2020-08-26 Handout @ Meeting - Laserfiche WebLink

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Project Costs A rough budget of $300,000 (excluding Audio-Visual upgrades) was established for a limited scope renovation of City Hall. Bids have now been received and the project can be constructed within that budget. However, it is helpful to look at the wholistic budget for the project, adding in the A/V upgrades, construction contingencies, furnishings and a few COVID and security related expenses not part of the original bid. Therefore, a total project budget of $400,000 is contemplated. ProjectCostSummary ConstructionBaseBid$215,300 AddAlternates(1,2,4,6&7)$41,300 Architect/EngineeringFees$59,466 ConstructionContingency(10%)$25,660 Furniture$2,000 SecuritySystem$10,000 A/VUpgrades$46,273 TotalProjectCost$399,999 Financing Plan The Council has also discussed a City Hall Renovation Project Financing Plan, although a final plan was not adopted and was to be revisited upon receipt of bids for the work. From our previous discussion: An analysis of employee hours allocated to activities in the Water, Sewer, and Storm Water funds shows that it would be appropriate, at a minimum, for 26% of the remodel costs to be paid from these enterprise funds. Additionally, the water department occupies, wholly, a space representing about 10% of the entire building (excluding the Fire Hall bay area). This space is for chemical feed, metering, SCADA and other water-only functions. Therefore, an additional 10% contribution from the Water Fund is proposed. The Capital Equipment Fund has a current balance of roughly $250,000. It is important to remember that this balance Balance. This fund originally had items such as City Hall HVAC, carpet and other similar items programmed into it. Therefore, it would be very appropriate to take money from that fund to pay for the parts of this renovation project which were specifically enumerated in our former Capital Improvement Plans (CIPs). However, in our more recent updates to that those items out, assuming they would come from general fund excess fund balance. Therefore, if we use the Capital Equipment Fund to help pay for any of the renovation project, we will need to adjust its CIP, and therefore, our annual contribution to it, accordingly. This would be a sensible strategy, if the Council