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The following table summarizes the main elements of the four options for a Civic Center develop- ment and related improvements. Site options for Civic Center development are included in Attachment C. A more detailed description of each of the project elements and costs is included in Attachment D. A comparison of each of these options with the Civic Center Vision design principles is included in Attachment E. Component Option A Option B Option C Option I) City Hall Building Full consolidation City Hall scenario, w/parking for 2020+ need Community Safety Base building w/parking, back-up 911 2008 need 2018 need 2028 need 2020+ need ..... ........................................................... .......................................................................................................................................................................................................................................................................................... Move property and forensics ..................................................................................................... ~!c~7(9[p~E...{~r~...~p.~.i.~...pps...[p...9~!r~.~!c~ .............................................................................................................................................................................................................................................. Civic Center Social service agency space and -- 15,000 sf 20,000 sf 20,000 sf ..................................................................................................... ~P[ql/~5~...~5!...~!~.rPP..!}P[?~Y...!Pt. ....................................................... :.r ............................................... ~ ................................................. ~ ..................................................... r: ........................... ..................................................................................................... }~EP~.E..?.C~Pr~!Y.PEd~Eg ......................................................................................... r.r ............................................... ................................................. ..................................................... :z ........................... Improve park blocks and make civic street improvements $28.2 $41.7 $51.2-51.5 $111.5 Total Project Cost million million million million It is possible to pay for a new Community Safety facility without any additional funding approved by the voters by using $28.2 million in internal funds. The project would meet current needs only, and would not include any of the Civic Center amenities at this time, although those additional elements could be pursued later. The council could ask voters to contribute to the project to increase the facility size and add some of the amenities, and/or to add replacement of City Hall. Five financing plan options are described in Attachment E. Options A through C1 and Option D use the maximum amount of internal cash to reduce or eliminate the additional contribution from the taxpayers. The internal funding consists of the Facility Reserve, limited tax bonds, deferred revenue from the Telecommunications Tax lawsuits, deferred revenues from right-of-way pay- ments in the General Fund, Urban Renewal Agency funds, sale of assets, interest earnings, and other miscellaneous sources. In options B through D, General Obligation ("GO.") bonds are used to enhance the facility and add amenities recommended by the Mayor's Committee. The use of the deferred revenue from the Telecommunications Tax lawsuit and from right-of-way payments in the General Fund carries some risk. Those funds are the subject of legal action and may need to be returned to the companies that paid the taxes. The City is in a good position to think that those funds will be available, however. If the lawsuits are unfavorable to the City, staff will need to return to the council with a back-up funding plan. In the interim, design could begin, but the City will not sign a construction contract until the funds are available. A summary of the financing plan options is set out in the following chart. The tax rate in Year 1 would range from $0.16/$1000 of AV to $0.88/$1000 of AV. The average taxpayer impact in Year 1 would range from $26 to $144. The tax rate and taxpayer cost would go down over time, with the 20-year average being less than the first year cost. The Budget Committee recently approved revised debt policies that set a limit on net direct debt of 1.0% of real market value. After issuance of the debt for this project, the City's net direct debt to real market value in FY10 would range from 0.3% to 0.6%, which is under the policy limits. L:\CMO\2004 Council Agendas\M040714\S040714A. doc