-163-001 $74,908 $96,268 0.17 COMM No 3 374-163-002 $74,908 $101,930 0.18 COMM No 3 374-163-003 $74,908 $78,408 0.18 COMM No 3 374-163-004 $233,049 $317,117 0.56 COMM No 3 374-163-005 $6,176 $107,593 0.19 VACANT No 3 374-163-006 $52,299 $107,593 $419,793 $389,832 $1 ,425 0.19 SFR Yes 3 374-163-007 $34,200 $209,524 $244,742 $12,675 0.37 COMM Yes ""' 2 APPENDIX B CITY OF LAKE ELSINORE Civic Center Study Session - November 9, 2006 Cost Analysis of Potential Civic Center Sites APPENDIX B /"'-, ~ Calculated Calculated (Unrou Recorded Land Land & Indepen. Relocation nded) Buildl Site APN Value Estimate Improv. Estimate Expenses Acres Use Improv 3 374-163-008 $18,581 $107,593 0.19 COMM No 3 374-163-009 $7,142 $107,593 0.19 VACANT No TOTAL $585,929 $1,969,783 $2,317,202 $2,287,241 $2,301,341 3.52 2 4 374-252-001 $0 $0 2.69 CITY Yes 4 374-252-002 $0 $631,620 1.45 COUNTY Yes 4 374-261-018 $74,718 $0 0.53 COUNTY Yes 4 374-261-023 $302 $0 2.84 COUNTY Parking 4 374-261-029 $154,000 $277,477 0.49 STORE Yes TOTAL $229,020 $909,097 8.00 4 5 374-263-001 $150,858 $419,047 0.74 COMM No 5 374-263-002 $101,334 $402,059 0.71 COMM No 5 374-263-003 $2,705 $11,326 0.02 COMM No 5 374-263-004 $240,811 $209,524 $386,551 $12,675 0.37 SERVICE STATION Yes 5 374-263-005 $16,463 $84,942 0.15 COMM No 5 374-263-006 $32,285 $158,558 0.28 COMM No 5 374-271-003 $91,800 $203,861 0.36 COMM No 5 374-271-004 $183,600 $407,722 0.72 COMM No 5 374-271-007 $1,252,560 $2,173,644 4.99 COMM No 5 374-271-013 $1,020 $50,965 0.09 COMM No 5 374-271-015 $1,020 $124,582 0.22 COMM No 5 374-283-001 $26,535 $84,942 $105,590 $2,150 0.15 MULTI FAMILY Yes 5 374-283-002 $12,484 $181,210 0.32 VACANT No 5 374-291-003 $13,394 $101,930 0.18 RES LOT No 5 374-291-004 $0 $0 0.73 CITY/COMM No 5 374-291-005 $0 $0 0.03 CITY/COMM No 5 374-291-007 $0 $0 0.39 CITY No TOTAL $2,126,869 $4,614,311 $4,811,985 $4,826,810 10.45 2 6 373-300-027 $108,086 $1,149,984 2.64 SENIOR CENTERlRDA Yes 6 373-300-028 $0 $0 9.83 LAKEPOINT PARK/CITY Yes TOTAL $108,086 $1,149,984 12.47 2 7 373-210-037 $357,000 $1,180,476 2.71 COMM No 7 373-210-038 $1,132,200 $3,807,144 8.74 COMM No 7 373-210-039 $744,600 $2,522,124 5.79 COMM No 7 373-210-043 $193,636 $662,112 1.52 COMM No TOTAL $2,427,436 $8,171,856 18.76 0 8 377-330-005 $10,039 $2,722,500 6.25 VACANT No TOTAL $10,039 $2,722,500 6.25 0 ~ 3 APPENDIX B /'"" CITY OF lAKE ELSINORE Civic Center Study Session - November 9, 2006 Cost Analysis of Potential Civic Center Sites APPENDIX B Comparable Asking Prices of land for Sale Along Main St., Spring St. and Line St. /'"" Cost/Square Site DescriDtion Cost Acreage Foot Lot DescriDtion Contact Main Street & Freeway 1,100,000 0.64 39.46 Vacant Land 909-797-7171 Main Street & Freeway 1,150,000 0.69 38.26 Vacant Land 951-718-7651 Main Street and Flint 900,000 0.33 62.94 Vacant Land 951-545-0739 Main Street and Pottery 650,000 0.16 90.91 Vacant Land 951-545-0739 Main Street and Pottery 1,250,000 1.12 25.62 Vacant Land 951-894-8203 Main Street and Franklin 450,000 0.50 20.66 Vacant Land 951-894-8203 Main Street and Franklin 200,000 0.17 26.67 Vacant Land 951-894-8203 228 Spring Street 572,674 0.16 82.17 Residential w/Structure 951-244-7131 305 Line Street 850,000 0.41 47.59 Residential w/Structure 949-683-0061 206 Main Street 325,000 0.17 43.89 Residential w/Structure 760-809-7486 /'"" 4 APPENDIX B APPENDIX B r-- CITY OF LAKE ELSINORE Civic Center Study Session - November 9,2006 Potential Civic Center Sites Estimated Land Cost Assumptions The cost of land was calculated by assigning $13 per square foot for properties below 1 acre in size and $10 per square foot for properties equal to and above 1 acre in size. These prices represent the highest amounts suggested after consultation with a licensed real estate appraiser. In fact, the appraiser recommended prices of $10 and $2 for the two groups of lot sizes, respectively. After conducting a survey of current area asking prices, which found prices of approximately $20 to $90 per square foot, the $13 and $10 amounts appeared more prudent. While these asking prices appear inflationary given what properties are actually selling for according to the appraiser, selecting the highest prices provided by the appraiser should help accommodate the dynamics of purchasing property not currently on the for-sale market in a conservative manner. /""' Land and existing improvements were calculated separately and lumped together in the "Calculated Land and Improvements" column. There were a total of 14 properties with existing improvements. The price for the properties with single family residences ("SFR") was estimated with an online real estate appraisal service. All properties with existing improvements of any kind were calculated according to prices suggested after consultation with a licensed real estate appraiser. The prices used were $175 per square foot for buildings over 1,000 square feet and $250 per square foot for buildings below 1,000 square feet. For buildings where there was no recorded square footage, cost estimates were obtained by adding the estimated land value to an original improvement value recorded in County records inflated by 50%. The estimates did not directly take into account the age or condition of the properties, but the selling prices of comparable properties in the area were relied on as a proxy. r-- Properties already owned by the City were assumed to carry a $0 cost, despite any present debt owed on such properties. The price of land owned 5 APPENDIX B APPENDIX B r- CITY OF LAKE ELSINORE Civic Center Study Session - November 9,2006 Potential Civic Center Sites Estimated Land Cost Assumptions, (Continued) by the RDA was calculated, but existing improvements were not included in those estimates because a reliable figure for such improvements was not available at the time of this study. In the case of discrepancies in the acreage of the properties between County records and GIS measurements, the study utilizes the most reliable figure after a careful review of all sources, including the actual parcel map. It should be noted, however, that the discrepancies were few in number and accounted for just over an acre variance between the total acreage of all 9 sites. r- Private properties with improvements were assumed to be occupied. Relocation activities must comply with California Government Code Sections 7260-7277. For properties with occupants, including businesses and residents, relocation and displacement costs were estimated according to the payment schedules provided by the U.S. Uniform Relocation Assistance and Real Property Acquisition Policies Act and California's Government Code. For purposes of estimating moving expenses, SFRs were assumed to contain 5 rooms of furniture and Multi-Family housing were assumed to house 8 rooms per building. Business relocation expenses were estimated with the aforementioned payment schedule and the California Government Code assuming 4 rooms of furniture, $500 for replacement search expenses (50% of the $1,000 maximum), $5,000 in business reestablishment costs (50% of the $10,000 maximum), plus $500 per month to act as a contingency for miscellaneous encumbrances, including debt service payments for business equipment financed by the owner, for a period of 12 months. The 12 month period was assumed to be the length of business displacement. Utility disconnection and connection costs, closing costs, recording fees, differential payments for increased rents, reimbursement for loss of business goodwill, attorneys' fees for r- 6 APPENDIX B APPENDIX B ".-- CITY OF LAKE ELSINORE Civic Center Study Session - November 9,2006 Potential Civic Center Sites Estimated Land Cost Assumptions, (Continued) assistance in zoning issues, owner/employee salary commitments, costs potentially due under Gov. Code Section 7263, 7264, or 7265, or the cost of obtaining a soil analysis at a replacement site were not included in the estimate, but are suggested for more detailed evaluations. In lieu of the payments above, businesses may elect to discontinue their business and receive a fixed relocation payment equal to their average annual net earningsl, between $1,000 and $20,000, in accordance with Government Code Section 7262. It must be noted that the length and costs of displacement and relocation will vary with each business, residence, location, and negotiation, but shall always be structured to provide fair and just compensation for related relocation expenses. ~ In all, this study provides conservative estimates suitable for comparing each of the proposed sites. Upon selection of the preferred sites, subsequent studies will more critically analyze this data in order to provide greater reliability in the development process. ",-.- 1 Government Code Section 7262 defines the term "average annual net earnings" as /lone-half of any net earnings of the business or farm operation before federal, state, and local income taxes during the two taxable years immediately preceding the taxable year in which the business or farm operation moves from the real property being acquired, or during any other period as the public entity determines to be more equitable for establishing earnings, and includes any compensation paid by the business or farm operation to the owner, his or her spouse, or his or her dependents during the two-year or other period./I 7 APPENDIX B CITY OF LAKE ELSINORE APPENDIX C CIVIC CENTER -- ESTIMATED TIMELlNE FOR PROJECT COMPLETION No. Item Est. Timeline / Range 1 SITE SELECTION a. Select a consultant 2.0 mos b. Consultant prepares a report - Constructability-grading, etc. 1.5 mos - Cost of purchasing 1.0 mo - Circulation access 0.5 mo - Willingness of owner to sell 1.0 mo 6.0 to 12.0 mos 2 SITE ACQUISITION a. Select realty firm 2.0 mos b. Prepare three (3) appraisals for site 1.0 mo c. Acquire property 2.5 mos d. City Council approves acquisition 0.5 mo Note: If the use of eminent domain is required, the timeframe would increase significantly. 6.0 to 18.0 mos 3 ARCHITECTURAL FIRM SELECTION -- a. Mail out request for proposals (RFPs) to several architectural firms / or Design Contest 2.5 mos b. Committee selects the architect firm 0.5 mo c. City Council approves selection 0.5 mo d. Architectural firm prepares several conceptual building designs 2.0 mos e. City Council selects one building design concept. 0.5 mo f. Architect makes a 50% plan presentation to the City, and receives comments. 3.0 mos g. Architect completes plans, specifications and cost 3.0 mos estimates. Plans include: 1) Building Final Plans & Specs 2) Parking Lot Design 3) Landscaping & Irrigation Plans 4) Traffic Circulation Plans 12.0 to 18.0 mos 4 CONSTRUCTION a. Advertise Plans 30 Days 1.0 mo b. Open bids 0.5 mo c. City Council awards contract to low bidder 0.5 mo d. Contractor starts construction 0.5 mo e. Project completed 9.0 mos -- 12.0 to 18.0 mos Operational within 3 to 5 years - TOTAL 36.0 to 60.0 mos APPENDIX C