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SR 06:079
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SR 06:079
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3/30/2006 2:58:04 PM
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CITY CLERK
CITY CLERK - TYPE
STAFF REPORTS
DOCUMENT DATE
4/4/2006
DESTRUCT DATE
15 Y
DOCUMENT NO
SR 06:079
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<br />Mayor Hosterman thanked Mr. Resnick for the report on the Foundation and was <br />pleased to see how far along it was towards the goals for the Arts Center. <br /> <br />Steve Brozosky indicated $6 million was allocated to get this project started and <br />was never intended to finance the whole project. It was estimated the whole project <br />would cost $8 million and the fundraising would cover the remainder. He believed the <br />challenge was how to phase the construction and programming of the facility. He was <br />excited about the professionalism of the members of the Foundation. It is unique to <br />have an organization with artistic abilities, business. and fundraising abilities. He <br />wanted discussion of phasing plans, how to get it through all the commission reviews, <br />the PUD the planning process, and finally the bidding and construction processes. He <br />felt a timeline could assist the Foundation in raising funds for specific milestones. He <br />asked if there were a way to determine what each program would cost. <br /> <br />Mr. Jorgensen requested the Council and Commission to provide input to staff, <br />take public testimony, and give direction on what programming to begin with. <br /> <br />Mr. Brozosky asked if the intent was for staff to come back with a phasing plan <br />and a timeline for drawing completion, bidding, public hearing schedule, etc. until <br />groundbreaking. <br /> <br />Nelson Fialho indicated there had been discussions with the architect and the <br />goal was to bring back strategic milestones that could match the phasing of building the <br />shell and determining what programmatic elements could be implemented sooner rather <br />than later. That allows staff to present everything from a timeline and financial <br />standpoint and then Council can prioritize what it wants to fund at the beginning. That <br />gives an opportunity for the Cultural Arts Council to do more refinement of its <br />fundraising plans. He believed that information could be available in the next couple of <br />months. <br /> <br />Cindy McGovern liked the design of the theater. She had some questions about <br />the financial slides and discrepancies between figures on two of the slides. <br /> <br />Mr. Schindler, the architect, responded that the contractor's costs (general <br />conditions, overhead and profit) are budgeted as 15% of the entire project. They took <br />out a portion of the costs for the completion of the building. At the end of the slide, they <br />added the shell cost back in. If one adds $4.8 million for the shell cost with $3.5 million, <br />that equals the total cost of $8.4 million. <br /> <br />Ms. McGovern said it looks like the shell could be built for $4.8 million with a <br />contingency of 10% included. From the overhead profit, they would make only <br />$250,000. She felt the numbers did not make sense. Her next question was about the <br />contingency, since she believed the city usually provided a 20%. <br /> <br />James Wolfe said contingencies vary from 5% to 12%. <br /> <br />Joint Workshop <br />City CouncillCivic Arts Commission <br /> <br />2 <br /> <br />09/06105 <br />
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