REPORT TO COUNCIL
SUBJECT
Title
Review of Various Infrastructure Improvement Needs and Funding Levels for Consideration as Part of a Potential November 2018 Infrastructure Ballot Measure and Approval of a Related Budget Amendment
Report
BACKGROUND
The City has a number of unfunded capital infrastructure needs and in 2017 and 2018 the City Council held Study Sessions to discuss infrastructure. These unfunded needs include major projects that affect City services such as the Civic Center Campus, City maintenance yard, and fire stations and also quality of life improvements including parks and recreation, and community services facilities. One of the major projects from a need and cost perspective is the International Swim Center (ISC) and Community Recreation Center (CRC). Since 2007 the City has analyzed various options related to building a new ISC and CRC to replace the existing aging facilities. A full schematic design was developed, and an Environmental Impact Report (EIR) was certified by City Council on September 20, 2016.
On April 4, 2017, Council approved an Agreement with Project Finance Advisory, Limited (PFAL) to conduct a financial feasibility analysis of the project as envisioned. The current cost of the project as schematically designed is $250-$300 million, which raised financial feasibility concerns. PFAL's work included evaluating public and private funding sources, analyzing operations and lifecycle costs, conducting community opinion research, and assessing project delivery options. Study Sessions were held with Council on July 18, 2017, February 22, 2018 and April 24, 2018.
February 22 Study Session
On February 22, 2018, staff and PFAL representatives presented the ISC/CRC project findings to the City Council. The presentation provided the project background, financial feasibility, funding options, and preliminary community opinion research results for a sales tax or property tax measure. In addition, the presentation provided an ...
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