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City of Decatur Capital Projects

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Joint City/City Schools Public Works Facility - Total cost is $5,830,000, net ... DeKalb County Board of Elections & Registrations manages the election. ... – PowerPoint PPT presentation

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Title: City of Decatur Capital Projects


1
City of Decatur Capital Projects Financing
History
  • October 25, 1955 800,000 (4,735,000
    adjusted current value)
  • Decatur Ebster Recreation Centers
  • Fire Station Number 1
  • Traffic Signals Improvements
  • City Hall Improvements
  • Transportation Improvements
  • November 1, 1950 166,000 (1,119,000
    adjusted current value)
  • Fire Station No. 2
  • Parks
  • Traffic Improvements
  • Public Facilities

2
Capital Improvements Last 10 Years
  • Streetscapes, including MARTA Plaza
  • Harmony Park Depot
  • Oakhurst, McKoy Ebster Parks
  • Glenlake Tennis Center
  • City Hall
  • Local Stormwater Improvements
  • Sidewalks

3
Determining Citys Capital Needs
  • Comprehensive Plan
  • Downtown Streetscapes Program 1994
  • Strategic Plan 2000
  • Capital Needs Task Force Report 2002
  • Recreation Facilities Master Plan 2003
  • Preservation Corridor Master Plan 2005
  • Community Transportation Plan 2006-07
  • Cemetery Master Plan (to be approved)

4
2006 General Obligation BondProject Categories
  • Transportation Improvements - 4,902,000
  • Parks Recreation - 5,803,000
  • Public Safety Facilities - 1,420,000
  • Public Works Facilities - 4,275,000
  • Total City Projects 16,400,000
  • School Facilities -
    16,500,000

5
2006 General Obligation Bond Transportation
  • Sidewalk Construction Repair - 1,500,000
  • To complete Citys comprehensive program to
    provide usable sidewalks on least one side of
    every street.
  • Implementation of Railroad Quiet Zones
  • Estimated cost is 365,000 per crossing for
    a total of 1,095,000. Project will only occur
    if 550,000 of funding is provided by others.
  • Vehicle, Bicycle and Pedestrian Improvements at 3
    Railroad At-grade Crossings
  • Total project cost estimate is 2,010,000.
    Bonds will provide match of 450,000, the balance
    to be provided by other sources.

6
2006 General Obligation Bond Transportation
  • Vehicle, Bicycle and Pedestrian Intersection
    Safety Improvements
  • Total project cost estimate is 1,000,000.
    Bonds will provide match of 200,000, the balance
    to be provided by other sources.
  • Grant Match for Improvements funded by Federal
    Transportation Funds
  • The City has already been awarded grants in the
    amount of 1,558,535 for projects with an
    estimated cost of 3,160,535. Bonds will provide
    the balance of 1,602,000.

  • Bonds
    Grants
  • Oakhurst Business District Streetscape Project
    1,007,000 500,000
  • Downtown Decatur Streetscape Project
    420,000 796,675
  • W.Ponce/W. Trinity Bicycle Lanes
    175,000 261,860

7
2006 General Obligation Bond Transportation
  • Grant Match for Improvements funded by Federal
    Transportation Funds
  • The City has applied for additional
    transportation funding of 3,000,000. The bonds
    would provide the Citys share (500,000).

  • Bonds
    Grants
  • Downtown Decatur Streetscape Project
    500,000 2,500,000
  • (North McDonough)
  • Wayfinding Signage Improvements - 100,000

8
2006 General Obligation Bond Parks Recreation
  • McKoy Park - 500,000
  • Reconstruct McKoy Pool
  • Construct walking trail around perimeter of
    park
  • Decatur Recreation Center - 2,045,000
  • Glenlake Park - 1,795,000
  • Greenspace
  • Land acquisition for trails - 500,000
  • Land acquisition for parks - 913,000
  • Improvements - 50,000

9
2006 General Obligation Bond Public Safety
Facilities
  • Fire Station One Improvements - 620,000
  • Fire Station Two Replacement - 800,000
  • Replacement of the Police Department Facility is
    not included in the General Obligation Bond Issue
    but it is anticipated that the facility will be
    replaced within the next 3-5 years.

10
2006 General Obligation Bond Public Works
Facilities
  • Joint City/City Schools Public Works Facility -
    Total cost is 5,830,000, net cost after land
    sale and contribution from School System is
    3,480,000.
  • Cemetery -
  • Total cost is 1,395,000, net cost after
    revenue from cemetery lot sales is 795,000.

11
Total Financing
  • 30-Year General Obligation Debt Bond Issue
  • 33,245,000 total
  • City Projects 16,400,000
  • School Projects
    16,500,000
  • Issuance Costs
    345,000
  • TOTAL 33,245,000

12
General Obligation Debt
  • Requires approval by referendum
  • Used to finance long term projects that are
    expected to last 30-50 years (several
    generations).
  • Obligation of the City requiring the full faith
    credit as collateral
  • Assures lowest interest costs
  • Beneficiaries of the projects contribute towards
    costs over long term
  • Projects can be completed within 3-5 years

13
Referendum
  • September 19, 2006
  • City of Decatur Voters Only
  • Five Questions on the Ballot
  • 1) Transportation Issue
  • 2) Parks Recreation Issue
  • 3) Public Safety Issue
  • 4) Public Works Issue
  • 5) School Issue
  • Each Question Stands Alone Five Votes Can be
    Cast
  • Referendum Must be Cleared by United States
    Department of Justice for compliance with the
    Voting Rights Act
  • DeKalb County Board of Elections Registrations
    manages the election.
  • Funds have been Budgeted in the FY 06-07 for Cost
    of Election.

14
Tax Levy
  • Tax levy - 1.54 mills (.54 mill existing 1 mill
    new)
  • New millage (1 mill) would be assessed in second
    half tax bills due December 20, 2006.

15
Taxpayer Effect
  • 250,000 value 125 annually
  • 10.42 _at_ month
  • 325,000 value 163 annually
  • 13.58 _at_ month
  • 400,000 value 200 annually
  • 16.67 _at_ month

16
Financial Team
  • City and City School Staff
  • Robert Morrison, Government Funding Advisory
    Associates - Financial Advisor for the City
  • Dianne McNabb, A.G. Edwards - Financial Advisor
    for City Schools
  • Murray Barnes Finister, LLP Bond Counsel
  • McKenna Long Aldridge, LLP Disclosure Counsel
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