09/11/2006 Council Packet - Laserfiche WebLink

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• • • Minnesota Statutes, Section 475.521, requires that the City council consider certain factors in connection with its preparation of a Capital Improvement Plan. Accordingly, the following information is submitted for the Civic Center Complex included in the Municipal Buildings and Facilities Capital Improvement Plan for 2006 -2010 to be considered at the public hearing. 1. The condition of the City's existing infrastructure is considered to be good, with the Civic Center Complex being the only projected requirements, aside from routine maintenance. 2. All of the projected space in the city hall and police building portion of Civic Center Complex is expected to be occupied during the period covered by the Municipal Buildings and Facilities Capital Improvement Plan. 3. The estimated cost of acquiring the city hall and police building portion of the Civic Center Complex from the Lino Lake Economic Development Authority is approximately $3,600,000. 4. The acquisition of the city hall and police building portion of Civic Center Complex will reduce the property tax resources necessary to finance the Civic Center Complex. 5. The overlapping debt in the City is estimated to be $567,670,000, exclusive of debt supported by revenues. 6. The Civic Center Complex transaction will result in cost savings to the City. 7. The average annual operating costs of the city hall and police building portion of Civic Center Complex for the three year period ended December 31, 2005 was approximately $430,000. 8. Staff does not believe there is a realistic opportunity to provide the same services through shared facilities with other governmental units.