[00:00:01]
ALL RIGHT, WE'LL GET GOING HERE.UM, SO I PASSED OUT TO EVERYBODY, A COPY OF THE SLIDES YOU'LL HAVE TODAY FOR THE BENEFIT OF THE PUBLIC.
WE'LL POST ALL THIS ON THE COMMITTEE'S WEBSITE, SO WE'LL HAVE ACCESS TO THAT.
UH, IN ADDITION TO THE SLIDES, YOU'VE GOT, UH, AN UPDATED COST BREAKDOWN FROM, UH, BRIAN RICHTER WITH CNI, UH, ATTACHED.
AND THEN YOU'VE ALSO GOT ATTACHED THE MEMO FROM NEIL SHAFER REGARDING THEIR ASSESSMENT OF THE CONNECTION AT CROCKETT ROAD.
UM, AGAIN, WE'LL I'VE GOT ABOUT 20 OR SO SLIDES TO RUN THROUGH.
MOST ARE RELATED TO EITHER UPDATING WHAT WE KNOW OR ON THE FACILITY AND FROM THE TIME YOU GOT THE COMMITTEE'S REPORT AS FAR AS SOME COST UPDATES, THE, AGAIN, THE TRAFFIC STUDY REVIEW, UH, THOSE KIND OF THINGS.
UM, TALK ABOUT WHATEVER DECISION MAKING PROCESS YOU ALL, UH, WANT GOING FORWARD.
WE'LL TALK ABOUT THE CAPITAL BUDGET STATUS IN TERMS OF THIS POTENTIAL PROJECT RELATIVE TO OTHER SIGNIFICANT PROJECTS IN THE CIP.
AND THEN KIND OF WHAT ARE THE FUNDING OPPORTUNITIES FOR THIS PROJECT AND THE OTHER PROJECTS THAT NEED SOME ADDITIONAL FUNDING.
KIND OF JUST THE STATUS OF OUR OVERALL KIND OF CIP FUNDING OVER THE NEXT TWO TO THREE YEARS.
'CAUSE REMEMBER, NONE OF THESE PROJECTS ARE A SINGLE YEAR PROJECT, RIGHT? THEY CARRY OVER INTO MULTIPLE, THEY HAVE PHASES AND MULTIPLE FISCAL YEARS AND WE'VE GOT DIFFERENT POTS OF MONEY.
AND SO IT'S KIND OF A PUZZLE PIECING TOGETHER.
UM, BUT THAT'S KIND OF WHAT MY PLAN WAS TODAY.
UM, WE CAN OBVIOUSLY GO IN WHATEVER DIRECTION Y'ALL WANT TO GO AS WE GO THROUGH ALL THIS.
SO, UM, KIND OF GO THROUGH WHAT, UH, SINCE YOU'VE, SINCE THE COMMITTEE COMPLETED THEIR WORK AND PROVIDED YOU, UM, THE REPORT, WHAT KIND OF WE'VE DONE HERE.
UM, WE TALKED ALL ALONG ABOUT IF WE'RE GONNA DO THIS, THAT IT MAKES SENSE TO DO THE PARK OFFICE AS PART OF THIS PROJECT, WHICH WOULD BE OFFICE SPACE AND, UH, SOME AREA FOR FLEET PARKING.
SO BRIAN WITH CNI HAS GONE AND KIND OF, UH, GET A DRAWING AS TO SHOW WHAT THAT LOOKS LIKE.
UH, AND SOME COST ESTIMATES AND WE'LL GO OVER THAT IN IN A FEW MINUTES.
UH, WE HAD NEIL SCHAEFFER LOOK AT THE, UM, BOTH THE PARKING NUMBER AND THE, UH, CONNECTION TO CROCKETT ROAD.
AND THEY CAME BACK WITH ON THE, THE PARKING THING.
REALLY, THEY, THERE'S NOT A LOT OF GOOD DATA OUT THERE.
THEY SEARCHED ALL AROUND THE COUNTRY.
UM, DID SOME ANALYSIS, AND AGAIN, THAT'S DETAILED IN YOUR MEMO, BUT CAME BACK TO RECOMMENDING WHAT THEY THINK IS STILL A CONSERVATIVE NUMBER OF 212 PARKING SPACES.
I THINK BEFORE IT WAS THREE 40 SOMETHING OR WHATEVER.
SO THAT'S BEEN, UH, CUT DOWN AND REFLECTED ON, ON THE REVISED DRAWINGS.
AND THEN AS FAR AS IF WE HAVE A CONNECTION OUT TO CROCKETT, UM, THEIR RECOMMENDATION AND TRAFFIC ASSESSMENT IS THAT IT SHOULD HAVE AN EASTBOUND LEFT TURN LANE ON CROCKETT.
SO THAT WOULD REQUIRE SOME WIDENING IMPROVEMENTS FOR A SECTION OF CROCKETT ROAD THERE FOR AN ACCESS POINT.
UM, SO WE'VE GOT UPDATED COSTS, COST ESTIMATES BASED ON THOSE CHANGES, WHICH WE'LL SHOW YOU IN A MINUTE.
AND THEN WANNA TALK A LITTLE BIT JUST ABOUT IF WE DID THIS, HOW WE THE CITY WOULD OPERATE IT IN TERMS OF ACCOUNTING RELATIVE TO, UH, AS AN ENTERPRISE FUND AND KIND OF WHAT THAT DOES TO THE FINANCIALS OF THINGS.
SO, SO THIS IS THE REVISED, UM, DRAWING.
THERE'S REALLY NOTHING REVISED RELATIVE TO THE COURT LAYOUT OR ANYTHING ELSE.
WHAT'S BEEN ADDED, THIS BEIGE AREA HERE IS THE PARK OFFICE AREA.
AND THEN THIS AREA DOWN HERE BEHIND THE FACILITY IS A GATED FLEET PARKING AREA.
UM, SO THOSE 212 SPOTS THAT HE'S TALKING, THAT'S JUST DO NOT INCLUDE THE FLEET PARKING DOES NOT, YES.
THANK YOU FOR CLARIFYING THAT.
SO THEN THE GRADE OUT AREAS HERE ARE THE SPACES THAT WOULD NOT BE BUILT.
HE'S STILL SHOWING 'EM ON THERE 'CAUSE THEY WOULD BE AVAILABLE TO EVER BE BUILT IF YOU NEEDED TO.
BUT ESSENTIALLY THESE GRAYED OUT AREAS, UH, ARE THE SPACES THAT WOULD NOT BE BUILT IF MOVING FORWARD.
AND, AND THE REASON WE DID IT THERE WHEN WE TALKED ABOUT IT IS IF WE ASSUME WE'RE GONNA HAVE AN ACCESS POINT HERE, THEN IT WOULD BE PREFERABLE THAT THIS ROUTE BACK TO HERE BECAUSE THIS WILL BE USED FOR OTHER PARK USERS, UM, TO NOT BE DRIVING THROUGH THE PARKING AISLES OF THIS FACILITY.
SO YOU'LL SEE HERE HE'S SHOWN THAT ROAD WITH, WITH NO PARKING ON OTHER THAN A COUPLE SPOTS HERE, THERE, MM-HMM.
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WITH KIND OF A PHYSICAL BUILDING OF THERE, BUT IT'S MORE OF A, OF A THROUGH ROAD.NOW YOU, UNLESS WE DO SOMETHING AT THE INDOOR SOCCER CENTER, YOU STILL GET TO A POINT WHERE YOU'RE DRIVING THROUGH A PARKING LOT.
BUT WE DIDN'T REALLY WANNA RECREATE THAT PROBLEM IF WE DIDN'T HAVE TO.
SO THAT'S THE LAYOUT THERE IS THE ACCESS ROAD WOULD KIND OF RUN ALONG HERE AND THEN CONNECT INTO THERE.
UM, SO I THINK THAT JUST A LITTLE BETTER FUNCTIONALITY IF WE'RE GONNA GO THAT ROUTE.
SO THAT'S THE CHANGE IN THE, UH, KIND OF THE LAYOUT, THE COURT LIGHT.
NOTHING CHANGES IN TERMS OF THE CONFIGURATION OF ANYTHING IN THE BUILDING HERE.
ANY QUESTIONS ON THAT? AND BRIAN IS HERE SOMEWHERE COST WISE, WHAT DID THAT, ELIMINATING THOSE 200 OR WHATEVER, HOWEVER MANY SPOTS GETTING DOWN TO 212 BALLPARK, WHAT WAS THAT? A COST SAVINGS? IT WASN'T AS MUCH AS YOU WOULD THINK BECAUSE WE STILL END UP DOWN THAT ROAD THERE.
UM, IT LOOKS LIKE THE FOOTPRINT AT THE BACK HAD TO MOVE A LITTLE BIT BECAUSE OF THE FLEET PARKING.
DID THAT CHANGE YOUR RETAINING WALL PROCESS OR ANYTHING LIKE THAT? THE BUILDING ITSELF DID NOT MOVE, BUT THE FLEET PARKING ACCESS AND THE PARKING ON THE BACK OF THE BUILDING WAS ADDED WITH THE FOOTPRINT STAYING WHERE IT WAS.
BUT THAT DOESN'T INTERFERE WITH YOUR THOUGHTS ON THE RETAINING WALL THAT YOU WOULD HAVE TO WORK? IT DOES NOT.
NO, THERE'S WALKWAYS AND IT JUST WORKS THE WAY IT WORKS.
NO, IT, IT CREATED NO MORE PROBLEMS. CORRECT.
SO THEN, UH, AND THEN AS FAR AS CROCKETT ROAD, AGAIN, YOU'VE GOT A PICTURE OF THIS IN, IN GREG'S MEMO, BUT THIS IS KIND OF WHAT THEY'RE SHOWING THERE.
IT FAIRLY SHORT LEFT TURN LANE, BUT ENOUGH FOR TWO OR THREE CARS.
UM, ENOUGH TRAFFIC ON CROCKETT ROAD WHERE IF YOU HAD, IF YOU DIDN'T DO THIS AND YOU HAVE A COUPLE CARS WAITING TO TURN LEFT, THEN THAT CAN GET REALLY BACKED UP AT TIMES.
SO THAT'S THE, THE IDEA OF WHY YOU NEED THAT.
THEY'RE SHOWING THIS PEDESTRIAN CONNECTION HERE, UH, AS A POSSIBILITY.
I DON'T KNOW THAT WE'RE NECESSARILY SAYING THAT WE WOULD RECOMMEND THAT AT THAT POINT IN TIME IN TERMS OF SAFETY.
IT WOULD ALSO REQUIRE YOU TO THEN BUILD A SIDEWALK ALL THE WAY THE REST OF THE WAY BACK TO THE PARKING AREA.
BUT THEY'RE SHOWING THAT SINCE WE HAVE THE TRAIL CONNECTION HERE, YOU'VE GOT THAT POTENTIAL FUNCTIONALITY.
'CAUSE THERE'S A PEDESTRIAN WALKWAY A LITTLE BIT FURTHER DOWN AT THE ELEMENTARY SCHOOLS, BUT THE SIDEWALK ON THE SOUTH SIDE OF CROCKETT ROAD DOESN'T CONNECT ALL THE WAY DOWN OR DOES IT CONNECT? IT DOES.
THIS CONNECTS ALL THE WAY BACK TO OKAY.
SO IF YOU'RE GONNA CROSS THE ROAD, YOU JUST WALK DOWN TO, UH, THE KIND OF WOODLAND CROCKETT.
AND THEN YOU MAKE YOUR WAY COME BACK AND COME BACK UP TODAY.
BUT THIS IS, YOU COULD HAVE THIS IF WE DECIDED TO MOVE FORWARD AT ONE POINT, DIDN'T WE TALK ABOUT NOT HAVING A LEFT TURN THERE THAT YOU HAD TO EXIT, RIGHT.
YOU COULD ENTER BUT YOU COULDN'T EXIT LEFT.
I MEAN THAT, THAT'S, THAT WAS AN OPTION.
UM, BUT IT JUST, IT'S JUST LESS CAPACITY CAPABILITY.
IT FORCES MORE TRAFFIC BACK TO VOLUNTEER PARKWAY.
SO NEIL S SCHIFFER'S REALLY GOOD WITH THIS ONE.
THEY JUST FELT THAT, THAT THEIR ESTIMATE, AND AGAIN, IT'S A LITTLE MORE DETAILED IN THE MEMO THAT THE VOLUMES THEY WERE ESTIMATING JUSTIFIED A LEFT TURN THERE.
UM, THE OTHER CONVERSATION TOO WAS THAT A LEFT TURN MIGHT BE DIFFICULT BECAUSE OF THE RISE OR THE BEND AND THE ROADS.
IT WAS THE COMING OUT COMING OUT LEFT.
AND THEY SAID OUT BY THEIR MEASUREMENT IT, IT, IT JUST MEETS THE MINIMUM SITE DISTANCE STANDARDS ON THAT IT DOES RISE.
SO THEY DID CHECK THAT TO HAVE THE LEFT OUT OKAY.
THIS ISN'T PROPOSED TO BE SIGNALED OR ANYTHING? NO, NO.
THE OTHER ALTERNATIVE WE TALKED ABOUT, WE JUST KNEW THAT IF WE, IF WE, IF THIS WAS OUR ANSWER, I THINK WE WOULD GET A LOT OF BEEF WOULD TO SAY, WELL DO THE RIGHT IN RIGHT OUT.
AND IF YOU'RE COMING FROM HERE AND, AND YOU CAN'T TAKE A LEFT, WELL YOU JUST GO DOWN TO WITHERSPOON, GO AROUND THE ROUNDABOUT AND COME BACK AND GO, RIGHT.
UH, PRACTICALLY SPEAKING THAT FUNCTIONALLY WOULD WORK.
I, I THINK YOU GET A LOT OF COMPLAINTS AND YOU GET A LOT, A LOT OF PEOPLE DOING WHATEVER THEY HAD TO DO TO MAKE A LEFT INTO THE RIGHT OUT TYPE OF THING.
SO THAT'S THAT RECOMMENDATION.
I MEAN THE ADVANTAGE TO THAT, I MEAN IT DOES, THERE'S A LOT OF SOUNDS LIKE TRAFFIC COMPLAINTS ALREADY WITH THE SCHOOL AND THE PARK ENTRANCE ALL CERTAIN TIMES BEING THERE TOGETHER.
THIS MIGHT ALLEVIATE AND, AND YOU KNOW, WE TALKED ABOUT, AND I DON'T WANNA GET INTO THE KIND OF THE WEEDS HERE IS, IS HOW MUCH OF THIS COMING FROM THE WEST? MM-HMM.
AND ACCORDING TO GREG, YOU KNOW, THE STUDY SHOWS IS THAT PEOPLE WILL TURN THE SHORTEST ROUTE WHERE THEY CAN SEE WHERE THEY'RE GOING.
IF YOU TURN INTO VOLUNTEER, THEN YOU GOTTA GO UP SPEED HUMPS FOUR-WAY STOP THROUGH THE SOCCER COMPLEX TO GET THERE.
SO HE PROJECTED THAT MOST TRAFFIC COMING FROM THE WEST WOULD USE THAT ENTRY POINT AS A MORE DIRECT ENTRANCE.
DIDN'T FEEL, MIGHT REMEMBER, UM, KIDS OF WOODLAND, BUT I KNOW WOODLAND CAR LINE GOES DOWN TO THE LIGHT UP PAST WOODLAND, TURNS AROUND,
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THEN CROCKETT PARK COMES IN FROM THE OTHER SIDE AND GOES AROUND AND IT'S, IT'S QUITE A PROCESS.THIS, LIKE I SAYS, A SHORTCUT OF THE PARK, BUT ALSO THE SHORT SHORTCUT INTO THE WOODLAND CAR.
DON'T KNOW HOW MUCH OF IT BECOMES YEAH.
'CAUSE RIGHT NOW I THINK THEY WERE ACTUALLY STAGING IN THE PARKING LOT OF THE INDOOR SOCCER COMPLEX, RIGHT? THEY ARE.
SO WAS THAT PART OF THE ANALYSIS AND DOES THIS ACTUALLY IMPROVE SOME OF THAT? OR DOES IT MAKE IT WORSE? OR IS THAT KIND OF A SEPARATE THING? SINCE THAT'S WILLIAMSON KIND OF SCHOOLS AND IT'S ONLY, IT REALLY WASN'T PART OF THE ANALYSIS.
I THINK IT PROVIDES THE OPPORTUNITY FOR PEOPLE TO COME IN HERE.
I THINK WE'D HAVE TO FIGURE OUT FROM THE SCHOOL SCHOOLS.
AND THE SCHOOLS REDESIGNED THAT HOW THAT DOZEN TIMES.
JUST IN THE TIME I KNOW ABOUT, YEAH.
I MEAN, YOU KNOW, WE'VE ALWAYS PARTNERED WITH THE SCHOOLS.
WE NEVER SAID, OKAY, YOU CAN'T STAGE IN THE PARKS OR WHATEVER.
I MEAN, I THINK YOU COULD, BUT THAT'S NOT REALLY OUR MODE, SO TO SPEAK.
I MEAN, AT TWO IN THE AFTERNOON, PEOPLE ARE TRAPPED IN THE PARK WHO ARE IN THERE FOR PARK PURPOSES IN ORDER TO GET OUT.
THEY CAN'T GET OUT BECAUSE OF THE, THE BACKUP.
SO THIS MIGHT BE ABLE TO HELP IT, IT MIGHT, I MEAN, IT, IT MIGHT JUST, CERTAINLY ON 4TH OF JULY, YOU KNOW, WE WOULD, YEAH, 4TH OF JULY WOULD HELP A LOT, WHICH IS WHY, YOU KNOW, AND IN GREG'S MEMO YOU'LL SEE HE RECOMMENDED SOMEWHERE BETWEEN 186 AND 212.
AND WHICH IS WHY WE PICKED THE TWO 12 JUST BECAUSE IT JUST GIVES US MORE PARKING IN THE, YOU KNOW, IN THE PARK.
WHAT WE WOULDN'T WANT TO DO THOUGH IS SEE WOODLAND TRY TO JUST SAY, OKAY, THIS IS YOUR PRIMARY ROUTE.
EVERYBODY ENTER HERE AND DO THIS.
YOU KNOW, WE'D HAVE TO NOT LET THAT BE THE CASE.
SO WE DIDN'T, BUT IT WASN'T PART OF THE ANALYSIS.
BUT THERE'S ASSUMPTION THAT SOMEHOW OR ANOTHER THIS WILL BECOME, IT BUILT WOULD BECOME SOMETHING OF A ROUTE FOR THE SCHOOLS TO SOMEHOW USE.
UH, SO THAT'S KIND OF THE NEW STUFF.
JUST REAL QUICK, UM, UPDATED TOTAL PROJECT COST SO THAT, AGAIN, YOU'VE GOT THIS ATTACHED.
THIS IS JUST THE RACKET FACILITY AND THE PARK OFFICE STUFF, NOT ROAD IMPROVEMENTS.
UH, AND IT'S JUST A HERE UNDER $15 MILLION, AND WE'LL BREAK OUT FOR YOU IN A MINUTE.
HOW MUCH IS PARK OFFICE AND HOW MUCH IS, IS RACKET FACILITY? BUT THAT'S THE UPDATED COST.
AND AGAIN, NOT INCLUDING ANY PARK CROCKETT ROAD IMPROVEMENTS.
UH, AND YOU'VE GOT THOSE DETAILS IN YOUR HANDOUT.
AND WE WILL PUBLISH THIS ON THE, UH, ON THE WEBPAGE.
AND THAT INCLUDES ABOUT A 10% CONSTRUCTION CONTINGENCY.
UM, AND AGAIN, BRIAN HAS ASKED ME TO BE VERY CLEAR, THESE ARE JUST VERY PRELIMINARY.
THERE'S NO ENGINEERING, NO FULL DESIGN DONE OR NO GEOTECHNICAL WORK.
SO THESE ARE VERY PRELIMINARY, UH, NUMBERS.
UM, WELL, WHAT PERCENTAGE CAN YOU EXPECT THIS TO INCREASE BY IT'S FROM PAST EXPERIENCE BUILDING THINGS? WELL, I MEAN, I WOULD EXPECT IT MIGHT INCREASE SOMNIA.
I MEAN, THERE'S A WELL OF COURSE, BUT THEN I'M ASKING, WELL, I'M JUST SAYING THERE'S A 10% IDEA.
THERE'S A 10% CONTINGENCY IN THERE.
DOES THAT ALL GET ABSORBED PLUS MORE? WELL, THAT WILL HAVE COVER THOSE YOU THINK.
I THINK THIS GOES WITH AS A RANGE, RIGHT? UM, CERTAIN PERCENT IT CAN BE UNDER OR OVER.
I, I THINK THAT'S, UH, KIND OF THE, THE
BUT, UM, THERE IS, THERE IS SOME CONTINGENCY IN THERE WHETHER THAT GETS ALL ABSORBED PLUS SOME MORE.
I, SO IT COULD BE ANOTHER MILLION AND A HALF OR NOT.
I, AGAIN, I DON'T WANT TO SAY A NUMBER, BUT IT COULD BE HIGHER, COULD BE LOWER.
THE CHANCES ARE IT WOULD MORE LIKELY TEND TO BE HIGHER IF IT'S DIFFERENT THAN LOWER.
BUT STILL, I REMEMBER THAT BRIAN AND THE RA, THE RACKET, AD HOC RACKET FACILITY COMMITTEE MEETINGS SAID THAT HE HADN'T GONE OVER, YOU HADN'T EATEN UP THAT CONTINGENCY IN ANY OF YOUR PROJECTS.
IS THAT CORRECT? FULLY, TRADITIONALLY, NO.
BUT KIRK IS EXACTLY RIGHT WITH THE THINGS THAT ARE STILL IN, NO, TO GO IN WITH THAT ABSOLUTE ASSUMPTION, I DON'T THINK IT'S GONNA BE TO THE EXTENT THAT WE'RE 20% OVER, BUT IT COULD EXCEED THAT CONTINGENCY IF WE GET INTO SOME REALLY BAD SUBSURFACE CONDITIONS.
SO THAT'S WHY TO GET MARRIED TO THAT NUMBER FOR ANY REASON.
THERE'S STILL A LOT OF DETAIL THAT NEEDS TO BE IDENTIFIED AND STUDIED BEFORE WE GET CLOSER TO THAT NUMBER.
BUT IT'S OUR BEST ATTEMPT TO GIVE YOU SOMETHING THAT WE THINK IS REALISTIC.
SO THEN AGAIN, THAT'S JUST, AND AGAIN, I GOT A SLIDE LATER THAT BREAKS THAT OUT.
HOW MUCH OF THIS IS, AND I THINK IT'S ROUGHLY 13 RACK FACILITY, 2 MILLION PARK OFFICE.
UM, BUT THAT, THAT'S KIND OF THE REALM WE'RE, WE'RE WORKING AT TODAY.
SO JUST TO GO BACK TO THE COMMITTEE'S REPORT AND THEIR FINANCIALS, JUST SO, UM, YOU KNOW, IN, IN THEIR REPORT, THIS IS THEIR REPORT, UM, THEY WERE SHOWING A HUNDRED THOUSAND DOLLARS A YEAR FUTURE STRUCTURE REPLACEMENT KIND OF ALLOCATION, UH, TO COME UP WITH A NET REVENUE SIX 12.
AND, AND THAT NUMBER CAME FROM OUR ORIGINAL NUMBER WE THREW OUT WHEN WE WERE TALKING WITH THE COUNTY.
SO THAT WHEN THEY, THEY GOT THAT KIND
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OF FROM US.SO NOT CRITICIZING THAT AT ALL.
BUT, UM, WHEN WE TALKED WITH, AND, AND WHEN THE COMMITTEE WAS MEETING, WE TALKED WITH THEM THAT IF THIS WAS A FULLY, UM, CITY FUNCTION FULLY FUNDED, THAT WE WOULD SET IT UP AS AN ENTERPRISE FUND.
AND SO THERE'S A DIFFERENT ACCOUNTING MECHANISM RELATIVE TO DEPRECIATION WHEN IT'S AN ENTERPRISE FUND.
UM, SO THIS IS WHAT BASED, AGAIN, NO CHANGE IN IN THE REVENUE ESTIMATES THAT CAME FROM THE COMMITTEE, BUT TAKING BRIAN'S, UM, COST ESTIMATES AND TRYING TO THINK ABOUT HOW WE WOULD DEPRECIATE THOSE, UH, THE FABRIC OVER THE BUILDING WOULD BE A, A LOWER NUMBER OF YEARS THAN THE REST OF THE BUILDING AT 40 YEARS.
BUT JUST A ROUGH IDEA IN TERMS OF, YOU KNOW, THAT DEPRECIATION NUMBER BECOMES ABOUT THREE 30.
AND SO THAT REDUCES THE NET REVENUE THAT THEN, YOU KNOW, THE NET REVENUE IN THEORY IS MONEY THAT COULD BE GIVEN BACK TO THE GENERAL FUND OR USED FOR OTHER CITY PURPOSES.
UM, AND SO YOU WOULD BE RESERVING FOR ALL THE FUTURE MAINTENANCE AND REPLACEMENT COSTS THROUGH THIS DEPRECIATION EXPENSE.
AND SO THE NET REVENUE NUMBER COMES DOWN TO ABOUT 3 83.
SO THIS IS THE EQUIVALENT OF THE EQUIPMENT REPLACEMENT FUND IF, IF YOU ARE HOLDING THAT DEPRECIATION MONEY, KIND OF, YEAH.
SO RIGHT NOW WE, WE DO THIS SAME THING FOR THE WATER SEWER FUND, THE EMERGENCY COMMUNICATIONS DISTRICT FUND.
'CAUSE THEY'RE ALL SELF-SUPPORTING WITH THEIR OWN REVENUE, WHICH IN THEORY THIS IS, AND WE STILL DO IT FOR THIS BUILDING BACK FROM THE DAYS WHEN WE WERE RENTING SPACE, WE SET THIS UP AS AN ENTERPRISE FUND.
SO THOSE ARE THE THREE YOU HAVE TODAY.
SO YOU, IN THOSE CASES UNDER OUR ACCOUNTING STANDARDS, YOU HAVE DEPRECIATION, WHICH IS EXPENSED BUT NOT SPENT.
IT'S RESERVED, BUT YOU'RE ACTUALLY, UM, BUILDING UP A CASH RESERVE TO, TO USE TOWARDS ALL THE FUTURE MAINTENANCE AND REPLACEMENT, WHATEVER YOU NEED.
WHICH IS VERY DIFFERENT THAN PRIVATE SECTOR.
YEAH, I DON'T, I KNOW THAT I COULD, RIGHT? I
WE, WE HAVE TO GO BY UNDER OUR ENTERPRISE FUNDS.
SO AGAIN, IT'S JUST NOT A, NOT CHANGING ANY OF THE REVENUE ASSUMPTIONS FROM THE COMMITTEE.
JUST HOW WE WOULD EVENTUALLY HAVE TO ACCOUNT FOR IT AS AN ENTERPRISE FUND AND KIRKMAN REFIGURING, THE, UM, THE STRUCTURAL REPLACEMENT COSTS AND THE MONEY.
WE'RE SITTING ASIDE FROM THAT, I'VE, I'VE HEARD FROM DIFFERENT PEOPLE THAT HAVE COMMENTED ON THIS, THAT THERE'S A DIFFERENCE BETWEEN LIKE REPLACING A BUBBLE IN TERMS OF THE PROCESS OF HOW YOU REPLACE IT AND REINFLATE IT VERSUS A TENSION SUPPORTED FABRIC ROOF VERSUS, UH, A ROOF ON A CONVENTIONAL BUILDING.
DO WE, ARE WE ABLE TO TAKE A LOOK AT THE ACTUAL PROCESS DEPENDING ON THE KIND OF CONSTRUCTION WE CHOOSE AND, AND WHAT IMPACT THAT MAKES ON THE, THE FUTURE MAINTENANCE AND OR REPLACEMENT? OR ARE WE JUST USING THE SAME FIGURE INDEPENDENT OF UM, THE STYLE OF BUILDING? UM, NOT THAT SPECIFIC.
THE FEEL FREE TO, TO ANSWER PART OF YOUR QUESTION, THE FABRIC REPLACEMENT WOULD BE A SIMILAR EXPENSE FOR EITHER AIR SUPPORTED OR ATTENTION FABRIC.
THE STRUCTURE WOULD STAY IN PLACE AND IT WOULD BASICALLY THEY WOULD TAKE THE FABRIC OFF AND PUT THE NEW ONE ON THE SKELETON.
UH, WE HAVE NOT LOOKED AT A CONVENTIONAL BUILDING, BUT FROM A DEPRECIATION PERSPECTIVE, THE FABRIC ON WHAT WORKED, THE TWO TYPES OF BUILDINGS WE'RE LOOKING AT ARE SIMILAR TO ANY PDM ROOF.
THAT'S PROBABLY SIMILAR TO WHAT'S ON THIS BUILDING.
AND YOU HAVE A SIMILAR LIFE EXPECTANCY FOR THOSE.
SO I KNOW THAT I DON'T THINK CONVENTIONAL BUILDING'S REALLY ON THE TABLE.
SO WE'D HAVE TO LOOK INTO THAT IF THAT BECAME
AND IF A CONVENTIONAL BUILDING CAME ONLINE, YOU WOULD HAVE A, YOU MAY HAVE A SIMILAR REPLACEMENT FOR THE ROOF RATHER THAN THE ENTIRE FABRIC, IF THAT MAKES SENSE.
SO YOU WOULD BE PLANNING TO REROOF THAT BUILDING IN A SIMILAR TIMEFRAME THAT YOU'RE LOOKING AT FABRIC PLACEMENT ON THE OTHER TWO BUILDING TYPES.
SO YOU'RE SAYING IN THIS DEPRECIATION YOU ARE PULLING ASIDE MONEY EACH YEAR FOR THAT REPLACEMENT OF THAT FABRIC? YEAH, THAT MONEY 25 YEARS OUT, IT'LL SHOW AS AN EXPENSE UHHUH, WHICH IS WHY IT REDUCES YOUR NET REVENUE.
BUT YOU DON'T REALLY PAY IT OUT TO ANYBODY.
YOU'RE JUST RESERVING IT FOR THAT FUTURE MAINTENANCE AND REPLACEMENT.
AND THAT'S 300,000 A YEAR THAT BASED UPON THE WAY WE DEPRE.
SO WE DEPRECIATE, IN THIS CASE, I TOOK WHAT BRIAN'S NUMBER WAS FOR THE COST OF THE FABRIC AND THE LABOR FOR INSTALLATION IN HIS ESTIMATE, WHICH IS ABOUT 350,000 AND SAID THAT'S 25 YEARS FOR THAT.
THEN THE REST OF IT, THE BUILDING, THE PARKING AND EVERYTHING, NOT INCLUDING THE PARKS PART OF IT.
'CAUSE THAT WE, WE'D HAVE TO TRY TO SEPARATE THAT BECAUSE THAT'S, THE PARKS OFFICE ISN'T THE REVENUE GENERATING ASPECT OF THE BUILDING.
SO THAT'S JUST THE REMAINDER OF THE RACKET FACILITY COSTS THAT 12.6 MILLION
[00:20:02]
OVER A 40 YEAR LIFE, WHICH IS OUR STANDARD KAREN HERE.BUILDING DEPRECIATION SCHEDULE.
YOU GET TO THE END OF THAT SCHEDULE AND THE MONEY IS, DOES NOT NEED TO BE CONSUMED FOR THE REPLACEMENT.
AND WHAT HAPPENS TO THAT REMAINING MONEY THAT WASN'T UTILIZED TO REPLACE, OR LET'S SAY HALF OF IT NEEDED TO BE USED AND IT WAS REPLACED WITH HALF OF THE MONEY THAT HAD BEEN SET ASIDE? WELL AGAIN, YOU'LL BE DOING SOME MAINTENANCE THROUGHOUT THE LIFE OF IT RESURFACE.
I MEAN THIS WOULD BE WHERE YOU RESURFACE COURT OR ANY, YOU KNOW, HVAC UNITS AND ALL THAT.
SO IT'LL COME ALL OUT OF THAT.
SO WE STILL, I DON'T KNOW THAT WE'VE EVER GOT TO THE POINT WHERE WE'VE GOT TO THE THING WHERE WE'VE REPLACED EVERYTHING AND STILL HAD MONEY LEFT.
I DON'T, WE JUST NEVER HAVE GOT TO THAT.
I MEAN, I GUESS, I DON'T KNOW IF I'M AN ACCOUNTING STANDPOINT, IF YOU GOT TO THE POINT WHERE YOUR DEPRECIATION WAS IN EXCESS OF WHAT YOU FELT YOU'D EVER NEED TO SPEND, IS THERE A WAY TO I'M NOT SURE WE'VE GOTTEN TO THAT.
THAT'S I'M SAYING BECAUSE THERE IS ALWAYS ONGOING MAINTENANCE AND PURCHASE AND REPLACING THINGS.
BUT UM, I GUESS IT WOULD UM, GO TO THE FUND BALANCE OF THAT FUND.
OF THAT FUND, WHICH IS THE, YEAH.
AND THEN I DON'T KNOW WHAT THE PROCEDURES WOULD BE TO TRY TO MOVE IT FROM THAT FUND TO LIKE, FOR THIS BUILDING.
YOU KNOW, WE HAVE A A, A CASH BALANCE IN THE MUNICIPAL CENTER FUND.
SO NOT ALL, BUT ABOUT TWO THIRDS OF IT IS BEING USED FOR THE RENOVATION.
WE'RE TALKING ABOUT STILL KEEPING SOME FOR THE ONGOING, 'CAUSE WE'RE NOT REPLACING EVERY H-V-H-V-A-C INTERNET.
SO THAT'S AN EXAMPLE OF HOW IT'S BEING USED.
UM, YEAH, I DON'T KNOW HOW YOU WOULD MOVE FROM THE ENTERPRISE FUND.
YEAH, I'LL BE EITHER BECAUSE THERE'RE DIFFERENT PARTIES, UM, TO THE GENERAL FUND.
I THINK YOU'D HAVE TO DO SOME KIND OF RESERVE ANALYSIS TO, TO YEAH.
PROVE THAT YOU'VE GOT AN EXCESS AMOUNT I THINK AS YOU'RE GETTING CLOSER.
UM, 'CAUSE IT SOUNDS LIKE YOU'VE DONE STRAIGHT LINE DEPRECIATION.
AS YOU'RE GETTING CLOSER, UM, TO, UH, END OF LIFE, UM, YOU'RE DOING THAT RESERVE ANALYSIS YEAH.
AND WE'D HAVE TO, YOU KNOW, GET APPROVAL FROM THE COMPTROLLER AND THAT KIND OF STUFF BASED UPON SOME, NOT JUST, HEY, WE THINK WE GOT MORE THAN WE NEED, SO WE'RE GONNA MOVE IT.
AGAIN, UH, THIS IS JUST, UH, NOTHING THE COMMITTEE DID WAS WRONG.
IT'S JUST THIS IS NOW AS WE FINE TUNE INTO IT IF WE'RE GONNA DO IT OURSELVES, UM, THIS IS KIND OF REALLY THE, HOW IT WOULD BE ACCOUNTED FOR.
UM, THE OTHER THING WE LOOKED AT JUST 'CAUSE, YOU KNOW, FROM A KIND OF A BUSINESS MODEL OF THINGS, WHAT IF WE JUST BORROWED THE MONEY ALL AND, AND DOES IT KIND OF PAY FOR ITSELF? AND, AND OF COURSE WE'RE HURT BY INTEREST RATES GOING UP IN THE LAST SEVERAL MONTHS, BUT, UM, I ASKED OUR BOND FOLKS TO JUST RUN THE ANALYSIS FOR A $12 MILLION BOND ISSUE IN EARLY JANUARY BASED UPON WHERE THE MARKET WAS THEN.
AND THE ANNUAL DEBT SERVICE ON THAT WOULD BE ABOUT $850,000.
AND WE'RE OBVIOUSLY NOT TALKING ABOUT BORROWING AT ALL, BUT JUST AS A, A CHECKPOINT, UH, IF, IF WE DID BORROW, WHETHER THEY'RE BORROWING AT ALL OR NOT, THE FUTURE VALUE OF MONEY, IT'S STILL THE SAME THING.
YOU'RE NOT DIRECTLY BORROWING, PULLING THAT UNDER YOUR SAVINGS ACCOUNT OR THERE'S A COST OF MONEY'S COST OF MONEY REGARDLESS.
UM, SO ANYWAY, UM, SO THAT'S KIND OF NEW INFORMATION I THINK FOR Y'ALL, UH, FROM, UH, FROM THE LAST TIME WE DISCUSSED AND YOU GOT THE REPORT.
SO KIND OF WHERE WE'RE AT TODAY, JUST KIND OF FROM OUR STANDPOINT, FROM A STAFF STANDPOINT, KIND OF QUESTIONS YOU THINK KIND OF CONSIDER FOR YOUR PROCESS GOING FORWARD.
AND I DON'T, I'M GONNA RUN THROUGH SEVERAL, I DON'T KNOW THAT WE NECESSARILY INTEND FOR YOU TO DISCUSS ALL THEM NOW, BUT JUST KIND OF A THOUGHT PROCESS.
WE CAN COME BACK TO THEM AT THE END OF THE PRESENTATION.
BUT YOU KNOW, ONE IS, IS WHAT ADDITIONAL PUBLIC INPUT PROCESS, IF ANY, YOU KNOW, DO YOU ALL FEEL IS NEEDED TO MAKE A DECISION? UM, YOU KNOW, YOU'VE, YOU'VE HAD THE COMMITTEE, WHICH ADMITTEDLY BY INTENTION WAS ADVOCATES FOR TENNIS AND RACQUETBALL AND YOU'VE HEARD SOME FROM PEOPLE WHO QUESTIONED IT.
SO I DON'T KNOW WHAT YOU ALL FEEL IS NEEDED FROM A PUBLIC INPUT PROCESS GOING FORWARD BEFORE YOU MAKE A DECISION.
DO YOU WANT US TO SAY ANYTHING TODAY OR JUST THINK ABOUT IT? I'D RATHER COME BACK TO THAT AT THE END.
I DON'T WANT TO GET BOGGED DOWN, ESPECIALLY WITH WHETHER OR ALL AND, AND THEN WE CAN GO FROM THERE.
UH, WHAT'S THE FINANCIAL IMPLICATIONS RELATIVE TO OTHER CAPITAL NEEDS? WE'RE GONNA GO OVER SOME OF THAT WITH YOU HERE SHORTLY.
UM, PARTNERSHIP WITH THE COUNTY.
IS THAT STILL AN OPTION? I KNOW SOME OF YOU ARE, ARE, DO NOT BELIEVE THAT'S AN OPTION.
SOME WOULD LIKE JUST STILL THROWING THE QUESTION OUT THERE.
UH, IS THIS A COMMUNITY AMENITY OR IS IT A FINANCIAL INVESTMENT? I THINK, UM, OUR VIEW IS IT SHOULD BE CONSIDERED MORE AS AN AMENITY.
I DON'T THINK IT'S A FINANCIAL INVESTMENT.
IT CERTAINLY WILL GENERATE REVENUE, BUT FROM A PAY FOR ITSELF TYPE OF INVESTMENT, I JUST DON'T KNOW HOW YOU GET THERE.
UM, BUT THAT'S FOR YOU ALL TO DECIDE.
UM, AND THEN AS IT AS IF BIRD SONG
[00:25:01]
IS CALLING MEWHAT ARE THE OTHER CAPITAL PROJECT NEEDS? WHICH AGAIN, WE'LL GO OVER HERE SHORTLY.
AND THEN, YOU KNOW, HISTORICALLY WE'RE VERY CONSERVATIVE FINANCIALLY, SO THERE'S A LOT OF THINGS WE CAN PAY FOR OR AFFORD TO DO THAT WE JUST CHOOSE NOT TO DO.
AND SO HOW DOES THIS RANK IN THOSE, UM, IN THAT KIND OF REALM OF THINGS? SO THOSE ARE THOUGHTS THAT STAFF HAS IN TERMS OF HOW WE GET TO A DECISION ON IT, HOW YOU GET TO A DECISION ON THIS.
YOU ALL MAY HAVE OTHER THOUGHTS ON THINGS, BUT UM, AGAIN, WE'LL KIND OF BRING THIS SLIDE BACK UP AT THE END AND, AND YOU CAN, UM, HAVE WHATEVER DISCUSSION WE HAVE BASED UPON THE TIME LEFT AND ALL THAT.
SO LET'S KIND OF JUMP INTO, UH, MORE DETAILS ON THE COST.
AND, AND I STRUGGLED A LOT TO BE HONEST WITH YOU HERE, HOW INTO THE WEEDS TO GET RELATIVE TO WHAT MONEY'S AVAILABLE WHERE I'M PROBABLY GONNA GET A LITTLE MORE INTO THE WEEDS THAN, THAN MAYBE WOULD NEED IT.
BUT THIS MAY BE WE WILL SHORTEN OUR BUDGET OR CAPITAL DISCUSSION AT THE BUDGET MEETING IN A COUPLE WEEKS.
BUT, SO HERE'S THE BREAKDOWN OF THAT 15,000,009 OR 14,964.
UM, AGAIN, ABOUT 13 MILLION ON BRIAN'S ESTIMATE IS THE BRACKET FACILITY ITSELF A LITTLE OVER 2 MILLION IS THE, UM, THE PARK OFFICE AREA AND THE PARKING FOR THE FLEET, THE CROCKETT ROAD ACCESS IMPROVEMENTS.
WE, I MEAN WE JUST, I GOT THAT MEMO FROM GREG YESTERDAY, SO I PLUGGED IN A MILLION.
IT MAY BE A LITTLE UNDER, IT MAY BE A LITTLE MORE THAN THAT.
UM, SO, AND THE ISSUE WITH THERE IS, IS THAT YOU GOT THE WIDENING OF THE ROAD, BUT YOU'VE GOT, SO YOU GOT A WHOLE FAMILY NOW.
ALL THE UTILITY LINES ARE ON THAT NORTH SIDE OF THE ROAD OVER OVERHEAD UTILITY.
WE HAVE A WATER LINE RUNNING ON THE NORTH SIDE OF THE ROAD, I THINK, UH, NOLANSVILLE MAY HAVE A WATER LINE ON THE SOUTH SIDE.
SO THE U SO UTILITY PARTS, POTENTIAL COSTS IN ADDITION TO JUST THE ROAD WORK.
BUT I, FOR THE SAKE OF PUTTING SOMETHING IN THERE, WE PLUGGED IN A MILLION THAT THAT'LL, WE WILL NEED TO GET REVIVED IF WE MOVE FORWARD.
SO ALL IN, UM, IF WE DO THE CROCKETT ROAD AND WE DO THE PARK OFFICES, IT'S ABOUT $16 MILLION.
UM, AND AGAIN, NOT ALL IN ONE YEAR.
SO THIS IS WHAT'S CURRENTLY IN OUR SIX YEAR CIP THAT IS PROGRAMMED FOR THAT FACILITY OR THE OTHER USES IE THE PARK OFFICES THAT WOULD GO WITH THIS FACILITY.
WHAT'S IN RED IS FOUR AND A HALF MILLION THAT'S BEEN ALLOCATED THIS CURRENT YEAR.
THAT WAS ALL DONE LAST SPRING AS PART OF THE BUDGET AS WE WERE WORKING TOWARDS AT THE TIME THE PARTNERSHIP WITH THE COUNTY ON A $12 MILLION 50 50 DEAL.
UM, THE CIP HAS PROGRAMMED ANOTHER MILLION AND A HALF NEXT YEAR, UH, UH, THAT WAS, UH, TO COME OR IS TO COME FROM THE UNASSIGNED FUND BALANCE OF THE GENERAL FUND.
AND SO ALL THOSE NUMBERS THERE WOULD'VE GOT YOU TO THE 6 MILLION, WHICH AT THE TIME WE DID THE CIP LAST YEAR WAS HALF OF THE 12.
WE WERE TALKING WITH THE COUNTY OF THAT 50 50 PROJECT.
NOW IN ADDITION, IN THE CIP WE DO HAVE THE, A PROJECT FOR A PARK OFFICE BUILDING IN CROCKETT PARK THAT'S BEEN IN THERE FOR YEARS.
WE KEEP KIND OF PUSHING IT BACK, BUT IT'S IN THERE.
AND THAT INCLUDES SOME MONEY IN 2025 REALLY IN 2026 FROM 2025 EXCESS REVENUE TO FINALIZE ALL THE ARCHITECTURAL WORK ON IT.
AND THEN THERE'S A $5 MILLION BOND ISSUE IN 27, UM, TO BUILD THE PARK OFFICES.
SO IF YOU INCORPORATE THE PARK OFFICES INTO THIS FACILITY, THEN AGAIN, THAT'S MONEY THAT'S IN THE CIP MAYBE NOT IN THE RIGHT YEAR 'CAUSE THAT'S A 2027 BOND ISSUE.
YOU'D OBVIOUSLY NEED TO DO IT SOONER IF WE'RE GONNA MOVE THIS PROPERTY FORWARD.
UM, BUT THERE IS ABOUT 11.4 MILLION SOMEWHERE IN THE SIX YEAR CIP TODAY THAT WOULD BE RELATED TO THE FACILITY WITH THE PARK OFFICES, NOTHING FOR THE ROAD OF COURSE.
UM, SO THAT'S WHAT'S THERE TODAY.
ANY QUESTIONS ON THAT? NOTHING.
THIS, THIS DOESN'T INCLUDE LIKE ARPA MONEY OR ANYTHING? NO, THIS IS JUST WHAT WE, AS YOU ALL APPROVED IN CIP LAST YEAR, UH, WE'LL GO THROUGH WHAT ARPAS MONEY.
SO THEN OTHER PROJECTS AND I'M, I DIDN'T GET DOWN INTO THE 50 OR A HUNDRED THOUSAND DOLLARS PROJECTS.
JUST THE OTHER BIG CAPITAL PROJECTS WE HAVE IN THE NEXT COUPLE YEARS THAT WE KNOW ARE GONNA REMAIN EXTRA MONEY BEYOND WHAT'S ALREADY IN THE CIP.
SO WE'VE GOT REALLY THESE THREE BIG ONES.
[00:30:01]
WINDY HILL PARK, I MEAN THAT'S DAY, WHEN ARE WE BIDDING THAT HOPEFULLY IN THE NEXT FEW WEEKS, RIGHT? WE GOT A CALL ON FRIDAY TO SET THOSE DATES.THE LAST ENGINEER'S ESTIMATE THAT THEY TELL US IS CONSERVATIVE WAS ABOUT 4.5 MILLION INSTEAD OF THE 3.25 WE HAVE TODAY.
SO THAT'S ANOTHER MILLION THREE RAGSDALE, WHICH AGAIN, WE'RE BUYING RIGHT AWAY NOW, HOPE TO, UH, BID THIS SUMMER AND START CONSTRUCTION IN THE FALL.
LATEST ENGINEER'S ESTIMATE ON THAT WOULD, WOULD PUT US NEEDING ANOTHER TWO AND A HALF MILLION DOLLARS THERE.
UM, AND THEN OLD SMYRNA, WE'VE HAD SOME TALK ABOUT, UH, AND AGAIN, THESE ALL, NONE OF THESE ARE IN ONE YEAR.
THEY'RE TWO OR THREE YEAR KIND OF PHASING, BUT CURRENTLY IN, IN THE CIP, JUST LIKE WE DID LAST YEAR FOR THE RACKET FACILITY, WE ASSUME THERE WAS GOING TO BE AN OLD SMYRNA PROJECT.
WE DIDN'T HAVE ANY ENGINEERING TO THE POINT, BUT WE DID PLUG IN $6 MILLION, UM, FOR THAT OVER THE NEXT TWO TO THREE YEARS.
UM, THIS ESTIMATE, CURRENT ESTIMATE YOU HAD FROM SULLIVAN WHEN WE, FOR JUST THE WESTERN PHASE, NOT THE WHOLE PROJECT IS THE WESTLAKE HARLAN, BACK TO THE ROUNDABOUT WAS I THINK 9.6 MILLION.
SO THAT'S ANOTHER THREE AND A HALF MILLION, UH, THAT'S NEEDED OVER THE NEXT TWO TO THREE YEARS.
NOT TOMORROW OR NOT NEXT YEAR, BUT OVER THE NEXT TWO TO THREE YEARS.
SO THAT'S ANOTHER ABOUT $7.3 MILLION ON PROJECTS.
WINDY HILL AND RAGSDALE OBVIOUSLY ARE WELL ALONG AND ARE, UH, AGAIN, TO BE BID IN THE NEXT FEW MONTHS TO SIX MONTHS.
WHAT POPPED US UP SO MUCH MORE ON THE WINDY HILL FOR THE ONE JUST, UM, EVERYTHING TIME COST.
UM, THAT SIZE PROJECT, THAT'S A BIG, THAT'S A PRETTY BIG YEAH.
YOU GOTTA REMEMBER THAT SOME OF THESE ESTIMATES WE KIND OF JUST BALLPARK, BALLPARK AT THE TIME BEFORE, YOU KNOW, THE ENGINEERING GOT FINALIZED AND ALL THAT.
SO, UM, AND SOMETIMES OUR, I GUESS OUR BALLPARKING JUST DIDN'T KEEPING UP WITH THE, THE MARKET SO TO SPEAK.
YOU KNOW, THE OTHER THING AS WE GET INTO CONSTRUCTION, I DON'T KNOW ABOUT PARKS OR ROADS, BUT CERTAINLY BUILDINGS, YOU KNOW, THERE'S A CONCERN IN THE MARKET AND IS ONCE THAT TITAN STADIUM GETS GOING, IT'S GONNA SUCK UP A LOT OF CONTRACTOR AVAILABILITY.
AND WHAT DOES THAT DO TO THE MARKET? I DON'T KNOW.
UM, I KNOW WE VOTED ON WENDY HILL PARK TO BE IN ITS PROCESS, BUT WE HAVEN'T YET VOTED ON OLD SMYRNA.
AND WHERE IN THE RAGSDALE HAVE WE VOTED ON? ON WHAT PART OF THAT HAVE WE VOTED? YOU VOTED FOR THE FULL DESIGN YOU VOTED TO ACQUIRE RIGHT AWAY.
BUT WE HAVEN'T VOTED TO SPEND THE MONEY ON CONSTRUCTION YET, SO WE HAVEN'T BID IT YET, RIGHT.
SO, WELL, IT NEEDS TO BE DONE.
I CAN
I'M NOT SAYING IT DOESN'T NEED TO BE DONE, I'M JUST CURIOUS WHERE WE ARE IN OUR VOTING.
YEAH, AND, AND YOU'RE RIGHT, EACH OF THESE HAS DIFFERENT PHASES, TIMEFRAME, THERE'S AN ENGINEERING PHASE, AND THEN DEPENDING ON ROADS, THERE'S GONNA BE A RIGHT OF WAY PHASE AND THEN THERE'S GONNA BE A CONSTRUCTION.
AND I KNOW THAT MOST OF US UNDERSTAND THAT, BUT THERE ARE PEOPLE IN THE ROOM THAT MAY NOT.
AND SO I, I'M ASKING SOME OF MY QUESTIONS FOLKS WHO COME, BUT YEAH, YOU'VE APPROVED IT IN THE CIP YOU'VE APPROVED THE ENGINEERING WORK FOR IT, YOU'VE APPROVED THE PURCHASE OF THE RIGHT OF WAY.
SO ONCE THAT'S COMPLETE HERE IN THE NEXT FEW MONTHS, THE NEXT STEP IS TO BID IT AND THEN BRING THAT CONTRACT TO YOU.
OKAY, THANK YOU FOR CLARIFYING.
AND WENDY HILL, OF COURSE YOU BOUGHT THE PROPERTY, APPROVED THE ENGINEERING, THE MASTER PLAN, AND NOW WE'RE BIDDING IT.
YEAH, OLD SMYRNA, YOU'VE APPROVED THAT PRELIMINARY ENGINEERING DESIGN AND THEN THE NEXT STEP WOULD BE A FULL ENGINEERING CONTRACT IF YOU WANT TO KEEP MOVING THAT PROJECT FORWARD.
CONSTRUCTION WOULDN'T EVEN, WOULDN'T BE IN PROBABLY UNTIL THE, REALISTICALLY THE 20 BEGINNING OF 25 OR MID 25.
AGAIN, THAT'S WHY ALL THIS IS REALLY A PUZZLE.
THERE'S MULTIPLE FUNDING POTS, THERE'S MULTIPLE YEARS AND WE CAN, SOME, WE HAVE SOME CONTROL TO KIND OF WHAT WE CAN PUSH THAT OTHERS NEED TO HAPPEN, YOU KNOW, THAT IT'S, IT'S NOT AS SIMPLE AS X DOLLARS THEN AND, AND GO FROM THERE.
BUT ANYWAY, SO THAT'S, UM, THAT NUMBER, I'M JUST FOLLOWING MYSELF ALONG SO I KNOW WHAT'S COMING SO I DON'T GET SURPRISED.
UM, SO IF WE GO BACK TO, TO THERE, THE GAP THERE BETWEEN THIS ALMOST 16,000,011 FOUR IS ABOUT 4.6 MILLION AND ANOTHER SEVEN POINT, SO ROUGHLY $12 MILLION OVER THE NEXT TWO TO THREE YEARS OF CAPITAL.
STUFF THAT WE NEED TO FIND THE MONEY FOR, ASSUMING THE RACKET FACILITY GOES FORWARD, UM, IS KIND OF THAT TARGET NUMBER.
UH, AND AGAIN, MULTIPLE SOURCES.
SO LET'S JUST FOR REALLY FOR THE, BEN, YOU ALL KNOW THIS, BUT FOR THE BENEFIT OF THE PEOPLE IN THE ROOM AND WHO MIGHT LOOK AT THIS IS WHERE DO WE GET OUR MONEY FOR CAPITAL PROJECTS? UM, THE BULK OF IT, UH, COMES FROM OUR OWN EXCESS REVENUE EACH YEAR.
AS YOU KNOW, WE'RE VERY CONSERVATIVE IN OUR GENERAL FUND OPERATIONS AND WITH THE
[00:35:02]
GROWTH OF THE SALES TAX REVENUE, UH, FROM THE INCREASE AND JUST THE ONLINE SALES TAX, YOU KNOW, OUR OUR THE AMOUNT OF EXCESS REVENUE WE HAVE EACH YEAR IS SIGNIFICANT.SO THAT GETS ROLLED FORWARD EVERY YEAR FOR CAPITAL PROJECTS.
IS THAT 1 MILLION A YEAR? 5 MILLION A YEAR? DOES IT YEAR? I'M GONNA SHOW YOU, BUT IT, OKAY, GOOD.
10 YEARS AGO IT WAS TWO OR 3 MILLION.
BUT I'M, I'VE GOT ALL THAT COMING FOR.
UM, BUT THAT'S THE PRIMARY ONE.
THEN OBVIOUSLY WE DO BORROW MONEY FROM TIME TO TIME.
WE TRY TO KEEP IT, UH, PLANNED AND SO IT DOESN'T OBVIOUSLY IMPACT THE TAX RATE OR INCORRECT IMPACT OUR ANNUAL DEBT SERVICE AS WE PAY OFF DEBT, WE TAKE MORE ON IT, TRY TO KEEP IT FAIRLY LEVEL.
UM, THEN WE DO HAVE THE FUND BALANCE, UH, A, A HEALTHY FUND BALANCE AND WE'LL GO OVER WHAT THAT IS HERE SHORTLY.
UH, INTERGOVERNMENTAL SOURCES, OFTENTIMES THAT WOULD BE FEDERAL MONEY ON ROADS OR WHATEVER.
OR IF WE WERE TO DO A PROJECT WITH THE COUNTY, THAT WOULD'VE BEEN A SOURCE HERE, HAD THAT BEEN THERE.
PRIVATE SOURCES, YOU KNOW, WE GET THAT FROM TIME TO TIME.
EXAMPLE WOULD BE THE BALL FIELDS WHERE THE BALL CLUB HAS GIVEN US MONEY OR THE ROTARY RAISED MONEY FOR THE, UM, PLAYGROUND.
IT'S AN EXAMPLE OF PRIVATE SOURCES, FUNDS LOTTERY.
UH, THEN WITHIN OUR CAPITAL PROJECTS FUND, WHICH IS WHERE WE PUT ALL THE MONEY FOR THE BIG PROJECTS, UM, WE'VE HAD SOME PRETTY HEALTHY INTEREST EARNINGS THE LAST COUPLE YEARS ON THAT FUND THAT HAVEN'T, THEY'RE NOT ALLOCATED ANY PROJECTS.
SO THERE'S SOME FUND BALANCE THERE THAT PROBABLY CAN BE A COUPLE MILLION DOLLARS ALMOST TO BE ALLOCATED TO PROJECTS.
AND THEN, UH, THERE ARE OTHER PROJECTS THAT ARE FUNDED THAT EITHER MAYBE GET PUSHED BACK 'CAUSE THEY'RE NOT READY OR YOU ALL CHANGE YOUR MIND ABOUT DOING THEM.
SO WE'LL LOOK AT SOME OF THOSE PROJECTS AND WHERE THERE MIGHT BE SOME MOVE MOVING OF PROJECTS AROUND TO MOVE, HAVE SOME MORE MONEY AVAILABLE IN THE NEXT COUPLE YEARS AND, AND THAT KIND OF STUFF.
BUT THOSE ARE ALWAYS AN OPTION.
AS YOU KNOW, OUR SIX YEAR CIP IS A IS AN EVER EVOLVING DOCUMENT.
THE FIRST YEAR IS USUALLY PRETTY WELL PLANNED AND FUNDED.
THE NEXT FIVE WILL CHANGE EACH YEAR AS WE UPDATE IT.
SO THAT'S NOT UNCOMMON FOR US TO SAY THAT PROJECT'S NOT READY.
UM, MAYBE WE DON'T NEED IT YET.
BUT THAT IS SOMETHING THAT WE'VE GOT AND WE NEED TO HAVE A PLAN TO MOVE THAT FORWARD.
UM, COUNTY ADEQUATE FACILITIES TAX, WE GENERALLY USE THAT FOR PARKS.
ACTUALLY A PART OF THE 4.5 MILLION THAT'S IN THE BUDGET ALREADY FOR THE RACKET FACILITY WAS A MILLION DOLLARS OF ADEQUATE FACILITIES TAX.
SO WE'VE ALREADY USED SOME OF THAT.
ROAD IMPACT FEES REALLY AREN'T APPLICABLE HERE BECAUSE I DON'T THINK YOU WOULD USE THAT TOWARDS, UM, YOU DID IT FOR THE ENTRANCE.
UM, BUT THAT'S NOT REALLY ADDING CAPACITY TO EXISTING ROADS, IT'S ADDING CAPACITY TO SERVE A NEW DEVELOPMENT.
SO I DON'T KNOW THAT THAT WOULD BE AN APPROPRIATE USE OF IT.
PLUS THIS IS, THEY'RE PRETTY WELL PROGRAMMED.
AND, AND ON ON THE, ON THE BIG ROAD PROJECTS, OBVIOUSLY YOU CAN'T USE UTILITY REVENUES, WE WOULDN'T USE OUR EQUIPMENT REPLACEMENT, ANY OF THAT KIND OF STUFF ON THIS OR ANY OF THE ENTERPRISE FUND MONEY'S NOT AVAILABLE FOR IT.
SO TO MOVE THIS FORWARD ON THAT, AND AGAIN, I'M LOOKING AT IT AT THAT 12 MILLION NUMBER, NOT JUST THE RECORD NUMBER.
'CAUSE THAT TO ME IS THE WHOLE PICTURE.
SO THESE ARE REALLY THE, THE FUNDING SOURCES, UH, THAT YOU'D BE LOOKING AT, I THINK, UM, IN RED TO TRY TO FILL THAT, UH, $12 MILLION GAP.
UM, SO, AND WE'LL GO THROUGH MOST OF THESE, UH, HERE, A LITTLE BIT OF DETAIL, MAYBE A LITTLE MORE DETAIL THAN SOME PEOPLE PREFER ON SOME OF THIS.
BUT, UM, SO LET'S TALK ABOUT EXCESS GENERAL FUND REVENUES.
UM, SO WE HAVE A FIVE YEAR FINANCIAL MODEL THAT WE KIND OF USE, UM, TO THIS.
SO WE TAKE ALL OF OUR HISTORIC FOR THE LAST HOWEVER MANY YEARS NOW, 10, 12 YEARS, ANNUAL REVENUES, ANNUAL BUDGETS, AND THEN WE KIND OF ASSUME A CERTAIN GROWTH FACTOR IN ALL THE DIFFERENT REVENUE LINE ITEMS BASED UPON HISTORICAL FACTORS AND KIND OF PROJECT OUT A FIVE YEAR MODEL THAT HELPS US FIGURE OUT HOW MUCH OF THIS EXCESS REVENUE WE THINK WE ARE GONNA HAVE AVAILABLE EACH YEAR TO PROGRAM INTO THE CIP.
UM, SO THIS, THIS IS A SUMMARY OF THAT WHOLE MODEL.
SO FOR THE CURRENT YEAR WE'RE IN 2024, THE MODEL PROJECTS THAT WE'LL GENERATE GENERAL FUND REVENUE, ABOUT $69.7 MILLION, WE'RE ACTUALLY NOT GONNA ACHIEVE THAT.
UM, GROWTH IS JUST, IT'S SLOW AND YOU HEAR IT AT THE STATE LEVEL.
WE'RE SEEING A LITTLE BIT TOO, AND WE'LL GO OVER SOME NUMBERS.
I MEAN WE'RE NOT GONNA BE DRAMATICALLY, BUT WE WON'T HIT THAT NUMBER.
BUT TO BE SAFE, WE ALREADY FACTOR IN JUST A CUSHION.
[00:40:01]
LET'S JUST SAY, OKAY, TAKE 5% OFF THE TOP AND JUST SAY THAT'S OUR CUSHION IN CASE WE HAVE A DOWNFALL.SO THAT THEN GETS YOU TO WHAT'S YOUR NET PROJECTED GENERAL FUND REVENUE.
AND THEN WE TAKE WHAT'S OUR GENERAL FUND BUDGET TODAY, SUBTRACT THOSE AND THAT'S KIND OF WHAT YOU GET IN TERMS OF WHAT WE WOULD PROJECT FOR NEXT YEAR TO BE AVAILABLE FROM AN EXCESS REVENUE STANDPOINT.
NOW DON'T GET EXCITED BECAUSE MOST OF THAT'S ALREADY BEEN PROGRAMMED ALREADY.
SO
MOST OF THAT, AND WE'LL GO OVER THAT IN, IN IN DETAIL HERE.
UM, BUT AGAIN, THIS JUST KIND OF ROLLS FORWARD, ASSUMES A CERTAIN AMOUNT OF GROWTH AND, AND A REASONABLE GROWTH IN OUR EXPENDITURE BUDGET TOO.
SO BACK TO YOUR QUESTION THAT SHOWS YOU THERE SOMEWHERE IN THE, YOU KNOW, THE MODEL TODAY WOULD SHOW ABOUT $14 MILLION A YEAR WITH THIS CUSHION STILL BUILT INTO IT TOO.
UH, AND AGAIN, YEARS AGO WE WERE HAPPY WHEN WE WERE GETTING, THEY ABLE TO TRANSFER THREE OR $4 MILLION, BUT A LOT OF THIS IS THE HALF CENT SALES TAX, WHICH YOU ALL AGREED SHOULD BE PRIMARILY DEDICATED TO CAPITAL.
AND THEN AGAIN, JUST THE INCREASE IN, IN THE, THE EFFECT OF THE ONLINE SALES TAX COLLECTIONS PRIMARILY.
WE HAD THE HAUL TAX AT WERE YEAH, THE HALL TAX WENT AWAY.
YEAH, IT WAS GOOD FOR A WHILE AND THEN YEAH, DISAPPEARED.
BUT SO, UM, YOU KNOW, AGAIN, LIQUOR TAXES HAVE BEEN UP FOR THE LAST SEVERAL YEARS AND THOSE KIND OF THINGS.
AND SO IT'S JUST, YOU KNOW, A A IT'S A CONSUMER BASED ECONOMY FOR US IN TERMS OF SALES TAX AND LIQUOR TAXES AND HOTEL TAXES AND SUCH.
SO, BUT ANYWAY, SO THAT'S THE MODEL AS IT KIND OF SITS TODAY BASED UPON WHERE WE WERE, YOU KNOW, NINE, 10 MONTHS AGO, ADOPTING THE CIP.
UM, BUT WHAT I WANNA SAY HERE IS AGAIN, I, I THINK YOU ALL EXPECT US TO BE CONSERVATIVE IN WHAT WE PROJECT AND SO NOT GET OVERLY EXCITED ABOUT MONEY AND YOU'D RATHER HAVE THE MONEY COME IN UNEXPECTEDLY AND THEN SPEND IT AS OPPOSED TO PLAN TO SPEND IT AND HAVE IT NOT COME IN.
I CAN'T REMEMBER BEING DISAPPOINTED
UM, AND HOW CONSERVATIVE WE ARE ALWAYS VERY CONSERVATIVE AND WE ALWAYS, UH, EXCEED, UH, EXPECTATIONS.
THE YEARS THAT I'VE BEEN AROUND.
WELL I REMEMBER WHEN I FIRST WAS ELECTED, WE HAD $620,000 IN A FUND BALANCE.
AND IT WAS BECAUSE WE SPENT THE NEXT 30 YEARS.
MIKE WALKER WAS WONDERFUL AT LEADING A CONSERVATIVE BUDGET.
YOU PAY AS YOU GO WHEN YOU CAN.
IT DIDN'T COME EASY, RIGHT? IT REALLY DID NOT.
IT INITIATED THE CIP SO WE PLANNED AHEAD, INITIATED THE MAINTENANCE FUNDS.
AND IT'S NOT JUST THAT THINGS COST MORE, THAT WE HAVE A FUND BALANCE LIKE THIS.
IT'S NOT JUST MORE MONEY COMING IN.
IT'S THAT WE'VE BEEN VERY CAREFUL ABOUT WHAT MONEY GOES OUT AND WE LOOK AT PROJECTS VERY, VERY, VERY CAREFULLY.
WE DON'T JUMP INTO A BIG EXPENDITURE WITHOUT A LOT OF THOUGHT FROM OUR BOARDS AND NOT JUST A CITIZEN COMMITTEE.
WE HAVE HAD NO INPUT FROM THE PARK BOARD WHATSOEVER.
AND I DON'T KNOW WHY WE HAVE A PARK BOARD IF WE CAN'T DEPEND ON 'EM.
I HEAR HOW SMART OUR CITIZENS ARE HERE.
OUR PARK BOARD IS SMART, OUR STAFF IS SMART.
I HAVEN'T HEARD ANYTHING FROM THE STAFF EXCEPT HOW WE WOULD POSSIBLY PAY FOR AN ALREADY FOREGONE CONCLUSION.
I WAS FIRST, THE TAIL IS WAGGING THE DOG ON THIS PROJECT.
WHEN I WAS FIRST ELECTED IN 2009, NOT LONG AFTER I TOOK OFFICE FOR 14 STRAIGHT MONTHS, REVENUE KEPT DECREASING AND WE WERE WORRYING ABOUT WHETHER WE WERE GONNA HAVE TO LAY OFF THE EMPLOYEES, WHICH BRENTWOOD SINCE THEY ALWAYS WORK CLEAN, AT LEAST THE LAST 30, 35 YEARS.
SO THAT HAS ALWAYS BEEN FOREFRONT OF MY MOUTH AND BEING CON OR MY MIND AND BEING CONSERVATIVE ABOUT WHATEVER WE DO AND PROJECTED REVENUES AS A BUSINESSMAN, I LOOK AT THIS LORD WILLING, IT DOESN'T HAPPEN.
BUT IF WE HAVE AN ALL OUT WAR IN THE MIDDLE EAST, GAS SPIKES UP TO 8, 10, 12, $15 A GALLON, WHICH COULD BE A POSSIBILITY IF SOMETHING LIKE THAT HAPPENED, ESPECIALLY SINCE OUR OIL PRODUCTION'S BEEN CUT BACK SO FAR IN OUR COUNTRY.
AND SO THAT'S WHY I WANT US TO BE VERY, VERY CONSERVATIVE ABOUT ANYTHING WE WE DO ON A, ON WHAT'S CONSIDERED A WANT.
IT'S NOT LIKE SEWER, IT'S NOT LIKE ROADS.
IT'S A WANT OF SOME IN THE COMMUNITY.
UM, SO I AGREE, I APPRECIATE THE CONSERVATIVE AND HOPEFULLY OUR CITY WILL CONTINUE TO BE THAT CONSERVATIVE.
THAT'S HOW MY BUSINESS SURVIVED A PANDEMIC,
[00:45:02]
UH, WHICH GREATLY AFFECTED AND PEOPLE WENT FROM DRIVING 30,000 MILES A YEAR TO TWO OR 3000 MILES A YEAR.YOU DON'T GET A LOT OF CAR WORK.
UM, DIDN'T HAVE TO LAY OFF ANY STAFF AND SUFFERED GREATLY AND BRITTLE, BLED A LOT OF RED, BUT HAD A LOT OF RESERVES.
'CAUSE WE'VE BEEN IN BUSINESS ALMOST A HUNDRED YEARS FROM FOURTH GENERATION.
UM, I THINK PROJECT AND TALKING WITH A COUPLE OF DEVELOPERS, I THINK IT'LL ACTUALLY BE EVEN MUCH MORE.
THESE FIGURES ARE ONCE THEY START DOING CONSTRUCTION, START DOING EXCAVATIONS.
'CAUSE TENNIS COURTS, LIKE BASKETBALL COURTS AND THOSE TYPES OF THINGS TAKE A REAL SPECIAL EXCAVATION.
IT HAS TO BE PERFECTLY LEVEL SO THAT IT CAN BE USED PERFECTLY LEVEL FOR YEARS.
SO, UM, AND I AGREE, I I THINK ALL THIS INFORMATION IS GOOD, BUT I THINK WE TRADE VERY SLOWLY AND CAREFULLY BEFORE WE EMBARK ON SOMETHING OF THIS NATURE.
AND THE MORE I LOOK AT THE NUMBERS AND SEE THE MORE, I FEEL THAT THAT WAY PEOPLE ARE WANTING TO TAKE MONEY FROM ROAD PROJECTS THAT HAVE BEEN NEEDED FOR YEARS THAT TO DO WHAT IS CONSIDERED A LAW.
SO AGAIN, THIS IS KIND OF WHERE THE MODEL SAT A YEAR AGO.
BUT AGAIN, AS I SAID, GENERAL FUND REVENUES THIS YEAR ARE, THEY'RE NOT DOWN.
THEY'RE JUST NOT AT THE SAME GROWTH LEVEL THEY HAVE BEEN RIGHT NOW, OUR PROJECTIONS WOULD BE WE'LL END THIS YEAR ABOUT AT A 1%, ONE TO 2% GROWTH IN GENERAL FUNDS REVENUES.
THE AVERAGE IS A LITTLE UNDER 5% OVER THE LAST 10 YEARS.
SO, AND, AND YOU CAN SEE IT'S OBVIOUSLY NOT A CONSISTENT LINE.
SO WE DON'T KNOW, DOES THIS NUMBER FLATTEN OUT? DOES THIS NUMBER BACK UP? BUT IN OUR FINANCIAL MODEL, WHEN YOU PLUG IN 24 ACTUALS, THAT KIND OF RESETS THE MODEL A LITTLE BIT LOWER THAN WHAT IT WAS BEFORE.
AND THEN THAT PLAYS ITSELF OUT A LITTLE DIFFERENTLY.
SO, UM, AGAIN, THIS IS KIND OF WHERE WE'RE THE MODEL IS AT TODAY, UH, IN TERMS OF THESE PROJECTED REVENUES OF EXCESS REVENUE.
AND THEN THIS IS WHAT'S PROGRAMMED IN THE CIP ALREADY, AS I SAID, DON'T GET EXCITED THAT THERE'S 16 NEW MILLION DOLLARS.
THE CIP ALREADY SPENDS ABOUT THAT AMOUNT OF IT.
SO THERE'S, THERE IS SOME UNS UNALLOCATED MONEY, UM, TODAY IN THE PROJECTIONS FOR THIS YEAR THAT COULD BE MOVED FORWARD TO NEXT YEAR, NOT AS MUCH NEXT YEAR FROM THERE.
AND THEN LATER OUT IN THE CIP WHERE WE DON'T HAVE AS MANY THINGS PROGRAMMED, OBVIOUSLY THE NUMBERS LOOK BETTER, BUT I'M NOT REALLY LOOKING AT THREE YEARS OR FOUR OR FIVE, SIX, I'M LOOKING AT 1, 2, 3.
SO IF YOU SAY, OKAY, BUT TAKE OUR, WHAT WE'RE ACTUALLY PROJECTING IN 24 TO B, PLUG OUT, OBVIOUSLY IT, IT, THE NUMBERS GET A LITTLE DIFFERENT, YOU'LL SEE THOSE NUMBERS.
WE'RE STILL DO FINE THIS YEAR BECAUSE WE'RE AT THE POINT WHERE WE CAN KIND OF TAKE OUT THAT FUDGE FACTOR.
'CAUSE WE'RE GOT SIX TO SEVEN MONTHS OF REVENUES.
SO WE'LL DO OKAY THIS YEAR AND ACTUALLY HAVE MAYBE A LITTLE BIT MORE AVAILABLE THIS YEAR.
BUT IF YOU LET THE MODEL RUN OUT INSTEAD OF 14 TWO, IT'S 12 MILLION BECAUSE WE RESET WITH 24 LOWER NUMBERS.
SO WE DON'T HAVE AS MUCH, UH, IN THESE NEXT COUPLE YEARS, UH, IN TERMS OF EXCESS REVENUE.
SO THERE'S SOME THIS YEAR TO HELP FILL THAT $12 MILLION GAP IF ALL THOSE PROJECTS WENT FORWARD.
BUT NOT REALLY MUCH IN THE COMING YEARS UNLESS YOU START PUSHING PROJECTS OUT AGAIN, A LITTLE BIT MORE INTO THE MINUTIAE MAYBE THAN YOU WANT.
BUT JUST THE IDEA THAT WE DIDN'T WANNA JUST LOOK AT LAST YEAR'S MODEL.
WE WANT TO TAKE OUR EXPERIENCE SO FAR THIS YEAR, PLUG THAT IN THE MODEL AND PROJECT OUT IN TERMS OF HOW WE WOULD DO THINGS.
SO, UM, SO YOU, YOU SAY WHAT'S, WHAT'S IN THESE 13, $12 MILLION NUMBERS THAT WE'VE ALREADY GOT PROGRAMMED IN THE NEXT THREE YEARS? WELL, AND I KNOW THIS IS KIND OF SMALL, YOU'VE GOT IT IN FRONT OF YOU, BUT THIS IS THE PROJECTS THAT, THAT THOSE MONIES ARE PROJECTED ON OVER THE NEXT THREE YEARS.
AGAIN, SOME ARE RELATIVELY SMALL DOLLAR THINGS AND I DON'T, WE CAN GO THROUGH 'EM ONE BY ONE.
I DON'T REALLY THINK THAT'S THE, THE NEED HERE.
UM, BUT SOME CROCKETT WORK THAT'S A PLAYGROUND AND A POTENTIAL AMPHITHEATER, REROOF, AGAIN, THAT'S AN EXAMPLE OF A PROJECT THAT WE KIND OF KEEP PUSHING BACK 'CAUSE THE ROOF LOOKS OKAY.
SO THAT'S A, YOU KNOW, MONEY CAN BE MOVED AROUND CITY HALL, WE GOT THE EXTRA, YOU KNOW, WE'RE GONNA BID THAT HERE NEXT WEEK.
UH, THAT'S THE EXTRA NEEDED TO GET TO THAT 5.7 NUMBER THAT A MAJORITY OF YOU WERE SUPPORTIVE OF
[00:50:01]
SERVICE IN A PROJECT IS ONE THAT'S PRO IT'S NOT READY.WE'RE HAVING A LOT OF DISCUSSIONS ABOUT WHAT WE REALLY WANT OR NEED TO DO THERE AND CAN AFFORD TO DO THERE.
SO THAT'S SOME MONEY THAT THAT PROJECT GETS MOVED BACK AND FREES UP SOME MONEY.
UH, AND AGAIN, WON'T GO THROUGH ALL THESE BIGGER OTHER ONES.
UH, OBVIOUSLY RAGSDALE GOT MONEY OVER THE NEXT COUPLE YEARS 'CAUSE IT'S A TWO YEAR CONSTRUCTION PROJECT TRAILS, A LOT OF THAT.
A LOT OF THAT IS THE TRAIL, UM, BETWEEN CONCORD AND UH, MURRAY ALONG FRANKLIN ROAD.
UM, IF THAT'S A QUESTION, UM, AS TO WHETHER THAT'S THE COST BENEFIT AND, AND THE AMENITY, YOU KNOW, KINDA LIKE I TALKED ON THE FRONT, IS IT AN AMENITY OR A, A FINANCIAL, THAT'S ONE.
Y'ALL WILL DECIDE WHETHER THAT, UH, AMOUNT OF MONEY FOR MAKING THAT BIKE PED CONNECTION.
THAT'S A GAP NOW BETWEEN SOUTH OF CONCORD AND NORTH OF CONCORD.
UM, SO THAT'S A PROJECT THAT EVEN IF WE DECIDE TO MOVE FORWARD PROBABLY IS NOT AT A POINT WHERE THAT NEEDS THAT MUCH MONEY THIS YEAR.
AGAIN, ANOTHER ONE OF THOSE EXAMPLES WHERE EACH YEAR WE KIND OF MOVE SOME MONEY AROUND.
UM, YOU'LL SEE HERE IN SPLIT LOG PHASE THREE, WE'RE ALREADY STARTING TO RESERVE MONEY FOR IT EVEN THOUGH IT'S NOT PLANNED FOR CONSTRUCTION FOR ABOUT FIVE YEARS.
AND THEN OLD SMYRNA, THERE'S MONEY THERE TO KEEP MOVING THE ENGINEERING MONEY ALONG.
AND THEN THAT'S THE OTHER 6 MILLION, UH, THAT'S IN THE CIP TODAY THAT WOULD NEED TO BE ADDED TO OVER THE NEXT COUPLE YEARS.
SO AGAIN, THAT'S THOSE PROJECTS THAT MAKE UP THESE NUMBERS HERE.
UM, WELL INTO THE DETAILS, BUT JUST SO YOU UNDERSTAND THE, THE LEVEL OF KIND OF WHERE WE SIT WITH THINGS, IT'S TWO SIX 2,000,006 ON THAT
FRANKLIN ROAD MURRAY TO CONCORD ALONG FRANKLIN ROAD FROM MURRAY TO CONCORD.
WHICH ALL WE'VE DONE ON THAT PROCESS IS VOTE TO APPROVE AN ENGINEERING CHANGE ENGINEERING AND THEY HAVEN'T COME BACK WITH THAT.
WE, WE'VE GOT, WHERE'S DEREK? WE'VE SEEN RIGHT HERE.
HEY, HOW'S IT GOING? WE'VE SEEN, UH, ENGINEERING WISE, THEY'RE A PRELIMINARY OR WHERE WERE WE AT ON THE ENGINEERING EVENT? YEAH.
UH, COMPLETING PRELIMINARY DESIGN, UH, JUST PRIOR RIGHT OF AWAY PLANS.
THAT'S, THAT'S WHERE WE'RE AT RIGHT NOW.
SO WE WOULD HAVE TO ACQUIRE RIGHT AWAY ON THAT STILL.
YEAH, SO THAT'S WHAT I'M SAYING, THAT THAT'S NOT AT A POINT, EVEN IF EVERYBODY WAS YEAH.
AND I KNOW SOME OF YOU WERE QUESTIONING WHETHER TWO AND A HALF MILLION DOLLARS FOR A TRAILER IS RIGHT OR NOT.
UM, BUT EVEN IF WE WERE MOVING FORWARD WITH IT, YOU PROBABLY DON'T NEED 2.6 MILLION OUT OF NEXT YEAR'S MONEY FOR IT.
YOU KNOW WHAT I'M SAYING? THAT'S AN EXAMPLE OF A PROJECT THAT PROBABLY MOVES BACK A LITTLE BIT AND MONEY MOVES AROUND.
DOES THAT ANSWER YOUR QUESTION? DOES, AND I, I WOULD JUST LIKE TO POINT OUT LIKE I DID IN ANOTHER BRIEFING BACK LAST YEAR, THAT THERE ALREADY IS A TRAIL THAT COVERS THAT SAME DISTANCE.
I'VE WALKED IN AND RUN A CONNECTION BETWEEN NEIGHBOR, NOT, IT'S NOT A TRAIL, IT'S A CONNECTION BETWEEN NEIGHBORHOODS.
SO WE DO ALREADY HAVE CONNECTIVITY FOR PEOPLE TO WALK AND RUN BIKES TO THAT SAME EFFECTIVE LENGTH OF FRANKLIN ROAD, BUT NOT ON THE EAST SIDE.
THAT THROUGH BURWOOD HILLS, THAT VETERAN ALSO, I'M SORRY, THEY'RE REFERRING TO THE AREA OF THE ROADS IN BRENTWOOD HILLS, WHAT WOULD BE FOUNTAINHEAD, UH, BRENTWOOD HILLS, JACKSON LANE, ALL THAT.
THERE'S A, A, A WAY TO GET THROUGH ALL THAT AREA ALREADY ON FOOT AND BIKE IF YOU CHOOSE TO.
SO DOWN LIKE WEST CONCOR ROAD AND SOME OF THAT AREA.
SO THAT'S KIND OF EXCESS REVENUE.
THAT'S WHERE A LOT OF OUR REVENUE COMES FROM.
WHERE ARE WE AT ON OUR UNASSIGNED FUND BALANCE? UH, THE AUDIT SHOWS WE HAVE 55.5 MILLION OF THE UNASSIGNED FUND BALANCE IN THE GENERAL FUND, WHICH IS 107% OF, UM, OUR CURRENT FISCAL YEAR 24 BUDGET.
OUR ADOPTED POLICY REQUIREMENT, UH, IS 40%, WHICH WOULD BE 20.7 MILLION.
SO YOU DEDUCT, SUBTRACT THOSE TWO AND ESSENTIALLY YOU'VE GOT 34.8 MILLION ON THE UNASSIGNED FUND BALANCE ABOVE OUR MINIMUM REQUIREMENTS.
I DON'T THINK ANYBODY WOULD TALK ABOUT SPENDING $34.8 MILLION, BUT, UM, THERE IS SEVEN AND A HALF OF THAT ALREADY PROGRAMMED IN THE CIP 1.5 FOR THE RACKET FACILITY IN THE CIP THAT WAS ADOPTED.
AND THEN THERE'S 6 MILLION THAT'S BEEN PROGRAMMED FOR YEARS FOR MCEWEN EAST OF WILSON PIKE.
THAT'S PROGRAM TWO OR THREE YEARS OUT.
SO YOU ALREADY GOT SOME OF THAT KIND OF EARMARKED TO BE SPENT IN THE CURRENT CIP.
SO THAT WOULD LEAVE 27.3 MILLION IN THE FUND BALANCE THAT COULD BE SPENT AND STILL STAY ABOVE YOUR 40% MINIMUM.
AGAIN, NEVER WOULD WE EVER COME CLOSE TO RECOMMENDING SPENDING ANYWHERE NEAR THAT AMOUNT.
[00:55:01]
SOME, AND WE HAVE, YOU KNOW, WE'VE USED THAT FROM TIME TO TIME WHEN WE BOUGHT WENDY HILL WAY BACK WHEN WE BOUGHT UM, SMITH PARK.SO, UH, YOU KNOW, IT'S NOT UNPRECEDENTED TO DIP INTO THAT FUND BALANCE.
UM, BUT YOU WOULD NEVER WHAT IS THE MAXIMUM WE PULLED OUT OF THAT FOR ONE, ONE PROJECT.
UH, AND I AND I YOU CAN, I'LL GIVE YOU THAT 5 MILLION OR SO YOU CAN TAKE 5 MILLION, RIGHT? OR SO ROUGHLY.
NO, WAS FOR SMITH PARK? I THINK SO, YEAH.
'CAUSE WIND HILL WE DID SOME, BUT WE ALSO USE SOME ADEQUATE FACILITIES AND, AND I DON'T THINK IT WAS, AND IT WAS 400 ACRES AT SMITH PARK.
UM, FOUR 20 NOW, ISN'T THERE? THAT WAS A PRETTY GOOD DEAL.
IT WAS THREE 80 AND WE, OR THREE 20 AND WE BOUGHT THE BACK 80.
AND WE MAY HAVE USED IT FOR THE BACK WHAT YEAR? BUT THAT WAS 5 MILLION IN WHAT YEAR? WELL, I, I ROUGHLY FOUR, 2010, 2011.
I THINK OF THE, THERE'S A LOT OF NUMBERS BEEN MOVING ON THE SCREEN HERE.
I KNOW, THAT'S WHAT I WAS AFRAID OF.
WE STILL HAVE FUNDS, LIKE IT COSTS 15, 16 MILLION.
WE'RE TALKING FOR THE, UH, FACILITY, RACKET FACILITY.
IT'S NOT LIKE YOU'RE TALKING 15 MILLION OUT OF THIS.
YOU'RE TALKING NO, NO, I'M JUST SAYING ALL THIS, THERE'S DIFFERENT BUCKETS THAT YOU GOTTA GET ALL THOSE BUCKETS OVER TO SEA, TAKE SOME FROM DIFFERENT ONES, IS WHAT I'M SAYING.
SO I'M JUST TRYING TO PAINT YOU THE PICTURE OF KIND OF WHAT THOSE BUCKETS LOOK LIKE.
IT IS JUST, I JUST DON'T WANT PEOPLE TO THINK ALL OF THAT 16 HAS TO COME OUT OF 27.
I WANNA PAINT SUCH A PRETTY PICTURE EITHER.
UH, AND YOU ALL KNOW HOW I FELT ABOUT, I'M ONE OF THOSE ADVOCATES FOR A CITY JOINT CITY, COUNTY JOINT THING WHERE WE HAD HALF THAT AMOUNT THAT WAS COMING FROM THE CITY OF BRENTWOOD.
IT DOESN'T MATTER WHAT BUCKETS WE GET IT FROM, WE ARE GONNA EVENTUALLY HAVE TO PUT THE MONEY BACK IN THOSE BUCKETS.
IT'S NOT FREE MONEY, AS HE SAID.
YOU, YOU SPEND IT TODAY OR YOU SPEND IT 10 YEARS.
IT'S JUST LIKE A HOUSEHOLD BUDGET.
IF THE ROOF NEEDS FIXED AND THE CARPET NEEDS REPLACED AND THE CAR NEEDS UP TO BE REPLACED, YOU MIGHT JUGGLE IT A FEW YEARS, BUT YOU'RE GONNA EVENTUALLY SPEND THAT AMOUNT OF MONEY.
AND WE NEED TO KEEP THAT IN MIND.
IS THIS THAT GOOD OF A DEAL WHEN WE COULD HAVE HAD A REALLY GOOD DEAL AND THAT COULD AND AND, AND I'M NOT MAKING A SECRET.
EVERYBODY'S TALKED TO ME KNOWS I FEEL THIS WAY, UH, FOR NO GOOD REASON, EXCEPT PEOPLE WANTED TO HAVE GUARANTEED TENNIS TIMES.
WE TURNED DOWN A DEAL WHERE WE COULD PUT IN HALF OF THIS AMOUNT.
SO I, I, I SWEAR I'M COMING FROM AND UM, I DON'T CARE HOW MANY BUCKETS WE GO FROM, GET IT FROM, I JUST CAN'T SEE MYSELF EVER VOTING FOR THIS PROJECT.
AND I'M JUST GONNA BE UPFRONT ABOUT IT.
I JUST WANT TO HEAR, I I'M STILL OPEN TO LISTENING TO THIS.
I'M GLAD I'M JUST TRYING TO BE, I'M NOT STILL OPEN.
I'M VERY ADAMANTLY FOR THE OTHER OTHER PROJECT.
I JUST WANTED TO MAKE SURE, JUST TO CLARIFY, 'CAUSE THERE'S BEEN A LOT OF NUMBERS PUT UP THERE.
ALL I'M DOING IS CLARIFYING NUMBERS.
I'M NOT SAYING ANYTHING ON WHICH WAY WE SHOULD GO OR COULD GO.
WE STILL GOT THREE OR FOUR MORE SLIDES TO GO FOR KIRK.
SO THERE'LL BE MORE NUMBERS THERE.
IT'S, IT'S NOT GONNA CHANGE THE FACT THAT WE'RE STILL TALKING X NUMBER OF DOLLARS THAT HAVE GOTTA BE SPENT.
SO, AND THEN I WANT TO JUST RECOGNIZE THAT YOU BRING UP A COUPLE REALLY GOOD POINTS.
YOU KNOW, ONE IS BY HAVING SOME MONEY IN THE BANK THAT ALLOWS YOU TO TAKE ADVANTAGE OF OPPORTUNITIES THAT YOU DIDN'T EXPECT.
AND KIRK MENTIONED A COUPLE WITH WIND HILL PARK AND SMITH PARK.
IF HE DIDN'T HAVE MONEY IN THE BANK, THEN WHETHER OR NOT THOSE OPPORTUNITIES CAME UP, HE WOULDN'T BE ABLE TO DO ANYTHING ABOUT IT IF YOU DIDN'T HAVE THE RESOURCES.
AND THE OTHER THAT YOU BROUGHT UP IN TERMS OF HAVING A PARTNER.
UM, BECAUSE WE'RE NOT JUST TALKING ABOUT THE, THE MONEY DUE THE DAY YOU COMMIT, WE'RE ALSO TALKING ABOUT MONEY OVER TIME.
YOU KNOW, AND WHETHER OR NOT YOU HAVE SOMEBODY COMMITTING TO THE MAINTENANCE AND THE UPKEEP.
SO LIKE THE BRENTWOOD BALL CLUB IN TRUE FIELD'S, PART OF THE ADVANTAGE IS THEY'VE COMMITTED TO THE MAINTENANCE, UM, WHICH IS HUGE FOR THE CITY BECAUSE, YOU KNOW, COMMITTING TO LONG TERM UNKNOWNS LIKE THE MAINTENANCE COST IS A BIG DIFFERENCE VERSUS COMMITTING THE COST RIGHT NOW.
SO I THINK YOU MAKE A COUPLE REALLY VALID POINTS THAT ARE VERY, VERY IMPORTANT.
BUT CAN I AGREE? WE NEED TO GET TO THE PRESENTATION.
SO WE'VE TALKED ABOUT EXCESS REVENUES.
WE'VE TALKED ABOUT THE FUND BALANCE.
WE DIDN'T REALLY TALK ABOUT DEBT, BUT AGAIN, THERE'S A BOND ISSUE IN, IN THERE THAT I ASSUME WOULD JUST GO TOWARDS THE PROJECT FOR THE PARK OFFICE FARM.
UM, BUT OUR FUNDS ARE AGAIN, A UNIQUE SET OF MONEY THAT'S NOT A RECURRING THING.
[01:00:02]
AGAIN, A LOT OF NUMBERS HERE, WE GOT ABOUT $12.7 MILLION.WE ALLOCATED FIVE TO THE SEWER TANK THAT'S BEEN SPENT PAID FULLY OPERATIONAL.
UM, WE HAVE EARMARKED IN THE CIP $3 MILLION BETWEEN NOW AND 2026 FOR TODD TO DO HIS SEWER OR NOT SEWER, UM, STORM DRAIN PIPE REHAB THROUGHOUT THE CITY OF THE OLD METAL PIPES THAT WE SHOWED YOU PICTURES OF.
WE HAVEN'T SPENT A LOT OF THAT, ALTHOUGH I THINK, I DON'T, HE'S STILL HERE.
I THINK HE LEFT THE CONTRACTOR I THINK IS EITHER IN TOWN OR COMING IN TOWN SOON.
SO WE WILL, WE WOULD HOPE TO STILL KEEP THAT 3 MILLION ALLOCATED TOWARDS THAT PIPE REHAB BETWEEN NOW AND 2026 WHEN IT'S GOTTA BE SPENT.
UM, IT HAS TO BE UNDER CONTRACT BY 2026.
WITH THE COMPANY THAT DOES IT.
SO WE, WE JUST GOTTA SPEND IT BY 2026 THEN.
AND THEN IF, IF WE, IF THERE'S, I DON'T KNOW, $500,000 THAT DOESN'T GET SPENT ON THAT, CAN IT BE PUT UNDER CONTRACT FOR SOMETHING ELSE? YES.
AND THE 11TH MONTH OF 2026, WE DON'T WANNA LOSE IT.
AND AND WE'RE GONNA GET TO THAT.
SORRY, I DON'T THINK WE WANNA LOSE IT EITHER.
SO, UM, NOW AND THEN IN THE CIP WE HAVE ABOUT $2.5 MILLION OF UN-DESIGNATED MONEY IN STORMWATER FOR STORMWATER PROJECTS THAT WERE GONNA COME OUT OF THE MASTER PLAN WORK THAT'S BEEN DONE.
YOU RECALL, AND, AND YOU TALKED A LITTLE BIT ABOUT THAT, THAT THAT REALLY DIDN'T GIVE US WHAT YOU GAVE US A LOT OF LIKE ROAD THINGS THAT WE'RE NOT QUITE SURE REALLY MAKE SENSE.
SO, UM, WELL I THINK WE WOULD WANNA KEEP SOME MONEY SOMEWHERE IN THE CIP FOR STORMWATER PROJECTS AS THEY'RE IDENTIFIED.
AND THERE MAY BE A FEW STILL COMING OUT OF THAT.
UH, DEREK AND THEM ARE GONNA TRY TO GET A COUPLE CONSULTANTS ON BOARD TO, TO LOOK AT THAT, BUT NOTHING THAT'S GONNA GET UNDER CONTRACT BETWEEN NOW AND THE END OF THIS CALENDAR YEAR.
AND THEN WE DID DO THE MASTER PLAN WORK.
THAT'S WHAT WAS SPENT ON THAT.
UM, THERE'S STILL THAT AMOUNT OF LEFT.
WE'RE NOT REALLY ADVOCATING AT THIS POINT TO KIND OF MOVE FORWARD UNTIL PHASE TWO, UNTIL WE SEE WHAT MIGHT PROJECTS MIGHT COME OUT OF THE PHASE ONE STUFF.
SO BOTTOM LINE, WE HAVE COMMITTED IN THE CIP 11.1 MILLION, WE SPENT 5.5 THAT LEAVES ABOUT 5.6, UH, REMAINING TO BE SPENT.
AGAIN, WE WOULD WANT TO TRY TO KEEP THAT 3 MILLION ALLOCATED SOMEWHERE, BUT WE REALLY HAVE ABOUT A MILLION AND A HALF MILLION SIX THAT WE HAVEN'T ALLOCATED IN THE CIP YET.
THAT'S SITTING IN A FUND EARNING INTEREST AT A PRETTY GOOD CLIP.
SO YOU GOT ABOUT 2 MILLION THAT'S UNALLOCATED OF, OF THE ORIGINAL 12.7.
THAT NUMBER MAY BE A LITTLE HIGHER.
THAT INTEREST NUMBER IS PROBABLY A COUPLE MONTHS OLD.
SO IF YOU TAKE THE TWO OR SO THAT'S UNALLOCATED AND TRY TO MOVE THE STORM WATER MONEY E UH, UP AND LET LOCAL MONEY FUND THAT A LITTLE LATER.
SO YOU, YOU KNOW, SOMEWHERE FOUR TO $5 MILLION YOU CAN KIND OF MOVE AROUND HERE, UM, UH, FOR, TO HELP FILL THAT $12 MILLION GAP.
AND, AND BACK TO MY COMMENT ABOUT THE ART MONEY AND THE DEADLINES, WHAT WE ACTUALLY MAY RECOMMEND TO YOU TO DO IS WE'VE GOT WINDY HILL AND MURRAY LANE COMING UP.
WE MAY RECOMMEND THAT WE, IT'S, WE HAVE THE MONEY, IT'S LOST REVENUE.
LOST REVENUE IS ONE OF THE CATEGORIES UNDER THE A FUND OF HOW THAT'S USED.
YOU COULD EVEN USE IT FOR OPERATING COSTS, WHICH WE WOULD NEVER WANNA DO.
WHAT WE MIGHT WANNA DO TO GET IT SPENT IS DESIGNATE WINDY HILL AND MURRAY LANE OR WHATEVER THAT ARE GONNA BE COMING UP UNDER CONTRACT HERE SOMETIME IN THE NEXT 12 MONTHS THAT THE ART MONEY'S GOING THERE.
AND THEN JUST TAKE OUR MONEY THAT WE'VE GOT ALLOCATED FOR THOSE PROJECTS AND THEN MOVE THEM AS NEEDED.
UH, JUST MOVING MONEY FROM ONE POT TO THE OTHER.
SAME AMOUNT OF MONEY GOING OVER.
SO IF JUST TO GET IT UNDER CONTRACT AND SPENT AND FOR THE PURPOSE TO ENSURE NO MONEY GETS LEFT ON THE TABLE, DON'T GET, SEND ANY MONEY BACK TO THE FEDERAL GOVERNMENT.
THANK YOU FOR SHARING THAT WITH US.
WENDY HILL IS A LITTLE COMP COMPETING THING.
'CAUSE TECHNICALLY WE GOT SOME BOND MONEY WE NEED TO GET SPENT TOO.
BUT I'D RATHER PAY A LITTLE ARBITRAGE BECAUSE WE EARN MORE INTEREST THAN SEND MONEY BACK TO THE FEDERAL GOVERNMENT.
SO THAT'S THE OUTCOME OF THAT.
SO AGAIN, I TOYED WITH THE IDEA OF JUST SHOWING A SLIDE WITH A BUNCH OF PUZZLE PIECES.
'CAUSE THAT'S REALLY WHAT ALL THIS IS.
UM, UH, AND YOUR POINTS ARE VALID, IT STILL DOESN'T MATTER AND YOU'RE STILL SPENDING A CERTAIN AMOUNT OF MONEY FOR A PROJECT.
UH, MONEY'S COMING FROM DIFFERENT PLACES.
UM, SO THAT'S REALLY ALL THE, THE MAIN POTS OF MONEY THAT WE'RE WE'LL BE WORKING WITH HERE IN THE CIP.
SO JUST OUR FUND KIND OF UNEXPECTED MONEY.
WAS 12 POINT UNEXPECTED MONEY.
UM, AND AGAIN, THERE'S SEPARATE ARC FUNDS THAT THE WATER SEWER FUND IS GETTING FROM THE STATE AND THROUGH
[01:05:01]
WILLIAMS COUNTY, BUT THOSE ARE DEDICATED TO WATER SEWER'S AN ADDITIONAL ON TOP OF THIS 12.SO JUST TO KIND OF SUMMARIZE, UM, I MEAN THE BOTTOM LINE IS, IS TODAY'S ESTIMATES IS, IS YOU'RE LOOKING AT A RACKET FACILITY AND ASSOCIATED IMPROVEMENTS THAT WOULD BE $16 MILLION.
SO THAT'S THE BOTTOM LINE ON YOU'RE GONNA, THAT'S REALLY YOUR QUESTION IS, IS DO YOU WANNA SPEND $16 MILLION ON A RACK? SO WE'VE GOT OTHER PROJECTS THAT NEED MONEY TOO.
UM, ABOUT SEVEN 16 MILLION ON A RACKET FACILITY? OR IS IT, DOES THAT INCLUDE, WELL, THAT INCLUDES PARK OFFICES AND THE CROCKETT.
IT'S 13 MILLION ON A RACKET FACILITY.
UM, BUT YOU WOULDN'T DO, NOW EVENTUALLY YOU MIGHT HAVE TO DO THE PARK OFFICES ON A OWN AT SOME POINT IN TIME YOU WOULDN'T DO THE ROAD CONNECTION UNLESS YOU WERE DOING THE, UM, THE RACKING FACILITY.
I MEAN, I GUESS YOU COULD IF WE FELT WE NEEDED ANOTHER ENTRANCE INTO CROCKETT POWER.
SO, BUT BOTTOM LINE IS, IS THAT'S STILL THE AMOUNT OF MONEY YOU WOULD BE SPENDING TO MOVE IF THE PROJECT MOVES FORWARD.
OTHER PROJECTS AT LEAST ANOTHER 7.3 MILLION WE NEED, UH, IN THE NEAR TERM ON THOSE, YOU'VE GOT OTHER BIG PROJECTS OUT IN THE CIP THAT ARE GONNA NEED PROBABLY ADDITIONAL MONEY TOO.
SPLIT LOG PHASE THREE AND SUNSET PHASE THREE AND THOSE THINGS.
BUT THEY'RE IN THAT 3, 4, 5 YEAR FOUR OR FIVE SIX YEAR RANGE.
UH, SO ROUGHLY 12 MILLION IS KIND OF WHERE WE'RE LOOKING AT TODAY.
UM, YOU'D HAVE TO MOVE A BOND ISSUE EARLIER TO GO TOWARDS THE RACKET FACILITY, WHICH IS IN THE CIP BUT IT'S IN 27.
SO YOU'D HAVE THAT, THAT MONEY WOULD, PART OF THAT MONEY WOULD COME FROM A BOND ISSUE.
YOU'RE SAYING THAT WAS THE BOND ISSUE THAT YOU WERE CONSIDERING TAKING ANYWAY FOR THE, THAT'S WHAT PARKS DEPART PROGRAM.
IT'S BEEN PROGRAMMED FOR PARK OFFICES.
SO IF THAT'S GONNA BE PART OF THE PROJECT, YOU WOULD JUST TAKE THAT 5 MILLION AND, AND MAKE IT PART OF YOUR FUNDING FOR THE PROJECT IS WHAT WE WOULD PROPOSE.
UM, AND AGAIN, JUST TO CLARIFY, YOU KNOW, WINDY HILL AND RAGSDALE, WE FEEL THOSE, YOU KNOW, CONSTRUCTION ESTIMATES ARE A LITTLE MORE REFINED.
THE RACKET FACILITY IN OLD SMYRNA ARE JUST VERY PRELIMINARY.
SO THEY, THOSE COULD FLUCTUATE, UM, CONSIDERABLY, UH, OVER TIME.
UM, CAN YOU GO BACK JUST A MINUTE? THAT THIRD BULLET POINT.
ADDITIONAL FUNDING NEEDED TO FILE PROJECTS PROCEED IS 12 EIGHT.
SO THAT'S THE 16 PLUS TO 7.3? NO, IT'S A DIFFERENCE BETWEEN THE 16 AND THE 11 FOUR.
THAT'S ALREADY IN THE CIP SOMEWHERE.
BUT THAT 12 MILLION INCLUDE, THAT'S THE SLIDE WHERE YOU SAID SOME OF THE STUFF COULD SHIFT.
FOR EXAMPLE, LIKE WE HADN'T EVEN ON THE, THE BIKE TRAIL ON, WELL THE, YEAH, THE 12 MILLION FRANKLIN ROAD NORTH OF CONCORD, THAT WAS 2.5 MILLION.
THAT 12 MILLION INCLUDES THAT 2.5 MILLION OF THINGS THAT WE, YOU WERE ALREADY KIND OF IDENTIFYING WE COULD SHIFT LATER BECAUSE LIKE WE DON'T EVEN HAVE THE LAND FOR THAT.
WELL I'M SAYING THE 12 MILLION IS THE GAP FOR THOSE PROJECTS, RIGHT? SO HOW WOULD WE, THAT'S WHAT WE'VE BEEN, HOW WOULD WE FILL THAT GAP? EITHER BECAUSE WE HAVE A LITTLE MORE EXCESS REVENUE THAN WE PROJECTED, WE HAVE SOME MONEY IN THE CAPITAL PROJECTS FUND CAPITAL BALANCE, OR WE AND OR WE MOVE PROJECTS AROUND TO RECEIVE MONEY OR AGAIN, THOSE ARE ALL THE DIFFERENT POCKETS THAT COULD BE USED TO, TO FILL A $12 MILLION GAP.
IF THAT'S THE NUMBER, WELL, WE COULD GO OUT FOR A BOND ISSUE AND THEN PUT IT TO A REFERENDUM AND IF IT'S SUCH A POPULAR IDEA, MAYBE IT WOULD PASS AND THEN I'D STEP BACK AND KEEP MY MOUTH SHUT.
WELL, I MEAN YOU DO HAVE A, THIS $5 MILLION BOND ISSUE THAT WE WOULD SAY WOULD BE PART OF THE PROJECT.
YOU CAN'T JUST DO A REFERENDUM TO, I KNOW IT HAS TO BE WITH THE BOND.
THAT WHY A BOND ACCEPT THAT A BOND ISSUE IS, I UNDERSTAND THAT WE'VE DONE THAT BEFORE.
WE DID IT BEFORE WITH MALLORY LANG LANG, MR. SURE DID BACK IN THE EARLY TWO THOUSANDS.
I'M JUST SAYING IF IT'S SO POPULAR, THEN THE PUBLIC WILL SAY, LET'S SPEND THAT MONEY AND WE CAN ALL BE COMFORTABLE WITH THAT DECISION AND THEY'LL ISSUE VOTE TO ISSUE THOSE BONDS.
SO I'M JUST TOSSING THAT OUT WHEN WE'RE TALKING ABOUT BUCKETS WE CAN PULL MONEY FROM.
BACK TO THAT QUESTION ABOUT PUBLIC INPUT NEEDED.
BUT SO BOTTOM LINE IS, IS AGAIN, WE NEED CLEAR DIRECTION ON YOUR PROJECT PRIORITIES.
UM, AND THEN BASED UPON THAT WE'LL USE THESE BUCKETS OF MONEY AND WE WILL PRESENT TO YOU OR PROPOSE
[01:10:01]
CIP FOR ADOPTION LATER THIS SPRING.WHAT IS THE DATE OF THE CIP? MAYBE FEBRUARY 1ST FEBRUARY? WELL, FEBRUARY ONE IS THE, JUST THE BUDGET CHECKOFF BUDGET.
THAT'S THE, WE WOULD THEN WE, WE WOULD PRODUCE THE CIP DOCUMENT BY THE END, MIDDLE OF MARCH AND THEN WE WOULD REVIEW IT WITH YOU.
I THINK IT'S FIRST WEEK OF DECEMBER OR SOMETHING LIKE THAT.
DON'T YOU? I FEEL LIKE I NEED TO SEE THAT I THINK IN ITS ENTIRETY BEFORE I COULD REALLY SAY WHAT BACK AS MUCH.
I GUESS WHAT I'D LIKE A LITTLE BIT TO SEE IS NOW THAT YOU'VE DONE ALL THESE SLIDES ON THE SUMMARY SLIDE IS, YOU KNOW, WE'VE GOT ARPA MONEY, KIND OF A DOLLAR VALUE OF WHAT WE, YOU KNOW, 'CAUSE IN ESSENCE YOU'RE SAYING, WELL THE GAP IS 12 MILLION.
WELL MILLION ARPA MONEY WAS AN EXCESS 12 MILLION ANYWAY.
GRANTED IT'S BEING ALLOCATED ELSEWHERE.
BUT I'M JUST SAYING THAT YEAH, YOU GOT ABOUT FOUR.
SO THAT'S WASN'T LEFT OVER IN ARPA THAT, THAT I'D LIKE TO SEE A SUMMARY OF THE, THE BUCKETS, THE BALLPARK OF THE BUCKETS OF WHAT WE'RE TALKING, PULLING FROM ARPA, WHAT WE'RE TALKING, PULLING FROM GENERAL UNASSIGNED, GENERAL FUND UNASSIGNED BALANCE, THINGS LIKE THAT.
ABOUT 12 GAP, 12 MILLION LEFT OVER THERE WAS WHAT, 1.5 AND THEN INTEREST WAS ABOUT 2 MILLION.
YEAH, BUT YOU, IT'S NOT ALREADY LEFT OVER.
AND AGAIN, YOU COULD ALSO TAKE SOME OF THE UNSPENT STUFF THAT IS ALLOCATED RIGHT TOWARDS IT.
SO THAT'S WHY I'M GETTING ABOUT 4.7 OR SO.
SO I GUESS ON THAT SUMMARY THING, IT WOULD HELP IF IT'S ALL IN ONE PAY ONE TO KIND OF HAVE A BALLPARK THERE.
AND THAT, I MEAN I THAT'S FINE.
IT'S GONNA, I MEAN I, WHEN I PUT GENERAL FUND UNDESIGNATED BALANCE AT 27 MILLION, IT'S GONNA LOOK, YOU KNOW WHAT I MEAN? THAT'S WHAT I'M SAYING.
BUT REALLY WHAT WE NEED IS YOU TELL US WHAT PROJECTS YOU WANT TO DO WHEN, AND THEN WE WILL PIECE TOGETHER THE, THE PROCESS.
IF YOU'RE ASKING ME OUT OF THOSE POTS OF MONEY, CAN WE FIND $12 MILLION OVER THE NEXT TWO TO THREE YEARS? THE ANSWER'S YES.
THE QUESTION YOU NEED TO ANSWER IS, FOR THIS PARTICULAR THING IS, DO YOU WANNA SPEND $16 MILLION ON THIS PROJECT? THE OTHER PROJECTS I WOULD ARGUE YOU DON'T HAVE A CHOICE ON.
THEY'RE ALREADY WELL UNDERWAY.
AND I KNOW PEOPLE TALK ABOUT OLD SMYRNA, I JUST DUNNO HOW YOU COULD TRULY SIT THERE AND SAY OLD SMYRNA DOESN'T NEED TO BE DONE.
BUT YOU COULD CHOOSE TO DO THAT.
BUT LIKE ON THOSE THAT, ON A, ON THE, IF YOU GO BACK TO THAT KIND OF DETAILED SLIDE WHERE YOU SAID, I DON'T WANNA GET TOO MUCH INTO THE WEEDS, BUT THERE WAS SOME STUFF WHERE YOU HAD ALREADY IDENTIFIED WE COULD SHIFT THESE THINGS, UM, SEVERAL SLIDES BACK.
SO, UM, YOU KNOW, LIKE THE, THE OTHER TRAILS AND SIDEWALK SCHOOL CONNECTIONS, TWO SIX RIGHT THERE.
SO THAT PULLS THAT NUMBER DOWN AND THIS SERVICE CENTER NUMBER WOULD, WOULD MOVE.
SO THAT'S SEVERAL MILLION RIGHT THERE ALREADY.
THAT WITHOUT, UM, TAKING AWAY FROM A, A NEED, YOU KNOW, WE'RE STILL MEETING ALL THE NEEDS.
THOSE WANTS A TRAIL ON FRANKLIN ROAD NORTH OF CONCORD IS A WATT SERVICE CENTER IS A WATT.
WE'RE NOT TOUCHING ROAD IMPROVEMENTS.
THOSE ARE NEEDS, YOU'RE STILL PULLING OFF 3 MILLION PLUS IT'S, YOU'VE IDENTIFIED.
AND THEN AGAIN, UM, WE'RE REALLY TALKING ABOUT FI FINDING $6 MILLION OR 5 MILLION, 4 MILLION.
I MEAN, EVERYTHING ELSE ONLY WOULD LOOK AT THE, THIS SLIDE UPDATED TOTAL PROJECT COST.
WE HAVE MONEY ALLOCATED FOR ALL THESE THINGS.
AND SO IF THE TOTAL SUM OF THE PROJECT IS 16, THEN WE'RE TALKING ABOUT 5 MILLION.
SO 5 MILLION TRULY IS WHAT WE'RE LOOKING FOR.
THAT HASN'T ALREADY BEEN PLANNED FOR, PLANNED FOR.
AND WE JUST DISCUSSED HOW 3.5 OF THAT MAY BE MOVING OUT SEVERAL YEARS FOR THE TRAIL ON FRANKLIN ROAD, THAT ALL THESE OTHER THINGS, THE SERVICE CENTER, THAT'S ANOTHER THREE AND A HALF MILLION, THEY MAY BE MOVING OUT FARTHER.
UM, SO IT LOOKS LIKE THAT THAT'S PRETTY EASY TO FIND WITHOUT HAVING TO GO INTO DEBT OR WELL, NO, THAT'S, THAT'S $5 MILLION OF DEBT IN THAT SURE.
BUT THAT'S THAT NEW PIECE THAT WE'RE THE NEW PIECE THAT UN-DESIGNATED.
AND THE DEBT THAT WAS PLANNED WAS FOR THE PARKS FORD.
[01:15:01]
FOR A LONG TIME.THE PARKS BUILDING HAS BEEN IN THE PLAN FOR A LONG TIME.
OR, UM, INCORRECT DEBT OR UNEXPOSED.
IT'S A PLANNED DEBT FROM LOTS OF REASONS FOR THAT.
IT'S PLANNED WHETHER WE WOULD'VE, YOU KNOW, AGAIN, YOU, YOU COULD ARGUE THIS EITHER WAY.
IF WE DON'T DO THIS PROJECT, THEN WE PROBABLY DON'T NEED TO BORROW MONEY FOR THE PARK OFFICE BUILDING.
I MEAN, YOU COULD ARGUE IT EITHER WAY.
IT REALLY DOES COME DOWN TO, I'VE JUST KIND OF, DO YOU ALL WANT TO SPEND SIX, WHAT'S ESTIMATED TO BE $16 MILLION FOR AN INDOOR RACKET FACILITY AND THE ASSOCIATED COSTS AND ASSOCIATED THINGS.
IS THAT REALLY WHERE YOU WANT TO SPEND CITY, THAT AMOUNT OF CITY MONEY RIGHT NOW? AND IF IT IS, WE JUST NEED TO KNOW THAT AND WE'LL TELL YOU HOW TO PIECE IT TOGETHER RELATIVE TO OTHER NEEDS AND EVERYTHING ELSE.
BUT THAT'S THE FIRST QUESTION NEEDS TO BE ANSWERED.
SO, SO BACKING UP TO YOUR, YOUR SLIDE ON DECISION MAKING GOING FORWARD.
YOU KNOW, YOUR, ONE OF YOUR BULLETS ON THAT IS, IS IT A COMMUNITY AMENITY OR FINANCIAL INVESTMENT? 'CAUSE I KNOW AT TIMES PEOPLE HAVE BEEN SAYING, HEY, WE'RE GONNA MAKE MONEY ON THIS, WE'RE INVESTING.
BUT, YOU KNOW, IF YOU TAKE THE NUMBERS AND SAY YOU ROUND UP THE, YOU KNOW, THE, THE FREE CASH FLOW, I HATE TO CALL IT A PROFIT BECAUSE THIS ISN'T A PROFITABLE VENTURE, BUT THE FREE CASH FLOW, YOU GUYS HAD IT, YOU KNOW, WE FIGURED AT 300 SOME ODD THOUSAND DOLLARS, SAY, SAY IF THAT'S $400,000, YOU KNOW, TAKE IT UP AND UM, AND SAY IF YOU BUILD THIS AS, OR AMER GORMAN SAID FOR 13 MILLION, YOU DON'T COUNT THE ROAD, YOU DON'T COUNT THAT.
UM, AND IF YOU ASSUME YOU CAN DO THAT $400,000 EVERY YEAR AS A PERPETUITY, YOU KNOW, THE VALUE OF A PERPETUITY IS THAT FREE CASH FLOW DIVIDED BY THE AMOUNT YOU SPEND TO BUY THAT CASH FLOW.
AND THAT COMES OUT TO ABOUT 3%.
SO A 3% RETURN ON INVESTMENT FOR THAT, A RETURN ON CAPITAL.
CAN WE, I MEAN, PRIME RATE RIGHT NOW IS I THINK 8.5%.
SO THAT'S THE BASE PRIME RATE OF THE BANKS.
SO, UM, CAN WE AGREE, FIRST OFF IS SEVEN COMMISSIONERS THAT THIS IS AN AMENITY AND NOT A FINANCIAL INVESTMENT? YOU KNOW, THIS IS SOMETHING WE'RE, WE'RE JUST DOING FLAT OUT AS AN AMENITY VERSUS OTHER SPENDING CHOICES.
IS THERE ANYONE THAT DOESN'T DIS OR THAT DISAGREES WITH THAT? YEAH, I DO.
I THINK IT COULD BE A ASSERT, IT CAN BE AN AMENITY, BUT IT CAN BE A SERVICE TOO.
IT'S JUST, WELL THAT'S AN AMENITY AS A SERVICE.
BUT CAN WE, CAN, CAN WE AGREE THEN THAT IT IS NOT A FINANCIAL INVESTMENT? NO.
BECAUSE WITH THE WORK, WITH THE AD HOC COMMITTEE, THE REPORT WAS VERY THOROUGH.
AND I WOULD LIKE TO SAY AT THIS POINT THAT, UM, IN THE MEETINGS THAT I ATTENDED, WHICH WAS ALL OF THEM FOR THE AD HOC COMMITTEE AS THE LIAISON, UM, WE DISCUSSED THE OPPORTUNITY OF A FUND OF IT BEING AN ENTERPRISE FUND FOR SURE.
BUT IT WASN'T BROUGHT TO THE COMMITTEE THAT THE DEPRECIATION WOULD BE EXACTLY THIS.
NO, IT WAS, THERE WAS TALK ABOUT THE DEPRECIATION.
I I'M SURE THE, UM, COMMITTEE WOULD'VE REALLY ENJOYED HAVING THAT PIECE OF INFORMATION PLUGGED IN BEFORE THERE REPORT WAS FINALIZED.
SO, AND I KNOW AT THE END OF THE, UM, MEETINGS, THEY ASKED IF THERE WAS ANY MORE INPUT FROM CITY STAFF AND CITY STAFF ATTENDED ALMOST ALL THE MEETINGS, SPECIFICALLY THE FIRST ONES WHEN THE PRO FORMA WAS BEING DEVELOPED.
SO, UM, I'M SURE THAT THEY WOULD'VE REALLY APPRECIATED THAT PIECE OF INFORMATION SO THAT THEIR, THEIR REPORT COULD HAVE BEEN TECHNICALLY MORE ACCURATE.
BUT, UM, AS WE'VE DISCUSSED EARLIER, THIS IS, THERE IS PROFIT BROUGHT OUT OF THIS.
AND UNLIKE A BIKE TRAIL OR UM, ANYTHING IN OUR PARKS WITH OUR FIELDS, THOSE ARE NOT PROFIT GENERATING.
IN FACT, IN OUR PARKS DEPARTMENT, OUR COST RECOVERY IS 10%.
AND SO THIS SITUATION WITH TENNIS AND RAC AND OR INDOOR, INDOOR RACKET SPORTS WITH PICKLEBALL AND TENNIS DOES ACTUALLY PAY, PAY BRING IN REVENUE.
IT DOES, IT DOES PAY FOR ALL OF ITS COST.
IT DOES TAKE CARE OF REBUILDING THE ROOF AND TAKING ALL THOSE THINGS.
SO IT IS A FINANCIAL INVESTMENT, UM, AND AN AMENITY, WHICH I THINK IS A BEAUTIFUL COMBINATION, ESPECIALLY USING TAX DOLLARS.
BORROWING TAX DOLLARS FOR THE PEOPLE WHO WOULD USE THE FACILITY AND WITH THE AD HOC COMMITTEE'S WORK FROM THEIR REPORT.
AND THEN OF COURSE PEOPLE HAVE COME TO ME OUTSIDE OF THAT, JUST PEOPLE IN THE PUBLIC, IT LOOKS LIKE AT A VERY CONSERVATIVE ESTIMATE, THERE ARE 7,000 PEOPLE WHO ARE RESIDENTS OF BRENTWOOD WHO EITHER PLAY TENNIS OR PICKLEBALL ON AN ACTIVE BASIS.
SO FOR 7,000 PEOPLE IN THE CITY TO BE ABLE TO PARTICIPATE IN AN ACTIVITY THAT THEN TAKES CARE OF PAYING FOR ITSELF, UM, AND TAKES CARE OF ALL ITS LONG-TERM MAINTENANCE, SHORT-TERM MAINTENANCE IS SOMETHING WE UNIQUE TO OUR CITY THAT WE DO NOT CURRENTLY HAVE.
NOTHING ELSE IN OUR CITY DOES THAT.
SO IT'S EXCITING TO THINK ABOUT A NEW WAY OF THINKING AND I KNOW IT'S A NEW WAY OF THINKING FOR PEOPLE TO GET THEIR BRAIN AROUND THAT.
I MEAN, THIS PRESENTATION THIS MORNING, WE'RE AN HOUR AND A HALF IN, IT'S JUST ONE PIECE OF IT ALL.
UH, THE AD HOC COMMITTEE SPENT HOURS, HOURS AND HOURS WITH EXTREMELY
[01:20:01]
HIGHLY QUALIFIED INDIVIDUALS ON THAT TEAM.45 PEOPLE WANTED TO BE ON THAT TEAM.
UM, SO THERE'S A LOT TO UNDERSTAND AND IT'S HARD TO UNDERSTAND ALL OF THIS IN ONE MEETING.
SO I APPRECIATE THOSE OF YOU WHO HAVE COME AND THOSE OF YOU WHO ARE WATCHING ONLINE TO TRY TO LEARN MORE ABOUT THIS, UM, AND SEE THE DECISIONS THAT WE'LL HAVE TO MAKE.
'CAUSE IT ISN'T A SIMPLE DECISION.
AND KIRK, I APPRECIATE YOU AND JAY AND ALL THE WORK YOU'VE DONE.
DAVE BUNT, APPRECIATE YOUR TEAM AND ALL YOU'VE DONE.
THERE'S MEMBERS OF THE AD HOC COMMITTEE HERE.
I APPRECIATE WHAT YOU'VE DONE.
UM, KAREN, ON YOUR AREA OF FINANCE, THANK YOU FOR WHAT YOU'VE DONE TO PUT IT ALL TOGETHER SO THAT WE CAN MAKE THE MOST INFORMED DECISION.
IT'S THE REASON WHY BACK IN JUNE WE VOTED TO DEFER THE VOTE TO JUST TO STOP TO GET MORE INFORMATION.
WE TOOK FOUR MONTHS, TECHNICALLY FOUR MONTHS TO LEARN MORE INFORMATION BEFORE THE RACKET COMMITTEE PRESENTED THEIR FINDING.
AND WE'VE GOT MORE DATA HERE TODAY.
SO I JUST WANNA SAY AGAIN, A PUBLIC THANK YOU TO EVERYONE WHO'S PUT THEIR TIME AND EFFORT INTO THIS SO THAT WE CAN MAKE THE BEST DECISION POSSIBLE.
AND I'D APPRECIATE YOUR COMMENTS, COMMISSIONER SPEARS, IN TERMS OF THAT, I MEAN, I I FEEL LIKE YOU JUST DESCRIBED THE AMENITY.
I MEAN, I WAS ASKING ABOUT IS QUESTION NUMBER FOUR AN AMENITY VERSUS A FINANCIAL INVESTMENT? AND WHICH I THINK IS NOT REALLY A NEW CONCEPT AND IS WELL UNDERSTOOD AND IT'S FAIRLY EASY TO WRAP YOUR MIND AROUND.
AND I JUST WANNA POINT OUT THAT, I MEAN, THE NUMBER I'M LOOKING AT, LIKE IN THE AD HOC COMMITTEE PROPOSAL, THE NUMBER THEY'RE SHOWING SAY FOR NET REVENUE FOR FUTURE STRUCTURAL REPLACEMENT OR NEXT REV NET REVENUE AFTER FUTURE STRUCTURAL REPLACEMENT IS 6 12, 6 15 ANNUALLY.
SO THAT WOULD BE A 4.7% RETURN ON CAPITAL VERSUS, YOU KNOW, THE PRIME RATE OF 8.5%.
AND IF YOU JUST TAKE THE, THE BIGGEST NUMBER THEY'VE GOT, WHICH IS JUST THE NET REVENUE, $712,000 A YEAR, UM, DIVIDED BY THE 13 MILLION, WHICH IS JUST, JUST THE RACK FACILITY ITSELF, THAT'D BE A 5.48% RETURN.
SO, UM, IF AT SOME POINT, I KNOW IT'S, YOU KNOW, YOU'RE, I DON'T KNOW THAT YOU OR THE COMMITTEE'S SET RIGHT NOW TO I GUESS ADDRESS THAT, BUT I GUESS I DON'T UNDERSTAND HOW, BY ANY STRETCH IT'S A FINANCIAL INVESTMENT.
BUT I'M WILLING TO TALK ABOUT IT AS A, AS AN AMENITY.
I WAS JUST TRYING TO CLARIFY THAT QUESTION NUMBER FOUR, IS IT AN AN AMENITY VERSUS A FINANCIAL INVESTMENT? 'CAUSE I THINK IT'S CLEARLY AN AMENITY AND I WAS HOPING WE COULD JUST AGREE ON THAT.
AND IF IT IS AN AMENITY, YOU KNOW, THEN HOW WE GO FORWARD MAKING THAT DECISION.
WOULD YOU, IF YOU TURN TO PAGE SIX OF THE, OF THE, UH, COMMITTEE'S REPORT, WE'RE THE LARGEST ZIP CODE IN THE STATE OF TENNESSEE THAT PLAYS TENNIS.
UM, THERE'S PEOPLE THAT CAN'T, YOUTH CANNOT GET ON A WAITING LIST.
ALL THE WAITING LISTS ARE FULL FOR THEM TO, TO DO THIS.
SO IF WE'RE, IF WE'RE TALKING TODAY, WE EITHER DO IT OR WE DON'T DO IT AND WE DON'T HAVE A PARTNER IN THIS THING.
THERE'S NO OFFER ON THE TABLE TO PARTNER WITH ANYBODY.
SO WE DECIDE TODAY, WE EITHER DO IT OR DON'T DO IT.
IF YOU DECIDE NOT TO DO IT, YOU'RE NOT GONNA REPLACE THOSE TENNIS COURTS.
WILLIAMSON COUNTY HAS GOT A TEMPORARY SOLUTION AT THE Y BUT THAT'S GONNA GO AWAY.
WE ALL KNOW THAT'S GONNA GO AWAY.
HIGH WOODS IS NOT GONNA JUST ALL OF A SUDDEN SAY, WE'RE GONNA GIVE YOU THAT PROPERTY.
SO TO TAKE CARE OF THIS SEGMENT OF THE POPULATION, THE LOSS OF 23 COURTS, AND YOU CAN HAVE A FACILITY THAT MAKES A LITTLE BIT OF MONEY, BUT PAYS FOR ITSELF HAS ALL THE MAINTENANCE TAKEN CARE OF.
THAT'S WHERE I THINK WE ARE ON THIS.
AND I THINK TO THE GOOD JOB OF SHOWING THOSE NUMBERS, HOW WE CAN MOVE THINGS AROUND.
I REALLY LIKE TODAY'S PRESENTATION.
IT'S LONG AND IT'S HARD, BUT IT GAVE ME A LOT OF INSIGHT.
YEAH, I MEAN IT IS A, THANK YOU FOR POINTING THAT OUT.
'CAUSE IT IS A HUGE GROUP OF PEOPLE WHEN YOU COMBINE THE TENNIS AND PICKLEBALL AND, YOU KNOW, WE HAVE LOTS OF SPECIAL, THAT'S WHAT MAKES BRENTWOOD AWESOME IS WE HAVE SO MANY SPECIAL INTERESTS OF BIKERS OR, YOU KNOW, FOOTBALL PLAYERS THAT HAVE COME UP THROUGH BLAZE AND ARE NOW PLAYING ON CHAMPIONSHIP TEAMS, TEAMS THAT WENT THROUGH RAVENWOOD AND ALL THAT STUFF.
AND WE HAVE THIS WHOLE ASPECT OF THE COMMUNITY THAT FOR ALL AGES AND MALE, A AND FEMALE AND ALL AGES, THAT IT'S, IT'S A FEEDER INTO A SPORT THAT'S A, A LIFELONG THING.
AND WE HAVE, YOU KNOW, EVERYTHING IN OUR COMMUNITY ISN'T, IS AMENITY IN TERMS OF THE EXTRAS, THE LIBRARY, THE, YOU KNOW, WE HAVE OUR, WE HAVE OUR NEEDS AND OUR WANTS AND WE ARE BLESSED THAT WE HAVE A LOT OF WANTS THAT WE GET TO, UM, FULFILL THE WANTS FOR THOSE MEMBERS OF THE COMMUNITY.
WE HAVE GREAT PARKS, WE HAVE GREAT TRAIL SYSTEM AND ALL THAT.
AND THIS IS ONE MORE THAT IS A SIGNIFICANT POPULATION, UM, THAT WOULD USE IT AND COULD BENEFIT IT FROM IT.
[01:25:01]
WE HAVE A, YOU KNOW, ANDY BEAL WAS JUST USTA OF TENNESSEE NAMED, YOU KNOW, PROFESSIONAL OF THE YEAR FOR USTA AND ALL OF TENNESSEE.UM, SO THE ELEVATION IN THE COMMUNITY AND THE EXPECTATION OF JUST A TOP-NOTCH FACILITY IS THERE.
WE DO, EVERYONE DOES EVERYTHING REALLY WELL.
I MEAN, WE HEAR ALL THE TIME BEING ON THE LIBRARY BOARD, HOW MANY PEOPLE LOVE OUR LIBRARY AND SO FORTH.
AND OUR POLICE HEADQUARTERS, ALL OF IT, WE DO IT ALL REALLY WELL.
SO I APPRECIATE THAT WE'RE EXAMINING ALL OF THIS AND LOOKING AT THE BEST WAY TO PROVIDE THIS.
AND WHETHER YOU CALL IT AN AMENITY OR, OR A FINANCIAL INVESTMENT, I THINK IT'S A HYBRID ON THIS ONE.
IT IS AN AMENITY, BUT IT'S AN AMENITY THAT PAYS FOR ITSELF.
UM, AS OPPOSED TO OUR OTHER AMENITIES LIKE MOUNTAIN BIKE TRAILS OR WHATEVER THAT DON'T PAY FOR THEMSELVES.
WE STILL PROVIDE THEM FOR PEOPLE BECAUSE THAT'S ALL A PART OF THE WHOLE PACKAGE OF, IN THIS COMMUNITY OF A HEALTHY LIFESTYLE AND ALL THE DIFFERENT THINGS WE HAVE.
THAT'S WHY WE GIVE BACK TO OUR SCHOOLS TOO.
THAT'S, YOU KNOW, THAT'S A PLUS FOR THIS COMMUNITY.
SO IT ALL BUILDS TO THE GREATER ENVIRONMENT OF EVERYBODY.
UM, SO I THINK THAT THE CITY COMMISSION AND THE COUNTY COMMISSION AGREED THAT THERE WAS A NEED FOR TENNIS, THAT IT WAS GOING AWAY UNLESS SOMEBODY STEPPED UP AND DID SOMETHING.
THEY BROUGHT US THE PLAN AND IN JUNE WE WERE ALREADY TO VOTE ON APPROVING A CITY COUNTY JOINT PROJECT UNTIL THAT WAS SUGGESTED THAT WE PUT IT ON HOLD INDEFINITELY.
AND THE HANDWRITING WAS ON THE WALL FROM THAT NIGHT ON.
THIS RECOMMENDATION WAS A FOREGONE CONCLUSION.
IT JUST WAS, AND I DON'T CARE WHAT YOU SAY, I, AND I WILL BELIEVE THAT UNTIL THE COWS COME HOME, IT WAS A FOREGONE CONCLUSION.
I KNEW WHAT THE RECOMMENDATION WOULD BE.
AS I SAID, THE TAIL HAS BEEN WAGGING THE DOG.
I NEVER HEARD A, OUR PARKS DIRECTOR SAY ONE WORD ABOUT THIS PROJECT.
OUR PARK BOARD NEVER HAD IT ON THEIR AGENDA.
WHY COMMITTEE DIDN'T EVEN BRING IT TO THE VOTE OF ALL THE MEMBERS TO APPROVE THE REPORT.
AND THE COMMITTEE OVERSTEPPED WHAT THEIR MISSION WAS.
THEIR MISSION WAS TO BRING US INFORMATION, NOT MAKE A RECOMMENDATION, BUT THEY CAME OUT OF IT WITH A RECOMMENDATION THAT WE GO FORWARD WITH THIS.
AND NOW YOU'RE SAYING TODAY, OR YOU, WHICHEVER ONE I THINK YOU, THAT WE NEED TO MOVE FORWARD BECAUSE THERE'S SOME BUCKETS OF MONEY THAT CAN BE SHIFTED AROUND.
I I, I FEEL LIKE I'M GONNA HAVE TO LIVE WITH WHATEVER THIS FOREGONE CONCLUSION IS, BUT I'M NOT GONNA BE QUIET ABOUT IT.
WELL, KIRK ASKED FOR, I SAID WE NEED TO MOVE FORWARD.
OH, I'M ASKING WHAT ADDITIONAL INPUT PROCESS I DO.
YOU NEED TO MAKE THE FINAL DECISION.
I THINK WE NEED AT LEAST ONE OR TWO COMMUNITY MEETINGS.
I DO MAYBE AMONG THE HARD OF PEOPLE.
'CAUSE I GET A, I DON'T GET JUST PIE IN THE SKY ROSE COLOR GLASSES ON THIS FROM THE EMAILS AND THE MANY PEOPLE I TALK TO ON A DAILY BASIS.
SO I THINK THERE'S A LOT IN THE COMMUNITY THAT DON'T THINK THIS IS A WISE USE OF THEIR TAX DOLLARS.
SO, UM, I DON'T NECESSARILY THINK IT NEEDS TO BE, OR DO YOU WANT THIS HERE OR DO YOU WANT THAT THERE? I THINK MAYBE IT JUST NEEDS TO BE A COMMUNITY MEETING WHERE PEOPLE CAN GIVE THERE INPUT.
SO COMMISSIONER TRAVIS, AND SINCE WE'RE IN, YOU KNOW, THE OPEN MEETING, I FEEL THAT THIS IS OUR TIME TO DISCUSS IT AND SHARE OUR, OUR INSIGHTS.
UM, YOU KNOW, IT IS, IT'S MY UNDERSTANDING THAT WHEN YOU, WHEN YOU SAY THERE'S NO PARTNERSHIP ON THE TABLE, WHICH I GUESS IS FACTUALLY CORRECTED AS WE RIGHT, THERE IS NO PARTNER THERE IS BECAUSE THE PARTNERSHIP THAT WAS ON THE TABLE LA WELL, A YEAR AGO AND UP UNTIL, YOU KNOW, JUNE LAST FALL, REALLY JUNE.
BUT A LOT OF IT HAD TO DO THIS ADHOC COMMITTEE DIDN'T DO THIS REPORT UNTIL NOVEMBER.
THE COUNTY HAD TO DO THEIR, THEIR BOND ISSUE AND THEIR, THEIR BUDGET IN OCTOBER, WHICH WE KNEW, BUT I HAVEN'T HAD ANYBODY THEY THROUGH IN SEPTEMBER.
I BELIEVE THE COMMITTEE'S REPORT WAS IN NOVEMBER, AUGUST.
THEY WENT THROUGH THEIR OFFER WAY BEFORE THEN.
WELL, THEY DID BECAUSE THEY DIDN'T TELL 'EM WE DIDN'T WANT IT BECAUSE THEY HAD, THEY WALKED AWAY BECAUSE THEY HAD THE TIMELINE AND THEY KNEW WE WEREN'T GONNA MISS THEIR DEADLINE.
BUT FROM THE INFORMATION I HAVE FROM BRENTWOOD RESIDENCE ON THE COUNTY COMMISSION AND OTHER FOLKS AT THE COUNTY IS, THEY HAVEN'T SAID, THEY WOULD NEVER EVER CONSIDER IT AGAIN.
THEY SAID THAT THEY COULDN'T DO IT THIS PAST YEAR BECAUSE THEY DIDN'T FEEL LIKE IT WAS IN THE BEST INTEREST OF THE COUNTY, I BELIEVE WAS ALMOST VERBATIM WHAT WAS COMMUNICATED.
AND AT THE TIME THAT IS PROBABLY THE CASE IN PART BECAUSE, YOU KNOW, WE DEFERRED IT AND IT WASN'T GONNA MEET THEIR DEADLINE AND THEY COULD TELL THAT IT WASN'T GONNA MEET THEIR DEADLINE IS THEY MET WITH THE ADHOC COMMITTEE.
SO I DIDN'T KNOW IF, IF, HAVE YOU HAD PEOPLE AT THE COUNTY TELL
[01:30:01]
YOU THAT THEY WOULD NEVER, EVER CONSIDER THIS AGAIN? UH, I HAD ONE PERSON TELL ME THAT THEY DIDN'T THINK IT WAS LIKELY A COMMISSIONERI DON'T THINK I'M, I'M JUST SAYING THAT I, I DON'T HAVE ANY REASON TO THINK THAT A PARTNERSHIP, A BENEFICIAL PARTNERSHIP FOR THE LARGER COMMUNITY COULDN'T BE REBUILT IF THIS IS A DESIRABLE AMENITY.
NOW, YOU KNOW, LIKE, LIKE COMMISSIONER LITTLE SAID, YOU KNOW, WE MAY NEED TO DO SOME PUBLIC CONVERSATION ABOUT WHETHER OR NOT THIS IS A DESIRABLE AMENITY IN THE LARGER PICTURE OF THE CAPITAL IMPROVEMENTS ON THE TABLE FOR OUR COMMUNITY.
AND I THINK THAT'S A GOOD IDEA, UM, WHETHER IT'S A REFERENDUM OR PUBLIC MEETINGS OR WHATNOT.
BUT IF WE CAN AGREE THAT, YOU KNOW, AT SOME LEVEL THAT IT IS AN AMENITY THAT WE WANT TO INVEST IN FOR THE REASONS YOU MENTIONED ABOUT THAT COMMUNITY, I DON'T KNOW THAT THERE ISN'T AN OPPORTUNITY TO REBUILD A PARTNERSHIP.
YOU KNOW, IT MAY TAKE SOME TIME SINCE WE KIND OF WALKED BY THE OPPORTUNITY WHEN IT WAS TIMELY AND ON THE TABLE BY APPROVING A FRAMEWORK FOR THE DISCUSSION LAST SUMMER, WHICH WOULD'VE BEEN A GOOD SIGNAL OF GOOD INTENTION.
AND THE, THE COUNTY, OF COURSE CAN READ THE INTENT OF, OF DIFFERENT POLITICAL MANEUVERS.
BUT I, I WAS JUST CURIOUS 'CAUSE I I'VE NOT HEARD ANYTHING THAT SAYS THAT THIS WILL, COULD NEVER HAPPEN AGAIN IF WE HAD NO OTHER MEANS.
IF, IF WE, IF WE SAID THE ONLY WAY WE COULD BUILD THIS IS TO PARTNER WITH THE COUNTY, THAT'S ONE SITUATION.
IF YOU SAY THIS IS A GOOD PROJECT, IT IS AN AMENITY AND A FINANCIAL INVESTMENT THAT THE COMMUNITY WANTS.
BUT IF THE ONLY WAY TO DO THAT WAS TO BUILD WITH THE COUNTY, AND I'D SAY IT WOULD BE WORTH LOOKING AT THE COUNTY IF WE CAN AFFORD TO DO IT OURSELVES.
YOU PUT A LITTLE BIT OF MONEY IN THE BANK, YOU PAY FOR FUTURE MAINTENANCE, YOUR CITIZENS GET PRIORITY AND IT'S A WELL RUN FACILITY AND YOU'RE SERVICING WHAT I REFERENCED ON PAGE SIX.
IF THE COUNTY WANTS TO COME TO US AND SAY WE'RE INTERESTED, WE, I WOULDN'T SAY WE TELL 'EM NO, BUT THEY CAN COME IF THEY WANT TO AND SAY THEY'RE INTERESTED.
THE LAST WE HEARD WAS WE WITHDRAW.
WELL, I FEEL LIKE THEY CAME AND DID THAT AND WE SAID WE WEREN'T.
SO THE BALL'S PROBABLY IN OUR ACCORD FROM THAT STANDPOINT.
SO I THINK MEMBERS OF THE AD HOC COMMITTEE WENT BACK AND ASKED, UH, TO SEE IF THEY WERE WILLING TO COME BACK TO THE TABLE AND THEY WEREN'T AT THAT TIME.
I MEAN, THEY KEPT DOORS OF COMMUNI, YOU KNOW, LINES OF COMMUNICATION OPEN TO MAKE IT HAPPEN.
BUT I THINK IT, IT RESULT THAT IT'S OBVIOUSLY WORTHWHILE DOING IT, LIKE YOU SAID, BECAUSE THE COUNTY LOOKED AT IT, SAID, THIS IS WORTH DOING.
WE LOOKED AT IT AND SAID, THIS IS WORTH DOING.
DOING THING THAT'S CHANGED IS WHETHER WE DO IT ON OUR OWN OR WE DO IT WITH SOMEBODY, RIGHT, IT'S STILL WORTH DOING.
THE REQUEST OF CITIZENS ARE THERE.
WE HAVE HAD, YEAH, WE'VE HAD SOME EMAILS OF RECENT THAT SAID DON'T DO IT, BUT FOR A YEAR OR MORE, WE'VE HAD A DELUGE OF EMAILS AND SUPPORT AND PEOPLE, YOU KNOW, THIS ROOM WAS FULL OF PEOPLE FROM THE COMMUNITY IN SUPPORT OF IT.
SO THE, THE THE FACT THAT IT'S THE COMMUNITY STILL WANTS IT.
I DON'T GET THE SENSE THE COMMUNITY NECESSARILY WANTS IT.
I GET THE SENSE THAT THE PEOPLE WHO HAVE A VESTED INTEREST IN IT WANT IT.
ANY BIKE, I MEAN, A BIKE PERSON COMES AND SAYS THEY WANT, I GET EMAILS FROM A BIKE PATH, YOU KNOW, EVERYBODY HAS SPECIAL INTERESTS.
SO $13 MILLION SPECIAL INTEREST.
THAT DOESN'T INCLUDE, WE'RE ALL ENTITLED TO OUR DIFFERENT OPINIONS AND UM, YOU KNOW, WE LISTEN TO, UH, THE RESIDENTS, UH, AND WE ALL HEAR FROM DIFFERENT RESIDENTS AND IT'S OUR JOB TO, UH, REPRESENT THOSE, UH, THOSE INTERESTS, UH, AS BEST WE KNOW.
UM, YOU KNOW, THE THING THAT'S, UH, THAT'S KIND OF INTERESTING IS WE LOOK THROUGH, THERE'S KIND OF WANTS AND NEEDS, UH, BUT THERE'S A LOT OF FIRST WORLD PROBLEMS DEALING WITH ONE OF OUR C FOR SURE.
SO WE'RE VERY FORTUNATE, UH, AND BLESSED, BUT THERE'S A LOT OF DIFFERENT, UH, INPUT FOR SURE OUT THERE.
AND WE'RE ALL ENTITLED TO OUR DIFFERENT OPINIONS.
SO I AM JUST ASKING, HOW DO YOU ALL GET TO A DECISION? WHAT DO YOU NEED FROM US? WHAT, WHAT DO YOU WANT? PROBABLY NEED A LITTLE BIT OF TIME TO, UH, TO DIGEST THE, UH, THE NUMBERS, UH, AND HAVE A, UH, A DISCUSSION, UM, AFTER, UH, ONE OF THE, UH, THE BRIEFINGS, WHETHER IT'S, UH, FOUR WEEKS, SIX WEEKS, WHATEVER THE, UH, THE CASE MAY BE.
BUT I THINK THAT'S, UM, JUST TAKE A LITTLE TIME.
KEEP IN MIND THAT THE NUMBERS, IF I'VE GOT A, WE'VE GOT EIGHT WEEKS TO PRODUCE A FIVE YEAR CIP FOR YOU.
[01:35:01]
BIG FACTORS INTO PRIOR TO THAT.I MEAN, I MEAN THAT MAKES SENSE.
WELL, AND THE REALITY IS, I MEAN, AS I SAID, IT'S NOT ALL IN ONE YEAR, RIGHT? YOU'VE GOT MONEY IN, IN THE BUDGET FOR NEXT YEAR THAT MOVES ALL OF THESE PROJECTS ALONG.
YOU JUST KIND OF LEAVE AN UNANSWERED THE YEAR TWO AND YEAR THREE.
I THINK IT'S MORE IMPORTANT TO GET IT RIGHT, UH, THAN TO, UH, TO RUSH.
UM, AND IF IT TAKES, YOU KNOW, FOUR WEEKS TO FIGURE OUT HOW TO GET IT RIGHT, GREAT.
IF IT TAKES, YOU KNOW, FOUR MONTHS AND HOW TO FIGURE OUT, UH, TO GET IT RIGHT, UH, THAT'S A WHOLE NOTHER THING.
BUT TO HAVE, YOU KNOW, UM, I'LL CALL IT AN ARTIFICIAL DEADLINE, UM, BECAUSE WE'RE THE ONES THAT ARE IN CONTROL OF, UH, OF THAT, UH, I DON'T THINK WE RUSH BASED ON, UH, ANY TYPE OF A DEADLINE.
UNDERSTAND, I'VE STILL GOTTA PRODUCE A BUDGET FOR YOU.
UM, BUT, UM, WE'RE IN CONTROL OF THAT BUDGET AND, YOU KNOW, TO TRY AND PUSH OR MOVE QUICKLY BASED ON THAT.
I MEAN, I THINK YOU STILL COULD PRODUCE A BUDGET MAKING THE ASSUMPTION THAT ESTIMATING THAT WE NEED TO FIGURE OUT A WAY TO FINANCIALLY DO IT ON OUR OWN.
AND THEN IF WE CHOOSE NOT TO, YOU KNOW, THAT THAT MONEY BECOMES AVAILABLE AGAIN.
BUT IF YOU FACTOR IN THAT WE NEED TO FIGURE OUT A WAY TO MOVE THE, THE PROJECTS AROUND A LITTLE BIT AND MAKE, MOVE THE NUMBERS OUT OF THE BUCKETS THAT WE'VE TALKED ABOUT TO SEE IF IT CAN WORK AND WHAT THAT LOOKS LIKE, WHICH IS BASICALLY HOW YOU DO THE CIB ANYWAY.
RIGHT? SO WORST CASE SCENARIO, WHICH IS USUALLY WHAT YOU PLAN FOR, SO YOU COULD PLAN FOR WORST CASE SCENARIO AND TRYING, BASICALLY TRYING TO FIND THE, THAT EXTRA 5 MILLION, THAT'S ALL WE'RE TALKING ABOUT IS AN EXTRA 5 MILLION BECAUSE THE OTHER MILLION, NO, THERE'S 12 MILLION, BUT IT'S ALREADY ACCOUNTED FOR IN THE CIP LIKE YOU'VE, WE'VE TALKED ABOUT THIS.
I MEAN, THE DIFFERENCE, YOU'LL NOT ALL OF CONNOR, BUT YEAH, BUT I'M JUST SAYING, SO FINDING THAT EXTRA 5 MILLION FOR SPECIFICALLY A RACKET FACILITY OVER THE NEXT, HOWEVER LONG IT NEEDS TO WORK, HOW IT WORKS WITH ALL CONTRACTS AND ALL THAT SORT OF THING, THEN THEN, YOU KNOW, PROCEED THAT WAY.
AND, AND IF YOU HEAR FROM US THAT WE SAY NO OR SOMETHING ELSE COMES UP, THEN WE MAKE THAT DECISION THEN, BUT THEN IT'S WORST CASE SCENARIO FLESHED OUT IN THE BUDGET.
BUT AGAIN, I'VE GOTTA FIND 12 MILLION, NOT JUST 5 MILLION, A LOT OF WHICH IS, I I UNDERSTAND, BUT I'VE GOTTA SHOW WHEN AN EXTRA $12 MILLION IN THE CIP THAN WHAT IT SHOWS TODAY.
NOT 5 MILLION, JUST TO BE CLEAR.
THAT'S WHY WE PAY YOU THE BIG BUCKS
YEAH, AND, AND YOU KNOW, THE MAYOR SAID WE'VE GOT TIME BUT PUBLIC, YOU KNOW, YOU CAN DO A COMMUNITY MEETINGS.
I MEAN, THOSE ARE TRADITIONALLY, THERE'S NO, I THINK SO TRADITIONALLY THE WAY WE'VE DONE THINGS, USUALLY THAT'S JUST WHO CAN MOBILIZE THE MOST PEOPLE TO SHOW UP.
I MEAN, I'LL BE HONEST WITH YOU AS WELL KNOW.
SO, OH, I THINK WE'LL HEAR FROM PEOPLE AT OUR CITY COMMISSION MEETINGS DURING THE PUBLIC SPEAKING.
I DON'T THINK WE NEED THE WHOLE SPECIAL MEETINGS, BUT AGAIN, WE DON'T HAVE TO SIGN THAT TODAY, 12 MILLION BUCKS.
SO THE REFERENDUM MIGHT BE AN ORDER.
IT'S FUNNY THAT REFERENDUM, UH, DIDN'T HOLD, UH, WE WOUND UP, UH, BLOWING THE, UH, THE BACK OUT OF, UH, JIM MACARTHUR, THAT REFERENDUM, UH, ABOUT EXTENDING GENERAL MACARTHUR, UH, DIDN'T HOLD.
UM, THERE WAS THE, UH, THE VOTE AND IT WAS, UH, TO PROCEED FORWARD WITH, UH, EXTENDING, NO, IT WAS MALLORY LANE.
THAT WAS THE, THE EXTENDED, NOT GENERAL MACARTHUR.
IT WOULD NEVER HAVE GONE NORTH OF, NO, IT WOULD NOT W ROAD, BUT THERE WAS A REZONING BOAT.
BUT THE ROAD ITSELF WOULD'VE NEVER GOTTEN GONE.
YOU'RE SO, YOU'RE THE MOST, ONE OF THE MOST FISCALLY CONSERVED PEOPLE ON THIS BOARD.
I WOULD THINK YOU WOULD REALLY FAVOR THATUM, BECAUSE I'VE NEVER KNOWN YOU'RE A TIGHTFISTED WHEN IT COMES TO MONEY.
SO I DON'T NECESSARILY TAKE IT THAT WAY, BUT THANK YOU.
YOU ARE, I MEAN, YOU'VE ALWAYS BEEN ON AND I THINK THAT'S A GOOD THING.
SO ONE OTHER QUESTION HERE, BACK TO THIS.
IF IT'S AN AMENITY, I, WE WOULD, STAFF WOULD PRESENT IT AS AN AMENITY, NOT A FINANCIAL INVESTMENT.
UM, FROM A COST BENEFIT SIDE, IS THERE ANY DATA YOU WOULD LIKE US TO GET FROM THE COUNTY RELATIVE TO MARYLAND FARMS OR ANYTHING AS FAR AS THE UTILIZATION OF THAT? YEAH, THAT WOULD BE INTERESTING TO SEE.
COULD YOU EXPLAIN WHAT YOU JUST SAID ABOUT YOU, YOU WOULD SAY IT WAS A AMENITY, NOT A FINANCIAL INVESTMENT.
RIGHT? COULD YOU JUST EXPLAIN THAT A LITTLE BIT? WELL, JUST THE, THE COST OF THE CAPITAL FOR THIS DOESN'T MAKE FINANCIAL SENSE IF YOU'RE LOOKING AT IT FROM A RETURN ON INVESTMENT, WHICH IS FINE, I'M JUST SAYING THAT THEN IT FLIPS TO BEING AN AMENITY JUST LIKE MOST OF WHATEVER ELSE WE DO.
AND THEN IT BECOMES A, A QUESTION OF DO YOU WANNA SPEND 5 MILLION TO BUY WINDY HILL PARK FOR THAT AREA OF TOWN? IT'S, THAT'S THE COST BENEFIT PART OF IT.
BUT I CAN'T, I CAN'T MAKE A CASE TO YOU THAT THE FINANCIAL ASPECT OF IT PAYS FOR ITSELF WHEN YOU TAKE INTO ACCOUNT THE COST OF MONEY AND THE OPPORTUNITY COST OF THE CAPITAL.
[01:40:01]
NO QUESTION WHEN OKAY.YOU JUST, THE ONLY THING YOU'RE CONSIDERING IS, UM, OPPORTUNITY COST OF CAPITAL, WHICH IS THE DECISION WE MAKE ON EVERY SINGLE THING WE VOTE ON.
EVERY DAY WHEN WE, BUT I'M SAYING YOU MAKE THAT DECISION IN MY RECOMMENDATION AS AN AMENITY, AS JUST THE RIGHT AMENITY FOR THE COMMUNITY, NOT AS A FINANCIAL.
AND ONE MORE QUESTION ON OUR BUDGET, ANNUAL BUDGET GOING FORWARD, AND WE PROCEED WITH THE, UM, IN THIS RACKET FACILITY AS WE'VE DISCUSSED, IT IS A, UM, UH, ENTERPRISE FUND ON THE BUDGET ANNUALLY, WILL THERE BE A COST LINE WHERE WE ARE PUTTING MONEY INTO THIS RACKET FACILITY? WILL THERE BE MONEY FROM TAXES ONGOING ANNUALLY THAT GO, LIKE WE, WE DO WHAT, $3 MILLION FOR THE LIBRARY EVERY YEAR? OUR PARKS DEPARTMENT IS NO, IT WOULD BE A SELF-SUPPORTING.
SO IT WOULD NOT BE ON THE OPERATIONALLY IT'S SELF-SUPPORTING.
JUST MAKING SURE THAT THOSE WHO ARE LISTENING AND LEARNING UNDERSTAND THAT.
IT WILL PAY FOR, ITS, IT WILL PAY FOR ITS MAINTENANCE OPERATION, STAFFING REPLACEMENT, PLUMBING ISSUES.
AND IT ITSELF, AGAIN, BASED UPON THE MODEL, THE COUNTY WAS, FELT LIKE THEIR MODEL, YOU KNOW, THE MODELS AREN'T THAT DIFFERENT.
IT WILL, BUT AGAIN, TAKE CARE OF THIS, MY ISSUE OF NOT BEING A FINANCIAL INVESTMENT IS, IS THE CAPITAL OPPORTUNITY COST.
LIKE WE, OPPORTUNITY COST IS WHAT WE VOTE ON EVERY SINGLE TIME WE, WE VOTE.
BUT, BUT ALSO THE MONEY YOU LITERALLY SPEND ON IT TO BUILD IT, THE 13 MILLION BUCKS, RIGHT? WE'LL COME BACK.
IT'LL BE EFFECTIVELY PAID BACK WITH THAT MONEY THAT'S EARNED FROM THE PEOPLE THAT PAY TO PLAY TENNIS OVER TIME.
WE WOULD NEVER AGAIN, THAT'S, THAT, THAT'S A RETURN WE WOULD NEVER MAKE A FINANCIAL DECISION ON.
BUT NOTHING ELSE IN OUR CITY DOES THAT.
THERE IS NO OTHER ASSET IN OUR CITY THAT EVEN HAS THE POTENTIAL OF DOING THAT.
BECAUSE OF WHAT WE DO AS A CITY.
BUT FROM FINANCIAL ASPECT OF IT, YOU WOULD NEVER INVEST $13 MILLION TO GET A RETURN THAT PAYS FOR ITSELF OVER 30 PLUS YEARS.
AND I'M NOT SAYING THAT'S WRONG, I'M JUST SAYING IT, IT AFFECTS HOW YOU DECIDE WHETHER IT'S A GOOD CHOICE TO MAKE.
I JUST DON'T THINK YOU CAN JUSTIFY IT FINANCIALLY.
YOU JUST DECIDE TO JUSTIFY IT AS AN AMENITY.
THAT, THAT HAS, THAT DOES PAY FOR ITSELF OPERATIONALLY.
'CAUSE ALL OF OUR OTHER AMENITIES DON'T PAY FOR THE BECAUSE YEAH.
'CAUSE THAT'S WHAT WE DO, RIGHT? NO QUESTION.
WELL, WE DO, WE PROVIDE A SERVICE.
WE USE TAXPAYER DOLLARS TO PROVIDE SERVICES.
YOU GET HOME BEFORE THE AT ICES OR WHATEVER.
MY SISTER JUST SENT A TEXT FROM MEMPHIS.