SR 06:062 - Laserfiche WebLink

BUDGET AND ESTIMATED COST OF IMPROVEMENTS The current available funding for this project is $2,116,236, from the Parks CIP Fund (derived from the City's General Fund, Park Dedication Fees, and Public Facilities Fees), and $179,260 from a State Parks bond allocation (a total of $2,295,496). Staff recently asked Ian Leverton & Associates, project cost estimators, to update an earlier estimate for the project's construction cost. Conditions of this estimate included estimating for a spring, 2006 construction start, updating materials and fuel costs, and adding an "allowance" for the legal removal of any toxic substances on the site. The resulting Estimate of Probable Cost is $4,022,730, including a construction contingency for any unforeseen field conditions or changes in the work that may be required. This results in a shortfall of approximately $1,727,234. Attachment A includes a project illustration and cost breakdowns for all major elements of the park. DISCUSSION In order to complete the entire project as proposed by the Parks and Recreation Commission and Project Task Force, it would be necessary to direct additional funds to the project. As requested by the Council, the Commission reviewed the project's status and considered funding options, including a phased approach, at its August 2005 meeting. The Commission reviewed existing CIP projects and potential fund balances, identifying approximately $543,000 that could be transferred to offset the project shortfall. This included $153,000 from the Sutter Gate Park Expansion Project, CIP #047016; $280,000 from Aquatic Center Expansion Phase II, CIP #007036; $50,000 from South Pleasanton Neighborhood Park, CIP #017042; and approximately $59,000 raised through the two (2) "Udder Event" fundraisers. Even with these transfers, the project would still be nearly $1.2 million short. As an additional alternative, the Commission expressed interest in using In-Lieu Park Dedication fees to make up the funding shortfall. Staff explained that in 1998, when the City Council adopted the Public Facilities Fee plan, it was determined that Park In-Lieu fees collected after January 1999 would be used solely for the purchase of future park land. Although State law allows for Park In-Lieu fees to be used for improvements to community parks, the Council wanted to avoid the perception that development was being "double charged" with the adoption of the Public Facilities Fees. The Commission, however, still felt this was a viable funding alternative and included it as an option for the Council to consider. Copies of the Commission minutes are included as Attachment B. Alternatively, the project's improvements could be significantly scaled back to allow for park construction within the existing budget - and possibly for the additional funds described above. For example, by eliminating some of the major improvements, namely the Milking Barn/Visitor's Center, Bunkhouse and Interpretive Program, a cost reduction of approximately $1.21 million could be achieved. This strategy would still allow for the development of major SR 06:062 Page 4