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HomeMy WebLinkAboutE.2 Fire Impact Fee report IFAC 11.5.20pdf  FIRE IMPACT FEE FUND FINANCIAL SUMMARY  Financial Summary Current YearFY21 FY22 FY23 FY24 FY25 FY26 UnscheduledProjected Beginning Reserve Balance Dedicated to CIP 3,240,071$      3,736,363$         4,247,544$      4,774,060$     5,316,371$    5,874,952$    ‐$                   Plus:  Impact Fee Revenues Dedicated to CIP 496,292$         511,181$            526,516$         542,312$        558,581$       575,338$       ‐$                   Less:  Scheduled CIP Project Costs ‐$                 ‐$                    ‐$                 ‐$                ‐$               ‐$               (7,265,000)$   Projected Year‐End Cash Dedicated to CIP 3,736,363$      4,247,544$         4,774,060$      5,316,371$     5,874,952$    6,450,291$    Assumptions Made for Revenue Estimates: Current YearFY21 FY22 FY23 FY24 FY25 FY26Estimated Annual Fire Impact Fee Revenues 496,292$             496,292$                 511,181$            526,516$           542,312$          558,581$             Estimated Annual Increase 0.0% 3% 3% 3% 3% 3%Total Estimated Revenues 496,292$             511,181$                 526,516$            542,312$           558,581$          575,338$           Current Revenues Dedicated to CIP % 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%  Plus:  Increase Dedicated to Fire Capacity Expansion CIP 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%  Total % Dedicated to CIP 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%Total Estimated Revenues Dedicated to CIP 496,292$             511,181$                 526,516$            542,312$           558,581$          575,338$           ProjectedProjected$‐$‐$‐$‐$‐$‐$(7,265,000)FY21 FY22 FY23 FY24 FY25 FY26 UNSCHEDULEDFIRE IMPACT FEE PROJECTS    FIRE IMPACT FEE FUND PROJECT SUMMARY     Project Project Name FY2022 FY2023 FY2024 FY2025 FY2026 UnscheduledFIF06 FIRE STATION 4 ‐                   ‐                   ‐                   ‐                   6,565,000         FIF07 RESPONSE APPARATUS ‐                   ‐                   ‐                   ‐                   700,000             Fiscal Year totals  ‐                   ‐                   ‐                   ‐                   7,265,000        Project Project Name FY2022 FY2023 FY2024 FY2025 UnscheduledFIF06 FIRE STATION 4 ‐                   ‐                   ‐                   ‐                   4,500,000          FIF07 RESPONSE APPARATUS ‐                   ‐                   ‐                   ‐                   700,000             Fiscal Year totals  ‐                   ‐                   ‐                   ‐                   5,200,000         Prior Year CIP RequestsCurrent Year CIP Requests   FIRE IMPACT FEE FUND DETAIL BACKGROUND Our Fire Master Plan, which just recently has been adopted, proposed relocation of Station 1 and Station 2 to handle capacity expansion rather than build station 4.  Currently, the City is undergoing an impact fee study where the possibility of impact fee funding could be used. For this reason, the station 4 and vehicle will remain unscheduled. Below is the last five years of impact fee revenue and the average:   CAPITAL PLAN SUMMARY Fire Station 4 and engine are unscheduled. We are currently strategizing the placement of this fire station and looking at the costing of staffing and possible need for bond funding and operational levy. This works towards the Strategic Plan vision 3) A Safe, Welcoming Community.    $298,000 $430,000 $348,000 $328,043 $599,365 $646,969 $559,083 $496,292  $‐ $100,000 $200,000 $300,000 $400,000 $500,000 $600,000 $700,0002014 2015 2016 2017 2018 2019 2020 5‐YearAverageFire Impact Fee Revenues Name  Year Description Amount Total  Project #FIRE STATION CONSTRUCTION / EXPANSION / RELOCATION6,500,000               DESCRIPTION:                                      ‐                           THE FIRE MASTER PLAN IS COMPLETED AND ADOPTED 4/2017. ‐                           THE MASTER PLAN INCLUDES A COMPREHENSIVE REVIEW OF    ‐                           THE CITY ALONG WITH RECOMMENDATIONS FOR NEW FIRE   ‐                           FIRE STATIONS. FIRE STATION 1 IS BEING RELOCATED   ‐                           WITH THE BPSC AND THE RELOCATION OF FIRE STATION 2 ‐                           IS PLANNED IN THE GENERAL FUND FOR FY23. THESE TWO ‐                           RELOCATIONS CAN DELAY THE 4TH FIRE STAITION UP TO  ‐                           TO TEN YEARS.                                      ‐                           ALTERNATIVES:                                     ‐                           NONE                                               ‐                           ADD OPERATING                                     ‐                           THE ADDITIONAL FIRE STATION WOULD HAVE ANNUAL      ‐                           OPERATINF COSTS THAT INCLUDES PERSONNEL OF         ‐                           $1,200,000.001% FOR ART65,000                    FIRE DEPARTMENT RESPONSE APPARATUS                 700,000                  DESCRIPTION:                                       ‐                           FIRE STATION 4 WILL NEED RESPONSE APPARATUS       ‐                           THIS COULD INCLUDE RANGING FROM SUVS TO FIRE      ‐                           ENGINES TO LADDER TRUCKS TO HANDLE THE CITY'S     ‐                           EMERGENCY RESPONSE LOAD                           ‐                           Fire Station 4            Unscheduled6,565,000$           FIF06Response Apparatus      Unscheduled700,000$              FIF07