Title
Conduct a Public Hearing and Consider/Discuss/Act on an Amendment to Amended Project #14-09, to Reallocate $150,000 of $200,000 in Approved Fiscal Year 2016 Funding for Parks Aquatic Center Operations (Line Item 060-999-453-8823) to Amended Project #14-09 for Tools, Equipment and Supplies for the Aquatic and Fitness Center
Summary
COUNCIL GOAL: Enhance the Quality of Life in McKinney
MEETING DATE: July 28, 2016
DEPARTMENT: McKinney Community Development Corporation
CONTACT: Cindy Schneible, President
RECOMMENDED CITY COUNCIL ACTION:
• Approve reallocation of funds as presented.
ITEM SUMMARY:
• In August 2015, the MCDC Board approved the MCDC FY16 budget that included $200,000 for Parks Aquatic Center Operations in anticipation of expenses required for opening of the new aquatic and fitness center in Gabe Nesbitt Park.
• Staff would like to utilize the $150,000 of the $200,000 approved in the FY16 budget for Parks Aquatic Center Operations, for tools, equipment and supplies for the new facility.
• Reallocation of the funds would provide funding for:
o IT and computer software and training costs
o Phone service
o Various programming supplies and equipment
o Radios and chargers
BACKGROUND INFORMATION:
• In January 2015, the MCDC Board conducted a public hearing and approved funding for design, construction, and equipment for a community aquatic and fitness center in an amount of $34,500,000 (PK7102/4B14-09).
• In December 2015, the MCDC Board conducted a public hearing and approved amending the aquatic and fitness center project (PK7102/4B14-09) to include construction of a park road; expanded facility parking; construction of a monument sign at Eldorado and Alma; design and construction of up to three additional water slides at a cost of $1,500,000. Total project cost with the addition of these three components is $36,000,000.
• The MCDC Board approved inclusion of $200,000 for costs related to completing and opening the Aquatic and Fitness Center, Project #14-09/PK7102, in the MCDC FY16 annual budget.
FINANCIAL SUMMARY:
• The Aquatic and Fitness Center Project (PK7102/4B14-09) is a Capital Improvements Project funded by sales tax revenue bonds issued by MCDC in an amount of $24,000,000; MCDC sales tax revenue in an amount of $10,504,850; and Parkland Dedication funds in an amount of $1,495,150. Total project cost is $36,000,000.
• With reallocation of $150,000 in Approved Funding for Parks Aquatic Center Operations (Line Item 060-9999-453-8823) to Amended Project #14-09/PK7102, project cost will total $36,150,000. Funds for the amended project are available.