Police building Presentation 8-30-12 Police Building Construction Options and Financing
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• Recommendations of Police Building Ad Hoc Committee presented to City Commission on June 11, 2012
• Decision to postpone decision and look at alternatives
during budget workshops
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Presentation Outline
• Review options for police building
• Compare costs with available funds to determine
additional funding needed
• Consider affordability
• Direction from Commission
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Option 1. 14,000 s.f. next to City Hall
*Cost $4,484,352
*Funds Available $2,600,000
*Additional Funding
Needed $1,884,352
*Yearly Debt
Repayment
$152,947
Cost does not include design already completed
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Option 2. Building Committee Recommendations
From To
* Cost $3,377,280 $4,231,183
* Funds Available $2,600,000 $2,600,000
* Additional
Funding
Needed $777,280 $1,631,183
Yearly Debt
Repayment $63,089 $132,398
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Option 3. Expand/Remodel Existing Station * Cost ? * Funds Available $2,600,000 * Additional Funding Needed ? *Yearly Debt Repayment ?
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Option 4. Mayport Rd. Site 14,000 s.f. *Cost; Building $3,570,000 *Cost; Land $2,000,000 *Funds Available $2,600,000 *Additional Funding Needed $2,970,000 *Yearly
Debt Repayment $241,066
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Option 5. Mayport Rd. Site 10,000 s.f. *Cost; Building $2,550,000 *Cost; Land $2,000,000 *Funds Available $2,600,000 *Additional Funding Needed $1,950,000 *Yearly Debt
Repayment $158,276
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Review of Options Additional Annual Funding P&I 1. City Hall 14k s.f. $1,736,328 $140,906 2. City Hall 10k s.f. - Lowest cost $3,377,280 $63,089
- Highest cost $4,231,183 $132,398 3. Existing Station ? ? 4. Mayport Rd. 14k s.f. $2,970,000 $241,066 5. Mayport Rd. 10k s.f. $1,950,000 $158,276 Funding
available from Half-Cent Sales Tax Fund ranges $200,746-$528,010/year
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Commission Discussion
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