Page 1

Morrisville Town Council Work Session April 22, 2019, 6:30 pm

1. Call to Order

2. Discussion Items2.a. Town Center Core Project Public Facilities Work Session- Todd Wright, Assistant

Town Manager and Eric Thomas, DFI Project Manager2019-95-0 ATTH 01 Town Center Core Public Facility Work Session.pdf

2.b. Continued Bond Referendum Discussion (deferred from April 9 meeting) - MarthaPaige, Town Manager and Jeanne Hooks, Assistant to the Manager/Budget Manager2019-66-0 Presentation Project Updates.pdf2019-66-0 Presentation FY2020 CIP Bond Referendum Work Session 03262019.pdf2019-66-0 ATTH 01 - Comprehensive CIP Draft Handout.pdf

2.c. Town Council Roundtable

3. Adjournment

Town Council Agenda Item Report

Agenda Item No. 2019-95-0Submitted by: Todd WrightSubmitting Department Administration Meeting Date: April 22, 2019

SUBJECTTown Center Core Project Public Facilities Work Session- Todd Wright, Assistant Town Manager and Eric Thomas,DFI Project Manager

Recommendation:Provide feedback on Town Center Core Public Facility needs.

Updates/History of Briefing:Not Applicable

Executive Summary and Background Information:The purpose of the work session is for DFI to provide an audit update and to discuss the Town Center Core PublicFacility needs. The feedback provided by Town Council will be incorporated with the Houseal Lavigne developmentconcepts that will be shared with Council later this summer. At the work session, staff will provide research any casestudies on best practices for successful town centers. Council will have the opportunity to work as a group do providefeedback on the Town Center Core Public Facility needs. The attached presentation (ATTH 01) will be used tofacilitate the group discussion.

Potential Options:To be determined at work session.

Staff Recommendation:Provide feedback on public facility needs.

ATTACHMENTS 2019-95-0 ATTH 01 Town Center Core Public Facility Work Session.pdf

Town Center Core

Public Facilities Work Session

April 22, 2019

Town Center Core Public Facility Discussion

Overview

• Provide DFI audit update

• Best practices/case studies for successful Town Centers

• Discussion about preferred public facilities within Town Center

Best Practices in Successful Town Centers

Critical Mass

• Similar type businesses including food and beverage retail, anchor/destination retail, and multiple places open after 6 p.m.

Mix of Uses

Mix of uses that are spatially integrated, or within walking distance. Uses can include:

• Retail

• Office

• Residential

• Hospitality

• Entertainment and event spaces

Evening & Night Life

“Life after 5 p.m.”

• Conferences and conventions book locations where there are things to do after meetings adjourn

• Entertainment anchors can extend the life of the downtown. Examples include:

– Movie theaters

– Performing arts centers

– Brew pubs

Residential Base

• Supports commercial and retail sectors

• Fosters a sense of community

• Provides a steady stream of traffic to downtown businesses

Parking Solutions

• Availability of parking all-day or extended hour parking options.

• Limitations in parking, such as 2-hour time limits, restrict spending.

Gathering Spaces

Incorporation of community gathering spaces for special events, farmers markets, summer concerts, outdoor movies, etc.

Examples of gathering spaces include:

• Open markets

• Interactive water features

• Pocket Parks

• Amphitheaters

Walkability

Comfortable for pedestrians

• People enjoy an open air space that maintains a sense of “enclosure” through clear perimeters

• Street-level pedestrian scale with public art, active storefronts, attractive landscaping and sidewalk amenities improve the walkability and enjoyment of downtown areas

Public/Private Investment

Supported by public and private investment in the future growth and development of the downtown.

Benefits of a Downtown

• Examples show that town center residential apartments can attract young professionals, who prefer walkable, urban communities

• Research shows that businesses prefer locating in downtowns or walkable “live-work-play” communities due to advantages in attracting and retaining workers, creative collaboration, and creating desirable brand identity and corporate culture, etc.

Case Studies of Successful Town Centers

SUWANEE TOWN CENTER PARKSuwanee, GA

Suwanee Town Center

Location: Suwanee, GA

Distance to Atlanta, GA: 28 mi.

Year Developed: 2003

Population When Built: 11,392 (2003)

Suwanee Town Center

• 63 acres total development

• 100,000 SF of retail

• 87,000 SF of office

• 147 townhomes and condominiums 85 single-family homes

• City hall

• Performance stage & 1,000 seat amphitheater

• Interactive water feature

• 10-acre park

Suwanee Town Center

Suwanee Town Center was built “from scratch” in 2003 as a response to two community goals:

• Preserve open space

• Create a vibrant, attractive downtown and community gathering place

A broad community green is flanked by one- to three-story vertical mixed-use boutique retail and residential development, anchored by public amenities and City Hall

Suwanee Town Center

Town Center is now home to outdoor concerts & movies, cultural festivals, food trucks, and recreational events that draw over 200,000 visitors annually

The success of Town Center Park inspired Suwanee to adopt a Master Plan for a $12 million expansion of the park in 2016

LIBERTY CENTERLiberty Township, OH

Liberty Center

Location: Liberty Township, OH

Distance to Cincinnati, OH: 20 mi.

Year Developed: 2015

Population When Built: 38,481

Liberty Center

• 65 acres total development

• 660,000 SF retail

• 75,000 SF office

• 240 Residential Units

• 130-Key AC Hotel by Marriott

• 16-Screen Movie Theater

• Indoor play area, outdoor fountains, children’s discovery center

• Library (in development)

Liberty Center

• Private development is integrated with public parking, two public plazas and an active-space green roof

• Vertically mixed-use development ranges from one- to four-stories

• A combination of national chain and locally-owned retailers are supported by anchors Dick’s and Dillard’s

Liberty Center

University of Cincinnati Economics Center estimated that by 2018, Liberty Center could be responsible for generating more than $9.5 million in tax and fee revenue

One year after opening, Liberty Center developer Steiner & Associates reported being pleased with visitor traffic, occupancy levels, job creation, and Liberty Center’s role as a local gathering spot

BILTMORE PARK TOWN SQUAREAsheville, NC

Biltmore Park

Location: Asheville, NC

Year Completed: 2009

Distance to Downtown Asheville: 8 mi.

Population When Built: 78,078

Biltmore Park

• 42 acres total development

• 165-key Hilton hotel

• 270,000 SF Class-A office

• 283,000 SF retail/ dining/ entertainment

• 120 apartments, 156 townhomes & condominiums

• 65,000 SF YMCA

• 15-screen movie theater

Biltmore Park

Biltmore Park is a planned live/work/play center in Asheville designed to be both livable and sustainable.

The Town Center ranges from two- to four-story vertically mixed-use residential and retail development featuring boutique shops and national chains.

Town Center Core Public Facilities Discussion

Town Green

• Type of programming

– Active Recreation, Music and Performances, Passive

– Parks & Recreation Master Plan Programs in Morrisville that are currently underserved

• Preferred Location within Town Center (heart of Town Center, East of Church Street or more visible from Town Hall Drive- see next slide)

Town Green Preferred Location

On Town Hall Dr.

Heart of Town Center

East of Church Street

Community Facility

• Preferred programming

– Active Recreation, Event Space, Performing Arts, etc.

• Public rental, Chamber of Commerce meetings, small conferences, senior citizens programs

• Preferred location

– Co-located with Town Green or stand alone facility

Town Office Space Needs

• Space Needs Assessment Recap

– Existing and future Space needs

• How to accommodate the needed space?

– New stand alone building

– Addition to existing building(s)

– Lease from private entity

Transportation Projects

Pedestrian Accessibility

Next Steps

• Incorporate desired public facility programs into Houseal Lavigne’s two buildout strategies

• Houseal Lavigne present information

– Strategies will include parking needed for both scenarios

• TIA for both buildout models

Questions

Town Council Agenda Item Report

Agenda Item No. 2019-66-0Submitted by: Martha PaigeSubmitting Department Administration Meeting Date: April 22, 2019

SUBJECTContinued Bond Referendum Discussion (deferred from April 9 meeting) - Martha Paige, Town Manager and JeanneHooks, Assistant to the Manager/Budget Manager

Recommendation:Continued Review and Discussion

Updates/History of Briefing:This work session is a continuation of the CIP/Bond Referendum discussion by Town Council on November 27, 2018and April 9, 2019. The April 22, 2019 staff presentation will continue with an overview of bond referendums, potentialbond projects, and a look/next steps based on Town Council's discussion.

During its review of the Capital Improvement Project concepts on April 9, 2019, Town Council requested the renamingof two projects to ensure clarity and transparency in identification of the project for the public. Staff proposes thefollowing:

1. Town Hall Extension renamed to Church Street North Bypass. This project, identified in the CTP Update, wouldprovide additional north-south connectivity in proximity to the Providence Place/Shiloh Grove Townhomes, the futureMason Farms Estates and Church Street Park, connecting those areas to McCrimmon Parkway near Town Hall Drive.

2. Crabtree Crossing Greenway Connector (to Morrisville Parkway) renamed Crabtree Hatcher Creek GreenwaySouth Loop. This project would provide a sidewalk path from Morrisville Parkway to the existing Crabtree HatcherCreek Greenway via a sidewalk or multi-use path on the existing Crabtree Crossing Parkway, which currently stubs atthe Greenway. This project would enhance pedestrian and bicycle access to the greenway network in town.

Neither project is currently part of the FY2020 CIP funding proposal.

Executive Summary and Background Information:Staff will provide an update on several of the major, outstanding capital projects and facilitate discussion of potentialupdates to the Capital Investment Plan (CIP) for Town Council review and consideration. Information for continueddiscussion of a future bond referendum will also be shared with Town Council.

The 5-Year proposed CIP will be presented with the FY2020 proposed operating budget in May.

Potential Options:

None

Staff Recommendation:Receive as Information for Continued Discussion and Inclusion in the FY 2020 Proposed Operating Budget.

Provide Input and Guidance for CIP and Bond Referendum

ATTACHMENTS 2019-66-0 Presentation Project Updates.pdf 2019-66-0 Presentation FY2020 CIP Bond Referendum Work Session 03262019.pdf 2019-66-0 ATTH 01 - Comprehensive CIP Draft Handout.pdf

Project UpdatesTown Council Work Session March 26, 2019

Food Hub Phase 2

•

Food Hub Phase 2

• Food Hub Activities include WWFM, Morrisville Education Garden, Future Town Events

• Phase 2 budget approved FY 2019 ($250,000)

Food Hub Phase 2

Challenges/Issues Strategies/Responses

Town Center Integration

Parking access plan revised to align with town center infrastructure

Town Hall Streetscape Revision

Staff modified the approved site plan to add this scope to the project

WWFM Operational Needs

Staff held office and field meetings with WWFM to evaluate and provide for desired features to optimize design

Food Hub Phase 2 • Plan for alternate

site during construction

• Phasing plan to provide parking for prime market season

• Access for Education Garden maintained during construction

• Site lighting and electric added

Project Milestone Target Completion

Final Design/Site Plan Modification

March 2019

Bid Solicitation April 2019

Market Temporary Relocation

April 6, 2019

Construction May – June 2019

Historic Christian Church

Historic Christian Church Parking

Expansion

• Initial concept developed in 2013/14

• Original design assumption left out required landscape and stormwater controls

• $455,000 budget approved in FY 17

• Design initiated September 2017

• Site Plan and Construction Plan approved summer 2018

• Three bid solicitations fall 2018

• Plan revised early 2019• Available Funds ($395,000)

Historic Christian Church Parking

Expansion

Challenges/Issues Strategies/Responses

Lack of contractor interest/high bids

Staff directly solicited bids and negotiated with low bidder

Resolve adjacent property impacts

Multiple meetings and design iterations to accommodate

Wake Historic Preservation Approval

Multiple design iterations and a board meeting to approve

Affordability Currently developing phased plan

Historic Christian Church Parking

Expansion

• Phased Approach for budget management

• Meet Current Need with 25 – 30 spaces

• Plan for future expansion

• Other Options• Additional Funds

• Defer for more favorable bid environment

• Discontinue Project

Project Milestones

Target Completion

Site Phasing Plan March 2019

Bid Solicitation April 2019

Construction (Phase 1)

May – August 2019

Public Works Facility

Public Works Master Plan• Probable loss of admin

building• Safer intersection

design• Aviation Parkway

Widening• Anticipated storage and

parking needs• Collaboration efforts

with Wake County

Public Works Master

Plan

Challenges/Issues Strategies/Responses

NCDOT Aviation Widening Project

Advisory appraisals and early right of way acquisitions

Site Development Costs

Multiple site design scenarios created with probable cost estimates

Jurisdictional & regulatory reviews

Environmental and land development review strategy

Public Works Master Plan• Aviation Parkway

Schedule

• Design strategies to keep convenience center in plan

• Value Engineering/Meeting budget challenges

Project Milestone Target Completion

Early Acquisition Appraisals

Summer 2019

Finalize Project Scope

Winter 2019/20

Design (12-15 mo.) Spring/Summer 2021

NCDOT Right of Way Acquisition

2021

Construction PW 2021-2022

Construction DOT 2023 - 2024

Questions/Discussion

FY2020 CIP Update & Bond Referendum Discussion (continued)

Town Council Work Session

March 26, 2019

Work Session Topics

CIP Updates

– Project Updates

– Adjustments to CIP

• New/Removed Projects

• Other Changes

– Draft CIP

– Debt Obligation

– Future Projects

Bond Referendum Discussion (continued)

– Process/Sample Timeline

– Bond Project Options

– Financial Capacity

– Looking Ahead

Work Session Goals/Outcomes

• Provide requested project updates

• Review snapshot of Draft CIP adjustments and potential FY20 Capital Budget

• Discuss timing for future Bond Referendum

• Identify other information needs

Project UpdatesKent Jackson, Town Engineer

Capital Investment Plan (CIP) Updates

Capital Investment Program

• Long-term Strategy– Strategically Plan for Multiple Projects

– Design and Engineer Projects for Activation

• Five-Year PlanFY2020 Funding Recommendation

FY 2021 – 2024 Forecasting Window

• Potential Funding Sources Identified

• Flexible & Responsive to Opportunities & Urgencies

• Future Bond Referendum Planning Tool

Adjustments to CIP

Park West Fire Station

Cedar Fork General Improvements

Airport Boulevard Extension

Town Hall Drive Extension (Harris Mill to Mason Farm)

Police & Fire Local Training Facility

Safety House

Morrisville East Connector

Odyssey Drive Extension

Town Hall Drive Medians – Bike Lanes

International Drive Extension

New Remove

Notes: Refer to FY19 Budget Report, page 79 for the CIP Funding Plan for comparison. Project Profile Summaries located on page 118 – 142.

Other Adjustments to FY2019 CIP• Updated projects:

– All estimates & timelines– Built in contingency modifier to mitigate rising development cost

• Assessed priorities:– Accounted for adopted plan priorities, study influences and changing needs– Public Works construction shifted out 2 years

• continued evaluation Wake County shared use site

– Northwest Fire Station moved up in priority due to study findings• added cost to evaluate viability of Cisco land

– Town Center Parking Lot shifted out to future funding• driven by pending Town Center discussions

• Phased Cedar Fork District Park Improvements (appears as two projects)

• Relabeled projects:– Civil War Battleground Park shown as Future Town Parks/Open Space– Rural Heritage Park shown as Page Historic Homesite

Note: Refer to FY19 Budget Report, page 79 for the CIP Funding Plan for comparison. Project Profile Summaries located on page 118 – 142.

FY2019 vs FY2020 CIP SnapshotCurrent CIP Priorities FY

19FY20

FY21

FY22

FY23 Fu

ture

Crabtree Crossing Connector X

Town Hall Terraces Connector X

Green/Fairview Stormwater X

Cedar Fork Elementary Field X

Cedar Fork District Park X X

Crabtree Creek Nature Park X X

Dog Park X X

Morrisville Community Park PH 3 X X

Healthy Food Hub PH 2 X

Public Works Facility Design X

Town Center Parking Lot X

Proposed CIP Priorities FY20

FY21

FY22

FY23

FY24 Fu

ture

Crabtree Crossing Connector X

Town Hall Terraces Connector X

Cedar Fork Elementary Field X

Cedar Fork District Park PH 1 & 2 X X X X

Crabtree Creek Nature Park X X

Dog Park X X

Morrisville Community Park PH 3 X X

Public Works Facility Construction X

Northwest Fire Station X X X

Park West Fire Station X X

Note: Comparative matrix illustrating how 5-year planning window shifts forward allowing for new priorities to roll in. Items in REDindicates a planning year change

Draft Capital Investment Program

Draft above is a consolidated view of 5-Year priorities, refer to Comprehensive Handout for details for all project concepts.

Update

StatusProject Title Rank

Bond

CandidateFY 2020 FY2021 FY 2022 FY 2023 FY 2024 Future TOTAL

Bicycle & Pedestrain

Updated Crabtree Crossing Greenway Connector L 660,000 660,000$

Updated Town Hall Terraces to Indian Creek H 275,000 275,000$

Updated Future Projects 7,100,000 7,100,000$

Parks & Recreation

Updated Cedar Fork Elementary Field M Yes 739,000 - 739,000$

Updated Cedar Fork District Park Field Improve H Yes 900,000 1,350,000 1,350,000 3,600,000$

New Phase Cedar Fork District Park General Improvements H Yes 537,500 1,612,500 2,150,000$

Updated Crabtree Creek Nature Park H Yes 1,225,000 3,685,000 4,910,000$

Updated Dog Park M Yes 266,000 796,500 1,062,500$

Updated Morr Comm Park Phase 3 H Yes 700,000 2,100,000 2,800,000$

Updated Future Projects 27,374,250 27,374,250$

Public Facility

Shifted Public Works Facility H 8,000,000 8,000,000$

Moved Up Northwest Fire Station H Yes 300,000 1,625,000 3,825,000 5,750,000$

New Park West Fire Station H Yes 2,500,000 2,400,000 4,900,000$

Updated Future Projects 1,027,000 1,027,000$

Transportation

Updated Future Projects 18,262,500 18,262,500$

Total 5,000,000$ 10,710,000$ 14,180,000$ 2,684,000$ 2,272,500$ 53,763,750$ 88,610,250$

FUNDING PLAN

Cash Outlay (Operations/FB) 275,000 660,000 935,000$

PPIL 1,005,000 1,334,000 1,612,500 3,951,500$

CIP Reserve 2,800,000 1,625,000 4,425,000$

PPIL (Bond Projects) 1,925,000 900,000 2,825,000$

Bond Referendum (Proposed) 8,185,000 5,175,000 1,350,000 14,710,000$ LAPP 3,375,000$ Debt Service 8,000,000 8,000,000$

Not Funded 53,763,750 53,763,750$

Total 5,000,000$ 10,710,000$ 14,180,000$ 2,684,000$ 2,272,500$ 53,763,750$ 88,610,250$

Debt Obligation

DEBT OBLIGATION as Annual Debt Service FY2020 FY2021 FY2022 FY2023 FY2024Current Annual Debt Service $ 3,492,100 $ 3,144,228 $ 2,791,037 $ 2,639,646 $ 2,600,000

New Projected Annual Debt Service $ - $ 818,500 $ 1,835,000 $ 1,970,000 $ 1,970,000

Total Debt $ 3,492,100 $ 3,962,728 $ 4,626,037 $ 4,609,646 $ 4,570,000

Note: Table illustrates that a $0.04 tax increment may be necessary to support illustrated proposed new debt service annually, accounting for retirement of existing debt service. Estimates based on 5% interest and 20 year terms.

Tax Increment New Projected Debt = $0.04

Future Projects • Town Center Projects

– Pending discussions will provide clarity

• Fire Station 2– Roadway impacts pending evaluation and planning

• Town Hall– Assessment of current & future space needs

• Church Street Park Improvements– Land acquisition creates opportunities that need to be evaluated

• Land Acquisitions Pending Further Evaluation– Town Center Site Control– TOD Projects or Land Acquisition– Parks & Open Space – Master Plan

Bond Referendum ContinuedVoters Authorize the Use of GO Bonds as a Financing Tool

Basic Process

Preliminary Phase

• Bond Package Identification

• Communication & Outreach Engagement

• Financial Analysis

• Cost Estimates

Formal Phase

• Requires LGC Approval

• Bond Counsel Opinion

• Requires Public Hearing

• Voter Approval

• Competitive Public Sale

Estimated 9 -12 Month Process Overall

Potential Referendum Dates

Note: G.S. 163-287 – 2014 Amended

General Elections

Even-Years

11/3/2020

Municipal Elections

Odd-Years

11/2/2021

Bond Referendum Sample Timeline

July 2020

Nov. 2020

Preliminary Phase

Formal Phase

Aug. 2020

Sept. 2019 – June 2020July 2019 – August 2019

Bond Project Options by Category

BOND CATEGORY

PRIORITY PROJECT TITLEPROJECT

COST ESTIMATE

FY 2020 CAPITAL BUDGET

FUNDING SOURCE

PU

BLI

C

SAFE

TY 1 Park West Fire Station $ 4,900,000 2,500,000 CIP Reserve

2 Northwest Park Fire Station 5,750,000 300,000 CIP Reserve

$ 10,650,000

RO

AD

IM

PR

OV

EMEN

TS

TBD Airport Blvd Extension $ 6,900,000

TBD Town Hall Drive Connection 11,362,500

TBD Road Betterments TBD

TBD NC54 Contributions? TBD

TBD Intersection Improvement Projects TBD

$ 18,262,500

Bond Project Options by Category

BOND CATEGORY

PRIORITY PROJECT TITLEPROJECT

COST ESTIMATE

FY 2020 CAPITAL BUDGET

FUNDING SOURCE

SID

EWA

LK/

PED

ESTR

IAN TBD Crabtree Crossing Greenway Connector $ 660,000

TBD Sawmill Creek Greenway/Stream Restoration 7,100,000

TBD Sidewalk Allocation

TBD Pedestrian Amenities Allocation

$ 7,760,000

PAR

KS

AN

D R

ECR

EATI

ON

IM

PR

OV

EMEN

TS

1 Morrisville Community Park Phase 3 $ 2,800,000 700,000 PPIL

2 Crabtree Creek Nature Park 4,910,000 1,225,000 PPIL

3 Cedar Fork District Park Field Improvements 3,600,000

TBD Dog Park 1,062,500

TBD Cedar Fork Elementary Field 739,000

TBD Page Historic Homesite 858,000

TBD Open Space/Future Park Land 7,250,000

TBD Senior Activity Center 4,200,000

TBDCedar Fork District Park General Improvements

2,150,000

$ 27,569,500

Financial Capacity at a Glance

On Tax Rate = $490,000Property Revaluation 2021

Retiring Debt Service = 2021/2022

Debt Service Ratio = Estimated Below 12% of Expenditures 2021/2022 (previously estimated 8.1%)

Debt to Assessed Value = Well Below 2% of Assessed Value

Looking Ahead

• Establish a Referendum Timeline

• Identify Potential Bond Packages – CIP Projects

• Determine Level of Public Engagement

• Financial Analysis & Preliminary Cost Estimates

• Determine Preliminary Referendum Date & LGC Notice of Application

Next Steps & Information NeedsCouncil Discussion

Other Information Needs to Make Decisions

Other Strategic Priorities of Interest

Budget Calendar

Presentation

Work Sessions Discussions

Public Hearing

Adoption

May 7 Budget Presentation & Work Session

May 7 Budget Portal Opens

May 13 Budget/CIP Discussion

May 28 Public Hearing & Budget Portal Closes

May 30 Budget/CIP Work Session & Final Budget Reconciliation

June 11 Budget Adoption

Draft Comprehensive Capital Investment Plan - FY2020 Captial Budget

Update

Status Project TitlePreliminary

Cost Estimate

CIP

Team

Bond

CandidateFY 2020 FY 2021 FY 2022 FY 2023 FY 2024 Future TOTAL

Bicycle & Pedestrain

Updated Crabtree Crossing Greenway Connector 660,000$ L 660,000 - 660,000$

Updated Sawmill Creek Greenway & Stream Restoration 7,100,000$ M Yes 7,100,000 7,100,000$

Updated Town Hall Terraces to Indian Creek 275,000$ H 275,000 275,000$

Parks & Recreation

Updated Cedar Fork Elementary Field 739,000$ M Yes 739,000 739,000$

Updated Cedar Fork District Park Field Improve 3,600,000$ H Yes 900,000 1,350,000 1,350,000 3,600,000$

New Phase Cedar Fork District Park General Improvements 2,150,000$ H Yes 537,500 1,612,500 2,150,000$

Updated Future Town Park Sites (formerly Civil War Battelground Park) 7,250,000$ L 7,250,000 7,250,000$

Updated Crabtree Creek Nature Park 4,910,000$ H Yes 1,225,000 3,685,000 4,910,000$

Updated Dog Park 1,062,500$ M Yes - - 266,000 796,500 1,062,500$

Updated Morr Comm Park Phase 3 2,800,000$ H Yes 700,000 2,100,000 2,800,000$

Updated Recreation Center in Town Center 13,766,250$ L Yes 13,766,250 13,766,250$

Modified Page Historic Homesite (formerly Rural Heritage Park) 858,000$ L Yes 858,000 858,000$

Updated Senior Activity Center 4,200,000$ M Yes 4,200,000 4,200,000$

Updated Town Green 1,300,000$ L 1,300,000 1,300,000$

Public Facility

Shifted Public Works Facility 8,000,000$ H 8,000,000 8,000,000$

Shifted Town Center Parking Lot 425,000$ H 425,000 425,000$

Updated Train Depot 602,000$ L 602,000 602,000$

Moved Up Northwest Fire Station 5,750,000$ H Yes 300,000 1,625,000 3,825,000 5,750,000$

New Park West Fire Station 4,900,000$ H Yes 2,500,000 2,400,000 4,900,000$

Remove Police and Fire Local Training Facility (4,500,000)$ L -$

Remove Safety House (325,000)$ L -$

Transportation

New Airport Boulevard Extension 6,900,000$ M Yes 6,900,000 6,900,000$

New Town Hall Drive Extension 11,362,500$ L Yes 11,362,500 11,362,500$

Remove International Drive Extension (3,140,000)$ L -$

Remove Morrisville East Connector (6,300,000)$ M -$

Remove Oddysey Drive Extension (1,350,000)$ L -$

Remove Town Hall Drive Medians - Bike Lanes (900,000)$ L -$

Total 5,000,000$ 10,710,000$ 14,180,000$ 2,684,000$ 2,272,500$ 53,763,750$ 88,610,250$

FUNDING PLAN FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 Future TOTAL

Cash Outlay (Operations/FB) 275,000 - 660,000 935,000$

PPIL - - 1,005,000 1,334,000 1,612,500 3,951,500$

CIP Reserve (To Be Reimbursed) 2,800,000 1,625,000 4,425,000$

PPIL (To Be Reimbursed) 1,925,000 900,000 2,825,000$

Bond Referendum (Proposed) 8,185,000 5,175,000 1,350,000 - 14,710,000$ Stormwater FB -$ LAPP 3,375,000$

Debt Obligation 8,000,000 8,000,000$

Not Funded 53,763,750 53,763,750$

Total 5,000,000$ 10,710,000$ 14,180,000$ 2,684,000$ 2,272,500$ 53,763,750$ 88,610,250$

DEBT OBLIGATION as Annual Debt Service

Current Annual Debt Service 3,492,100$ 3,144,228$ 2,791,037$ 2,639,646$ 2,600,000$

New Projected Annual Debt Service 818,500$ 1,835,000$ 1,970,000$ 1,970,000$

Total Debt 3,492,100$ 3,962,728$ 4,626,037$ 4,609,646$ 4,570,000$

Tax Increment to Support New Debt Service = $0.04

Footnotes:

1. Project cost estimates updated and contingency modifier applied to mitigate rising development cost.

Future Planning Years

Rank Key: H=High, M=Medium, L=Low

Town Council Agenda Item Report

Agenda Item No. 2019-97-0Submitted by: Erin HudsonSubmitting Department Administration Meeting Date: April 22, 2019

SUBJECTTown Council Roundtable

Recommendation:

Updates/History of Briefing:

Executive Summary and Background Information:

Potential Options:

Staff Recommendation:

ATTACHMENTS