HomeMy WebLinkAboutHuntington Beach Senior Center in Central Park - City Counci 5/5/2014 .
Huntington Beach
Senior Center in Central Park
City Council Study Session
May 5, 2014
Background
• Council approved contract with design consultants to
complete plans and specifications —July 1, 2013
• Identified as Strategic Objective at August 2 Strategic
Planning Retreat to provide updated cost estimates
and financing options at December 16, 2013 Study
Session
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t 1
5/5/2014
Current Status
■ Entitlement Approval Complete
v Completion of Construction Documents in process
Constructability Review
Construction Cost Estimate Updated
Cost Estimates to Date
Soft Costs
■ Additional A&E; Testing/Inspection $475,000
■ Construction Management $650,000
Sub-Total $1,125,000
Direct Costs
■ Building& On-Site Construction $16,000,000
Off-Site Construction $1,150,000
■ FF&E $500,000
Sub-Total $17,150,000
■ Contingencies $2,725,000
Project Total $21,500,000
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5/5/2014
Project Schedule
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Project Schedule*
➢ Completion of Construction June 2014
Documents
➢ Public Works Commision June 2014
Review
➢ Bid Period—Construction August 2014
Contract
➢ Secure Financing—Estimate September 2014
➢ Bid Opening/Review & September 2014
Contract Preparation
➢ Council Award of Construction October 2014
Contract
➢ Construction Period November 2014—May 2016
*Based upon secured funding source
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5/5/2014
Senior Center Financing Plan
Available Funding Sources
E'
FY=M71 4=Capital lmprove nent Plan Infrastructure rid" 11,500,000 Yes
FY 2012/1-3 GF Year End Transfer _ Infrastructure Fund, $1,000,000 _ FY 2014/15,
Gerieralfund Balance Set=Aside= General Fund $2 000.000 FY 2014/15
Total In-Hand $4,500,000
Capital CaM0atgn/D6nations(Est.)* TBD $2000.000• No
Total In-Hand&Capital"Campaign $6,500,000
*The amount of potential donations and Capital Campaign receipts is estimated only. No final amounts received.
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Local Funding Opportunities
® Private Donations/Capital Campaign:
➢ HOAG Hospital— Supported the OASIS Senior Center
in Newport Beach
➢ Local Area Hospitals—HBCOA members have
expressed their interest in supporting the project
➢ Grass Roots Fundraising—Led by the HBCOA and
other community partners
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5/5/2014
Senior Center Financing Plan Options
$159000,1000
In light of existing litigation, there may be some challenges
in securing financing. However, some options include:
General Fund Bond Issue
➢ Estimated annual interest rate of 0.25% to 4.10%*
➢ Estimated annual debt service payment of$1.2 million
➢ Total final principal and interest costs of$29.0 million
California I-Bank Doan
➢ Infrastructure Revolving Fund Doan may be an option
➢ Generally lower interest rates, estimated at about 4 to
10.5 basis points lower
9 *Subject to change and to prevailing capital market conditions.
Existing 30-'dear Debt Service Schedule
City of Huntington Beach
General Fund Supported Annual Debt Service
N $7,000 —— —!
s
r
m
$6,000 a Senior Center
G: b� ss
r a 2011 Series A
$5,000 a 2010 Series A
a Series 2004
$4,000 ( —
$3,000 ... ... .. ... ... .. ... .... .........
$2,000 _
$1,000 /
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M V O n W O
N N N N N N N N N N M M M M M M M M M M i V i V
ju
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5/5/2014
Building Features
� ,; ➢ 37,563 SF
Building
fjLarge Multi-
Purpose Room
"�'"4 ➢ Exercise Room
r ➢ Classrooms
v ➢ Staff Offices
rQDTransportation
� g 4 Office
��yt NXE'» 7 ➢ Meals Program
(,�,Y B Ara i' `- t v
f",� ,._ ..- ' .., '' ➢ Computer
Training Room
` ,— ➢ Game Room
Green Elements
Interior materials and finishes
Energy systems performance ;
'i'4 ..
• Energy conservation ih T fighting and
appliances
- OP',
In`docr air quality
• Drohght tolerAnt landsc ng�and water_
efficient rr�gation system
NO
ecycied eonstructa'on materials ,
Exterior paint and/roofing material
Coriililiance w/�alGreen building code
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5/5/2014
Text Steps:
Finalize Construction Documents
Secure Permits
Resolve Legal Issues
Secure funding
Council approval to advertize for bids
Huntington Beach
Senior Center in Central Park
-j Li E
WEST ELEVATON
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