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HomeMy WebLinkAbout12-02-19 City Commission Packet Materials - C3. Parking Fund CIP for FY21-25 Commission Memorandum REPORT TO: Honorable Mayor and City Commission FROM: Kristin Donald, Finance Director SUBJECT: Adopt the Parking Fund Capital Improvement Plan (CIP) for Fiscal Years 2021-2025. AGENDA ITEM TYPE: Consent MEETING DATE: December 2, 2019 RECOMMENDATION: Adopt the Parking Fund Capital Improvement Plan (CIP) for Fiscal Years 2021-2025. BACKGROUND: Each year, the City Manager is required to prepare a 5 Year Capital Improvements Plan and submit it to the Commission by December 15th. The Assistant City Manager and other city staff met in November to develop the attached Capital Plan for the equipment and capital needs of the Parking Fund. Similar to recent years past, we are bringing the various parts of the plan forward as items on the Consent agenda. We will be prepared to address questions, if they arise, at the public meeting. UNRESOLVED ISSUES: None. ALTERNATIVES: As suggested by the City Commission. If the Commission does not wish to adopt this schedule tonight, it can be scheduled for approval on a later agenda. 22 FISCAL EFFECTS: This step in the process has no fiscal effect. Once adopted, the Capital Improvements Plan becomes the basis of the City Manager’s Recommended Budget for FY21. Report compiled on: November 11, 2019 Attached: Parking Fund CIP Section 23   PARKING FUND FINANCIAL SUMMARY  Financial Summary Current YearFY20 FY21 FY22 FY23 FY24 FY25UnscheduledProjected Beginning Balance Dedicated to CIP 573,373$         743,113$            749,591$         633,535$        470,996$       202,149$      Plus:  Parking Revenues Dedicated to CIP63,800$           66,990$              70,340$           73,857$          77,550$         81,427$          Cash In Lieu of Parking  Plus:  Parking Revenues Dedicated to Capital 70,940$           74,487$              53,604$           53,604$          53,604$         53,604$          Plus:  Downtown TIF Interest Contribution 10,000$           10,000$              10,000$           10,000$          10,000$         10,000$          Plus:  TIF Contribution for parking lot redesign and improv. 280,000$         170,000$            ‐$                ‐$               ‐$                Less: Carryforward FY19 (45,000)$           Less:  Scheduled CIP Costs (adjusted) (210,000)$        (315,000)$           (250,000)$        (300,000)$       (410,000)$      (300)$             ‐$               Projected Year‐End Cash Dedicated to CIP 743,113$         749,591$            633,535$         470,996$        202,149$       346,881$      Assumptions Made for Revenue Estimates: Current YearFY20 FY21 FY22 FY23 FY24 FY25Estimated Annual Parking Fund Revenues 1,063,340$         1,063,340$              1,116,507$         1,172,332$        1,230,949$       1,292,496$        Estimated Growth in Revenues 0% 5% 5% 5% 5% 5%Total Estimated Revenues 1,063,340$         1,116,507$              1,172,332$         1,230,949$        1,292,496$       1,357,121$      Current Revenues Dedicated to CIP % 6.0% 6.0% 6.0% 6.0% 6.0% 6.0%  Plus:  Increase Dedicated to Capital Improvements % 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%  Total % Dedicated to CIP 6.0% 6.0% 6.0% 6.0% 6.0% 6.0%Total Estimated Revenues Dedicated to Capital 63,800$               66,990$                   70,340$               73,857$              77,550$             81,427$            ProjectedProjectedCURRENT$(315,000)$(250,000)$(300,000)$(410,000)$(300)$‐FY20 FY21 FY22 FY23 FY24 FY25 UNSCHEDULEDPARKING FUND CAPITAL PROJECTS 24   PARKING FUND PROJECT SUMMARY      Project # Project Name FY2021 FY2022 FY2023 FY2024 FY2025 UnscheduledP001WILLSON LOT REDESIGN      ‐                      ‐                      300,000              ‐                      ‐                       ‐                      P012  ARMORY LOT REDESIGN AND IMPROVEMENTS    ‐                      250,000              ‐                      ‐                      ‐                       ‐                      P017  ROUSE PARKING LOT RE‐DESIGN AND IMPROVEMENTS  280,000              ‐                      ‐                      ‐                      ‐                       ‐                      P024BLACK LOT IMPROVEMENTS ‐                      ‐                      ‐                      410,000              ‐                       ‐                      P025REPLACEMENT VEHICLE  35,000               GF346FACILITY CONDITION INVENTORY   ‐                      ‐                      ‐                      ‐                      300                      ‐                      FISCAL YEAR TOTALS315,000             250,000             300,000             410,000             300                      ‐                     25   PARKING FUND DETAIL BACKGROUND Parking Revenues are unpredictable; a large portion of the funds (roughly 50%) comes from parking enforcement (ticket/fine) revenues.  Parking operations do not generate adequate revenues to fund capital replacement or expansion projects.  The Parking Fund must rely heavily on the Downtown Tax Increment Finance (TIF) District to support its capital plan.  The Downtown TIF is planning to contribute $1,000,000 to Parking Capital between FY19‐FY21.  CAPITAL PLAN SUMMARY The Parking plan has the continuing the rotation of parking lot re‐design and resurfacing.  $584,593.00 $647,708.63 $788,713.00 $958,379.00 $958,504.00 $787,579.53  $‐ $200,000.00 $400,000.00 $600,000.00 $800,000.00 $1,000,000.00 $1,200,000.002015 2016 2017 2018 2019 Average FY15‐FY19Parking Fund Revenues26 Project Name YearDescription  AmountTotal Project #WILLSON LOT REDESIGN                               300,000          DESCRIPTION:                                      ‐                   IMPROVE THE PARKING LOT LAYOUT, SET‐BACKS,         ‐                   LANDSCAPING, SIGNAGE, LIGHTING, REQUIRED STORM     ‐                   WATER TREATMENT INFRASTRUCTURE REQUIREMENTS AND    ‐                   PARKING KIOSK.                                     ‐                   ALTERNATIVES CONSIDERED:                          ‐                   KEEP LOT AS IS                                     ‐                   ADVANTAGES OF APPROVAL:                           ‐                   IMPROVED FUNCTIONING OF PARKING LOT                ‐                   ADD OPERATING COSTS:                              ‐                   MINIMAL                                            ‐                   ARMORY LOT REDESIGN AND IMPROVEMENTS               250,000          DESCRIPTION:                                      ‐                   THIS PROJECT IS SCHEDULED AFTER THE COMPLETION OF  ‐                   THE ETHA HOTEL CONSTRUCTION PROJECT. LAYOUT, SET‐  ‐                   BACKS, LANDSCAPING, SIGNAGE, LIGHTING, SIDEWALKS,  ‐                   AND STORM WATER TREATMENT FACILITIES ARE BEING     ‐                   PLANNED.                                           ‐                   ALTERNATIVES CONSIDERED:                          ‐                   KEEP THE LOT AS IS.                                ‐                   ADVANTAGES OF APPROVAL:                           ‐                   BETTER FUNCTIONING AND SAFER PARKING LOT LAYOUT.   ‐                   WILL REDUCE A SIGNIFICANT AMOUNT OF UNTREATED      ‐                   STORMWATER RUNOFF. INCREASED REVENUE AND           ‐                   PARKING ASSET COORDINATION THROUGH THE             ‐                   IMPLEMENTATION OF PAY KIOSKS.                      ‐                   ADD OPERTING COSTS:                               ‐                   NEW ASPHALT WILL REQUIRE LESS MAINTENANCE, BUT     ‐                   PLANTINGS AND LANDSCAPING WILL REQUIRE ADDITIONAL  ‐                   MAINTENANCE.                                       ‐                   WILLSON LOT REDESIGN        2023300,000          P001  ARMORY LOT REDESIGN AND IMPROVEMENTS   2022250,000          P012  27 Project Name YearDescription  AmountTotal Project #ROUSE PARKING LOT RE‐DESIGN AND IMPROVEMENTS       280,000          DESCRIPTION:                                      ‐                   ROUSE LOT IMPROVEMENTS   LAYOUT, SET‐BACKS,        ‐                   LANDSCAPING, SIGNAGE, LIGHTING, SIDEWALKS, AND     ‐                   STORMWATER TREATMENT FACILITIES. THESE             ‐                   IMPROVEMENTS ARE SEPARATE FROM ANY CREEK           ‐                   RESTORATION PROJECT AND WILL ONLY INVOLVE THE      ‐                   SURFACE LOT.                                       ‐                   ALTERNATIVES CONSIDERED:                          ‐                   MAINTAIN CURRENT CONFIGURATION.                    ‐                   ADVANTAGES OF APPROVAL:                           ‐                   BETTER FUNCTIONING AND SAFER PARKING LOT LAYOUT.   ‐                   INCREASED REVENUE AND PARKING ASSET                ‐                   COORDINATION THROUGH THE IMPLEMENTATION OF         ‐                   PAY KIOSKS.                                        ‐                   ADD OPERATING COSTS:                              ‐                   NEW ASPHALT WILL REQUIRE LESS MAINTENANCE, BUT     ‐                   PLANTINGS AND LANDSCAPING WILL REQUIRE ADDITIONAL  ‐                   MAINTENANCE.                                       ‐                   BLACK LOT IMPROVEMENTS                             410,000          DESCRIPTION:                                      ‐                   IMPROVE THE PARKING LOT LAYOUT, SET‐BACKS,         ‐                   LANDSCAPING, SIGNAGE, LIGHTING, REQUIRED STORM     ‐                   WATER TREATMENT INFRASTRUCTURE REQUIREMENTS AND    ‐                   PARKING KIOSK.                                     ‐                   ALTERNATIVES CONSIDERED:                          ‐                   KEEP LOT AS IS                                     ‐                   ADVANTAGES OF APPROVAL:                           ‐                   IMPROVED FUNCTIONING OF PARKING LOT                ‐                   ADD OPERATING COSTS:                              ‐                   MINIMAL                                            ‐                   410,000          P024  BLACK LOT IMPROVEMENTS 2024ROUSE PARKING LOT RE‐DESIGN AND IMPROVEMENTS 2021280,000          P017  28 Project Name YearDescription  AmountTotal Project #REPLACEMENT VEHICLE 35,000            DESCRIPTION:                                      ‐                   REPLACE VEHICLE WITH AN ALL WHEEL DRIVE HYBRID ‐                   TO AID IN EFFICIENCY FOR PARKING OFFICERS TO GET ‐                   AROUND TOWN. ‐                   ALTERNATIVES CONSIDERED:                          ‐                   LEASE THE VEHICLE OR BUY THE TWO‐WHEEL DRIVE FOR ‐                   MINIMAL SAVINGS. ‐                   ADD OPERATING COSTS:                              ‐                   MAINTENANCE ‐                   FACILITY CONDITION INVENTORY                       300                  DESCRIPTION:                                      ‐                   CONDITION ASSESSMENT FOR ALL CITY‐OWNED FACILITIES ‐                   THIS PROJECTS BUILDS ON PREVIOUS EFFORTS WHILE     ‐                   ESTABLISHING  A RECURRING FIVE YEAR CYCLE BASED ON ‐                   INDUSTRY BEST PRACTICE (STRATEGIC PLAN 7.3).       ‐                   FUNDING WILL BE ALLOCATED ACROSS MULTIPLE DIVISION ‐                   BASED ON BUILDING SQUARE FOOTAGE.                  ‐                   ALTERNATIVES:                                     ‐                   CONTINUE TO RESPOND TO UNPLANNED MAINTENANCE NEEDS ‐                   ADVANTAGES:                                       ‐                   A COMPREHENSIVE INVENTORY OF ALL BUILDING          ‐                   DEFERRED MAINTENANCE WILL ALLOW FOR A MORE         ‐                   PROACTIVE APPROACH TO PRIORITIZING NEEDED REPAIRS  ‐                   RESULTING IN BETTER RISK MANAGEMENT AND REDUCED    ‐                   LIFECYCLE COSTS.                                   ‐                   ADD OPERATING COSTS:  NONE.                        ‐                   REPLACEMENT VEHICLE  202135,000            P025  FACILITY CONDITION INVENTORY  2025300                 GF34629