GOVERNMENT SERVICE FUNDS REVIEW (11:00 am-12:30 pm)

Transcription

1 Town Council Special Meeting Tuesday, October 9, 2018, 10:00 AM Council Chambers 150 Ski Hill Road Breckenridge, Colorado PROPOSED 2019 TOWN OF BRECKENRIDGE BUDGET Link to the 2019 Budget: I. INTRODUCTION/ OVERVIEW (10:00-10:15 am) Full Budget Retreat Presentation II. RESERVED FUNDS REVIEW (10:15-11:00 am) Water Housing Open Space Golf Internal Service Other Funds III. GOVERNMENT SERVICE FUNDS REVIEW (11:00 am-12:30 pm) Excise General Marketing Child Care Special Projects Parking/ Transportation IV. LUNCH (12:30-1:00 pm) V. FIBER INFRASTRUCTURE (1:00-2:00 pm) Fiber Infrastructure Presentation VI. PARKING DISCUSSION & BREAK (2:00-4:00 pm) Parking Information VII. FUND BALANCES/ RESERVES (4:00-4:30 pm) Fund Balance Presentation 1 VIII. CAPITAL DECISIONS (4:30-5:30 pm)

2 Capital Decisions Presentation IX. FUNDING DECISIONS (5:30-5:45 pm) Breckenridge Tourism Office Breckenridge Creative Arts Breckenridge Heritage Alliance X. EXECUTIVE SESSION (5:45-7:00 pm) 2

3 3

4 2019 BUDGET RETREAT Economic Trending 4

5 5

6 6

7 7

8 8

9 9

10 10

11 11

12 12

13 2019 BUDGET RETREAT Funds Review 13

14 Fund Categories Reserved Funds: Water (Utility) Golf, Housing, Open Space Internal Service : IT, Garage, Facilities, Health Benefits Other Funds : Marijuana, Cemetery, Con. Trust Government Services & Programs Funds: General Fund Excise Capital Marketing Special Projects Child Care Parking & Transportation 14

15 15

16 Reserved Funds Water (Utility) Golf Housing Open Space 16

17 Fund Balance decrease due to $3.2M debt service for new plant Rate increases make up deficit over time Future Tarn Dam repairs are in the CIP and Pro Forma 17

18 18

19 2018 Includes $5.5M transfer to General Fund 2019 Budget includes $25M COP borrow for Breck 365 (Block 11) 2018 Projected Revenue includes unit sales (Blue 52) 19

20 20

21 Fund includes reserves for the Hoosier Bike Path and Wellington Oro Plant Capital Debt payments back to General Fund Expire in

22 22

23 2017 Revenues were up due to favorable weather 2018 Includes capital expenses for the Clubhouse remodel Pro Forma shows fund balance growing for next 6 years (no major capital) 23

24 2018 has $1.1M in capital 24

25 25

26 Other Funds Marijuana Cemetery Conservation Trust 26

27 MJ revenue has been lower than expected Transfer to Child Care has been adjusted to $320K per year 27

28 This fund receives revenue from plot and burial fees. The charges for services are allocated to public works for work performed. 28

29 The Conservation Trust Fund receives and distributes the Great Outdoors Colorado (GOCO) funds allocated to the Town. The funds are used to construct outdoor Recreation facilities. 29

30 30

31 Government Services & Programs Funds: Excise General Fund Marketing Child Care Special Projects Parking & Transit Capital 31

32 32

33 33

34 Preliminary Property Tax Assessment is up 8%, or $216K to General Fund 2018 revenue accounts for $5.5M transfer/payback with the Affordable Housing Fund. 34

35 Wage increases average between 4-4.5%, with a maximum of 5.5% Contingencies included $600K transfer to Health Benefits Fund in

36 36

37 2018 Fund Balance Increase due to increased revenues 2019 reflects full BTO ask of $4.77M 37

38 Current pro forma shows the fund is sustainable until 2021 MJ transfer lowered due to revenue 38

39 39

40 Reflects full BCA funding amount lower due to IT allocation decrease Last year of BCA funding plan Reusable Bag Program reserve line 40

41 Third full year for the Fund Revenues reflect full year of parking management revenue 41

42 2019 Transit revenue reflects $2M Excise funding level for Transit $1,017,500 transfer for capital 42

43 43

44 44

45 45

46 - Water Pro Forma NOTES Rent Inc Comm. 5% 5% 5% 5% 5% 5% 5% 5% 5% 5% 5% 5% 5% 5% 5% 5% 5% 5% 5% 5% Rent Inc Residential 5% 5% 5% 5% 5% 5% 5% 5% 5% 5% 5% 5% 5% 5% 5% 5% 5% 5% 5% 5% Rent Comm. 573, , , , , , , , , , , ,231 1,029,243 1,080,705 1,134,740 1,191,477 1,251,051 1,313,604 1,379,284 1,448,248 Rent Residential 2,713,379 2,849,048 2,991,500 3,141,075 3,298,129 3,463,036 3,636,187 3,817,997 4,008,897 4,209,341 4,419,809 4,640,799 4,872,839 5,116,481 5,372,305 5,640,920 5,922,966 6,219,114 6,530,070 6,856,574 Water Rents $ 3,286,500 $ 3,450,825 $ 3,623,366 $ 3,804,535 $ 3,994,761 $ 4,194,499 $ 4,404,224 $ 4,624,436 $ 4,855,657 $ 5,098,440 $ 5,353,362 $ 5,621,030 $ 5,902,082 $ 6,197,186 $ 6,507,045 $ 6,832,397 $ 7,174,017 $ 7,532,718 $ 7,909,354 $ 8,304,822 PIF Increase 20% 10% 10% 10% 10% 10% 10% 10% 10% 10% 10% 10% 10% 10% 10% 10% 10% 10% 10% 10% PIF rate - In Town $ 9,244 $ 10,168 $ 11,185 $ 12,304 $ 13,534 $ 14,887 $ 16,376 $ 18,014 $ 19,815 $ 21,797 $ 23,977 $ 26,375 $ 29,013 $ 31,914 $ 35,105 $ 38,616 $ 42,478 $ 46,726 $ 51,399 $ 56,539 PIFs 1,375,045 1,462,260 1,555,361 1,654,716 1,760,612 1,873,636 1,994,386 2,123,341 2,260,993 2,408,168 2,565,438 2,733,570 2,913,385 3,105,654 3,311,378 3,531,660 3,767,503 4,545,748 4,868,943 5,329,857 10/2/2018 9:41 20% then 10% ann. Rate Incr.after 2017, combined with new users. Out of Town rate 125% of In Town W.S.M.F. % Inc 50% 33% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% Doubles to $8/cycle by 2018 then no inc. W.S.M.F. / cycle $ 6 $ 8 $ 8 $ 8 $ 8 $ 8 $ 8 $ 8 $ 8 $ 8 $ 8 $ 8 $ 8 $ 8 $ 8 $ 8 $ 8 $ 8 $ 8 $ 8 W.S.M.F. 409, , , , , , , , , , , , , , , , , , ,754 1,678,727 PIFs + W.S.M.F. 1,784,185 2,007,780 2,109,927 2,219,137 2,335,704 2,460,226 2,593,305 2,735,431 2,887,104 3,049,206 3,222,368 3,407,411 3,605,216 3,816,613 4,042,661 4,284,524 4,543,265 5,345,787 5,694,698 7,008,584 Other 1,340, , , , , , , , , , , , , , , , , , , ,430 Transfers, Investment Income Loan Proceeds ,000, year term, 2.0% rate Total Revenues $ 6,411,186 $ 5,864,222 $ 6,143,043 $ 24,437,604 $ 6,748,631 $ 7,077,175 $ 7,424,317 $ 7,791,045 $ 8,126,342 $ 8,535,466 $ 8,967,843 $ 9,424,903 $ 9,908,165 $ 10,419,128 $ 10,959,556 $ 11,531,351 $ 12,136,353 $ 13,304,919 $ 14,044,184 $ 15,768,836 General Services 1,962,696 2,098,726 2,761,688 2,844,539 2,929,875 3,017,771 3,108,304 3,201,554 3,297,600 3,396,528 3,498,424 3,603,377 3,711,478 3,822,822 3,937,507 4,055,632 4,177,301 4,302,620 4,431,699 4,564,650 3% annual, 2018 incr. for new plant ops Gen Fund X-fer 98,179 99, , , , , , , , , , , , , , , , , , ,611 Other 122, , , , , , , , , , , , , , , , , , , ,757 Transfers, water rights/legal 2,183,694 2,302,887 2,969,991 3,057,088 3,146,777 3,239,137 3,334,247 3,432,190 3,533,051 3,636,916 3,743,876 3,854,023 3,967,453 4,084,264 4,204,558 4,328,437 4,456,011 4,587,389 4,722,686 4,862,018 Capital 1,770,000 1,645,000 1,236,250 9,770,000 9,570, ,000 2,294,000 8,761,000 2,443, , , , , , , , , , , , plant expenditure Debt Service Plant 3,022,418 3,231,302 3,230,203 3,230,208 3,231,698 3,226,666 3,227,181 3,228,408 3,230,539 3,228,715 3,230,002 3,230,516 3,230,106 3,229,776 3,227,846 3,233,999 3,227,973 3,231,568 3,228,872 3,228, year term, 2.0% rate Debt Service Dam - 914, , , , , , , , , , , , , , , , year term, 3% rate Debt Issuance Exp Total Expenses $ 6,976,112 $ 7,179,189 $ 7,436,444 $ 16,057,296 $ 16,862,638 $ 7,704,966 $ 9,769,591 $ 16,335,761 $ 10,120,753 $ 8,769,794 $ 8,878,041 $ 8,988,702 $ 9,101,722 $ 9,218,203 $ 9,336,567 $ 9,466,599 $ 9,588,147 $ 9,723,120 $ 9,855,722 $ 9,995,033 Change $ (564,927) $ (1,314,967) $ (1,293,401) $ 8,380,308 $ (10,114,007) $ (627,791) $ (2,345,275) $ (8,544,717) $ (1,994,411) $ (234,328) $ 89,802 $ 436,200 $ 806,443 $ 1,200,925 $ 1,622,990 $ 2,064,752 $ 2,548,206 $ 3,581,799 $ 4,188,462 $ 5,773,803 Fund Balance $ 10,376,173 $ 9,061,205 $ 7,767,804 $ 16,148,112 $ 6,034,106 $ 5,406,315 $ 3,061,040 $ (5,483,677) $ (7,478,088) $ (7,712,417) $ (7,622,615) $ (7,186,415) $ (6,379,972) $ (5,179,048) $ (3,556,058) $ (1,491,306) $ 1,056,900 $ 4,638,699 $ 8,827,162 $ 14,600,964 Reserve 545, , , , , , , , , , , , ,863 1,021,066 1,051,139 1,082,109 1,114,003 1,146,847 1,180,671 1,215,505 $ 9,830,249 $ 8,485,483 $ 7,025,306 $ 15,383,840 $ 5,247,411 $ 4,596,530 $ 2,227,478 $ (6,341,724) $ (8,361,351) $ (8,621,646) $ (8,558,584) $ (8,149,921) $ (7,371,835) $ (6,200,114) $ (4,607,197) $ (2,573,415) $ (57,103) $ 3,491,852 $ 7,646,490 $ 13,385,460 30,000,000 25,000,000 20,000,000 15,000,000 10,000,000 5,000, ,000,000-10,000,000 FUND BALANCE OVERVIEW Total Revenues Total Expenses Fund Balance 46

47 Housing Fund Pro Forma Beg Fund Bal $ 1,036,781 $ 4,339,705 $ 19,440,674 $ 3,375,848 $ 7,654,411 $ 10,046,446 Revenue Sales Tax 581, , , , , ,235 Impact Fee 500, , , , , ,040 Excise Transfer-2017/New County Tax 2,792,200 2,820,100 2,848,044 2,876,502 2,905,005 2,934,032 Corum Pmts 69,000 69,433 69,000 69,000 69,000 69,000 Pinewood Land Lease - 30,000 30,000 30,000 30,000 30,000 Buy Downs 627, PW2-tax credit rebates, dev fee, rent 243, , , , , ,000 Huron Landing 341, , , , , ,000 PW Bond Loan Interest B52 TH/apt sale/rental proceeds 15,466, , ,000 75,000 75,000 75,000 Denison Commons 5,700, Block 11 Apt-COP/Rental/Sale Revenue - 25,000,000 1,000,000 15,000,000 1,000,000 1,000,000 Programs 107,000 77,000 52,000 52,000 52,000 52,000 Other 15,000 15,150 15,000 15,000 15,000 15,000 Total Revenue 26,442,882 30,460,183 6,478,578 19,828,356 5,873,422 5,919,307 Available 27,479,663 34,799,888 25,919,252 23,204,204 13,527,832 15,965,754 Expenses Buy-downs / Acquisitions/ Projects 1,647, ,400,000 Pinewood items Block 11 Infra/Breck 365/B11 Buildout 6,000,000 14,325,000 21,575,000 14,575,000 2,500,000 1,500,000 Huron Landing 630, , , , , ,700 B52 TH/Apt (50 TH/16 Rental) 8,698, Denison Commons Other-SCHA, DPA, Staff-2018 transfer-$5.5m 6,045, , , , , ,697 Town programs - Transition Units 117, , , , , ,794 Total Expenses 23,139,958 15,359,214 22,543,404 15,549,793 3,481,386 5,891,191 Transfer to Child Care/C.C. exp Total Exp 23,139,958 15,359,214 22,543,404 15,549,793 3,481,386 5,891,191 Inc./(Dec) 3,302,924 15,100,969 (16,064,826) 4,278,563 2,392,036 28,117 Fund Balance 4,339,705 19,440,674 3,375,848 7,654,411 10,046,446 10,074,563 NOTES: Between 2015 and 2023 development of PW2, Huron Landing, Denison Commons, Blue 52, Breck 365, and buildout of Block 11 tracts Other expenses vary annually due to anticipated employee loans and down payment assistance Other revenue varies annually due to anticipated employee loan repayments Assumes COP financing for Breck 365 Fund Balance Analysis 35,000,000 30,000,000 25,000,000 20,000,000 15,000,000 10,000,000 5,000, Total Revenue Total Exp 47

48 Beginnng Fund Balance $ 2,498,233 $ 2,856,438 $ 3,926,889 $ 4,001,083 $ 5,414,151 $ 6,776,565 $ 8,129,531 $ 9,381,914 $ 10,569,426 Revenue Sales Tax 3,046,100 3,076,561 3,107,327 3,138,400 3,169,784 3,201,482 3,233,497 3,265,831 3,298,490 TDR Sales 200, , , , , , , , ,853 Wellington Oro Plant 116, , , , , , , , ,017 Grants 370, , , Other Income 198,717 55,922 63,327 69,639 79,631 93, , , ,464 Total Revenue $ 3,931,667 $ 3,599,117 $ 3,994,309 $ 3,688,857 $ 3,737,540 $ 3,833,354 $ 3,844,339 $ 3,897,752 $ 3,950,824 Available $ 6,429,900 $ 6,455,555 $ 7,921,199 $ 7,689,939 $ 9,151,691 $ 10,609,919 $ 11,973,870 $ 13,279,666 $ 14,520,250 Expenses Land Acquisitions 1,514,255 1,065,591 1,564, , , , , ,244 1,014,621 Habitat & River Restoration 863, , , , , , , , ,000 Administration 392, , , , , , , , ,798 Trails Const & Maintenance 283, , , , , , , , ,615 Prof & Contracted Services 433, , , , , , , , ,645 Historic Structures Stabilization 87, Total Expenses 3,573,462 2,528,666 3,525,750 2,275,788 2,375,126 2,480,387 2,591,956 2,710,240 2,835,679 Total Exp $ 3,573,462 $ 2,528,666 $ 3,525,750 $ 2,275,788 $ 2,375,126 $ 2,480,387 $ 2,591,956 $ 2,710,240 $ 2,835,679 Inc./(Dec) 358,205 1,070, ,559 1,413,069 1,362,414 1,352,966 1,252,383 1,187,511 1,115,145 Fund Balance 2,856,438 3,926,889 4,001,083 5,414,151 6,776,565 8,129,531 9,381,914 10,569,426 11,684,570 Wellington Oro Reserve 48,617 59,617 70,617 81,617 92, , , , ,617 Hoosier Pass Recpath Fund 400, , , , , ,000 1,000,000 1,100,000 1,200,000 Net Fund Balance $ 2,407,821 $ 3,367,273 $ 3,330,466 $ 4,632,535 $ 5,883,949 $ 7,125,915 $ 10,496,531 $ 11,795,042 $ 13,021,187 NOTES: 2018 includes projected budget numbers Open Space Fund Pro Forma $14,000,000 Open Space Fund Balance Analysis $12,000,000 $10,000,000 $8,000,000 $6,000,000 $4,000,000 $2,000,000 Revenue Expenses Net Fund Balance $

49 Golf Fund Beg Fund Bal $ 1,274,244 $ 456,301 $ 681,228 $ 854,187 $ 1,088,727 $ 1,265,702 $ 1,342,917 Revenue gf/res/carts/range/gift cert 2,234,550 2,203,100 2,253,331 2,320,931 2,320,931 2,320,931 2,320,931 services, sales, lessons 405, , , , , , ,073 int/rental/ 12,000 12,000 15,500 15,500 15,500 15,000 15,500 Excise Trans. Nordic Reimbursement 34,800 37,300 32,300 32,300 32,300 32,300 32,300 renewable energy credit 4,482 4,482 2,706 2,706 2,706 2,706 2,706 sale of assets - 2,690,832 2,652,882 2,711,717 2,791,553 2,804,157 2,816,638 2,830,510 Available 3,965,076 3,109,183 3,392,945 3,645,740 3,892,884 4,082,341 4,173,427 Expenses Ops 930, , , ,271 1,022,040 1,052,701 1,084,282 admin 191, , , , , , ,028 equip maint 137, , , , , , ,557 maint. program 787, , , , , , ,736 2,047,297 2,100,110 2,163,113 2,228,007 2,294,847 2,363,692 2,434,603 Capital Projects 25,500 10,000 10,000 10,000 10,000 10,000 10,000 landscape equip. 140, , , , , , ,653 Cart Reserve and Acquisition 103, , , , , , ,347 irrigation consultants irrigation /bunker construction 331,600 8,400 clubhouse renovations 814,933 53, GPS units lease 46,195 46,195 46,195 46, ,461, , , , , , ,195 Total Exp 3,508,775 2,427,955 2,538,758 2,557,013 2,627,182 2,739,423 2,813,798 Net (817,943) 224, , , ,975 77,215 16,712 Fund Balance 456, , ,187 1,088,727 1,265,702 1,342,917 1,359,629 Cart Reserve 103, , , , , , , and 2021 Cart Purchase - (413,000) Gross Fund Balance $ 559,551 $ 887,728 $ 1,163,937 $ 1,504,824 $ 1,375,146 $ 1,558,708 $ 1,681,767 49

50 Childcare Fund Pro Forma Projected Beg Fund Bal $ 3,092,057 $ 2,699,014 $ 1,968,027 $ 1,152,377 $ 312,727 $ (566,792) Revenue Fund Balance Transfer 577, , , , ,000 - Corum Pmts Grants/Rental Income 30,000 30,000 30,000 10, Other 46,325 46, Misc Total Revenue 654, , , , ,000 - Available $ 3,746,367 $ 3,095,802 $ 2,318,027 $ 1,482,377 $ 632,727 $ (566,792) Expenses Tuition Assistance 750, , , , , ,682 Operations-staff &cmte 86,944 92, , , , ,602 New Facility/Manager Other/Projects 210, , , , , ,000 Fund Bal. Transfer Total Expenses 1,047,353 1,127,775 1,165,650 1,169,650 1,199,519 1,230,285 Total Exp $ 1,047,353 $ 1,127,775 $ 1,165,650 $ 1,169,650 $ 1,199,519 $ 1,230,285 Inc./(Dec) $ (393,043) $ (730,987) $ (815,650) $ (839,650) $ (879,519) $ (1,230,285) Fund Balance $ 2,699,014 $ 1,968,027 $ 1,152,377 $ 312,727 $ (566,792) $ (1,797,077) NOTES: effective 2016 shifting back to ComDev staff allocation of.15sfe to 1.0 SFE ComDev effective 2015 added 1 FTE (contract) for program management effective 2017 ComDev Staff allocation of 1.05 SFE Fund Balance Analysis 3,000,000 2,500,000 2,000,000 1,500,000 1,000, ,000 - (500,000) (1,000,000) (1,500,000) (2,000,000) (2,500,000) Revenue Expense Fund Balance 50

51 Memo To: Breckenridge Town Council Members From: Shannon Haynes, Assistant Town Manager Date: 10/4/2018 Subject: Broadband Review and Discussion Staff has been working with Foresite Group and Tim Scott from Peak View Enterprises on developing a plan for town wide fiber infrastructure. During the Council retreat on October 9 th staff will: - Introduce Council to the representatives from Foresite and Peak View - Provide a summary overview on the importance of fiber infrastructure to the Town - Review the proposed Phase 1 map to include an explanation of the fiber backbone, the process for adding spurs off the backbone and drops to the individual buildings/residences, and how in-home wiring fits into the planning - Review and discussion of the summary proforma showing a 50% take rate - Review of critical success factors and a high level overview of the timeline for: o Construction o Service Provider Selection o Marketing & Communications Council decision point: - Overall approval to move forward and budget $8M in the CIP for Phase 1 construction and development 1 51

52 Breckenridge Broadband Proforma for Council Retreat Foresite Group has worked with the Town of Breckenridge to complete a full market assessment for a future fiber-based broadband deployment. Below are the tasks that have been completed to date. Strategy Session Preliminary Design Demand Aggregation Study LiDAR Collection and High-Level Extraction Bill of Materials Creation Priority Phase 1 Addresses and Cost Projections Interviews with Internet Service Providers, Equipment Vendors, General Construction Contractors and other markets that have built out municipal broadband networks Business and Financial Plan (Finalized based on Council Approval) We are currently working to finalize the final tasks which includes the Business and Financial Plan based on council approval. Foresite Group is submitting a work order to complete the next stages of project which will include a Phase 1 detailed design and the below tasks. Detailed Schedule Creation Construction Ride Outs and Lidar Extraction (low level) Detailed Fiber Network Design Permit Engineering Bid Package Creation for Construction RFP Construction RFP Released Awarded to General Contractor Provide possible technical input for use in creation of RFI for Service Provider(s) and/or potential Equipment Providers Finalized Construction Packages created which includes drawings, bill of materials, splice documents and a database updated Construction Starts in May of 2019 (schedule will adjust dependent on weather) Based on the most efficient build out of the network, the Broadband Committee has created a phase 1 approach that includes targeting the areas that would surround the backbone over a two year period. The targeted areas or boundaries are shown in our Webmap and a screen shot on page 3. The proforma was created from Foresite Group s automated designs with construction costs estimates, surveys completed by some of the residents and price quotes from vendors and contractors. Below are the assumptions used for this data. 52

53 Within the boundaries shown on the phase 1 map there are 5,590 demand points within the blue highlighted area and this includes Single Family Units, Multi Dwelling Units, Businesses, Schools or other anchor institutes Construction would be completed over 2 years with first provisional service being ready for customers during the 3 rd quarter of 2019 Sign up for services would begin once the providers are all identified and agreed upon scheduled to be ready by Q to begin marketing and awareness. During 2019 the Town would construct the infrastructure for the backbone and to certain addresses that sign up for service within the phase 1 boundaries The network would be constructed all the way to the end user with a piece of equipment on the side of the house where the fibers terminate The goal will be an initial 1 2 service providers for services in the Town. Initially, one focused on the residential market (this includes TV, internet, phone and over the top services) and perhaps a second provider focused on local businesses The fiber infrastructure will be appropriately sized to support possible future uses, such as assisting wireless infrastructure for improved cellular coverage, and other potential smart city applications Foresite Group has submitted a work order to complete construction ride out tasks, detailed GIS database updates including network design and connectivity, construction bid packages based on sign up, consulting services for smart city applications, construction RFP creation support, standard network architecture and documentation creation, sign up and technical marketing support, operations and maintenance planning, schedule creations per boundary area and community support and training The proforma for phase 1 includes a 50% take rate The network distribution or last mile part of the network will not be constructed until a premise signs up, so we are using what the committee feels and recommends are worst-case scenarios Phase 1 includes 17 miles of all underground infrastructure except for the wireless antennas that the broadband team and town planners are working in conjunction to look at placement locations Appropriation of funds in 2018 is necessary to ensure design, internet service provider(s) and/or equipment vendor selection, possible wireless carrier(s) selection, and construction RFPs are all completed o This is necessary in order to begin construction as early as May of 2019 There has been contingency built into the proforma in addition to equipment replenishment after 5 years The network is currently shown across 10 years with positive returns for reinvestment into phase 2 o The Town will likely bond for 20 years for phase 1 and subsequent ones 53

54 Initial serving areas to be included in phase 1 54

55 Beg Fund Bal REVENUE Residential Services Businesses Wireless Carrier Total Revenue BROADBAND FUND PRO FORMA - 50% TAKE RATES $ 8,000,000 $ 3,503,998 $ 606,604 $ 357,397 $ 134,498 $ 275,275 $ 416,053 $ 556,830 $ 697,608 $ 838,386 $41, $749, $1,332, $1,341, $1,341, $1,341, $1,341, $1,341, $1,341, $1,341, $3, $65, $116, $117, $117, $117, $117, $117, $117, $117, $11, $184, $189, $189, $189, $189, $189, $189, $189, $189, $56, $1,000, $1,637, $1,647, $1,647, $1,647, $1,647, $1,647, $1,647, $1,647, EXPENSES Engineering Services $ 402, $ 100, $ 42, $ 42, $ 42, $ 42, $ 42, $ 42, $ 42, $ 42, Construction Services $ 2,162, $ 2,331, $ 379, $ - $ - $ - $ - $ - $ - $ - Operations and Maintenance $ 27, $ 46, $ 46, $ 46, $ 46, $ 46, $ 46, $ 46, $ 46, $ 46, Interconnectivity Costs $ 546, $ 104, $ 104, $ 104, $ 104, $ 104, $ 104, $ 104, $ 104, $ 104, Equipment Upgrades $ - $ - $ - $ 363, $ - $ - $ - $ - $ - $ - Marketing, Branding, Admn $ 325, $ 225, $ 225, $ 225, $ 225, $ 225, $ 225, $ 225, $ 225, $ 225, Contigency $ 116, $ 116, $ 116, $ 116, $ 116, $ 116, $ 116, $ 116, $ 116, $ 116, Debt Service $971, $971, $971, $971, $971, $971, $971, $971, $971, $971, Exp. $ 4,552, $ 3,897, $ 1,887, $ 1,870, $ 1,507, $ 1,507, $ 1,507, $ 1,507, $ 1,507, $ 1,507, Profit/Loss -$4,496, $2,897, $249, $222, $140, $140, $140, $140, $140, $140, cum P/L -$4,496, $7,393, $7,642, $7,865, $7,724, $7,583, $7,443, $7,302, $7,161, $7,020, Fund Balance $3,503, $606, $357, $134, $275, $416, $556, $697, $838, $979, Fund Balance Analysis $9,000, $8,000, $7,000, $6,000, $5,000, $4,000, $3,000, $2,000, Total Revenue Total EXP Fund Balance $1,000, $ Years 55

56 Memo To: Breckenridge Town Council Members From: Shannon Haynes, Assistant Town Manager Date: 10/4/2018 Subject: Parking Discussion During the Council retreat on October 9 th staff will facilitate a parking discussion focused on the priorities and vision of Council going forward. We have reserved time for you to consider the aspects of parking you believe to be most important. This includes determining if added parking capacity is necessary and, if it is, where those additional spaces should be located in town or out of town. From this discussion an overall philosophy for current and future parking needs will be developed and next steps will be clarified. 1 56

57 57

58 58

59 59

60 Capital Improvement Plan October 9,

61 Five Year Capital Improvement Plan Summary 2019 to 2023 Capital Fund Projects New construction projects in 2019 New design projects in 2019 New construction projects in 2019 Recreation TOTAL River Park - 700, ,000 Breckenridge Campground ,000,000-1,000,000 Ice Arena Locker Room Addition? ? Total - 700,000-1,000,000-1,700,000 Public Works McCain Property Improvements- School Parcel 350,000 1,000,000 3,750, ,000 43,000 5,293,000 Coyne Valley Bike Underpass 75,000? ,000 Airport Road Improvements 250,000 3,750,000 3,750, ,750,000 Riverwalk Center Lobby Improvements 200,000-5,000,000-5,200,000 Undergrounding of Overhead Utilities 200, , , ,000 Roadway Resurfacing 850, , , , ,000 4,250,000 Sand Storage Structure 250, ,000 River Walk Extension & Utility Relocation 250, ,000 Fiber Infrastructure 10,000,000 10,000, ,000,000 Infrastructure Improvements- Culverts? 350, , , ,000 1,400,000 McCain Property Improvements- Landscape Berm , ,000 Blue River Crossing at Coyne Valley Road - 2,200, ,200,000 Total 12,425,000 18,150,000 9,150,000 6,350,000 1,443,000 47,518, % Renewable Energy Town Facilities Energy Upgrades 100, ,000 90,000 85, ,000 Solar/Renewable Implementation 40,000 40,000 40,000 40,000 40, ,000 Small Scale Wind & Hydro Power 0 50,000 50,000 50,000 50, ,000 Total 140, , , ,000 90, ,000 GRAND TOTAL 12,565,000 19,040,000 9,330,000 7,525,000 1,533,000 49,993,000 Capital Funding Sources Excise 2,397,000 6,557,000 7,357,000 7,427,000 1,435,000 25,173,000 McCain Rents 43,000 43,000 43,000 43,000 43, ,000 Open Space Funds (River Park) - 105, ,000 GOCO Grant for Oxbow Park - 350, ,000 Housing Fund (50% for Airport Rd. Improvements) 125,000 1,875,000 1,875, ,875,000 Conservation Trust Transfer - 110,000 55,000 55,000 55, ,000 COP Funding for Broadband Project 10,000,000 10,000,000 20,000,000 Total 12,565,000 19,040,000 9,330,000 7,525,000 1,533,000 49,993,000 61

62 New construction projects in 2019 New design projects in 2019 Parking and Transportation Fund Projects Dynamic Wayfinding 1,000,000 1,500, , ,000,000 S.Park Ave & Main Street Roundabout 250, , ,000,000 7,500,000 F-Lot Pedestrian Connection Improvements 200,000 2,000, ,200,000 B11 Parking- School Parcel 400, ,000 River Walk Repairs 137, , , ,500 Transit Stop Shelters 150, ,000 Pedestrian Corridor Lighting 200, , , , , ,000 Sidewalk Master Plan Implementation 250, , , , ,000 1,250,000 Village Road Roundabout ,500,000-3,500,000 French St Roundabout - 400,000-4,000,000-4,400,000 Four O'clock Pedestrian Improvements ,400,000-1,400,000 Village Road Pedestrian Improvements ,000 3,000,000 3,300,000 Transit Center ,000,000 5,000,000 Total 2,587,500 4,637, ,500 9,550,000 15,350,000 33,112,500 Parking and Transportation Funding Sources Lift Tax Agreement 1,570,000 1,641,400 1,714,228 1,788,513 1,864,283 8,578,423 Excise Fund Transfer 1,017,500 2,996,100-7,761,487 13,485,717 24,534,077 Total 2,587,500 4,637, ,500 9,550,000 15,350,000 33,112,500 62

63 CAPITAL IMPROVEMENT PLAN For the Year Ending December 31, 2019 Presented To: Breckenridge Town Council Eric Mamula, Mayor Wendy Wolfe Dick Carleton Gary Gallagher Jeffrey Bergeron Erin Gigliello Elisabeth Lawrence Presented by: Rick Holman, Town Manager 63

64 Recreation TOTAL River Park - 700, ,000 Breckenridge Campground ,000,000-1,000,000 Ice Arena Locker Room Addition? ? Total - 700,000-1,000,000-1,700,000 Public Works McCain Property Improvements- School Parcel 350,000 1,000,000 3,750, ,000 43,000 5,293,000 Coyne Valley Bike Underpass 75,000? ,000 Airport Road Improvements 250,000 3,750,000 3,750, ,750,000 Riverwalk Center Lobby Improvements 200,000-5,000,000-5,200,000 Undergrounding of Overhead Utilities 200, , , ,000 Roadway Resurfacing 850, , , , ,000 4,250,000 Sand Storage Structure 250, ,000 River Walk Extension & Utility Relocation 250, ,000 Fiber Infrastructure 10,000,000 10,000, ,000,000 Infrastructure Improvements- Culverts? 350, , , ,000 1,400,000 McCain Property Improvements- Landscape Berm , ,000 Blue River Crossing at Coyne Valley Road - 2,200, ,200,000 Total 12,425,000 18,150,000 9,150,000 6,350,000 1,443,000 47,518, % Renewable Energy Town Facilities Energy Upgrades 100, ,000 90,000 85, ,000 Solar/Renewable Implementation 40,000 40,000 40,000 40,000 40, ,000 Small Scale Wind & Hydro Power 0 50,000 50,000 50,000 50, ,000 Total 140, , , ,000 90, ,000 GRAND TOTAL 12,565,000 19,040,000 9,330,000 7,525,000 1,533,000 49,993,000 Capital Funding Sources Five Year Capital Improvement Plan Summary 2019 to 2023 Capital Fund Projects Excise 2,397,000 6,557,000 7,357,000 7,427,000 1,435,000 25,173,000 McCain Rents 43,000 43,000 43,000 43,000 43, ,000 Open Space Funds (River Park) - 105, ,000 GOCO Grant for Oxbow Park - 350, ,000 Housing Fund (50% for Airport Rd. Improvements) 125,000 1,875,000 1,875, ,875,000 Conservation Trust Transfer - 110,000 55,000 55,000 55, ,000 COP Funding for Broadband Project 10,000,000 10,000,000 20,000,000 Total 12,565,000 19,040,000 9,330,000 7,525,000 1,533,000 49,993,000 Dynamic Wayfinding 1,000,000 1,500, , ,000,000 S.Park Ave & Main Street Roundabout 250, , ,000,000 7,500,000 F-Lot Pedestrian Connection Improvements 200,000 2,000, ,200,000 B11 Parking- School Parcel 400, ,000 River Walk Repairs 137, , , ,500 Transit Stop Shelters 150, ,000 Pedestrian Corridor Lighting 200, , , , , ,000 Sidewalk Master Plan Implementation 250, , , , ,000 1,250,000 Village Road Roundabout ,500,000-3,500,000 French St Roundabout - 400,000-4,000,000-4,400,000 Four O'clock Pedestrian Improvements ,400,000-1,400,000 Village Road Pedestrian Improvements ,000 3,000,000 3,300,000 Transit Center ,000,000 5,000,000 Total 2,587,500 4,637, ,500 9,550,000 15,350,000 33,112,500 Parking and Transportation Funding Sources Parking and Transportation Fund Projects Lift Tax Agreement 1,570,000 1,641,400 1,714,228 1,788,513 1,864,283 8,578,423 Excise Fund Transfer 1,017,500 2,996,100-7,761,487 13,485,717 24,534,077 Total 2,587,500 4,637, ,500 9,550,000 15,350,000 33,112,500 64

65 Capital Improvement Plan Summary for 2019 Recreation Capital Fund Other Funding Total cost B List Ice Arena Locker Room Addition??? 0 0 Total??? 0 0 Public Works McCain Property Improvements- School Parcel 307,000 43, , ,000 Coyne Valley Bike Underpass 75, , ,000 Airport Road Improvements 125, , , ,000 Riverwalk Center Lobby Improvements 200, , ,000 Undergrounding of Overhead Utilities 200, , ,000 Roadway Resurfacing 850, , ,000 Sand Storage Structure 250, , ,000 River Walk Extension & Utility Relocation 250, , ,000 Fiber Infrastructure 0 10,000,000 10,000, ,000,000 Infrastructure Improvements- Culverts? Town Facilities Energy Upgrades* 100, , ,000 Solar/Renewable Implementation* 40, , ,000 *100% Renewable Energy Project TOTAL 2,397,000 10,168,000 12,565, ,565,000 A list Total of A & B Projects GRAND TOTAL 2,397,000 10,168,000 12,565, ,565,000 Capital Funding Sources Capital Fund Other Funding Total Funds Excise Fund Transfer 2,397,000-2,397,000 McCain Revenues 43,000 43,000 Housing Fund (50% Airport Rd. Improvements) 125, ,000 Conservation Trust Transfer - - COP Funding for Broadband Project 10,000,000 10,000,000 TOTAL 2,397,000 10,168,000 12,565,000 Parking and Transportation P&T Fund Other Funding Total cost B List Dynamic Wayfinding 1,000, ,000, ,000,000 S.Park Ave & Main Street Roundabout 250, , ,000 B11 Parking- School Parcel 400, , ,000 Transit Stop Shelters 150, , ,000 Pedestrian Corridor Lighting 200, , ,000 Sidewalk Master Plan Implementation 250, , ,000 F-Lot Pedestrian Connection Improvements 200, , ,000 River Walk Repairs , ,500 TOTAL 2,587, ,587, ,587,500 A list P&T Funding Sources P&T Fund Other Funding Total Funds Lift Tax Agreement 1,570,000-1,570,000 Excise Fund Transfer 1,017,500-1,017,500 TOTAL 2,587,500-2,587,500 Total of A & B Projects 65

66 Project Name Department: River Park Recreation Description: The 2020 project will construct the second phase of Oxbow Park, part of the Blue River Corridor Master Plan and adjacent to the Denison Housing projects. This work will include the tot play area, swings, parking, and additional educational features. The project received a GOCO grant award for $350,000 for Phase I of the project and a second GOCO grant application will be submitted for Phase 2. Project Funding Total Town Funds 0 245, ,000 Open Space Funds 0 105, ,000 GOCO Grant 0 350, ,000 Total 0 700, ,000 Project Costs Total Design and Construction 0 700, ,000 Total 0 700, ,000 Operational cost considerations: This project will require staff time to inspect the playground and bathrooms daily, trash collection and utilities. The total is estimated at $13,000 per year. 66

67 Project Name Department: Breckenridge Campground Recreation Description: Under the Town Council Goal to Ensure that Breckenridge continues to maintain, improve, and develop public recreational facilities and amenities, Council defined a specific 2018 objective to Evaluate potential locations for a campground. Project Funding Total Town Funds ,000, ,000,000 Conservation Trust Funds Total ,000, ,000,000 Project Costs Total Design and Construction ,000, ,000,000 Total ,000, ,000,000 Operational cost considerations: Operational costs have been estimated at $50,000 annually. 67

68 Project Name Department: Ice Arena Locker Room Addition Recreation Description: This project is the construction of new locker rooms to accommodate the growing use at the Ice Arena and provide administrative offices for Summit Youth Hockey. Funding for design was appropriated in Project Funding Total Town Funds? Total? Project Costs Total Design 100,000 Construction? Total? Operational cost considerations: Operational costs will be detailed once the project scope and design are progressed. There will be a cost increase for utilities, maintenance, and cleaning fees. 68

69 Project Name Department: McCain Property Improvements- School Parcel Public Works Description: This project will establish a roadway and utilities to the School District parcel. Project Funding Total Town Funds 307, ,000 3,707, , ,078,000 Rents 43,000 43,000 43,000 43,000 43, ,000 Total 350,000 1,000,000 3,750, ,000 43,000 5,293,000 Project Costs Total Construction 350,000 1,000,000 3,750, ,000 43,000 5,250,000 Total 350,000 1,000,000 3,750, ,000 43,000 5,250,000 Operational cost considerations: Operational costs will be detailed once the project scope and design are progressed. There will be a cost increase for snow removal and maintenance of infrastructure. 69

70 Project Name Department: Coyne Valley Bike Underpass Engineering Description: This project will design and construct an underpass for the Rec Path crossing at Coyne Valley Rd. Project Funding Total Town Funds 75,000? 0 0 0? Total 75,000? 0 0 0? Project Costs Total Design 75,000 75,000 Construction 0? 0 0 0? Total 75,000? 0 0 0? Operational cost considerations: This is not expected to have significant impact on operational costs. 70

71 Project Name Department: Airport Road Improvements Public Works Description: This project is to design and implement roadway improvements ass recommended in the forthcoming 2018 Traffic Study for Airport Road. Project Funding Total CIP Funds 125,000 1,875,000 1,875, ,875,000 Housing Funds 125,000 1,875,000 1,875, ,875,000 Total 250,000 3,750,000 3,750, ,750,000 Project Costs Total Design 250, ,000 Construction 0 3,750,000 3,750, ,500,000 Total 250,000 3,750,000 3,750, ,750,000 Operational cost considerations: Operational costs will be detailed once the project scope and design are progressed. There will be a cost increase for snow removal and maintenance of infrastructure. 71

72 Project Name Department: Riverwalk Center Lobby Improvements Administration Description: This project is to add a Lobby to the Riverwalk Center (RWC) that would include indoor bathrooms, ticket office, concession and pre-event space. DTJ developed a programmatic design that was estimated to cost between $3.7M and $5M in Project Funding Total Town Funds 200, ,000, ,200,000 Total 200, ,000, ,200,000 Project Costs Total Design 200, ,000 Construction ,000, ,000,000 Total 200, ,000, ,200,000 Operational cost considerations: The lobby addition would increase the operational costs by approximately $16,000 that include utilities, maintenance, labor and cleaning. 72

73 Project Name Department: Undergrounding of Overhead Utilities Public Works Description: This project is to underground all of the overhead utility lines in Town over time. This project is funded through the general fund in conjunction with a 1% excise tax charged on Breckenridge residents' electric bills. The project will continue until all overhead lines are placed underground. The funding is shown to be every other year because the 1% excise money is generated at a rate that cannot support a project every year. The $200,000 from the Town is used to pay for the undergrounding of other utilities that may be on the pole at the same time as the electric lines. The Town does not have a similar funding source for those utilities other than electric. Project Funding Total Town Funds 200, , , ,000 Total 200, , , ,000 Project Costs Total Construction 200, , , ,000 Total 200, , , ,000 Operational cost considerations: This project is not expected to impact operational costs. 73

74 Project Name Department: Roadway Resurfacing Public Works Description: This represents a commitment to future street projects, probably in the form of milling and resurfacing. The Council has set a goal of having the pavement condition rated at a 7 based on the Town pavement rating system. The inspection of the roads happens yearly. This project will also replace concrete that is deteriorated or damaged as well. Project Funding Total Town Funds 850, , , , ,000 3,400,000 Total 850, , , , ,000 3,400,000 Project Costs Total Construction 850, , , , ,000 3,400,000 Total 850, , , , ,000 3,400,000 Operational cost considerations: This project is part of an ongoing reinvestment in our streets in order to keep our roads in a condition that is acceptable to our community. While it is difficult to determine the operational costs that this project reduces, the amount of maintenance needed because of this project is reduced. 74

75 Project Name Department: Sand Storage Structure Public Works Description: This project is to construct a structure at the Public Works Yard for storage of our sand used in roadway maintenance. Project Funding Total Town Funds 250, ,000 Total 250, ,000 Project Costs Total Design Construction 250, ,000 Total 250, ,000 Operational cost considerations: This project will not significantly impact our current operational costs. 75

76 Project Name Department: River Walk Extension & Utility Relocation Public Works Description: This project is the extension of the Riverwalk pathway south to S.Park Ave. Project Funding Total Town Funds 250, ,000 Total 250, ,000 Project Costs Total Design 50, ,000 Construction 200, ,000 Total 250, ,000 Operational cost considerations: This project will not significantly impact our current operational costs. 76

77 Project Name Department: Fiber Infrastructure Public Works Description: The purpose of this project is to provide reliable and competitive Broadband services to citizens/businesses/visitors per the Council goals. Project Funding Total Town Funds Other Funding 10,000,000 10,000,000 20,000,000 Total 10,000,000 10,000, ,000,000 Project Costs Total Design Construction 10,000,000 10,000, ,000,000 Total 10,000,000 10,000, ,000,000 Operational cost considerations: Operational cost for this project are curretly unknown. 77

78 Project Name Department: Infrastructure Improvements- Culverts Engineering Description: This project is to repair or replace aging culverts throughout Town. The 2019 project will be to repair the Illinois Gulch culvert under Boreas Pass Rd including the sidewalk that is part of the structural system of the culvert. Construction costs for the 2019 project are unknown due to the complexity of the project. Staff will update Council as design and cost estimating progress. Project Funding Total Town Funds? 350, , , ,000 1,400,000 Total? 350, , , ,000 1,400,000 Project Costs Total Design 175,000 Construction? 350, , , ,000 1,400,000 Total? 350, , , ,000 1,400,000 Operational cost considerations: This is not expected to have an ongoing operational cost to the Town since the culverts are existing. 78

79 Project Name Department: McCain Property Improvements- Landscape Berm Public Works Description: This project will establish a landscape buffer on the southern portion of McCain adjacent to SH9. Project Funding Total Town Funds , ,000 Rents Total , ,000 Project Costs Total Construction , ,000 Total , ,000 Operational cost considerations: Operational costs will be detailed once the project scope and design are progressed. There will be a cost increase for maintenance and weed management. 79

80 Project Name Department: Blue River Crossing at Coyne Valley Road Public Works Description: The Blue River reclamation project originally included the replacement of the metal culverts at Coyne Valley Road over the Blue River with a concrete structure. The pricing from the original bid was not attractive and was subsequently removed from the reclamation project. Council wanted to revisit replacing the culvert at a later time. This project will replace the metal culverts with a concrete structure along with reconstruction of a small portion of the Blue River banks upstream from Coyne Valley Road. Project Funding Total Town Funds 0 2,200, ,200,000 Total 0 2,200, ,200,000 Project Costs Total Construction 0 2,200, ,200,000 Total 0 2,200, ,200,000 Operational cost considerations: This is not expected to have an ongoing operational cost to the Town since the culvert already exists. 80

81 Project Name Department: Town Facilities Energy Upgrades Public Works Description: This project accelerates the Town's invest in upgrades for energy efficiencies in lighting and mechanical systems. Project Funding Total Town Funds 100, ,000 90,000 85, ,000 Total 100, ,000 90,000 85, ,000 Project Costs Total Design Construction 100, ,000 90,000 85, ,000 Total 100, ,000 90,000 85, ,000 Operational cost considerations: This project will not impact our current operational costs and will realize savings based on the reduced energy consumption. 81

82 Project Name Department: Solar/Renewable Implementation Community Development Description: This project is to pursue options and strategies for renewable energy in Town. Project Funding Total Town Funds 40,000 40,000 40,000 40,000 40, ,000 Total 40,000 40,000 40,000 40,000 40, ,000 Project Costs Total Design Construction 40,000 40,000 40,000 40,000 40, ,000 Total 40,000 40,000 40,000 40,000 40, ,000 Operational cost considerations: This project will not impact our current operational costs. 82

83 Project Name Department: Small Scale Wind & Hydro Power Community Development Description: This project is to explore the feasibility and implement small-scale wind and solar projects. Project Funding Total Town Funds 0 50,000 50,000 50,000 50, ,000 Total 0 50,000 50,000 50,000 50, ,000 Project Costs Total Design 0 50, ,000 Construction ,000 50,000 50, ,000 Total 0 50,000 50,000 50,000 50, ,000 Operational cost considerations: This project will not impact our current operational costs. 83

84 Project Name Department: Dynamic Wayfinding Parking and Transportation Description: This project is for the installation of dynamic wayfinding signs associated with parking and to upgrade additional wayfinding signage throughout town. Project Funding Total Town Funds 1,000,000 1,500, , ,000,000 Total 1,000,000 1,500, , ,000,000 Project Costs Total Design Construction 1,000,000 1,500, , ,000,000 Total 1,000,000 1,500, , ,000,000 Operational cost considerations: The contract price for the web-hosted software to control the signs is approximately $10,000 per year. 84

85 Project Name Department: S.Park Ave & Main Street Roundabout Parking and Transportation Description: This project is to evaluate, design and construct the S.Park Ave/Main St. roundabout and associated corridor improvements that were recommended by the 2016 DTJ/Nelson Nygaard study. The 2019 project is a feasibility study of both intersection improvements and alternative pedestrian crossing locations. This study will include a large public outreach effort and involvement of stakeholders. Project Funding Total Town Funds 250, , ,000,000 7,500,000 Total 250, , ,000,000 7,500,000 Project Costs Total Design 250, , ,000 Construction ,000,000 7,000,000 Total 250, , ,000,000 7,500,000 Operational cost considerations: The cost for operations will be determined once the scope of the project has been established. It is likely that the landscaping needed in these areas will significantly increase the summer maintenance to keep them looking good. The design can be geared toward low maintenance but weeds, irrigation and regular trash cleaning will be required. The roundabout at North Main and Park Avenue costs approximately $40,000 per year to provide all the flowers and maintenance. Staff estimates that the lower maintenance roundabouts will costs between $15,000 and $20,000 per year. 85