What is the 10 year cost for the Recreation Center?
Town of
(
Municipal Needs Committee
2008 Town Warrant Supporting Material
Presented to Selectboard
The Municipal Needs Committee had a work session on March 4th and the below two Warrant Articles were a matter of concern and discussion:
ARTICLE 9
To see if the Town will vote to raise and appropriate the sum of $375,000.00 for architectural, engineering, and related fees relative to the eventual construction of a community/senior center, fields, and related outdoor improvements.
ARTICLE 10
To see if the Town will vote to establish an expendable general trust fund, with the Selectmen as agents to expend, under the provisions of RSA 35:1 to be known as the Community/Senior Center Fund for the purpose of constructing and/or developing a community/senior center and related expenses and to raise and appropriate the sum of $100,000.00 toward this purpose.
To assist the Selectboard and members of the community who ask “What is the $475,000 for?” the MNC has prepared the attached one page summary document. Values are extracted from the RSPT proposal and appendices. The new RSPT promotional flyer omits critical data needed for decision-making.
The warrant requests a specific dollar amount because the RSPT does have a specific concept to buy design plans for and do have specific cost estimates that were the basis for the A&E request. The MNC believes these initial cost estimates should be openly shared with the public. The MNC used the voluminous RSPT documents to produce a chart summarizing projected costs over the ten-year bond period. It identifies areas where costs were omitted demonstrating the burden will be higher than stated. Revenue and fees are not yet disclosed and excluded here.
Given the effort of the MNC to fully grasp the details within the ambitious RSPT proposal, the MNC wanted to share that same level of understanding with the Selectboard, and anticipate you will then share this with the public.
2008 Town Warrant Supporting Material
ARTICLE 9
To see if the Town will vote to raise and appropriate the sum of $375,000.00 for architectural, engineering, and related fees relative to the eventual construction of a community/senior center, fields, and related outdoor improvements.
ARTICLE 10
To see if the Town will vote to establish an expendable general trust fund, with the Selectmen as agents to expend, under the provisions of RSA 35:1 to be known as the Community/Senior Center Fund for the purpose of constructing and/or developing a community/senior center and related expenses and to raise and appropriate the sum of $100,000.00 toward this purpose.
What is this funding for? What is the anticipated future project cost?
Item Description Item Cost Comments
|
Article 9: A&E and Fees Town Warrant 2008 |
$ 375,000 |
Approx 8% of estimated project cost to refine projected costs, finalize design plus some additional site analyses |
|
RSPT Estimated Bldg Cost |
$ 5,024,000 |
Pg. 35 RSPT proposal |
|
Interest on 10 Yr Bond |
$ 1,247,500 |
$5 M @ 4.25% for 10 Years |
|
Projected Operating Costs over 10 Year Bond (Adds 4 Full-time plus 4 Part-time employees to Recreation Staff) |
$ 3,198,300 |
RSPT proposal appendix (amount omits annual maintenance costs after year-one warranties expire, and excludes annual inflation factor on salaries, benefits, etc.) |
|
Recreation Fields and Beach Improvements |
$ 1,536,000 |
Pg. 6 RSPT proposal (amount omits any future maintenance costs) |
|
Recreation Feasibility Study |
$ 50,000 |
Town Meeting 2006 authorization |
|
Initial Lion’s Club purchase |
$ 495,000 |
Town Meeting 2007 authorization |
|
Projected Total Recreation Study & Implementation |
$11,925,800+ |
Full RSPT proposal in today’s dollars |
|
Average Annual Cost - 10 Years |
$ 1,200,000+ |
Approx $0.42 per $1000/Assessed Value |
|
Omitted Operational Costs |
$ ??????+ |
Adds approx. 5% - 10% annually |
NOTE: After the bond is fully paid, operational costs will run about $500,000 annually (or $0.25 per $1000/Assessed Value) before any future expansion.
|
Future Site Expansion |
$ ?????? |
Pool ($2,286,000 + interest + annual operating costs and 7 more staff members) pulled from consideration by RSPT Dec ‘07 |
0 TrackBacks
Listed below are links to blogs that reference this entry: What is the 10 year cost for the Recreation Center? .
TrackBack URL for this entry: http://moultonboroughcitizensalliance.org/blog/mt-tb.cgi/101
Leave a comment