PUBLIC INFRASTRUCTURE
BOND DISCUSSION
C I T Y C O U N C I L
J U L Y 1 6 , 2 0 2 4
INCLUDING
FAIRBANK, MASLIN, MAULLIN, METZ & ASSOCIATES, INC. (FM3)
VOTER SURVEY DATA
COUNCIL DIRECTION - JUNE 11, 2024
Survey Voters on General Obligation Bonds
• FM3 to Present Results of Likely Voter Survey
Explore Consolidating Police Facilities
Examine Options to Reconfigure Fire Resources
UPDATED FACILITIES COST ANALYSIS
City Facilities Examined
• Fire Stations 1 and 2
• Police Headquarters and Annex
• Consolidated Options Included
• Public Works Yard
• City Hall
Facility
Option 1:
Renovation
Option 2:
New Construction
(Police HQ Site)
Option 3:
New Construction
(Police Annex Site)
Fire Station #1 $11,423,924 $17,536,326 $17,536,326
Fire Station #2 $7,851,486 $26,149,389 $26,149,389
Police Department HQ $12,705,507 $94,763,316 Included Below Police Department Annex $10,777,123 Included Above $95,644,316 Public Works Yard $6,157,859 $19,621,970 $19,621,970
City Hall $36,171,000 $64,506,000 $64,506,000
TOTAL PROJECT COSTS $85,086,899 $222,577,001 $223,458,001
FIRE STATION OPTIONS
Increase Station 2 Footprint
• 3-Bay Facility
• 15 On-Duty Personnel Each Day
• Absorb Ladder Truck from Station 1
Station 1 Could Be Reconfigured
• Accommodate Fire Administration
• Possible Addition of an Ambulance Unit
COST ANALYSIS APPLICATION
Pick and Choose Format
• Renovate Facilities
• Construct New Facilities
• Exclude Certain Facilities
• Option Below
• Rebuild Fire Stations 1 and 2
• Renovate Police Department Facilities
• Exclude Public Works Yard and City Hall
• Additional 10% Contingency
Facility Proposed Bond Add'l 10% Contingency
Fire Station #1 (New Construction) $17,536,326 $19,289,959 Fire Station #2 (New Construction) $26,149,389 $28,764,328 Police Department HQ (Renovation) $12,705,507 $13,976,058 Police Department Annex (Renovation) $10,777,123 $11,854,835 TOTAL PROJECT COSTS $67,168,345 $73,885,180
COUNCIL DIRECTION
• Whether or Not to Proceed with Preparation of a Bond Measure • Identify City Facilities to Include
• Determine the Total Amount and Proposed Bond Issuance
PUBLIC INFRASTRUCTURE
BOND DISCUSSION
C I T Y C O U N C I L
J U L Y 1 6 , 2 0 2 4
INCLUDING
FAIRBANK, MASLIN, MAULLIN, METZ & ASSOCIATES, INC.
VOTER SURVEY DATA
FACILITIES COST ANALYSIS
Examined Key City Facilities
• City Hall
• Police Headquarters and Annex
• Public Works Yard
• Fire Stations 1 and 2
• City Hall
TIMELINE
Prior to August 6th
Must Determine
• If Bond is Desired
• Public Facilities to Include
• Total Amount of Bond Issuance
Council to Approve
• Resolution of Public Necessity (2/3 Vote of Council)
• Ordinance Ordering Submission of General Obligation
Bond to the Public
⚬ Requires 2 Readings, Takes Effect Immediately
• Resolution Placing the Bond Measure on the Ballot and Requesting Consolidation with the Statewide General
Election
Following August 6th
Staff to Engage
• Municipal Advisor
⚬ Determine Schedule, Provide Additional Advice Related to Bond Issuance
• Bond Counsel
⚬ Issue legal opinion that City has met all legal and
procedural requirements
• Underwriter
⚬ Help City to Structure, Price, and Facilitate the Sale of Bond Issuance
TIMELINE
VOTER THRESHOLD
Current Law
• General Obligation Bonds Require 2/3 Vote of the People ACA 1
Proposed Constitutional Amendment
November General Election
Lower Voter Threshold to 55% for Construction, Reconstruction, Rehabilitation, or Replacement of Public Infrastructure and Other Items
Includes Open Space
Includes Enhanced Accountability Measures