seawall meeting
Download
Skip this Video
Download Presentation
Seawall Meeting

Loading in 2 Seconds...

play fullscreen
1 / 16

Seawall Meeting - PowerPoint PPT Presentation


  • 112 Views
  • Uploaded on

Seawall Meeting. Saturday, July 24, 2010. Welcome!. Introductions Committee Chairman: Gov. Rick Myers ME Engineering : David Walker From ODNR: Chuck Wadley Advisory committee: Girard Besanceney. The Project. Evaluation and Planning Engineering and Design Construction.

loader
I am the owner, or an agent authorized to act on behalf of the owner, of the copyrighted work described.
capcha
Download Presentation

PowerPoint Slideshow about ' Seawall Meeting' - zuri


An Image/Link below is provided (as is) to download presentation

Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.


- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -
Presentation Transcript
seawall meeting

Seawall Meeting

Saturday, July 24, 2010

welcome
Welcome!
  • Introductions
    • Committee Chairman: Gov. Rick Myers
    • ME Engineering : David Walker
    • From ODNR: Chuck Wadley
    • Advisory committee: Girard Besanceney
the project
The Project
  • Evaluation and Planning
  • Engineering and Design
  • Construction
evaluation planning
Evaluation & Planning
  • Shirk and O’Donovan
    • Evaluate existing conditions
    • Determine need
    • Devise plan
engineering and design
Engineering and Design
  • ME Engineering
    • Design and Specifications
    • Estimate costs
    • Solicit bids from contractors
    • Evaluate bids and recommend contractor
construction
Construction
  • Phase I
    • the “L” wharf
  • Phase II
    • the “T” wharf
  • Phase III
    • the island & bridge
financing
Financing
  • Cost of project
    • Estimated at this time
    • Based on engineering and informal talks with contractors
  • Cost of funds
    • Recommendations of advisory committee
    • Discussion with banks
cost of project
Cost of project
  • Estimated (maximum amounts)
    • Phase I $367,200
    • Phase II $312,840
    • Phase III $125,460
    • Total $805,500
    • Phase in over time
cost of funds
Cost of Funds
  • Advisory committee recommendations
    • Sell rental houses
    • Apply funds raised to principle
    • Temporary capital assessment
    • Incentive for members
cost of funds1
Cost of Funds
  • Discussion with banks
    • Funds are available
    • Recommend selling houses
    • Demonstrate member willingness to accept assessment
cost of funds2
Cost of funds
  • Interest only on the first year of each phase
  • Current rates: prime + 0.5%
  • Today: 3.75%
  • Can lock in fixed rate at our option
the big question
The big question
  • WHAT WILL IT COST ME????
  • Using current maximum cost estimates and 5% rate (today is 3.75%)…
  • $150.00 per member per year
  • Temporary.. Earmarked to Seawall
  • This would retire debt in 17 years
member resistance vs support
Member resistance -vs_ Support
  • Current bill : Proposed:
    • Dues 675 -Dues 675
    • Capital 100 -Capital 250
    • ILYA 1 -ILYA 1
    • Tax 54 -tax 65
    • Total 830 -Total 992
current issues
Current Issues
  • Presently being discussed by board
    • How to get the $150
      • 1- increase capital contribution
      • 2- spread cost among dues and rentals
      • 3- combination of 1 and 2 above
current issues1
Current Issues
  • Presently being discussed by board
    • Member incentive
      • Bring a new member, your $150 is waived
    • Lump sum payment
      • Pay principle only, reduce payback time
    • Donations
    • Fund raisers
      • Commodore association
      • Auxillary
ad