City Council Study Session
Project Costs & Funding
December 15, 2025
2 CAPITAL COSTS & FUNDING
Phased approach with developing estimated project costs Phase 1: $392M
• Land purchase ($65.5M)
• Repairs
• Recreation Wellness Center (new)
• Education & Enrichment (renovated)
• Performing Arts Center (renovated)
Multiple Funding Sources – over time:
1. Tax Measure – Sales or Parcel Tax (ongoing)
2. Development Impact Fees & Grants (one-time)
3. Partner Contributions & Philanthropy (one-time)
3 POTENTIAL FUNDING – New Tax Revenues
1. New Tax Revenues - November 2026 Measure
SALES TAX – Funding up to $218 million with 0.5% (1/2 cent) sales tax • Authority: requires state authorization to increase, currently ¼ cent remains. • To keep options open, staff will work on next steps for statutory authorization • Support from non-resident purchase (i.e. resident vs non-resident sales tax) • Business community outreach and engagement
PARCEL TAX – Funding up to $102 million with $250 average annual cost per household 4 3. Partner Contributions & Philanthropy
• Securing significant financial support charts a path towards Recreation & Wellness and Performing Arts Center constructed sooner with Phase 1 POTENTIAL FUNDING – Other Sources
2. Development Impact Fees
• Community center and parks
development impact fees to fund
eligible costs
• Compliance with state law and
follow accounting and reporting
requirements of the use of these
fees