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Capital Improvement Planning -June 11, 2001 <br /> <br />Expand existing City Hall and Police facilities. Programming of <br />space will begin in 2001. This planning will determine the scope and <br />cost of the expansion. <br /> <br />Final timing to be determined, but construction anticipated in 2002 or <br />2003. <br /> <br />$2,500,000 to $3,500,000 (including FFE). Cost will vary based on <br />nature and timing of actual improvements. <br /> <br />Government Buildings Reserve and/or lease revenue bonds. <br />This fund receives a portion of the landfill surcharge revenue. A <br />portion of the project costs can be paid with reserves. The amount of <br />the cash contribution will depend on revenues for the Government <br />Buildings Reserve and the use of the Reserve for other projects. <br />Current fund balance and future revenues should be earmarked to pay <br />for improvements. <br /> <br />Current City Hall financed with lease revenue bonds. 1997 <br />Refunding Bonds mature 2/1/11 and are callable 2/1/06. $825,000 of <br />balance in Government Buildings Reserve is reserved for existing <br />building debt. The use of debt for the City Hall expansion should <br />account for this existing obligation. <br /> <br />Internal borrowing or lease revenue bonds can be used to finance <br />costs not supported by reserves. <br /> <br />The continued growth of the City will create the need for one or more <br />new fire stations. Land has been acquired for a facility in western <br />part of the City. A site for a "north" station needs to be acquired <br />(approximately 1.5 acres). <br /> <br />The fire stations will be built as needed to provide service. A specific <br />timetable has not been established. A north site should be acquired <br />within the next five years. Current growth trends suggest that the <br />West Station will be built within ten years and the North Station will <br />be built within ten to twenty years. <br /> <br />To be determined. The cost will be influenced by site costs, design of <br />the facility, amount of furniture and equipment, and timing of actual <br />improvements. Recent facilities in other cities have ranged from <br />$1,500,000 to $3,500,000. <br /> <br />Government Buildings Reserve and/or bonds. <br /> <br />5 <br /> <br /> <br />