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HomeMy WebLinkAboutURD cash flow and priority analysis 2-12-21Category FY17 BUDGET FY17 YEAR END FY18 BUDGET FY18 YEAR END FY19 BUDGET FY19 YEAR END FY2020 BUDGET FY2020 YEAR END Income Starting Cash Balance 1,479,289$ 1,657,529 1,490,636 1,677,067 1,780,221 1,849,204 2,145,000 2,145,000 Income from TIF 430,000$ 430,000 430,000 422,638 430,000 423,923 430,000 819,836 COB Interlocal Share 472,500$ 472,500 500,000 782,076 800,000 846,962 875,000 865,414 Entitlement Share State of Montana 45,436$ 45,436 45,000 56,050 45,000 56,060 45,000 56,050 Interest Income 10,000$ 10,000 10,000 21,507 10,000 61,155 14,000 62,198 Other Income 3,000$ - - 0 3,338 Total Income 2,440,225$ 2,615,465 2,475,636$ 2,959,338$ 3,065,221$ 3,237,304$ 3,509,000$ 3,951,836$ Expenses OperationsManagement Fee and Administration 105,000$ 105,000 110,000 110,000 113,300 113,300 120,000 120,000 Project Management Contract 40,000 7,002 URD Management Contract/Employee 42,000 42,000 Total Operations 105,000$ 105,000 110,000$ 110,000 153,300$ 120,302$ 162,000$ 162,000 Infrastructure Improvements Street Furniture and Park Maintenance 7,500$ 7,500 10,000 14,745 12,500$ 8,018$ 10,000 8,436 North Black Pocket Park Construction 15,000 20,000$ 20,000 10,000 13,000 North Black Streetscape Construction - 80,000 80,000 - Streetscape--new purchases 25,000$ 20,000 25,000 37,534 25,000 6,783 25,000 31,509 North Rouse Streetscape ProjectStreetlamps (26 qty)85,000 - Tree Frames/Grates (24 qty)35,000 - Streetscape Assistance Grant Program 80,000$ 23,975 80,000 46,964 80,000 50,000 - Wayfinding Signage--fab & install 10,000$ 10,000 - Streetlamp Power Reconfiguration Project - - - 250,000 - Alley Improvement Program 25,000$ 25,000 25,000 4,500 25,000 2,503 Public Parking Improvements 250,000$ 250,000 250,000 250,000 250,000 209,127 250,000 250,000 Library Pedestrian Safety Improvements 10,000$ 10,000 10,000 Life-Safety/Code Compliance Grant Program 50,000$ - 50,000 5,635 50,000 50,000 8,697 Encumbered for Olive & Wallace - Fiber Infrastructure--Lamme Carry-Over 90,000 81,709 Fiber-Broadband Infrastructure--Grants 150,000$ 155,000 115,000 5,054 100,000 7,151 10,000 1,050 GVLT Burke Park Bridge Project Bridger Park LED Project Intersection Cable Anchor Repairs 50,000$ 29,354 10,000 12,730 Alternative Transportation Project 12,000 12,000 25,000 - Parking Garage Bus Shelters - 60,000 46,615 - Total Improvements 657,500$ 495,829 612,000$ 372,662$ 714,500$ 382,194$ 915,000$ 396,904$ Planning City Economic Development Technician 22,470 2,255 Technical Assistance Grants 50,000$ 20,000 50,000 - 50,000 15,000 50,000 18,000 Encumbered Funds 10,000$ - 31,000 18,000 10,500 7,500 7,500 Residential Incentive Program 200,000$ - 200,000 - 200,000 - 200,000 Hotel Incentive Encumbered Funds 100,000$ - 200,000 84,013 100,000 - 100,000 Hotel Incentive Program 100,000$ - - 100,000 - - Downtown Improvement Plan Update 80,000$ - 100,000 60,000 - - - DBIP: Transportation Planning 200,000 1,278 DBIP: Code Amendments 50,000 DBIP: Design Guidelines 50,000 DBIP: General Implementation 20,000$ 10,000 50,000 7,500 50,000 20,000 75,000 17,750 UDC Update Consultant 2,285 Sewer Flow Monitoring 48,835 Encumbered FY14 WTI Truck Route Study B3 3D Modeling Project -$ B3 Historic Inventory Update -$ B3 ZMA Project -$ City Wayfinding--Downtown Planning 5,000$ - 10,000 - - SILD & Streetscape Engineering 30,000$ 34,000 100,000 1,510 25,000 571 25,000 DURT Phase 1 Final Engineering -$ DURT Phase 1 Lighting Contribution Strategic Parking Plan--Data Collection 20,000$ 20,000 - Alternative Transportation Master Planning 5,000 - 5,000 - Structured Parking Feasibility Analysis 50,000 50,000 25,000 South Wallace Asbestos Project 75,000 - 75,000 Professional Services Term Contract 100,000 - 75,000 Streetscape Preliminary Engineering 25,000 19,959 Sewer Capacity and Buildout Analysis 25,000 19,940 15,000 Floodplain Analysis Phase 1 42,000 41,674Floodplain Analysis Phase 2 50,000 50,000$ 50,000$ - Total Planning 615,000$ 84,000 746,000$ 263,817$ 840,500$ 155,511$ 994,970$ 66,742$ Parking Structure Garage Bond Refinancing Fees 400,938 Garage Bond Payment 430,000$ 430,000 430,000 422,638 430,000 423,923 430,000 418,898 Garage Long-term Maintenance Fund 10,000$ 10,000 10,000 10,000 10,000$ 10,000$ - Total Parking Garage Payments 440,000$ 440,000 440,000$ 432,638$ 440,000$ 433,923$ 430,000$ 819,836$ Explosion Impact Fee Expenses Explosion Impact Fees 100,000$ - - Total Impact Fee Expenses 100,000$ - - Total Expenses 1,917,500$ 1,124,829 1,908,000$ 1,179,117$ 2,148,300$ 1,091,930$ 2,501,970$ 1,445,482$ 59% 62% 51% 58% Balance 522,725$ 1,490,636 567,636$ 1,780,221$ 916,921$ 2,145,374$ 1,007,030$ 2,506,354$ 2017 2018 2019 2020 2021 Average 472,500 782,076 846,962 865,414 1,400,000 741,738 65.5% 8.3% 2.2% 61.8% 34.4% Worst Expected Best 3.0%5.0%8.0% Scenarios DOWNTOWN URBAN RENEWAL DISTRICT Downtown URD FY20-FY30 Cash Flow ProjectionsFY2021 FY2022 FY2023 FY2024 FY2025 FY2026 FY2027 FY2028 FY2029 FY2030 FY2031 FY2032 TOTALSOURCES:Income from TIF 335,000                   335,000                335,000                335,000                335,000                335,000                335,000                    335,000                    335,000                    335,000                    335,000                    335,000                    4,020,000                Entitlement Share 56,050                      56,050                   56,050                   56,050                   56,050                   56,050                   56,050                       56,050                       56,050                       56,050                       56,050                       56,050                       672,600                    Interest Income 20,000                      20,000                   20,000                   20,000                   20,000                   20,000                   20,000                       20,000                       20,000                       20,000                       20,000                       20,000                       240,000                    COB Interlocal Share:Worst Case (3% Annual Growth) 1,400,000               1,442,000            1,485,260            1,529,818            1,575,712            1,622,984            1,671,673                1,721,823                1,773,478                1,826,682                1,881,483                1,937,927                19,868,844             Expected Case (5% Annual Growth) 1,400,000               1,470,000            1,543,500            1,620,675            1,701,709            1,786,794            1,876,134                1,969,941                2,068,438                2,171,860                2,280,452                2,394,475                22,283,982             Best Case (8% Annual Growth) 1,400,000               1,512,000            1,632,960            1,763,597            1,904,685            2,057,059            2,221,624                2,399,354                2,591,302                2,798,606                3,022,495                3,264,295                26,567,985             TOTAL SOURCES ‐ WORST CASE 1,811,050$            1,853,050$         1,896,310$         1,940,868$         1,986,762$         2,034,034$         2,082,723$             2,132,873$             2,184,528$             2,237,732$             2,292,533$             2,348,977$             24,801,441$          TOTAL SOURCES ‐ EXPECTED CASE 1,811,050$            1,881,050$         1,954,550$         2,031,725$         2,112,759$         2,197,844$         2,287,184$             2,380,991$             2,479,488$             2,582,910$             2,691,502$             2,805,525$             27,216,577$          TOTAL SOURCES ‐ BEST CASE 1,811,050$            1,923,050$         2,044,010$         2,174,647$         2,315,735$         2,468,109$         2,632,674$             2,810,404$             3,002,352$             3,209,656$             3,433,545$             3,675,345$             31,500,577$          USES:Operational Budget (3% Annual Growth) 175,000                   180,250                185,658                191,227                196,964                202,873                208,959                    215,228                    221,685                    228,335                    235,185                    242,241                    2,483,605                Total Parking Garage 335,000                   335,000                335,000                335,000                335,000                335,000                335,000                    335,000                    335,000                    335,000                    335,000                    335,000                    4,020,000                Improvements:Encumbered Items 964,000                   964,000                    Unencumbered Items‐                               Total Improvements 964,000                   ‐                           ‐                           ‐                           ‐                           ‐                           ‐                               ‐                               ‐                               ‐                               ‐                               ‐                               964,000                    Planning:Encumbered Items 1,708,790               1,708,790                Unencumbered Items‐                               Total Planning 1,708,790               ‐                           ‐                           ‐                           ‐                           ‐                           ‐                               ‐                               ‐                               ‐                               ‐                               ‐                               1,708,790                TOTAL USES 3,182,790$            515,250$             520,658$             526,227$             531,964$             537,873$             543,959$                 550,228$                 556,685$                 563,335$                 570,185$                 577,241$                 9,176,395$             NET ANNUAL CASHFLOW ‐ WORST CASE (1,371,740)$          1,337,800$         1,375,653$         1,414,641$         1,454,798$         1,496,161$         1,538,764$             1,582,645$             1,627,843$             1,674,397$             1,722,348$             1,771,736$             15,625,046$          NET ANNUAL CASHFLOW ‐ EXPECTED CASE (1,371,740)$          1,365,800$         1,433,893$         1,505,498$         1,580,795$         1,659,971$         1,743,225$             1,830,763$             1,922,803$             2,019,574$             2,121,317$             2,228,284$             18,040,182$          NET ANNUAL CASHFLOW ‐ BEST CASE (1,371,740)$          1,407,800$         1,523,353$         1,648,420$         1,783,771$         1,930,236$         2,088,715$             2,260,176$             2,445,668$             2,646,321$             2,863,360$             3,098,104$             22,324,182$          BEGINNING CASH BALANCE 3,100,000               1,728,260            3,066,060            4,441,713            5,856,353            7,311,151            8,807,312                10,346,076             11,928,722             13,556,565             15,230,962             16,953,310             16,953,310             ENDING CASH BALANCE ‐ WORST CASE 1,728,260$            3,066,060$         4,441,713$         5,856,353$         7,311,151$         8,807,312$         10,346,076$          11,928,722$          13,556,565$          15,230,962$          16,953,310$          18,725,046$          18,725,046$          ENDING CASH BALANCE ‐ EXPECTED CASE 1,728,260$            3,094,060$         4,499,953$         5,947,210$         7,437,148$         8,971,123$         10,550,537$          12,176,839$          13,851,525$          15,576,139$          17,352,279$          19,181,594$          19,181,594$          ENDING CASH BALANCE ‐ BEST CASE 1,728,260$            3,136,060$         4,589,413$         6,090,132$         7,640,124$         9,241,388$         10,896,027$          12,606,252$          14,374,389$          16,202,886$          18,094,322$          20,051,413$          20,051,413$          URD cash flow and priority analysis 2‐12‐21 Description  Project Cost  Additional  Spaces Cost per Space Parking Decks on Surface Lots 4,908,557.58$     145 33,852.12$         Bridger Park Garage Expansion Option 2: Expansion + Roof 4,740,000.00$     125 37,920.00$         Option 2b: Expansion, No Roof 3,930,000.00$     143 27,482.52$         Option 2c: Expansion + Roof 5,170,000.00$     143 36,153.85$         2nd Parking Garage 18,000,000.00$   425 42,352.94$         Structured Parking Costs Category Sub‐Category Low Est. High Est. Notes Heart of a Thriving City 1 Create a Downtown Infrastructure and Public Realm Plan 50,000                100,000               2 Increase the number of on‐street parking spaces by transforming  Main Street to 3 lanes with diagonal parking 228,000              1,128,000            3 Develop an employee paid parking permit system 10,000                20,000                 4 Expand and clarify parking signage 15,000                30,000                 5 Expand structured parking 22,108,000        27,108,000         Subtotal 22,411,000        28,386,000         than Main Street 6 Alleviate navigational challenges on Wallace Avenue by removing  parking 8,000                  25,000                 7 Extend Babcock east into Library Parking Lot ‐                        ‐                        8 Expand Grand Avenue as Downtown's cultural arts heart 25,000                210,000               9 Enhance Black Avenue as Bozeman's downtown bike hub 1,009,000           1,035,000            10 Enhance Rouse Avenue as downtown's civic corridor 5,000                  10,000                 11 Continue to implement the streetscape improvement program 4,720,000           5,900,000            12 Promote smaller alley‐based retail/offices. 5,000                  15,000                 13 Activate the alleys with unique character 35,000                65,000                Cost per alley, 11 blocks  remaining 14 Use alleys as secondary connectors ‐                        ‐                        15 Plan for maintenance, business operations and winter needs in  the alleys 46,800                62,400                cost per year Subtotal 5,853,800          7,322,400           ble and Accessible 16 Create a Downtown Circulator with a park‐and‐ride link 858,000              858,000              $400,000 for paving fairground parking lot $368,000 for each additional bus purchased $90,000 annual operating cost for circulator/shuttle 17 Create bike and transit connections between key destinations and  downtown ‐                        ‐                        18 Partner to install EV charging stations around Downtown 10,000                25,000                per charging station 19 Designate ride share pick‐up and drop‐off locations 10,000                30,000                 20 Promote and expand services that complement carless living.‐                        ‐                        21 Introduce a coordinated bike share program 242,000              306,000              $170,000 - $210,000 start up equipment $72,000 - $96,000 annual operating 22 Increase the number of on‐street parking spaces by transforming  Main Street to 3 lanes with diagonal parking ‐                        ‐                        23 Create a protected 2‐way cycle track on Babcock ‐                        ‐                        24 Improve Mendenhall's bike facilities to a "super sharrow"‐                        ‐                        Subtotal 1,120,000          1,219,000           ming to Everyone 25 Reserve public parking space for affordable housing  developments ‐                        ‐                        26 Create Downtown Design Guidelines 85,000                165,000               27 Ensure new design guidelines supplement general categories in  Section 38.340 of the code ‐                        ‐                        28 Encourage code flexibility for existing and new buildings ‐                        ‐                        29 Align maximum building height with Community Plan 2,000                  5,000                   30 Explore Gentle Infill; Consider Unique Needs of Narrow or Small  Parcels ‐                        ‐                        Subtotal 87,000                170,000               to Nature and Culture 31 Revitalize the creeks and drainage systems for improved  ecological health and community benefit.  115,000              150,000               32 Restore and create access to Bozeman Creek 10,000                30,000                 33 Restore and create access to Bozeman Creek 10,000                30,000                 34 Reimagine Soroptomist Park 270,000              1,040,000            35 Partner with the Parks Department to supplement revenue  streams through private development opportunities ‐                        ‐                        36 Connect the more passive outer ring parks to the downtown  neighborhoods that rely on them ‐                        ‐                        Subtotal 405,000              1,250,000           GRAND TOTAL 29,876,800        38,347,400         Non‐Parking Related Items 7,768,800          11,239,400         DBIP Implementation Cost Estimates (As of 12/15/2020)