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Golf Course Committee

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Golf Course Committee. Robert Pickett Mayor Keith L. Volz Bob Wilson Don Douglass Council Member Brock Thomas Shanna Chastain Tom Tervo Kathryn Billings, Town Manager Mark Pond Hugh Cates Richard Mandell , ASLA, RLA Sheree Crane Davis Hoke Larry Lain.

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golf course committee

Golf Course Committee

Robert Pickett Mayor Keith L. Volz

Bob Wilson

Don Douglass Council Member Brock Thomas

Shanna Chastain

Tom Tervo Kathryn Billings, Town Manager

Mark Pond

Hugh Cates Richard Mandell, ASLA, RLA

Sheree Crane

Davis Hoke

Larry Lain

slide6

FAILING INFRASTRUCTURE

In the last several years expenditures on failing infrastructure has climbed to a point that during this fiscal year we have spent over a quarter of a million dollars in repairs and replacement.

Electrical System

Storm Drain

Irrigation components

slide8

NEED FOR RENOVATION

The need for renovation is well documented.

Survey Results

Golf Course Committee Recommendations

Staff Reports

Consultant Report

Age of Course and the repair bills from the

infrastructure

slide9

RECOMMENDED APPROACH

The recommended approach is Alternate B (with some reductions) with the goal of an estimated cost of $3.5 million.

The current favorable bid environment we may expect a considerable decrease in bid prices.

slide10

DEBT ESTIMATES

Conservative interest rate estimates of 5% on 20 year debt service

Annual debt payment of $281,000

Estimated annual debt payment equates to .07 cents in tax dollars

.07 tax rate on a $100,000 home is $70

.07 tax rate on a $350,000 home is $245

slide11

VARIABLES

Variables that will influence the need to use tax dollars to repay the debt

Revenue Increases

Increase in play at the course – Conservative 7% increase

Increase in fees at the course – Conservative $3 increase

Conservative estimate of $185,000 annual increase

Expense Decreases

Eliminate Infrastructure “surprise” expenses

Decrease Maintenance expenses by 20-25%

Conservative estimate of $xx,xxx annual savings

Net increase in revenues and savings in maintenance could cover the debt service

slide12

Cost for Construction Years 2010/2011 and 2011/2012

Tax dollars and some reserves are required to balance the budgets for the construction years.

Both years will have reduced revenues and some reductions in expenditures

Estimated short fall in 2010/2011 …. $

Estimated short fall in 2011/2012 …. $

slide13

MANAGING RISK

Failing Infrastructure

Weather Conditions

Competition

Funding future needs

slide14

Council requirements to proceed with proposed renovation

Instruct manager to sign contract with Richard Mandell to begin Construction Documents by April 1, 2010. Amend current budget ($90,000) to commit funds for this contract

Instruct staff to build the 2010/2011 budget to proceed with renovation plans

Review bids in late summer and select a contractor

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